Number of FDIC-insured commercial bank branches in the U.S. 2000-2017

Number of FDIC-insured commercial bank branches in the United States from 2000 to 2017

by M. Szmigiera, last edited Oct 14, 2019
Number of FDIC-insured commercial bank branches in the U.S. 2000-2017 There were 78,774 branches of FDIC-insured commercial banks in the United States in 2017. After growing from 2000 to 2008, this number has been slowly diminishing in the past few years. In 2018, Wells Fargo had 5,930 branches in the U.S. and led the ranking of banks with the highest number of branches.
What does the FDIC do?

The FDIC (Federal Deposit Insurance Corporation) is an agency created by the United States Congress that guarantees the deposits in commercial banks up to 250,000 U.S. dollars. This protects depositors in the event that the bank becomes insolvent. It also enables banks to issue more loans, since depositors may prefer banks that are insured by the FDIC.

Trends in the banking industry

While the number of branches has stayed relatively stable, the number of FDIC-insured commercial banks has declined in recent years. As younger generations become more accustomed to online and digital banking, the need for bank branches may also wane.
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Number of FDIC-insured commercial bank branches in the United States from 2000 to 2017

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