State Profile Colorado

Fourth Quarter 2023

ECONOMIC INDICATORS (NOT SEASONALLY ADJUSTED, UNLESS NOTED)

Q4-23 Q3-23 Q4-22 2023 2022

2.2% 2.6% 3.1% 2.5% 4.3%

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)

(5%)

(7%)

(72%)

(16%)

-1.7%

-1.3%

2.0%

5.8%

3.3%

-1.3%

1.0%

2.4%

6.1%

3.2%

0.8%

2.8%

3.4%

2.5%

3.0%

-1.2%

0.8%

2.4%

5.2%

3.2%

2.5%

3.4%

4.9%

2.6%

3.1%

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)

-14.9%

-15.4%

2.3%

N/A

-31.9%

-28.2%

1.5%

1.01

-30.7%

-3.6%

8.9%

0.84

-14.9%

-15.4%

2.0%

N/A

-30.7%

-3.6%

16.5%

0.85

BANKING TRENDS

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

Institutions (#) 71 71 72 71 72

Total Assets (in millions) $106,927 $105,118 $93,984 $106,927 $93,984

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

Subchapter S Institutions (#) 19 19 20 19 20

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

Past-Due and Nonaccrual Loans / Total Loans (median %) 0.44 0.48 0.32 0.44 0.32

Noncurrent Loans / Total Loans (median %) 0.24 0.28 0.09 0.24 0.09

Loan and Lease Allowance / Total Loans (median %) 1.27 1.26 1.27 1.27 1.27

Loan and Lease Allowance / Noncurrent Loans (median multiple) 3.23 2.80 5.07 3.23 5.07

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) 10.91 10.89 10.37 10.91 10.37

Return on Assets (median %) 0.99 1.08 1.11 0.99 1.11

Pretax Return on Assets (median %) 1.21 1.34 1.27 1.21 1.27

Net Interest Margin (median %) 3.86 3.82 3.59 3.86 3.59

Yield on Earning Assets (median %) 5.07 4.98 3.97 5.07 3.97

Cost of Funding Earning Assets (median %) 1.24 1.13 0.28 1.24 0.28

Provisions to Avg. Assets (median %) 0.06 0.04 0.02 0.06 0.02

Noninterest Income to Avg. Assets (median %) 0.37 0.37 0.41 0.37 0.41

Overhead to Avg. Assets (median %) 2.60 2.62 2.52 2.60 2.52

Liquidity / Sensitivity Q4-23 Q3-23 2023

Net Loans to Assets (median %) 66.04 64.24 61.57 66.04 61.57

Noncore Funding to Assets (median %) 12.15 11.34 6.93 12.15 6.93

Long-term Assets to Assets (median %, call filers) 29.07 29.47 32.33 29.07 32.33

Brokered Deposits (number of institutions) 35 34 23 35 23

Brokered Deposits to Assets (median % for those above) 4.81 4.46 3.77 4.81 3.77

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 28 29 35 28 35

Commercial Real Estate 259 252 244 259 244

Construction & Development 48 47 49 48 49

Multifamily Residential Real Estate 9 9 7 9 7

Nonresidential Real Estate 163 165 159 163 159

Residential Real Estate 122 122 125 122 125

Consumer 5 6 6 5 6

Agriculture 23 24 26 23 26

BANKING PROFILE

Asset Distribution

< $100 million 7 (9.9%)

Institutions in Market

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Denver-Aurora-Lakewood, CO 67 $114,887

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

Boulder, CO 33 $12,518 $100 million to $250 million 23 (32.4%)

Colorado Springs, CO 41 $11,119 $250 million to $1 billion 30 (42.3%)

Fort Collins, CO 26 $10,309 $1 billion to $10 billion 9 (12.7%)

Greeley, CO 25 $6,243 $10 billion 2 (2.8%)