Year | Number of bank mergers | Bank assets acquired1 |
---|---|---|
1980 | 190 | 10.18 |
1981 | 359 | 34.07 |
1982 | 420 | 40.87 |
1983 | 428 | 50.05 |
1984 | 441 | 69.82 |
1985 | 475 | 67.12 |
1986 | 573 | 94.41 |
1987 | 649 | 123.29 |
1988 | 468 | 87.71 |
1989 | 350 | 43.39 |
1990 | 366 | 43.74 |
1991 | 345 | 150.29 |
1992 | 401 | 165.42 |
1993 | 436 | 103.05 |
1994 | 446 | 111.76 |
1995 | 345 | 184.44 |
1996 | 312 | 286.07 |
19972 | 207 | 140.51 |
Total | 7,211 | $1,806.19 |
1Asset values in billions of dollars.
21997 numbers are estimated.
Source: Stephen A. Rhoades, Mergers and Acquisitions by Commercial Banks, 1980-1994, Staff Study, Federal Reserve Board (January 1996). Updates supplied by the author.
Year | Number of large mergers | Number of large interstate mergers |
---|---|---|
1980 | 0 | 0 |
1981 | 1 | 0 |
1982 | 2 | 0 |
1983 | 5 | 0 |
1984 | 6 | 0 |
1985 | 9 | 4 |
1986 | 9 | 6 |
1987 | 18 | 11 |
1988 | 14 | 7 |
1989 | 3 | 2 |
1990 | 6 | 2 |
1991 | 16 | 12 |
1992 | 23 | 15 |
1993 | 15 | 10 |
1994 | 15 | 11 |
1995 | 20 | 16 |
1996 | 26 | 14 |
19972 | 15 | 11 |
Total | 203 | 121 |
1Where the acquiring firm and target bank are over $1 billion in assets.
21997 numbers are preliminary.
Source: Stephen A. Rhoades, Bank Mergers and Industrywide Structures, 1980-1994, Staff Study, Federal Reserve Board, 1996. Updated by author.
Year | Banks2 | Banking organizations2 | Number of banking offices3 | Population per banking office4 |
---|---|---|---|---|
1980 | 14,407 | 12,342 | 52,710 | 4,307 |
1985 | 14,268 | 11,021 | 57,417 | 4,145 |
1990 | 12,194 | 9,221 | 63,392 | 3,928 |
1991 | 11,790 | 9,007 | 64,681 | 3,896 |
1992 | 11,349 | 8,730 | 65,122 | 3,916 |
1993 | 10,867 | 8,318 | 63,658 | 4,053 |
1994 | 10,359 | 7,896 | 65,183 | 3,999 |
1995 | 9,855 | 7,571 | 68,228 | 3,861 |
1996 | 9,446 | 7,313 | 68,694 | 3,860 |
1997 | 9,064 | 7,122 | 71,080 | 3,765 |
1Banks are defined as insured commercial banks; banking organizations are defined as bank holding companies and independent commercial banks; and banking offices are defined as insured U.S. commercial banks plus branches owned by insured commercial banks.
2Source: NIC Database, Reports of Condition and Income.
3Number of banking offices=number of insured U.S. commercial banks+number of branches owned by insured U.S. commercial banks. The sources of the branch figures are the Annual Statistical Digest and Annual Report published by the Board of Governors of the Federal Reserve System.
4Population data for 1980-1997 are from the U.S. Department of Commerce (Bureau of Economic Analysis).
Year | Number | ||||
---|---|---|---|---|---|
New insured commercial banks | Failure of insured commercial banks | Mergers and acquisitions | Bank branches
(insured commercial banks) | ||
Openings | Closings | ||||
1980 | 206 | 10 | 190 | 2,099 | 267 |
1981 | 199 | 7 | 359 | 2,175 | 332 |
1982 | 316 | 32 | 420 | 1,575 | 393 |
1983 | 366 | 45 | 428 | 1,281 | 547 |
1984 | 400 | 78 | 441 | 1,363 | 869 |
1985 | 318 | 116 | 475 | 1,407 | 596 |
1986 | 248 | 141 | 573 | 1,250 | 748 |
1987 | 212 | 186 | 649 | 960 | 942 |
1988 | 228 | 209 | 468 | 1,509 | 1,042 |
1989 | 201 | 206 | 350 | 1,730 | 687 |
1990 | 175 | 158 | 366 | 2,722 | 884 |
1991 | 107 | 105 | 345 | 2,273 | 1,428 |
1992 | 73 | 98 | 401 | 1,644 | 1,675 |
1993 | 59 | 40 | 436 | 1,944 | 1,733 |
1994 | 48 | 11 | 446 | 2,713 | 1,151 |
1995 | 110 | 6 | 345 | 2,526 | 1,489 |
1996 | 148 | 5 | 313 | 2,487 | 1,870 |
1997 | 207 | 1 | n.a. | 3,122 | 1,636 |
Total | 3,621 | 1,454 | 7,005 | 34,780 | 18,289 |
Sources: Failure data are from Federal Deposit Insurance Corporation, Statistics on Banking 1934-1996, vol. 1. Mergers and acquisitions data are from Stephen A. Rhoades, Bank Mergers and Industrywide Structure, 1980-1994, Staff Study, Federal Reserve Board, 1996. Updated by author. New bank and branch openings and closings are from the Federal Reserve Board, Annual Statistical Digest, relevant years.
Year | Top 5 | Top 10 | Top 25 | Top 50 | Top 100 |
---|---|---|---|---|---|
1980 | 13.5 | 21.6 | 33.1 | 41.6 | 51.4 |
1981 | 13.2 | 21.1 | 33.2 | 41.6 | 51.6 |
1982 | 13.4 | 21.8 | 34.2 | 43.0 | 53.6 |
1983 | 13.2 | 21.0 | 34.0 | 43.3 | 54.3 |
1984 | 13.0 | 20.4 | 33.3 | 43.7 | 55.4 |
1985 | 12.8 | 20.4 | 33.2 | 45.8 | 57.9 |
1986 | 12.7 | 20.2 | 34.1 | 47.3 | 60.4 |
1987 | 12.6 | 19.9 | 34.8 | 48.5 | 61.9 |
1988 | 12.8 | 20.4 | 35.7 | 51.1 | 64.0 |
1989 | 13.3 | 21.7 | 36.9 | 51.8 | 64.7 |
1990 | 13.1 | 21.8 | 37.8 | 52.7 | 65.4 |
1991 | 16.0 | 24.4 | 40.3 | 53.4 | 65.5 |
1992 | 17.3 | 25.6 | 41.8 | 55.6 | 67.1 |
1993 | 17.6 | 26.9 | 43.8 | 58.0 | 69.2 |
1994 | 18.2 | 27.9 | 45.7 | 59.9 | 71.3 |
1995 | 17.8 | 28.8 | 47.5 | 61.4 | 72.2 |
1996 | 21.1 | 32.9 | 51.0 | 64.3 | 73.5 |
1997 | 22.5 | 33.8 | 52.7 | 66.1 | 74.6 |
Sources: NIC Database, Reports of Condition and Income.
Year | Metropolitan statistical areas | Non-metropolitan counties |
---|---|---|
1976 | 68.4% | 90.0% |
1977 | 67.8 | 89.9 |
1978 | 67.2 | 89.9 |
1979 | 66.7 | 89.7 |
1980 | 66.4 | 89.6 |
1981 | 66.0 | 89.4 |
1982 | 65.8 | 89.3 |
1983 | 65.9 | 89.4 |
1984 | 66.3 | 89.4 |
1985 | 66.7 | 89.4 |
1986 | 67.5 | 89.5 |
1987 | 67.7 | 89.5 |
1988 | 67.8 | 89.7 |
1989 | 67.5 | 89.7 |
1990 | 67.5 | 89.6 |
1991 | 66.7 | 89.3 |
1992 | 67.5 | 89.2 |
1993 | 66.8 | 89.2 |
1994 | 66.6 | 89.0 |
1995 | 66.3 | 88.8 |
1996 | 66.9 | 88.7 |
1997 | 65.4 | 88.3 |
Source: Summary of Deposits, 1976-1997.
Year | Insured commercial banks only
| Insured commercial banks plus 50% of savings banks and savings and loan deposits | ||
---|---|---|---|---|
MSAs | Non-MSA counties | MSAs | Non-MSA counties | |
1976 | 2,087 | 4,520 | N.A. | N.A. |
1977 | 2,043 | 4,493 | N.A. | N.A. |
1978 | 2,021 | 4,471 | N.A. | N.A. |
1979 | 1,986 | 4,438 | N.A. | N.A. |
1980 | 1,973 | 4,417 | N.A. | N.A. |
1981 | 1,958 | 4,372 | N.A. | N.A. |
1982 | 1,961 | 4,360 | N.A. | N.A. |
1983 | 1,948 | 4,350 | N.A. | N.A. |
1984 | 1,958 | 4,358 | 1,366 | 3,781 |
1985 | 1,990 | 4,357 | 1,373 | 3,766 |
1986 | 2,022 | 4,345 | 1,388 | 3,744 |
1987 | 2,014 | 4,334 | 1,402 | 3,754 |
1988 | 2,020 | 4,316 | 1,400 | 3,726 |
1989 | 2,010 | 4,317 | 1,423 | 3,761 |
1990 | 2,010 | 4,291 | 1,468 | 3,788 |
1991 | 1,977 | 4,257 | 1,511 | 3,831 |
1992 | 2,023 | 4,222 | 1,563 | 3,832 |
1993 | 1,994 | 4,234 | 1,588 | 3,887 |
1994 | 1,976 | 4,208 | 1,606 | 3,880 |
1995 | 1,963 | 4,171 | 1,619 | 3,858 |
1996 | 1,991 | 4,145 | 1,639 | 3,844 |
1997 | 1,949 | 4,114 | 1,611 | 3,826 |
Sources: Summary of Deposits data for banks and Survey of Savings data for thrifts. Pre-1985 HHIs calculated using 1985 MSA definitions. 1997 HHIs use 1996 MSA definitions. Other years HHIs based on the year's MSA definitions.
Year | Value of Deal ( billion) | Combined Assets ( billion) | |
---|---|---|---|
Citicorp/Travelers | 1998 | $83 | $698 |
Bank of America/Nationsbank | 1998 | 60 | 570 |
Banc One/First Chicago NBD | 1998 | 30 | 239 |
First Union/Core States | 1997 | 17 | 206 |
Nationsbank/Barnett | 1997 | 16 | 284 |
Wells Fargo/First Interstate | 1996 | 12 | 108 |
Chase/Chemical | 1995 | 11 | 297 |
Dean Witter/Morgan Stanley | 1997 | 11 | 261 |
Wash. Mutual/H.F. Ahmanson | 1998 | 10 | 150 |
Travelers/Salomon | 1997 | 10 | 160 |
Source: Wall Street Journal, various issues.
State | Top Five Banks' Share of Deposits | State | Top Five Banks' Share of Deposits |
---|---|---|---|
Alabama | 67% | Montana | 54% |
Alaska | 92 | Nebraska | 46 |
Arizona | 89 | Nevada | 79 |
Arkansas | 41 | New Hampshire | 82 |
California | 68 | New Jersey | 66 |
Colorado | 56 | New Mexico | 59 |
Connecticut | 73 | New York | 61 |
Delaware | 73 | North Carolina | 70 |
District of Col. | 86 | North Dakota | 45 |
Florida | 71 | Ohio | 62 |
Georgia | 58 | Oklahoma | 36 |
Hawaii | 99 | Oregon | 83 |
Idaho | 87 | Pennsylvania | 65 |
Illinois | 42 | Rhode Island | 99 |
Indiana | 44 | South Carolina | 66 |
Iowa | 29 | South Dakota | 54 |
Kansas | 29 | Tennessee | 56 |
Kentucky | 39 | Texas | 45 |
Louisiana | 63 | Utah | 79 |
Maine | 79 | Vermont | 81 |
Maryland | 68 | Virginia | 61 |
Massachusetts | 85 | Washington | 77 |
Michigan | 69 | West Virginia | 56 |
Minnesota | 54 | Wisconsin | 57 |
Mississippi | 55 | Wyoming | 64 |
Missouri | 54 |
Source: Division of Research and Statistics, Board of Governors of the Federal Reserve System.
Rank | Company | Country |
---|---|---|
1 | Bank of Tokyo-Mitsubishi Ltd. | Japan |
2 | Deutsche Bank | Germany |
3 | Crédit Agricole | France |
4 | Dai-Ichi Kangyo Bank | Japan |
5 | Fuji Bank | Japan |
6 | Sanwa Bank | Japan |
7 | Sumitomo Bank | Japan |
8 | Sakura Bank | Japan |
9 | HSBC Holdings | Hong Kong |
10 | Norinchukin Bank | Japan |
Source: N.Y. Times, Dec. 9, 1997.