Friday, May 5, 2023
In 1983, the number of FDIC-insured commercial U.S. banks peaked with 14,469 institutions operating 40,853 branches. In 2022, there were 4,135 banks operating 71,190 branches. This is the lowest number of FDIC-insured institutions since reporting began and it begs the question What impact will continued banking consolidation have upon U.S. businesses? It’s a strategic data point worth pondering and, to learn more, Click here for the Statista infographic U.S. Banking System: The Great Consolidation.
Stay safe. Stay healthy. Be strong. Lead well.