Training/Webinars; Bank Mergers Continue – How Many Banks Were There in 1921?

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Posted To: Pipeline Press

This morning we’ve had the Challenger layoff data and the usual Thursday’s weekly Initial Jobless Claims (and its 4-week moving average). Things aren’t great out there. Aside from the Arch MI layoffs this week, after seeing sales drop during the holidays, Macy’s said it has either closed or will shutter 68 stores and cut an additional 6,200 positions at a time when shoppers are going online to buy… everything. Many banks know a thing or two about servicing . Banks are always in the news, and here are some numbers for anyone who likes them. The number of American banks reached its peak in 1921 with 31,076. At the end of the Depression in the 1930’s we had 14,771. In 1996 we still had 9,528. We are now down to about 5,100 commercial banks . But just imagine what total…(read more)

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