Branch numbers up, bank consolidation continues

Northwestern Financial Review, Nov 15-Nov 30, 2004

Despite consolidations in the industry, the branch banking system is robust and growing, according to a report issued by the Federal Deposit Insurance Corp. In the 12 months ending June 30, the number of PDIC-insured institutions declined by 194, but full-service brick and mortar offices increased by 1,471, and the number of full-service retail offices increased by 517.

The report found that Colorado had the greatest percentage of increase between 2003 and 2004 with the number of offices growing by 65.8 percent. Other states with significant growth were Wyoming, Texas, Montana, Nevada, Arkansas and Illinois. The study also found that the number of institutions with offices in two or more states increased from 539 in 2003, to 553 in 2004.