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4,614 banks
- By the year 2000, there were 8,300 banks in the United States, and that number was cut in half by 2022, with only 4,136 banks still standing. That number is slightly higher today at 4,614 banks.
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- How Many Banks Are There in The U.S.?
- Which States Have The Most Banks?
- Since The 1980s, The Number of Banks in The U.S. Has Declined
- Why Is The Number of Banks in The U.S. Falling?
- Will The Number of Banks in The U.S. Continue to Decline?
- Final Word
There are currently 4,844 insured commercial banks, according to the Federal Deposit Insurance Corporation (FDIC). This figure is current as of the end of 2021. The FDIC reports a new insured bank count every year, and next year’s number is almost certain to be different.
The five states with the most banks as of 2021 are Texas, Illinois, Iowa, Minnesota, and Missouri. All have more than 200 banks. The five states with the fewest banks are Alaska, Hawaii, Vermont, New Hampshire, and Maine. If Washington, D.C., were a state, it would be in the bottom five. These numbers refer to the number of FDIC-insured commercial ...
The FDIC began counting the number of commercial banks in 1934. That year, 14,146 commercial banks were operating in the United States. That number didn’t change much for the next 50 years. After a low of 13,114 in 1959, the U.S. commercial bank count climbed to an all-time high of 14,469 in 1983. The following year, the FDIC began tracking the num...
Three factors explain the decline in the number of banks operating in the U.S.: bank failures, bank mergers, and the lack of new banking charters.
Yes, the number of banks in the U.S. will likely continue to decline for the foreseeable future. I don’t have a crystal ball. But I see no evidence of a change in the two conditions most responsible for today’s decline: ongoing consolidation among existing banks and a near-absence of newly chartered banks. Eventually, the supply of smaller banks wi...
If you pay attention to banking and financial news, you might be confused to learn the banking industry is in a seemingly permanent state of contraction. You hear about a new fintech app every week — maybe every day — and each seems to put its own spin on day-to-day money management. You’re not wrong, but you’re also not getting the full story. Tho...
Jan 31, 2024 · So, how many banks are in the US, and should you worry about your bank closing? In This Article How Many Banks Are in the US? According to the FDIC, there are 4,614 FDIC-insured banks and 2,952 FDIC-supervised banks in the United States as of September 30, 2023.
FDIC Statistics at a Glance. Last Updated: March 7, 2023. Share This: " Statistics at a Glance " provides the latest quarterly and historical key data for FDIC-insured institutions, the FDIC insurance fund, and FDIC staffing.
Dec 9, 2021 · December 09, 2021. By William R. Emmons. The vast majority of commercial banks that have ever operated in the U.S. have disappeared. Since its all-time high of 30,456 in 1921, the bank population had declined to only 4,377 at the end of 2020, a decline of about 86%.
Largest banks in the United States in 2023, by total assets (in billion U.S. dollars)
There were more than 4,000 FDIC-insured commercial banks in the U.S. in 2022. The number of such banks decreased sharply in the last 20 years.
