Despite an environment of heavy bank consolidation, community banks remain highly resilient, thanks mainly to serving thousands of communities that are overlooked by the largest institutions, according to a study by the Federal Deposit Insurance Corp.
For the past 35 years, consolidation has been a major factor in the banking industry. There were about 20,000 bank and thrift charters in the United States in 1980, but that number declined to only 6,812 at the end of 2013.
About 80 percent of the…
Despite an environment of heavy bank consolidation, community banks remain highly resilient, thanks mainly to serving thousands of communities that are overlooked by the largest institutions, according to a study by the Federal Deposit Insurance Corp.
For the past 35 years, consolidation has been a major factor in the banking industry. There were about 20,000 bank and thrift charters in the United States in 1980, but that number declined to only 6,812 at the end of 2013.
About 80 percent of the…