Mmastodon BusinessBanking first seen 15 h ago, last 2 h ago, peak #3
Most US banks are small community banks, data shows
Original: 3,178 of the 4,223 FDIC-insured US banks are community banks with under $1 billion in assets. # Banking # Finance # Open
Of the 4,223 banks insured by the Federal Deposit Insurance Corporation in the United States, 3,178 are community banks holding under $1 billion in assets. The figures highlight how the US banking sector, often associated with Wall Street giants, is actually dominated in number by small local institutions serving their communities.
Why now: The breakdown of the US banking landscape into mostly small banks is a surprising and shareable statistic amid ongoing discussion of banking concentration.
FDICUnited Statescommunity banks
Evidence
- 3,178 of the 4,223 FDIC-insured US banks are community banks with under $1 billion in assets. # Banking # Finance # OpenData # sixdegrees · crawlie@sixdegrees.net · 1
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