Highlights from 2015 FDIC Branch & Deposit Data

October 14, 2015 at 4:00 PM

The FDIC has released branch and deposit data as of June 30, 2015, through its annual Summary of Deposits report.  Below are some key takeaways on national and state trends in branch counts and deposit levels. Trends in branch counts and deposit levels are also presented by asset tier: banks with assets of less than $1 billion, between $1 billion and $10 billion, and greater than $10 billion.

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  • Over the last ten years, the absolute number of branches in the U.S. has remained essentially flat.  However, since reaching its peak in 2009, the number of branches has declined at an average annual rate of 1.0%, or 1,045 branches per year.  Last year, the number of branches declined by 1.5%, or 1,442 branches.
  • While the number of domestic branches has continued to decline since 2009, national deposit balances have steadily increased over the past ten years.  Since 2005, deposit balances have grown nationwide at an average annual rate of 8.0%, or $472.4 billion per year.  From June 30, 2014, to June 30, 2015, deposit balances increased by 5.4%, or $545.0 billion.
  • The pairing of the continued growth in total deposits with the continued decline in the number of branches appears to be a long-term trend.

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  • Among the 50 states and the District of Columbia, Pennsylvania had the highest rate of deposit growth at 11.9%, from June 30, 2014, to June 30, 2015.  PNC Bank grew deposits in the state by $7.7 billion during that period.  This accounted for 20.4% of total deposit growth in the state.
  • In contrast, deposits in Minnesota decreased by 16.4%, from June 30, 2014, to June 30, 2015.  This drop was driven by a decrease of $48.6 billion in deposits from Wells Fargo, year-over-year.

 3. Bank Asset Tier Growth & Share

  • Banks with assets of between $1 billion and $10 billion and banks with assets of greater than $10 billion increased their shares of total domestic deposits year-over-year.  Banks with assets of less than $1 billion saw their share of domestic deposits decrease from 11.1% to 10.2% over the same time period. 
  • Furthermore, the absolute amount of deposits in banks with assets of less than $1 billion decreased by 3.5%, or $39.9 billion, year-over-year.  This is a continuation of a multi-year decline in total deposits held by such banks.
  • Banks with assets of greater than $10 billion continued to hold the largest share of total deposits (77.8%, or $8.29 trillion).  However, banks with assets of between $1 billion and $10 billion experienced the largest deposit growth rate of all three groups at 9.1%, or $107.0 billion, from June 30, 2014, to June 30, 2015.

 

 

Eileen Sullivan

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