All Sectors

 

TOP TEN BANK AND THRIFT DEALS ANNOUNCED IN 2011 (1)

($ millions)

Rank Buyer Target (State) Deal value (2)
1 Capital One Financial Corporation ING Bank, FSB (DE) $9,000.0
2 PNC Financial Services Group, Inc. RBC Bank (USA) (GA) 3,450.0
3 Comerica Incorporated Sterling Bancshares, Inc. (TX) 1,028.9
4 People's United Financial, Inc. Danvers Bancorp, Inc. (MA) 488.9
5 Susquehanna Bancshares, Inc. Tower Bancorp, Inc. (PA) 342.1
6 Susquehanna Bancshares, Inc. Abington Bancorp, Inc. (PA) 273.8
7 Valley National Bancorp State Bancorp, Inc. (NY) 266.9
8 Brookline Bancorp, Inc. Bancorp Rhode Island, Inc. (RI) 233.7
9 F.N.B. Corporation Parkvale Financial Corporation (PA) 163.0
10 Industrial and Commercial Bank of China Limited Bank of East Asia (USA), National Association (NY) 140.2

(1) Target is a U.S.-domiciled bank or thrift. List does not include terminated deals.
(2) At announcement.

Source: SNL Financial LC.

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TOP TEN FEDERALLY CHARTERED AND STATE-CHARTERED BANKS BY ASSETS, 2011 (1)

($ billions)

Rank Federally chartered bank (2) Total assets Rank State-chartered bank State Total assets
1 JPMorgan Chase Bank, National Association $1,812 1 The Bank of New York Mellon NY $256
2 Bank of America, National Association 1,452 2 State Street Bank and Trust Company MA 212
3 Citibank, National Association 1,289 3 SunTrust Bank GA 171
4 Wells Fargo Bank, National Association 1,161 4 Branch Banking and Trust Company NC 169
5 U.S. Bank National Association 330 5 Regions Bank AL 123
6 PNC Bank, National Association 263 6 Fifth Third Bank OH 115
7 HSBC Bank USA, National Association 206 7 Goldman Sachs Bank USA NY 104
8 TD Bank, National Association 189 8 The Northern Trust Company IL 100
9 FIA Card Services, National Association 167 9 Ally Bank UT 85
10 Capital One, National Association 133 10 Manufacturers and Traders Trust Company NY 77

(1) As of December 31, 2011.
(2) Chartered by the Office of the Comptroller of the Currency.

Source: Federal Deposit Insurance Corporation.

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PROFITABILITY

In their efforts to maximize profits, commercial banks and other depository institutions must balance credit quality and future economic conditions with liquidity needs and regulatory mandates.

 

PROFITABILITY OF COMMERCIAL BANKS, SAVINGS BANKS AND CREDIT UNIONS, 2007-2011

   Return on equity Return on average assets
Year Commercial banks Savings banks Credit unions
2007 9.12% 1.08% 0.63%
2008 1.31 -7.75 -0.05
2009 -0.93 1.31 0.18
2010 5.86 5.77 0.51
2011 8.06 5.97 0.68

Source: Federal Deposit Insurance Corporation (FDIC); National Credit Union Administration.

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NET INCOME OF COMMERCIAL BANKS, SAVINGS INSTITUTIONS AND CREDIT UNIONS, 2002-2011

($ millions)

  Amount  Percent change from prior year  
Year Commercial
banks (1)
Savings
institutions (1)
Credit
unions (2)
Commercial
banks
Savings
institutions
Credit
unions
2002 $89,132.0 $15,243.4 $5,663.0 4.2% 24.1% NA
2003 102,578.0 18,056.0 5,779.0 15.1 18.5 2.0%
2004 104,724.0 18,246.0 5,789.0 2.1 1.1 0.2
2005 114,016.0 19,894.0 5,658.0 8.9 9.0 -2.3
2006 128,217.0 17,025.0 5,723.0 12.5 -14.4 1.1
2007 97,630.0 2,362.0 4,737.0 -23.9 -86.1 -17.2
2008 15,308.0 -10,759.0 -167.0 -84.3 -555.5 -103.5
2009 -12,296.0 1,677.0 1,673.0 -180.3 (3) (3)
2010 77,377.0 8,119.0 4,586.0 (3) 384.1 174.1
2011 110,380.0 8,291.0 NA 42.7 2.1 (3)

(1) FDIC-insured.
(2) Federally insured credit unions.
(3) Not applicable.

NA=Data not available.

Source: Federal Deposit Insurance Corporation (FDIC); National Credit Union Administration.

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PRIVATE DEPOSITORY INSTITUTIONS

In 2011 the Federal Reserve restructured its Flow of Funds report on U.S. financial sectors, introducing a new sector called private depository institutions comprised of four banking sectors: U.S.-chartered depository institutions (including savings banks and commercial banks); foreign banking offices in the U.S.; banks in U.S.-affiliated areas; and credit unions. In 2011 private depository institutions assets totaled $14.6 trillion, with chartered depository institutions accounting for the largest share (80 percent), followed by foreign banking offices (14 percent), credit unions (6 percent) and banks in U.S.-affiliated areas (1 percent).

ASSETS

 

FINANCIAL ASSETS OF PRIVATE DEPOSITORY INSTITUTIONS, 1980-2011

($ billions, end of year)

Year U.S.-chartered
depository institutions (1)
Foreign banking
offices in U.S.
Banks in U.S.-
affiliated areas (2)
Credit unions Total
1980 $2,036.6 $98.1 $11.6 $58.6 $2,204.9
1990 3,941.4 367.1 25.8 176.2 4,510.5
2000 6,089.4 804.8 61.6 394.8 7,350.6
2005 9,099.8 818.1 106.3 618.9 10,643.1
2008 11,639.0 1,624.8 102.0 748.8 14,114.6
2009 11,257.1 1,267.5 94.7 805.7 13,425.0
2010 11,290.8 1,336.7 79.9 835.8 13,543.2
2011 11,706.4 1,999.4 75.8 853.7 14,635.3

(1) Includes savings banks and commercial banks.
(2) Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam and other U.S.-affiliated insular areas.

Source: Board of Governors of the Federal Reserve System, June 7, 2012.

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FINANCIAL ASSETS OF PRIVATE DEPOSITORY INSTITUTIONS, 2011

(End of year)

(1) Includes savings banks and commercial banks.
(2) Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam and other U.S.-affiliated insular areas.

Source: Board of Governors of the Federal Reserve System, June 7, 2012.

 

EMPLOYMENT IN THE BANKING INDUSTRY, 2008-2012

(000)

Year Commercial banks Savings banks Credit unions Total 
2008 1,357.5 207.6 250.1 1,815.2
2009 1,316.9 191.6 245.3 1,753.8
2010 1,305.9 182.0 240.9 1,728.8
2011 1,314.5 180.6 240.0 1,735.1
2012 1,318.2 176.5 243.4 1,738.1

Source: U.S. Department of Labor, Bureau of Labor Statistics.

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  • In 2012 employment fell 2.3 percent at savings institutions and increased 1.4 percent and 0.3 percent at credit unions and commercial banks, respectively. Overall, banking industry employment grew by 0.2 percent.

BANK BRANCHES

Consolidation has substantially reduced the number of commercial banking institutions but has not reduced consumers’ access to their deposits as commercial bank offices and the number of ATMs continue to grow. However, there are fewer savings institutions and offices than in 1995 and the number of credit unions dropped by 37 percent from 1995 to 2010.

 

NUMBER OF BANKING OFFICES BY TYPE OF BANK, 1995-2011

  1995 2000 2008 2009 2010 2011
All banking offices (1) 92,686 95,808 106,967 107,104     105,856 NA
Commercial bank offices 65,321 71,338 85,285 88,061       87,723 87,876
     Number of institutions 10,166 8,478 7,203 6,995        6,676 6,413
Savings institution offices 15,637 14,135 13,867 11,479       10,784 10,318
     Number of institutions 2,082 1,622 1,227 1,180        1,135 1,100
Credit unions 11,687 10,316 7,806 7,554        7,339 NA
U.S. branches of foreign banks 41 19 11 10             10 10

(1) As of June 30. Includes commercial bank and savings institution offices, credit unions and U.S. branches of
foreign banks.

NA=Data not available.

Source: Federal Deposit Insurance Corporation (FDIC); National Credit Union Administration.

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CREDIT MARKETS

Until about 1950, commercial banks dominated the credit market. While depository institutions continue to be the leading holders of credit assets, asset shares of government-sponsored enterprises have risen over the past two decades.

 

CREDIT MARKET ASSET HOLDINGS, 2007-2011 (1)

($ billions, amount outstanding, end of year)

  2007 2008 2009 2010 2011
Financial sectors          
     Monetary authority $740.6 $986.0 $1,987.7 $2,259.2 $2,635.6
     U.S.-chartered depository institutions (2) 9,201.0 9,442.9 9,131.1 9,341.5 9,468.4
     Foreign banking offices in the U.S. 963.3 1,063.8 777.9 747.1 784.9
     Banks in U.S.-affiliated areas 92.8 90.9 88.1 68.9 64.0
     Credit unions 657.9 697.8 731.0 755.6 790.8
     Property/casualty insurance companies 869.3 853.4 886.7 890.6 918.1
     Life insurance companies 2,871.2 2,882.8 3,022.6 3,174.2 3,323.9
     Private pension funds 860.8 951.4 1,063.0 1,122.4 1,161.2
     State and local govt retirement funds 820.3 833.5 824.7 816.5 834.8
     Federal govt retirement funds 96.1 120.3 127.7 138.7 158.1
     Money market mutual funds 1,936.4 2,675.0 2,031.0 1,621.0 1,628.2
     Mutual funds 2,203.1 2,276.4 2,657.2 3,031.4 3,458.9
     Closed-end funds 170.9 129.9 139.5 144.4 143.3
     Exchange-traded funds 34.0 57.0 102.9 132.6 171.4
     GSEs (3) 2,829.5 3,037.5 2,699.7 6,333.1 6,133.4
     Agency- and GSE (3)-backed mortgage pools 4,464.4 4,961.4 5,376.7 1,139.5 1,304.8
     ABS issuers 4,419.3 4,024.9 3,244.4 2,224.6 1,970.1
     Finance companies 1,816.3 1,734.4 1,516.7 1,539.2 1,488.1
     Real Estate Investment Trusts 246.5 177.6 168.9 206.0 308.9
     Brokers and dealers 803.1 717.4 525.3 557.5 567.2
     Holding companies 59.1 73.0 75.8 97.9 101.1
     Funding corporations 316.0 1,007.7 770.9 848.6 801.2
Total financial sectors $36,472.1 $38,795.1 $37,949.7 $37,190.6 $38,216.3
Total domestic nonfinancial sectors (4) $7,152.9 $6,985.1 $7,514.9 $7,831.8 $7,451.0
Rest of the world $7,272.6 $7,504.6 $7,724.2 $8,374.4 $8,575.7
Total credit market assets held $50,897.6 $53,284.9 $53,188.7 $53,396.7 $54,243.0

(1) Excluding corporate equities and mutual fund shares.
(2) Includes savings banks and commercial banks.
(3) Government-sponsored enterprise.
(4) Includes household, federal and local governments, and selected nonfinancial and nonfarm business sectors.

Source: Board of Governors of the Federal Reserve System, June 7, 2012.

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FOREIGN BANKS IN THE U.S.

 

 

ASSETS OF FOREIGN BANKING OFFICES IN THE UNITED STATES, 2007-2011 (1)

($ billions, end of year)

  2007 2008 2009 2010 2011
Total financial assets $1,048.0 $1,624.8 $1,267.5 $1,336.7 $1,999.4
Reserves at Federal Reserve 1.0 239 284.1 350.8 711.0
Credit market instruments 963.3 1063.8 777.9 747.1 784.9
     U.S. government securities 87.5 86.1 88.8 87.4 91.1
        Treasury 30.4 35.5 57.5 60.9 60.5
        Agency- and GSE (2)-backed securities 57.1 50.6 31.3 26.5 30.6
     Corporate and foreign bonds 369.5 401.6 244.9 233.9 234.5
     Depository institution loans 466.8 531.9 406.5 390.4 426.6
     Other loans and advances 0.5 0.0 0.0 0.0 0.0
     Mortgages 39.0 44.2 37.8 35.4 32.8
Corporate equities 0.0 0.0 0.0 0.1 0.0
Security credit 188.6 62.3 61.6 90.1 131.7
Miscellaneous assets -104.9 259.7 143.9 148.7 371.8

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations and American Express Bank in 2007 and 2008.
(2) Government-sponsored enterprise.

Source: Board of Governors of the Federal Reserve System, June 7, 2012.

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