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FDIC: Home building permits dip in first quarter

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Building permits for single-family homes fell in Pennsylvania in the first quarter of 2014, according to a new report from the Federal Deposit Insurance Corp.

The FDIC quarterly report for Pennsylvania's first quarter revealed single-family building permits were down 12.5 percent compared to the first quarter of 2013. The drop reversed a two-year trend of gains.

In 2013, single-family permits were up 17.1 percent, and in 2012 they were up 12.8 percent, according to the report. Permits had risen 15.6 percent in the fourth quarter of 2013 versus the fourth quarter of 2012.

Multifamily building permits, however, rose 3.1 percent in the first quarter after dropping 6.3 percent in the fourth quarter of 2013.

The report also revealed the state lost two banks in the quarter, with the total institutions now at 194. At the end of 2012, there were 200 banks in the state. There are 25 institutions in the Harrisburg-Carlisle market, with $12.2 billion in deposits.

The Harrisburg-Carlisle market, which includes Cumberland, Dauphin and Perry counties, is the fifth-largest market in the state. It is the only midstate market ranked in the report.

Michael Sadowski

Michael Sadowski

Mike Sadowski covers Lebanon County, banking and finance, law and the legal community, and technology. Have a tip or question for him? Email him at michaels@cpbj.com. Follow him on Twitter, @MikeCPBJ. Circle Michael Sadowski on .

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