State Profile North Dakota

Fourth Quarter 2023

ECONOMIC INDICATORS (NOT SEASONALLY ADJUSTED, UNLESS NOTED)

Q4-23 Q3-23 Q4-22 2023 2022

1.6% 1.9% 2.5% 2.2% 2.7%

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)

(7%)

(10%)

(64%)

(19%)

3.5%

3.7%

1.3%

1.1%

1.9%

3.6%

6.7%

1.1%

1.3%

1.8%

4.0%

9.1%

1.8%

1.2%

2.0%

3.7%

8.0%

1.4%

1.1%

1.9%

4.4%

8.1%

2.3%

0.9%

2.0%

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)

-23.6%

-24.0%

4.1%

N/A

-25.7%

36.4%

4.7%

0.68

-3.6%

27.5%

9.0%

0.50

-23.6%

-24.0%

5.1%

N/A

-3.6%

27.5%

10.6%

0.51

BANKING TRENDS

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

Institutions (#) 63 64 64 63 64

Total Assets (in millions) $57,039 $56,008 $52,563 $57,039 $52,563

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

Subchapter S Institutions (#) 45 44 44 45 44

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

Past-Due and Nonaccrual Loans / Total Loans (median %) 0.63 0.57 0.51 0.63 0.51

Noncurrent Loans / Total Loans (median %) 0.20 0.25 0.17 0.20 0.17

Loan and Lease Allowance / Total Loans (median %) 1.20 1.21 1.20 1.20 1.20

Loan and Lease Allowance / Noncurrent Loans (median multiple) 2.76 3.54 3.98 2.76 3.98

Net Loan Losses / Total Loans (median %, year-to-date annualized) 0.00 0.00 0.00 0.00 0.00

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

Tier 1 Leverage (median %, end of period) 9.75 9.85 9.71 9.75 9.71

Return on Assets (median %) 1.11 1.19 1.11 1.11 1.11

Pretax Return on Assets (median %) 1.18 1.25 1.21 1.18 1.21

Net Interest Margin (median %) 3.38 3.43 3.32 3.38 3.32

Yield on Earning Assets (median %) 4.77 4.66 3.60 4.77 3.60

Cost of Funding Earning Assets (median %) 1.28 1.15 0.36 1.28 0.36

Provisions to Avg. Assets (median %) 0.03 0.00 0.00 0.03 0.00

Noninterest Income to Avg. Assets (median %) 0.30 0.31 0.30 0.30 0.30

Overhead to Avg. Assets (median %) 2.29 2.27 2.19 2.29 2.19

Liquidity / Sensitivity Q4-23 Q3-23 2023

Net Loans to Assets (median %) 64.11 64.78 62.09 64.11 62.09

Noncore Funding to Assets (median %) 11.37 12.63 5.57 11.37 5.57

Long-term Assets to Assets (median %, call filers) 21.18 23.07 26.51 21.18 26.51

Brokered Deposits (number of institutions) 31 31 25 31 25

Brokered Deposits to Assets (median % for those above) 3.59 4.88 2.15 3.59 2.15

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 68 70 69 68 69

Commercial Real Estate 84 94 79 84 79

Construction & Development 10 9 9 10 9

Multifamily Residential Real Estate 7 7 8 7 8

Nonresidential Real Estate 71 73 67 71 67

Residential Real Estate 52 51 53 52 53

Consumer 21 20 20 21 20

Agriculture 283 280 269 283 269

BANKING PROFILE

Asset Distribution

< $100 million 16 (25.4%)

Institutions in Market

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Fargo, ND-MN 32 $13,008

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

Bismarck, ND 18 $5,720 $100 million to $250 million 16 (25.4%)

Grand Forks, ND-MN 20 $3,781 $250 million to $1 billion 20 (31.7%)

$1 billion to $10 billion 10 (15.9%)

$10 billion 1 (1.6%)