The Wall Street Journal Reports
here:
The number of federally insured institutions nationwide shrank to 6,891 in the third quarter after this summer falling below 7,000 for the first time since federal regulators began keeping track in 1934, according to the Federal Deposit Insurance Corp.
The decline in bank numbers, from a peak of more than 18,000, has come almost entirely in the form of exits by banks with less than $100 million in assets, with the bulk occurring between 1984 and 2011. More than 10,000 banks left the industry during that period as a result of mergers, consolidations or failures, FDIC data show. About 17% of the banks collapsed. ...
Unlike before the financial crisis, new startup banks aren't rushing to take the place of exiting institutions. Every year from 1934 to 2009, investors in the U.S. chartered at least a few and sometimes hundreds of new banks, according to the FDIC data. The Bank of Bird-in-Hand opened in Bird-in-Hand, Penn., on Monday—it was the first new bank startup in the U.S. since December 2010. ...
While the new bank will offer online deposits and target local customers who aren't Amish, it will also operate a courier service to accommodate customers who might not be able to drive up or log on—a nod to the fact many Amish don't use cars or computers. The drive-through window of the bank's one branch accommodates a horse and buggy, and there is a shelter in the parking lot to shield horses from rain.