Wednesday, November 9, 2011

Hey Big Fish: Where Did All the Little Banks Go?


November 9, 2011 (Reno, NV) by Lane Guide --
 
Ever wonder why they don’t put the bank names on the side of the branch with stick-on letters?  It would be so much easier change the bank names each month.  You might be interested to learn how the BIGGEST banks got so big, by swallowing up smaller ones, of course.


In the tank with the mega banks

The chart below to see how these largest mega-banks have by purchase, government actions, succession or serendipity have ended up, swallowing up, so many local and regional banking institutions.  Thousands upon thousands of small communities have lost their local bank to the conglomeration. 

“The Big Banking Fish”

J.P. Morgan Chase
2239 Institutions acquired
Wells Fargo Bank
2219 Institutions acquired
Bank of America
1488 Institutions acquired
Regions Bank
1015 Institutions acquired
U.S. Bank
1011 Institutions acquired
PNC Bank
 885 Institutions acquired
Branch Banking & Trust (BBT)
 709 Institutions acquired
BMO Harris Bank
 490 Institutions acquired
Keybank
 487 Institutions acquired

Data source: Lane Guide


Special Mention:  Federal Deposit Insurance Corp. with 1454 institutions in which they took over without a successor, closed or held certain assets (e.g., loans) of.