Jul
14

Bank Bonanza

banksThe number of FDIC insured institutions peaked at 18,083 in Q1/1986. As of Q1/2015 they numbered 6,419, a 64.5% decline. Bank employment was 1.6 million in Q1/1986, peaked at 2.2 million in Q1/2007, and is now 2 million. Quarterly profitability in Q1/1986 was $4.2 billion. It peaked at $39.8 billion in Q2/2014, and was $39 billion is Q1/2015. Annualized, that’s 1% of GDP and one-tenth of all corporate profits.

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