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How many Federally Insured Commercial Banks in the USA at the end of 2017?
The U.S. has seen a continued consolidation of the Banking Industry over the past 70+ Years. According to the FDIC, there were over 14,000 FDIC Insured Commercial banks in 1934. Over the next 50 years, the Country maintained similar levels of Commercial Banks (i.e., over 14,000 FDIC Insured Commercial banks in 1984).
However, over the past 30+ years, this number has shrunk rapidly through bank mergers and failures. As of 3rd quarter of 2016, year end, there are just 5,170 banks in the United States; the lowest year end total on record.
Conversely, banks balance sheets have been growing rapidly over the same time horizon. According to the same FDIC report, domestic deposits at these banks as of Q3 2016 are at the highest levels ever, at over $10.5 trillion.
The reasoning for this consolidation are wide ranging, including impacts from the Great Recession (and other past recessions or financial crises), impacts from technology, increased globalization, and increased regulatory burden. Will we continue to see this Industry-wide consolidation in the U.S?
How many Federally Insured Commercial Banking Institutions will there be at the end of 2017?
Resolution will be via the 4th quarter summary from the FDIC for 2017.
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