Consolidation trends driven by economics and regulatory burden apparently are driving down the numbers of small banks just as they have the ranks of credit unions in recent decades.
Nearly mirroring credit union numbers, the ranks of U.S. banks dropped from approximately 20,000 in 1980 to 6,812 at the end of 2013, with most of that decline attributed to the consolidation of institutions with assets less than $100 million, according to a study released Wednesday by the FDIC.
The number of banks with assets between $100 million and $1 billion increased 7% between 1985 and 2013, while the number of banks with assets between $1 billion and $10 billion increased by 5 %, the report said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
