Hard to believe, but it’s true. Only 6 (Big) banks hold 50% of all industry loans to consumers. While 50 banks hold a full 90%. That means that just 10% of consumer loans were extended by the other 4,500 plus…
Loan Quality: Fair But Partly Cloudy
Between 9/30/22 and 9/30/23, loans 90 days or more past due increased 17.6%. Short-term (30-89 days) past dues increased 9%. We are very curious to see what year-end data looks like as we are already seeing signs of deterioration with…
Bank Branch Closures Exceeded 1,500 in 2023
Last year, over 300 banks shed in excess of 1,500 branch offices. Three Big Banks, Wells Fargo Bank, PNC Bank, and Truist Bank, with a combined net loss of 650 branches, were responsible for 40% of those lost branches. When Big Banks…
Large Bank Acquisitions of 2023
In addition to some very high-profile bank failures, 2023 witnessed several other large bank mergers and acquisitions, in spite of “supposed” increased scrutiny on these combinations. Some of the largest can be found on page 5 of this week’s issue of Jumbo…