WASHINGTON–A new report from the Federal Reserve shows there were 109 fewer commercial banks at the end of 2022 compared with one year earlier.
There were also 15 new commercial banks created last year; another 21 of the banks ceased operations, according to the Fed report to Congress.
The report shows there were 4,115 commercial banks at the end of 2022, compared to 4,224 at the end of 2021. Most of the banks (87.7%) in 2022 were affiliated with bank holding companies (BHCs).
The Fed report found commercial banks held $16 trillion in loans and investments (up 9.6%), $16.7 trillion in deposits (up 5.7%) and $2 trillion in equity capital (down 6.97%).
The full report can be found here.
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