State Profile Delaware

Fourth Quarter 2023

ECONOMIC INDICATORS (NOT SEASONALLY ADJUSTED, UNLESS NOTED)

Q4-23 Q3-23 Q4-22 2023 2022

1.6% 2.4% 3.6% 2.6% 4.1%

Employment Growth Rates (% change from year ago, unless noted)

Total Nonfarm (share of trailing four quarter employment in parentheses)

Manufacturing

Other (non-manufacturing) Goods-Producing

Private Service-Providing

Government

Unemployment Rate (% of labor force, seasonally adjusted)

(6%)

(5%)

(75%)

(15%)

4.4%

0.3%

1.2%

3.1%

4.1%

4.4%

1.0%

2.3%

2.3%

4.0%

4.2%

2.4%

3.8%

2.5%

4.2%

4.7%

1.4%

2.5%

2.7%

4.0%

4.4%

1.4%

4.7%

2.1%

4.2%

Other Indicators (% change of 4-qtr moving total, unless noted) Q4-23 2023 2022

Single-Family Home Permits

Multifamily Building Permits

Home Price Index (change from year ago)

Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)

-5.7%

101.3%

6.8%

N/A

-16.8%

91.9%

7.0%

1.16

-22.9%

-53.1%

10.7%

0.86

-5.7%

101.3%

6.9%

N/A

-22.9%

-53.1%

14.9%

0.93

BANKING TRENDS

General Information Q4-23 Q3-23 Q4-22 2023 2022

Institutions (#) 17 18 20 17 20

Total Assets (in millions) $1,284,854 $1,265,496 $1,282,163 $1,284,854 $1,282,163

New Institutions (# < 3 years) 0 0 0 0 0

Subchapter S Institutions (#) 1 1 1 1 1

Asset Quality Q4-23 Q3-23 Q4-22 2023 2022

Past-Due and Nonaccrual Loans / Total Loans (median %) 1.78 1.28 1.20 1.78 1.20

Noncurrent Loans / Total Loans (median %) 1.21 0.95 0.68 1.21 0.68

Loan and Lease Allowance / Total Loans (median %) 1.47 1.38 1.38 1.47 1.38

Loan and Lease Allowance / Noncurrent Loans (median multiple) 2.37 3.13 4.16 2.37 4.16

Net Loan Losses / Total Loans (median %, year-to-date annualized) 0.30 0.21 0.15 0.30 0.15

Capital / Earnings (year-to-date annualized, unless noted) Q4-23 Q3-23 Q4-22 2023 2022

Tier 1 Leverage (median %, end of period) 12.11 11.32 10.66 12.11 10.66

Return on Assets (median %) 1.71 1.61 1.46 1.71 1.46

Pretax Return on Assets (median %) 2.18 2.14 1.70 2.18 1.70

Net Interest Margin (median %) 4.52 4.57 3.60 4.52 3.60

Yield on Earning Assets (median %) 5.16 5.17 3.81 5.16 3.81

Cost of Funding Earning Assets (median %) 1.34 1.20 0.33 1.34 0.33

Provisions to Avg. Assets (median %) 0.13 0.09 0.07 0.13 0.07

Noninterest Income to Avg. Assets (median %) 1.23 1.22 1.23 1.23 1.23

Overhead to Avg. Assets (median %) 2.69 2.70 2.59 2.69 2.59

Liquidity / Sensitivity Q4-23 Q3-23 2023

Net Loans to Assets (median %) 54.96 57.32 57.98 54.96 57.98

Noncore Funding to Assets (median %) 6.59 5.38 3.72 6.59 3.72

Long-term Assets to Assets (median %, call filers) 27.62 20.65 21.21 27.62 21.21

Brokered Deposits (number of institutions) 9 8 10 9 10

Brokered Deposits to Assets (median % for those above) 2.88 4.09 3.94 2.88 3.94

Loan Concentrations

(median % of Tier 1 Capital plus the Reserve for Loan and Lease Losses) Q4-23 Q3-23 Q4-22 2023 2022

Commercial and Industrial 1 2 2 1 2

Commercial Real Estate 2 38 38 2 38

Construction & Development 1 4 3 1 3

Multifamily Residential Real Estate 0 0 0 0 0

Nonresidential Real Estate 1 17 19 1 19

Residential Real Estate 21 23 17 21 17

Consumer 19 11 12 19 12

Agriculture 0 0 0 0 0

BANKING PROFILE

Asset Distribution

< $100 million 1 (5.9%)

Institutions in Market



Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 95 $598,320

Largest Deposit Markets (from 2023 Summary of Deposits) Deposits ($ millions) Institutions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits ($ millions) Per

Employment Growth Rates (% change from year ago, unless noted)

Total Nonfarm (share of trailing four quarter employment in parentheses)

Manufacturing

Other (non-manufacturing) Goods-Producing

Private Service-Providing

Government

Unemployment Rate (% of labor force, seasonally adjusted)

Q3-23 Q4-22

Q4-22 2022

Salisbury, MD-DE 24 $112,271 $100 million to $250 million 3 (17.6%)

Dover, DE 11 $3,294 $250 million to $1 billion 5 (29.4%)

$1 billion to $10 billion 1 (5.9%)

$10 billion 7 (41.2%)