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Photo: Community Bank Borrowers
Featured Article filed under Banking, Independent Business | Written by Stacy Mitchell | No Comments | Updated on May 5, 2015

One in Four Local Banks Has Vanished since 2008. Here’s What’s Causing the Decline and Why We Should Treat It as a National Crisis.

The content that follows was originally published on the Institute for Local Self-Reliance website at https://ilsr.org/vanishing-community-banks-national-crisis/

The precipitous decline in the number of community banks in recent years is a national crisis, and there’s a fierce debate underway right now about what’s to blame. Continue reading

Graph: New banks created by year, 1993 to 2013.
Resource filed under Banking | Written by Stacy Mitchell | No Comments | Updated on Apr 22, 2015

Number of New Banks Created by Year, 1993 to 2013

The content that follows was originally published on the Institute for Local Self-Reliance website at https://ilsr.org/number-of-new-banks-created-by-year-1993-to-2013/

The number of community banks has declined sharply in the last few years. Part of the decline is owed to the fact that virtually no new banks have been created since 2009. Between 2004 and 2008, an average of about 300 commercial banks disappeared each year, mostly as a result of mergers. But these losses were offset by the creation of 146 new banks each year on average. From 2009 to 2013, we continued to lose about the same number of banks annually, but gained only 6 new banks on average each year. Continue reading