TABLE 1


Bank Mergers and Acquisitions, 1980-1997
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.

















TABLE 2


Number of Large Mergers, 1980-19971
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.

















TABLE 3


Number of Banks, Banking Organizations, and Offices, 1980-19971
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).

















TABLE 4


Entry and Exit in Banking, 1980-1997
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.

















TABLE 5


Shares of Domestic Commercial Banking Assets Held by Largest Banking Organizations, 1980-1997
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.

















TABLE 6


Average Three-firm Deposit Concentration Ratio (in percent) based on Insured Commercial Banking Organizations, 1976-1997
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.

















TABLE 7


Average Herfindahl-Hirschman Indexes (HHI) of Metropolitan Statistical Areas and Rural (Non-MSA) Counties, 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.

















TABLE 8


Table 1
Ten Largest U.S. Financial Mergers
Year Value of Deal (  billion) Combined Assets (  billion)
Citicorp/Travelers1998$83$698
Bank of America/Nationsbank1998  60  570
Banc One/First Chicago NBD1998  30  239
First Union/Core States1997  17  206
Nationsbank/Barnett1997  16  284
Wells Fargo/First Interstate1996  12  108
Chase/Chemical1995  11  297
Dean Witter/Morgan Stanley1997  11  261
Wash. Mutual/H.F. Ahmanson1998  10  150
Travelers/Salomon1997  10  160

Source: Wall Street Journal, various issues.

















TABLE 9


Table 2
Banking Concentration by State (1997)
State Top Five Banks' Share of   Deposits State Top Five Banks' Share of   Deposits
Alabama67%Montana54%
Alaska92  Nebraska46  
Arizona89  Nevada79  
Arkansas41  New Hampshire82  
California68  New Jersey66  
Colorado56  New Mexico59  
Connecticut73  New York61  
Delaware73  North Carolina70  
District of Col.86  North Dakota45  
Florida71  Ohio62  
Georgia58  Oklahoma36  
Hawaii99  Oregon83  
Idaho87  Pennsylvania65  
Illinois42  Rhode Island99  
Indiana44  South Carolina66  
Iowa29  South Dakota54  
Kansas29  Tennessee56  
Kentucky39  Texas45  
Louisiana63  Utah79  
Maine79  Vermont81  
Maryland68  Virginia61  
Massachusetts85  Washington77  
Michigan69  West Virginia56  
Minnesota54  Wisconsin57  
Mississippi55  Wyoming64  
Missouri54  

Source: Division of Research and Statistics, Board of Governors of the Federal Reserve System.

















TABLE 10


Table 3
Ten Largest Banks Worldwide (as of Dec. 1997)
Rank Company Country
  1Bank of Tokyo-Mitsubishi Ltd.Japan
  2Deutsche BankGermany
  3Crédit AgricoleFrance
  4Dai-Ichi Kangyo BankJapan
  5Fuji BankJapan
  6Sanwa BankJapan
  7Sumitomo BankJapan
  8Sakura BankJapan
  9HSBC HoldingsHong Kong
10Norinchukin BankJapan

Source: N.Y. Times, Dec. 9, 1997.