The number of FDIC-insured commercial banks has continued to decline, dropping to 8,178 at the end of 2001:IIQ. Merger activity has remained fairly steady over the past year, with 193 mergers reported in the first half of 2001. In 2001:IIQ, 64 new charters were recorded, compared to 108 in the corresponding period last year. The country’s Central East region showed the greatest growth in mergers and new charters.
Suggested citation: "Banking Conditions," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-11, pp. 16, 11.01.2001.