CHART 1: The Economy Continued to Grow Throughout 2023 (Pg 5)

CHART 2: Labor Markets Remained Tight in 2023 as the Number of Job Openings Per Unemployed Person Was Elevated (Pg 7)

CHART 3: Inflation Declined in 2023 but Shelter Costs Remained Elevated (Pg 7)

CHART 4: U.S. Treasury Yields Trended Higher for Most of 2023, but a Drop in March and a Fourth Quarter Bond Rally Offset the Increases (Pg 8)

CHART 5: The Spread Between Corporate Bond Yields and Benchmark Interest Rates Trended Downward for Much of 2023 (Pg 9)

CHART 6: Full-Year 2023 Net Income Remained Well Above the Pre-Pandemic Level (Pg 11)

CHART 7: Unrealized Losses on Investment Securities Remained Elevated at Year-End 2023 (Pg 12)

CHART 8: Annual Change in Loan Balances Was Driven by Credit Card Portfolios (Pg 13)

CHART 9: Deposits Declined in 2023 but Increased in the Fourth Quarter (Pg 15)

CHART 10: In 2023, Money Market Funds Surged While Bank Deposits Declined (Pg 17)

CHART 11: Total Bank Liquidity Fell due to Declining Unpledged Securities (Pg 18)

CHART 12: Wholesale Funding Rose in 2023 (Pg 19)

CHART 13: Community Bank Liquid Assets Decreased With Less Cash Reported (Pg 20)

CHART 14: Community Banks Wholesale Funding Rose Past Pre-Pandemic Levels (Pg 20)

CHART 15: In 2023, the Increase in the Cost of Funds Generally Outpaced the Rise in Earning Asset Yields (Pg 21)

CHART 16: The Net Interest Margin Improved for a Majority of Institutions but the Distribution of Changes Was More Dispersed in 2023 (Pg 22)

CHART 17: Noncommunity Banks Generally Reported a Greater Increase in Earning Asset Yield in 2023 (Pg 23)

CHART 18 But Noncommunity Banks Also Reported a Higher Increase in Cost of Funds in 2023 (Pg 23)

CHART 19: A Majority of Smaller Community Banks Reported Higher Net Interest Margins in 2023 (Pg 25)

CHART 20: Mortgage Lending Specialists Reported a Significant Increase in the Share of Unprofitable Community Banks in 2023 (Pg 25)

CHART 21: Office Demand Was Weak in 2023 and Is Not Forecast to Improve in 2024 (Pg 28)

CHART 22: Office and Mall Prices Remained Weak in 2023 (Pg 29)

CHART 23: CRE Concentrations Rose Sharply Among Midsize Banks Over the Past Decade (Pg 30)

CHART 24: Nonfarm Nonresidential Loan Delinquency Rates Rose More Among the Largest Institutions (Pg 31)

CHART 25: Weakness in the O ice Sector Contributed to an Increase in the CMBS Delinquency Rate (Pg 32)

CHART 26: Existing Home Sales Sharply Declined Amid Higher Mortgage Rates (Pg 34)

CHART 27: A Larger Share of Community Banks Continued to Report a Higher Concentration of Total Residential Loans (Pg 35)

CHART 28: Overall Residential Mortgage Asset Quality Remained Sound in 2023 (Pg 36)

CHART 29: Real Income Accelerated in 2023, While Real Spending Growth Leveled Off (Pg 37)

CHART 30: Consumer Debt Burdens Remained Low in 2023 (Pg 38)

CHART 31: Loan Growth Slowed in 2023 for All Consumer Credit Categories (Pg 39)

CHART 32: Consumer Loan Quality Worsened in 2023, Led by Credit Card Loans (Pg 40)

CHART 33: Loan Quality at the Median Community Bank Remained Better Before the Pandemic (Pg 40)

MAP 1: Farm Banks Are Concentrated in the Corn Belt and Plains States Where Row Crops and Livestock Are Dominant (Pg 41)

CHART 34: Farm Profits Declined in 2023 but Remained Above the Long-Term Average (Pg 42)

CHART 35: Farm Bank Delinquency Rates on Agricultural Loans Remained Low in 2023 (Pg 43)

CHART 36: Concentrations in Farm Loan Portfolios Increased in 2023 (Pg 44)

MAP 2: Farmland Values Continued to Rise Throughout 2023, Particularly in States with a High Concentration of Farm Banks (Pg 45)

CHART 37: Lending Standards to Businesses Continued to Tighten in 2023 (Pg 47)

CHART 38: The Community Bank Commercial and Industrial Loan Past-Due and Nonaccrual Rate Is Lower Than the Noncommunity Bank Rate (Pg 48)

CHART 39: High-Yield Corporate Bond Issuance Rose in 2023 From the Decade Low in 2022, While Leveraged Loan Issuance Moderated (Pg 49)

CHART 40: Corporate Debt Relative to GDP and Corporate Profits Moderated Further in 2023 Compared to the Spike Seen in 2020 and 2021 (Pg 50)

CHART 41: Two Signals of Weakness in Leveraged Loans Are Near Normal Levels (Pg 51)

CHART 42: Leveraged Loan Borrowers Extended Maturities Into the Late 2020s, Reducing Near-Term Refinancing Risks (Pg 52)

CHART 43: Growth in Nonbank Financial Institution Lending Outpaced Other Major Loan Categories in 2023 (Pg 53)

CHART 44: GSIBs Have the Highest Concentration of Loans to Nonbank Financial Institutions (Pg 54)

CHART 45: Oil Prices in 2023 Were Roiled by Economic Conditions and Geopolitical Events (Pg 57)

CHART 46: Despite Extreme Oil Price Volatility, Community Bank Past-Due Loans Have Remained Low and Stable in Energy-Producing States (Pg 58)

CHART 47: The Number of Billion-Dollar Disaster Events Reported in 2023 Reached an All-Time High (Pg 63)