Financial Tidbits 02/27/2013

HEZillow reports the percentage of homeowners with negative equity (owe more on their homes than the home is worth) fell to 27.5% as of the end of 2012 vs. 31.1% at the end of the prior year (nearly 12% better).

St. Louis Fed President Bullard said the FOMC will keep monetary policies easy and rates low “for a long time.”

JPMorgan (Chase) said it plans to fire 19,000 people or about 7% of total employees, with 4,000 coming this year and the rest coming through 2014 (mostly in mortgages and community banking).

A recent study that finds only 18% expect business leaders to tell the truth and only 13% expect it from their political leaders.

The top 10 banks control 54% of the deposits; banks that operate in multiple states control 79% of deposits and  banks with assets less than $1B control only 13% of deposits.

Housing foreclosures fell 7% in Jan vs. Dec. and were down 28% YOY.

The FDIC reported yesterday that the banking industry posted a 19% improvement in full year earnings in 2012 vs. 2011, the second highest level ever. Performance was driven primarily by a 25% reduction in loan loss provisions and 8% higher noninterest income (174% gain on loan sales, 94% increase in servicing income and 52% reduction in losses on foreclosed property sales). Loans grew 1.7%, as C&I increased 3.7%, credit cards grew 4.2% and real estate climbed 1.4%. Meanwhile, home equity and real estate construction each declined by 2.2% and 3.1%, respectively. NIM declined 18bp to 3.42% over the year and is down 34bp over the past 2Ys. The total number of institutions fell to 7,083.


Branch Manager that has worked in the small to medium sized business lending field. I have experience in all types commercial lending and I'm here to provide insights from a lender's point of view. I hope to impart some knowledge that can take your business or profession to the next level. I currently work as a Branch Manager at the 10th & Bannock Office for Banner Bank in Boise, Idaho.

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Posted in Bank, Business, Economy, FDIC, Homeownership, Interest Rates, Lending, Money, Real Estate, Recession, Uncategorized

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