2023 VOLUME 17 NUMBER 1 

FEDERAL DEPOSIT INSURANCE CORPORATION QUARTERLY

FOURTH QUARTER 

Quarterly Banking Profile 1 

2022 Summary of Deposits Highlights 45 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

The FDIC Quarterly is published by the Division of Insurance and Research of the Federal Deposit Insurance Corporation 

and contains a comprehensive summary of the most current financial results for the banking industry. Feature articles 

appearing in the FDIC Quarterly range from timely analysis of economic and banking trends at the national and regional 

level that may affect the risk exposure of FDIC-insured institutions to research on issues affecting the banking system and 

the development of regulatory policy. 

Single copy subscriptions of the FDIC Quarterly can be obtained through the FDIC Public Information Center, 3501 Fairfax 

Drive, Room E-1002, Arlington, VA 22226. E-mail requests should be sent to publicinfo@fdic.gov. Change of address 

information also should be submitted to the Public Information Center. 

The FDIC Quarterly is available online by visiting the FDIC website at www.fdic.gov. To receive e-mail notification of the 

electronic release of the FDIC Quarterly and the individual feature articles, subscribe at www.fdic.gov/about/subscriptions/ 

index.html. 

Chairman 

Martin J. Gruenberg 

Editors 

Clayton Boyce 

Kathy Zeidler 

Director, Division of Insurance and Research 

Patrick Mitchell Publication Manager 

Lynne Montgomery 

Executive Editors 

George French 

Shayna M. Olesiuk 

Media Inquiries 

(202) 898-6993 

Managing Editors 

John M. Anderlik 

Rosalind Bennett 

Chad M. Boggan 

Michael E. Spencer 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

QUARTERLY BANKING PROFILE: 

FOURTH QUARTER 2022 

FDIC-insured institutions reported aggregate net income of $68.4 billion in 

fourth quarter 2022, a decrease of $3.3 billion (4.6 percent) from the third 

quarter. Lower noninterest income and higher provision expense more than 

offset an increase in net interest income. Year-over-year net income grew 

$4.5 billion (7.1 percent) from fourth quarter 2021 as growth in net interest 

income exceeded growth in provision expense. The banking industry reported 

an aggregate return on average assets ratio of 1.16 percent in the fourth quarter, 

down from 1.21 percent in the third quarter but up from 1.09 percent in fourth 

quarter 2021. See page 1. 

COMMUNITY BANK PERFORMANCE Community banks—which represent 90 percent of insured institutions— 

reported full-year 2022 net income of $30.4 billion, higher than the 

pre-pandemic average but marginally lower than full-year 2021 net income. Net 

income in 2022 was $87.1 million (0.3 percent) lower than in 2021. The decrease 

was attributable to lower noninterest income, higher noninterest expense, 

realized losses on securities, and higher provision expense. The community 

bank pretax return on average assets ratio decreased from 1.54 percent in 2021 to 

1.40 percent in 2022. See page 19. 

INSURANCE FUND INDICATORS The Deposit Insurance Fund (DIF) balance increased by $2.8 billion to 

$128.2 billion. Assessment revenue of $2.1 billion was the largest source of 

income. Interest earned on investments, a net decrease in unrealized losses 

on available-for-sale securities, negative provisions for insurance losses, 

and other miscellaneous income also added to the fund balance. Operating 

expenses partially offset the increase in fund balance. The DIF reserve ratio was 

1.27 percent on December 31, 2022, up 1 basis point from the previous quarter and 

1 basis point higher than the previous year. See page 31. 

Featured Article 

2022 SUMMARY OF DEPOSITS HIGHLIGHTS 

The 2022 Summary of Deposits article evaluates deposit and office trends by 

bank asset size group, community and noncommunity bank designation, and 

county type. A special feature analyzes office openings and closings in locations 

that experienced high in- and out-migration during the COVID-19 pandemic. 

Responses from the 2022 Summary of Deposits survey reflected a moderation 

in deposit growth following extraordinary growth in 2020 and 2021. The 

moderation in the annual deposit growth rate came with a slight deceleration 

in bank office closures. More than two years since the onset of the COVID-19 

pandemic, migration patterns may be influencing office locations. See page 45. 

The views expressed are those of the authors and do not necessarily reflect official positions of the Federal Deposit Insurance Corporation. Some of the information used in the 

preparation of this publication was obtained from publicly available sources that are considered reliable. However, the use of this information does not constitute an endorsement of 

its accuracy by the Federal Deposit Insurance Corporation. Articles may be reprinted or abstracted if the publication and author(s) are credited. Please provide the FDIC’s Division of 

Insurance and Research with a copy of any publications containing reprinted material. 

i 
PAGE INTENTIONALLY LEFT BL ANK 
1 

QUARTERLY 2023 VOLUME 17, NUMBER 1 

INSURED INSTITUTION PERFORMANCE 

Full-Year 2022 Net Income Was Lower Than in 2021, but Still Higher Than the Pre-Pandemic Average1 

Lower Noninterest Income and Higher Provisions Drove a Modest Decline in Net Income Quarter Over Quarter 

The Net Interest Margin Widened for the Third Consecutive Quarter 

Unrealized Losses on Securities Declined Quarter Over Quarter but Remain Elevated 

Broad-Based Loan Growth Continued in the Fourth Quarter 

Asset Quality Remained Favorable Despite Modest Deterioration 

Insured Deposits Increased Moderately 

FULL-YEAR 2022 NET INCOME 

WAS LOWER THAN IN 2021, BUT 

STILL HIGHER THAN THE 

PRE-PANDEMIC AVERAGE 

The banking industry reported full-year 2022 net income that was 

above the pre-pandemic average but lower than full-year 2021 net 

income. Net income in 2022 was $263.0 billion, down $16.1 billion 

(5.8 percent) from 2021. The decrease was primarily attributable to 

higher provision expenses (up $82.6 billion) and higher noninterest 

expense (up $27.4 billion) that more than offset an increase in net 

interest income (up $105.5 billion). The aggregate return on average 

assets (ROAA) ratio decreased from 1.23 percent in 2021 to 1.12 percent 

in 2022. 

QUARTERLY NET INCOME Quarterly net income totaled $68.4 billion in fourth quarter 2022, a 

DECREASED FROM THE decrease of $3.3 billion (4.6 percent) from the third quarter. Lower 

THIRD QUARTER noninterest income and higher provision expense more than offset 

an increase in net interest income. Year-over-year net income grew 

$4.5 billion (7.1 percent) from fourth quarter 2021 as growth in net 

interest income exceeded growth in provision expense. 

Chart 1 Chart 2 

Full-Year Net Income Quarterly Net Income 

All FDIC-Insured Institutions All FDIC-Insured Institutions 

$ Billions Realized Securities Gains/Losses, Net Realized Securities Gains/Losses, Net $ Billions Net Operating Income Net Operating Income 

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 

-20 

0 

20 

40 

60 

80 

100 

120 

140 

160 

180 

200 

220 

240 

260 

280 

-40 

-20 

0 

20 

40 

60 

80 

Source: FDIC. Source: FDIC. 

1 The “pre-pandemic average” refers to the period first quarter 2015 through fourth quarter 2019 and is used consistently throughout this report. 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

The banking industry reported an ROAA of 1.16 percent in the fourth 

quarter, down from 1.21 percent in the third quarter but up from 

1.09 percent in the year-ago quarter. 

THE NET INTEREST MARGIN 

WIDENED FOR THE THIRD 

CONSECUTIVE QUARTER 

The net interest margin (NIM) increased 23 basis points from a quarter 

ago and 82 basis points from the year-ago quarter to 3.37 percent, 

above the pre-pandemic average of 3.25 percent. The year-over-year 

growth in the NIM was the largest reported basis point increase in the 

history of the Quarterly Banking Profile (QBP). 

The average yield on earning assets increased 76 basis points from 

third quarter 2022 to 4.54 percent due to strong loan growth and higher 

market interest rates. This was a slight acceleration over the 73 basispoint increase reported in the prior quarter. Yields on total loans 

increased 73 basis points quarter over quarter to 5.76 percent, a slight 

increase from the previous quarter’s increase of 65 basis points. Yields 

on other earning assets, including balances due from other institutions 

and fed funds sold, also increased. 

Average funding costs increased 53 basis points from the prior quarter 

to 1.17 percent. Higher deposit interest expense was responsible for 

76.3 percent of the quarterly increase in average funding costs. The 

cost of deposits increased 46 basis points quarter over quarter, to 

0.99 percent, an increase over the previous quarter’s 34 basis point 

increase. 

Chart 3 

Quarterly Net Interest Margin 

All FDIC-Insured Institutions 

 Assets > $250 Billion Assets $100 Million - $1 Billion

 Assets $10 Billion - $250 Billion Assets < $100 Million 

Percent Assets $1 Billion - $10 Billion

5.0 

4.5 

4.0 

3.5 

3.0 

2.5 

2.0 

1.5 

1.0 

0.5 

0.0 

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 

Source: FDIC. 

Chart 4 

Change in Quarterly Loan-Loss Provisions 

All FDIC-Insured Institutions 

Quarter-Over-Quarter Change 

($ Billions) 

50 

40 

30 

20 

10 

0 

-10 

-20 

-30 

-40 

-50 

-60 

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 

Source: FDIC. 

2 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

NET OPERATING REVENUE 

DECLINED 1 PERCENT QUARTER 

OVER QUARTER BUT ROSE 

SUBSTANTIALLY YEAR OVER YEAR 

Net operating revenue (net interest income plus noninterest income) 

decreased 1.0 percent quarter over quarter to $242.9 billion in fourth 

quarter 2022 as lower noninterest income (down $13.8 billion, or 

17.9 percent) nearly offset strong net interest income growth (up 

$11.3 billion, or 6.7 percent). Lower “all other noninterest income” 

and lower income on foreign exchange contracts drove the decline in 

noninterest income.2 Interest income grew $39.5 billion (19.5 percent) 

from third quarter 2022 and partially offset a $28.2 billion 

(82.9 percent) increase in interest expense. From the year-ago quarter, 

net operating revenue rose $33.3 billion (15.9 percent) as net interest 

income grew $42.9 billion (31.3 percent), more than offsetting a 

$9.6 billion (13.2 percent) decline in noninterest income. 

NONINTEREST EXPENSE DECLINED Noninterest expense declined $3.4 billion (2.5 percent) quarter over 

QUARTER OVER QUARTER quarter. A decline in “all other noninterest expense” offset increased 

premises and fixed asset costs and increased compensation costs, 

driving the decline in noninterest expense during the quarter.3

 Year 

over year, noninterest expense rose $2.0 billion (1.5 percent), outpacing 

average asset growth of 0.6 percent. As a result, the ratio of noninterest 

expense to average assets increased 2 basis points from the year-ago 

quarter to 2.30 percent but remained well below the pre-pandemic 

average of 2.61 percent. 

Chart 5 Chart 6 

Quarterly Change in Loan Balances Quarterly Change in Deposits 

All FDIC-Insured Institutions All FDIC-Insured Institutions 

Quarterly Change (Le ̃ Axis) Percent $ Billions $ Billions 12-Month Growth Rate (Right Axis) 1,400 500 15 

400 1,200 

10

300 1,000 

200 5 800 

100 600 

0 0 

400 

-100 

-5 200 

-200 

0 -300 -10 

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 -200 Source: FDIC. 

Note: ASC Topics 810 and 860 resulted in the consolidation of large amounts of securitized loan balances -400 back onto banks’ balance sheets in the first quarter of 2010. Although the amount consolidated cannot be 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 precisely quantified, the industry would have reported a decline in loan balances for the quarter absent

this change in accounting standards. Source: FDIC. 

2 “All other noninterest income” includes, but is not limited to, income on bank and credit card interchange fees, income from fees on wire transfers, intracompany 

transactions, and earnings on the cash surrender value of life insurance. 

3 “All other noninterest expense” includes, but is not limited to, expenses related to data processing, advertising and marketing, legal fees, intracompany transactions, and 

consulting and advisory fees. 

3 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

Although the industry reported an aggregate increase in noninterest 

expense year over year, the efficiency ratio (noninterest expense to net 

operating revenue) declined 8.0 percentage points from the year-ago 

quarter to 55.2 percent, led by strong growth in net interest income. 

The efficiency ratio declined for all QBP asset size groups. 

THE LARGEST BANKS CONTINUED 

TO DRIVE THE INCREASE IN 

PROVISION EXPENSE 

Provision expense increased to $20.7 billion from $14.7 billion last 

quarter and negative $732.0 million in the year-ago quarter.4 The net 

number of banks reporting adoption of current expected credit loss 

(CECL) accounting increased by 43 from third quarter 2022 to 392.5 

CECL adopters reported aggregate provisions of $19.1 billion in fourth 

quarter, $7.4 billion more than third quarter 2022 and $20.7 billion 

more than one year ago. Provision expense for banks that have not 

adopted CECL accounting totaled $1.7 billion, down $1.3 billion from a 

quarter ago but up $774.7 million from one year ago. 

The reserve coverage ratio (the ratio of the allowance for credit losses 

to noncurrent loans) for all insured institutions was 217.6 percent at 

fourth quarter 2022, a modest increase from the third quarter 2022 

level of 214.8 percent. The fourth quarter 2022 figure is the highest 

since the data series began in first quarter 1984.6 

Chart 7 Chart 8 

Noncurrent Loan Rate and Quarterly Net Charge-O
 Rate Number and Assets of Banks on the “Problem Bank List” 

All FDIC-Insured Institutions All FDIC-Insured Institutions 

Percent Noncurrent Rate Assets of Problem Banks (Right Axis) Assets 

Quarterly Net Charge-O ̃ Rate Number ($ Billions) Number of Problem Banks (Le ̃ Axis)

1,000 6 500 

900 

5 

800 400 

700 4 600 300 

500

3 

400 200 

300 2 

200 100 

100 1 

0 0 

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 

0 Source: FDIC. 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Note: The asset values of insured financial institutions on the problem bank list are what were on record 

Source: FDIC. as of the last day of the quarter. 

4 Provisions for credit losses include both losses for loans and securities for CECL adopters but only loan losses for non-adopters. 

5 Changes to the number of CECL accounting adopters may result from closures, mergers and acquisitions, or examination or audit findings. 

6 The reserve coverage ratio is the ratio of the allowance for credit losses to the total of loans that are 90 days or more past due plus the total of loans in nonaccrual status. 

4 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

BANKING INDUSTRY 

ASSETS DECLINED 

Total assets declined $31.6 billion (0.1 percent) from third quarter 

2022 to $23.6 trillion. While total loan and lease balances increased 

$225.5 billion (1.9 percent) from third quarter 2022, cash and balances 

due from depository institutions declined $111.9 billion (4.2 percent), 

assets in trading accounts declined $95.5 billion (11.6 percent), and 

total securities declined $40.1 billion (0.7 percent). 

Annually, total assets decreased $119.8 billion (0.5 percent). Total loan 

and lease balances increased $979.9 billion (8.7 percent) but were 

more than offset by declines in cash and balances due from depository 

institutions of $981.2 billion (27.6 percent). Securities also declined 

$361.9 billion (5.8 percent) from one year ago. 

UNREALIZED LOSSES ON 

SECURITIES REMAIN ELEVATED 

Unrealized losses on securities totaled $620.4 billion in the fourth 

quarter, down 10.1 percent ($69.5 billion) from the prior quarter. 

Unrealized losses on held-to-maturity securities totaled $340.9 billion 

while unrealized losses on available-for-sale securities totaled 

$279.5 billion in the fourth quarter. 

LOAN BALANCES INCREASED 

FROM THE PREVIOUS QUARTER 

AND A YEAR AGO 

Total loan and lease balances increased $225.5 billion (1.9 percent) 

from the previous quarter. The banking industry reported growth in 

several loan portfolios during the quarter, including credit card loans 

(up $74.0 billion, or 7.9 percent) and 1–4 family residential loans (up 

$43.8 billion, or 1.8 percent). 

Year over year, total loan and lease balances increased $979.9 billion 

(8.7 percent), driven by growth in commercial and industrial (C&I) 

loans (up $223.3 billion, or 9.7 percent), 1–4 family residential 

mortgages (up $220.5 billion, or 9.8 percent), and consumer loans 

(up $188.6 billion, or 10 percent). The annual increase in loan balances 

was the second largest in the history of the QBP, surpassed only by the 

increase last quarter. 

5 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

TOTAL DEPOSITS DECLINED 

MODERATELY FOR THE THIRD 

QUARTER IN A ROW, BUT 

INSURED DEPOSITS INCREASED 

Despite an increase in insured deposits in the fourth quarter, total 

deposits declined $143.3 billion (0.7 percent) between third quarter 

2022 and fourth quarter 2022. This was the third consecutive quarter 

that the industry reported lower levels of total deposits. A reduction 

in uninsured deposits was the primary driver of the quarterly decline. 

A decline in deposit accounts with balances greater than $250,000 

(down $226.4 billion, or 2.2 percent) led the quarterly reduction. As of 

fourth quarter 2022, deposits represented 81.4 percent of total assets, 

well above the pre-pandemic average of 76.7 percent. The decline in 

deposits in fourth quarter 2022 was accompanied by a $322.5 billion 

(7.5 percent) increase in wholesale funding for the industry from the 

prior quarter.7 

EARLY-STAGE DELINQUENCIES 

CONTINUED TO RISE MODESTLY 

The rate of loans and leases 30 to 89 days past due increased 4 basis 

points from the last quarter and 5 basis points from the year-ago 

quarter to 0.56 percent. The quarterly increase was driven by an 

increase in past-due 1-4 residential mortgage loans and auto loans. 

Despite the recent increase, the overall past-due rate remains below 

the pre-pandemic average of 0.66 percent. 

THE NONCURRENT LOAN RATE 

INCREASED SLIGHTLY FROM 

THE PRIOR QUARTER 

The share of loans and leases 90 days or more past due or in nonaccrual 

status increased 1 basis point from the prior quarter and decreased 

15 basis points from the year-ago quarter to 0.73 percent. From the 

prior quarter, noncurrent credit card loan balances increased most 

among noncurrent loan categories, resulting in an 18 basis point 

increase in the credit card noncurrent rate to 1.19 percent. Half of 

all banks (50.0 percent) reported lower noncurrent loan balances 

compared with third quarter 2022. 

AN INCREASE IN NET LOSSES ON 

CREDIT CARD AND AUTO LOANS 

DROVE AN INCREASE IN THE 

NET CHARGE-OFF RATE 

The annual increase in the net charge off rate for auto loans (up 

83 basis points to 1.13 percent) and credit card loans (up 87 basis 

points to 2.50 percent) drove a 15 basis point increase in the total net 

charge-off rate for all loans and leases to 0.36 percent from the yearago quarter. Despite this increase, the industry’s net charge-off rate 

remains near historic lows. 

7 Wholesale funding includes federal funds purchased and securities sold under agreement to repurchase; Federal Home Loan Bank borrowings; brokered (net of reciprocal 

deposits), municipal and state, and foreign deposits (which are not FDIC insured); other borrowings; and listing services. 

6 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

CAPITAL RATIOS 

REMAINED STRONG 

The leverage capital ratio increased 11 basis points from a quarter 

ago to 8.98 percent. The total risk-based capital ratio increased 

11 basis points to 14.94 percent, and the tier 1 risk-based capital ratio 

increased 7 basis points to 13.65 percent as capital formation outpaced 

risk-weighted asset growth. Equity capital increased $42.6 billion 

(2.0 percent) in fourth quarter 2022, boosted by an improvement in 

accumulated other comprehensive income (up $21.8 billion) from third 

quarter as stabilization in certain market interest rates improved the 

value of some available-for-sale investment securities. 

Retained earnings decreased $22.5 billion (66.6 percent) from a quarter 

ago. Banks distributed 83.5 percent of fourth quarter earnings as 

dividends, up from 52.8 percent reported in third quarter 2022. The 

number of institutions with capital ratios that did not meet Prompt 

Corrective Action requirements for the well-capitalized category 

increased by 1 from third quarter 2022 to 11.8 

THREE BANKS OPENED AND 

NO BANKS FAILED IN 

FOURTH QUARTER 2022 

The number of FDIC-insured institutions declined from 4,746 in third 

quarter to 4,706 this quarter. In fourth quarter, three banks opened 

and 36 institutions merged with other FDIC-insured institutions. 

Seven institutions ceased operations. The number of banks on the 

FDIC’s “Problem Bank List” decreased by 3 from third quarter to 39, 

the lowest level in QBP history. Total assets of problem banks declined 

$116.3 billion to $47.5 billion.9 No banks failed in the fourth quarter. 

Author: 

James K. Presley-Nelson 

Senior Financial Analyst 

Division of Insurance and Research 

8 Prompt Corrective Action categories are assigned based on reported capital ratios only and do not include the effects of regulatory downgrades. 

9 The asset value of insured financial institutions on the Problem Bank List is the amount known on the last day of third quarter 2022, the most current information available 

on December 31, 2022. 

7 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

TABLE I-A. Selected Indicators, All FDIC-Insured Institutions* 

Return on assets (%) 

Return on equity (%) 

Core capital (leverage) ratio (%) 

Noncurrent assets plus other real estate owned to assets (%) 

Net charge-offs to loans (%) 

Asset growth rate (%) 

Net interest margin (%) 

Net operating income growth (%) 

Number of institutions reporting 

Commercial banks 

Savings institutions 

Percentage of unprofitable institutions (%) 

Number of problem institutions 

Assets of problem institutions (in billions)** 

Number of failed institutions 

2022 2021 2020 2019 2018 2017 2016 

1.12 1.23 0.72 1.29 1.35 0.97 1.04 

11.83 12.21 6.85 11.38 11.98 8.60 9.27 

8.98 8.73 8.82 9.66 9.70 9.63 9.48 

0.39 0.44 0.61 0.55 0.60 0.73 0.86 

0.27 0.25 0.50 0.52 0.48 0.50 0.47 

-0.51 8.46 17.29 3.92 3.03 3.79 5.09 

2.95 2.54 2.82 3.36 3.40 3.25 3.13 

-3.60 96.89 -38.77 -3.14 45.45 -3.27 4.43 

4,706 4,839 5,002 5,177 5,406 5,670 5,913 

4,127 4,232 4,375 4,518 4,715 4,918 5,112 

579 607 627 659 691 752 801 

3.40 3.10 4.68 3.73 3.46 5.61 4.48 

39 44 56 51 60 95 123 

$47 $170 $56 $46 $48 $14 $28 

0 0 4 4 0 8 5 

* Excludes insured branches of foreign banks (IBAs).

** Assets shown are what were on record as of the last day of the quarter. 

8 
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2023 VOLUME 17, NUMBER 1 

TABLE II-A. Aggregate Condition and Income Data, All FDIC-Insured Institutions 

(dollar figures in millions) 4th Quarter 

2022 

3rd Quarter 

2022 

4th Quarter 

2021 

%Change

21Q4-22Q4 

Number of institutions reporting 4,706 4,746 4,839 -2.7 

Total employees (full-time equivalent) 

CONDITION DATA 

2,124,274 2,114,159 2,069,043 2.7 

Total assets $23,600,014 $23,631,650 $23,719,827 -0.5 

Loans secured by real estate 5,766,020 5,651,736 5,259,867 9.6 

1-4 Family residential mortgages 2,479,491 2,435,702 2,259,041 9.8 

Nonfarm nonresidential 1,777,451 1,746,329 1,646,474 8.0 

Construction and development 467,649 447,240 401,583 16.5 

Home equity lines 273,008 270,561 265,103 3.0 

Commercial & industrial loans 2,533,139 2,502,942 2,309,808 9.7 

Loans to individuals 2,070,610 2,001,069 1,881,992 10.0 

Credit cards 1,009,401 935,418 871,083 15.9 

Farm loans 76,759 74,555 74,103 3.6 

Other loans & leases 1,782,289 1,772,993 1,723,336 3.4 

Less: Unearned income 1,942 1,897 2,130 -8.8 

Total loans & leases 12,226,876 12,001,398 11,246,976 8.7 

Less: Reserve for losses* 195,300 185,556 178,207 9.6 

Net loans and leases 12,031,576 11,815,842 11,068,769 8.7 

Securities** 5,884,011 5,924,089 6,245,863 -5.8 

Other real estate owned 2,596 2,731 2,962 -12.3 

Goodwill and other intangibles 430,077 425,538 404,354 6.4 

All other assets 5,251,754 5,463,450 5,997,879 -12.4 

Total liabilities and capital 23,600,014 23,631,650 23,719,827 -0.5 

Deposits 19,214,554 19,357,843 19,701,959 -2.5 

Domestic office deposits 17,725,365 17,892,188 18,189,582 -2.6 

Foreign office deposits 1,489,189 1,465,655 1,512,378 -1.5 

Other borrowed funds 1,351,863 1,254,368 955,344 41.5 

Subordinated debt 65,187 63,299 66,395 -1.8 

All other liabilities 761,090 791,405 636,516 19.6 

Total equity capital (includes minority interests) 2,207,319 2,164,735 2,359,612 -6.5 

Bank equity capital 2,205,131 2,162,573 2,357,415 -6.5 

Loans and leases 30-89 days past due 67,938 61,309 57,149 18.9 

Noncurrent loans and leases 89,772 86,378 99,712 -10.0 

Restructured loans and leases 44,047 43,436 42,763 3.0 

Mortgage-backed securities 3,150,227 3,201,072 3,557,068 -11.4 

Earning assets 21,399,647 21,397,390 21,767,776 -1.7 

FHLB Advances 587,434 444,563 188,537 211.6 

Unused loan commitments 9,569,225 9,498,940 9,031,541 6.0 

Trust assets 18,095,425 17,544,643 20,321,262 -11.0 

Assets securitized and sold 392,093 407,752 450,501 -13.0 

Notional amount of derivatives 192,875,611 198,385,321 179,313,889 7.6 

INCOME DATA 

Total interest income 

Total interest expense 

Net interest income 

Provision for credit losses*** 

Total noninterest income 

Total noninterest expense 

Securities gains (losses) 

Applicable income taxes 

Extraordinary gains, net**** 

Total net income (includes minority interests) 

Bank net income 

Net charge-offs 

Cash dividends 

Retained earnings 

Net operating income 

Full Year Full Year 4th Quarter 4th Quarter %Change 

2022 2021 %Change 2022 2021 21Q4-22Q4 

$750,904 $563,569 33.2 $242,241 $145,382 66.6 

117,968 36,143 226.4 62,324 8,327 648.5 

632,935 527,427 20.0 179,917 137,055 31.3 

51,571 -30,998 N/M 20,746 -732 N/M 

290,957 300,416 -3.2 63,028 72,600 -13.2 

537,570 510,165 5.4 135,419 133,453 1.5 

-3,903 3,010 N/M -1,742 574 N/M 

67,328 72,409 -7.0 16,592 13,627 21.8 

-232 47 N/M 28 16 75.0 

263,288 279,324 -5.7 68,476 63,896 7.2 

263,029 279,121 -5.8 68,410 63,862 7.1 

31,428 27,359 14.9 10,863 5,720 89.9 

152,293 156,162 -2.5 57,116 41,499 37.6 

110,735 122,960 -9.9 11,293 22,362 -49.5 

266,876 276,843 -3.6 70,055 63,413 10.5 

* For institutions that have adopted ASU 2016-13, this item represents the allowance for credit losses on loans and leases held for investment and allocated transfer risk.

** For institutions that have adopted ASU 2016-13, securities are reported net of allowances for credit losses.

*** For institutions that have adopted ASU 2016-13, this item represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13,

this item represents the provision for loan and lease losses.

**** See Notes to Users for explanation. N/M - Not Meaningful 

9 
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2023 VOLUME 17, NUMBER 1 

TABLE III-A. Full Year 2022, All FDIC-Insured Institutions 

Asset Concentration Groups* 

Inter- Other 

FULL YEAR All Insured Credit Card national Agricultural Commercial Mortgage Consumer Specialized All Other All Other 

(The way it is...) Institutions Banks Banks Banks Lenders Lenders Lenders <$1 Billion <$1 Billion >$1 Billion 

Number of institutions reporting 4,706 10 5 1,054 2,501 320 35 300 410 71 

Commercial banks 4,127 9 5 1,041 2,268 94 27 275 349 59 

Savings institutions 579 1 0 13 233 226 8 25 61 12 

Total assets (in billions) $23,600.0 $452.7 $5,745.9 $298.5 $8,139.1 $720.6 $590.4 $70.3 $95.9 $7,486.6 

Commercial banks 22,319.5 356.4 5,745.9 292.4 7,730.4 151.6 584.8 65.6 81.8 7,310.5 

Savings institutions 1,280.6 96.3 0.0 6.1 408.8 569.0 5.6 4.6 14.1 176.1 

Total deposits (in billions) 19,214.6 339.2 4,488.3 257.5 6,660.1 631.7 494.2 61.1 84.2 6,198.2 

Commercial banks 18,132.6 264.9 4,488.3 253.5 6,333.4 125.0 489.5 58.0 72.4 6,047.6 

Savings institutions 1,082.0 74.3 0.0 4.0 326.7 506.8 4.7 3.1 11.8 150.6 

Bank net income (in millions) 263,029 15,015 55,970 3,584 93,074 6,641 7,444 1,461 974 78,865 

Commercial banks 250,014 12,112 55,970 3,425 89,012 1,669 7,416 642 896 78,870 

Savings institutions 13,015 2,903 0 159 4,062 4,971 28 819 78 -4 

Performance Ratios (%) 

Yield on earning assets 3.50 11.87 2.99 3.84 3.75 2.31 4.27 2.96 3.57 3.21 

Cost of funding earning assets 0.55 1.51 0.67 0.46 0.45 0.36 0.93 0.32 0.35 0.50 

Net interest margin 2.95 10.36 2.32 3.38 3.30 1.96 3.34 2.64 3.22 2.71 

Noninterest income to assets 1.23 6.84 1.56 0.56 0.89 0.40 1.02 5.93 0.87 1.12 

Noninterest expense to assets 2.28 9.51 2.15 2.25 2.27 1.16 1.96 5.71 2.68 2.10 

Credit loss provision to assets** 0.22 2.49 0.19 0.05 0.14 0.02 0.47 0.03 0.04 0.21 

Net operating income to assets 1.13 3.68 0.99 1.25 1.19 0.88 1.32 2.06 1.03 1.04 

Pretax return on assets 1.40 4.77 1.23 1.39 1.48 1.10 1.74 2.48 1.15 1.27 

Return on assets 1.12 3.68 0.95 1.22 1.18 0.86 1.33 1.99 1.02 1.03 

Return on equity 11.83 31.61 10.58 13.26 11.81 13.48 15.63 17.98 11.36 10.97 

Net charge-offs to loans and leases 0.27 2.12 0.32 0.04 0.11 0.01 0.38 0.13 0.04 0.31 

Loan and lease loss provision to

net charge-offs 159.84 138.39 172.80 196.46 180.97 406.53 161.62 85.47 211.07 155.15 

Efficiency ratio 57.71 56.26 59.06 59.94 57.47 50.15 46.84 68.45 68.83 58.25 

% of unprofitable institutions 3.40 0.00 0.00 1.80 2.52 9.06 8.57 10.67 2.20 7.04 

% of institutions with earnings gains 56.25 30.00 20.00 45.92 60.06 58.13 51.43 59.33 56.59 60.56 

Condition Ratios (%) 

Earning assets to total assets 90.68 95.70 88.43 93.38 90.92 96.12 94.28 92.76 93.52 90.86 

Loss allowance to: 

Loans and leases 1.60 6.46 1.88 1.34 1.21 0.62 1.46 1.60 1.26 1.61 

Noncurrent loans and leases 217.55 520.12 275.64 267.97 176.06 152.38 333.71 236.67 227.23 189.08 

Noncurrent assets plus 

other real estate owned to assets 0.39 1.06 0.23 0.35 0.48 0.15 0.34 0.22 0.33 0.42 

Equity capital ratio 9.34 10.71 9.26 8.66 9.76 5.27 8.15 10.27 8.35 9.38 

Core capital (leverage) ratio 8.98 11.53 8.20 10.58 9.55 8.70 9.23 14.02 10.94 8.68 

Common equity tier 1 capital ratio*** 13.56 12.87 16.01 13.68 11.83 23.08 12.47 29.03 17.31 13.78 

Tier 1 risk-based capital ratio*** 13.65 13.03 16.08 13.68 11.90 23.08 13.40 29.03 17.31 13.83 

Total risk-based capital ratio*** 14.94 14.90 17.26 14.75 13.14 23.55 14.42 29.90 18.35 15.30 

Net loans and leases to deposits 62.62 106.37 41.37 72.14 80.59 38.93 89.70 30.88 61.47 56.49 

Net loans to total assets 50.98 79.69 32.31 62.24 65.94 34.13 75.08 26.85 53.97 46.77 

Domestic deposits to total assets 75.11 74.91 55.46 86.28 81.73 87.51 83.70 86.97 87.77 80.41 

Structural Changes 

New reporters 15 0 0 1 0 0 0 14 0 0 

Institutions absorbed by mergers 134 0 1 20 98 2 0 4 3 6 

Failed institutions 0 0 0 0 0 0 0 0 0 0 

PRIOR FULL YEARS 

(The way it was...) 

Number of institutions 2021 4,839 12 5 1,121 2,417 293 33 357 506 95 

2019 5,177 12 5 1,291 2,733 393 58 210 428 47 

2017 5,670 11 5 1,389 2,944 420 59 272 510 60 

Total assets (in billions) 2021 $23,719.8 $499.8 $5,827.2 $302.8 $7,372.1 $776.3 $353.0 $83.4 $130.4 $8,374.9 

2019 18,645.7 530.8 4,481.5 283.6 6,735.8 392.7 230.7 38.3 76.3 5,876.2 

2017 17,415.4 562.7 4,196.0 282.6 6,026.0 349.2 270.9 46.9 88.8 5,592.2 

Return on assets (%) 2021 1.23 5.32 1.09 1.33 1.24 0.88 1.98 1.66 1.06 1.05 

2019 1.29 3.27 1.23 1.33 1.18 1.20 1.21 3.56 1.17 1.27 

2017 0.97 1.52 0.62 1.05 1.02 0.93 1.02 2.61 0.91 1.10 

Net charge-offs to loans & leases (%) 2021 0.25 2.00 0.38 0.05 0.11 0.01 0.27 0.08 0.04 0.20 

2019 0.52 4.15 0.72 0.18 0.20 0.03 0.82 0.17 0.13 0.39 

2017 0.50 3.95 0.56 0.16 0.21 0.04 0.60 0.23 0.15 0.43 

Noncurrent assets plus

OREO to assets (%) 2021 0.44 0.78 0.28 0.47 0.55 0.18 0.48 0.27 0.39 0.46 

2019 0.55 1.39 0.33 0.81 0.60 1.18 0.48 0.45 0.62 0.52 

2017 0.73 1.25 0.51 0.77 0.70 1.70 0.36 0.59 0.81 0.82 

Equity capital ratio (%) 2021 9.94 12.56 9.20 10.78 10.71 8.17 9.00 12.96 10.79 9.74 

2019 11.32 12.81 10.20 11.85 12.27 10.94 10.41 18.48 12.79 10.93 

2017 11.22 15.10 9.83 11.18 11.95 11.21 10.00 15.26 11.94 11.09 

* See Table V-A (page 14) for explanations.

** For institutions that have adopted ASU 2016-13, the numerator represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13, the

numerator represents the provision for loan and lease losses.

*** Beginning March 2020, does not include institutions that have a Community Bank Leverage Ratio election in effect at the report date. 

10 
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2023 VOLUME 17, NUMBER 1 

TABLE III-A. Full Year 2022, All FDIC-Insured Institutions 

Asset Size Distribution Geographic Regions* 

Less Than $100 $1 Billion $10 Billion Greater 

FULL YEAR All Insured $100 Million to to $10 to $250 Than $250 Kansas San 

(The way it is...) Institutions Million $1 Billion Billion Billion Billion New York Atlanta Chicago City Dallas Francisco 

Number of institutions reporting 4,706 761 2,964 823 145 13 558 534 1,011 1,198 1,053 352 

Commercial banks 4,127 666 2,632 687 130 12 295 488 874 1,161 987 322 

Savings institutions 579 95 332 136 15 1 263 46 137 37 66 30 

Total assets (in billions) $23,600.0 $46.3 $1,098.1 $2,277.3 $7,091.4 $13,086.9 $4,547.5 $4,614.2 $5,575.4 $4,243.2 $1,992.9 $2,626.8 

Commercial banks 22,319.5 41.1 968.0 1,945.7 6,626.5 12,738.1 4,177.3 4,560.1 5,504.3 4,187.9 1,416.6 2,473.2 

Savings institutions 1,280.6 5.2 130.1 331.6 464.9 348.7 370.2 54.0 71.0 55.3 576.3 153.6 

Total deposits (in billions) 19,214.6 39.0 948.4 1,899.1 5,796.8 10,531.2 3,690.8 3,825.2 4,360.7 3,468.8 1,710.9 2,158.2 

Commercial banks 18,132.6 35.2 841.9 1,631.7 5,418.7 10,205.2 3,388.5 3,786.6 4,309.0 3,421.7 1,192.4 2,034.3 

Savings institutions 1,082.0 3.9 106.6 267.4 378.1 326.0 302.3 38.5 51.7 47.0 518.5 123.9 

Bank net income (in millions) 263,029 400 12,854 28,652 86,391 134,732 45,803 53,739 61,713 40,775 22,778 38,220 

Commercial banks 250,014 354 11,149 25,788 81,135 131,587 43,075 53,992 60,221 40,170 17,902 34,652 

Savings institutions 13,015 46 1,704 2,864 5,256 3,145 2,728 -253 1,492 605 4,875 3,568 

Performance Ratios (%) 

Yield on earning assets 3.50 3.58 3.88 4.11 3.92 3.14 3.52 3.48 3.10 3.60 3.36 4.29 

Cost of funding earning assets 0.55 0.36 0.42 0.48 0.59 0.55 0.70 0.41 0.53 0.61 0.37 0.64 

Net interest margin 2.95 3.22 3.46 3.63 3.33 2.58 2.82 3.07 2.57 2.98 3.00 3.65 

Noninterest income to assets 1.23 1.56 1.09 1.10 1.22 1.27 1.16 1.03 1.47 1.08 0.81 1.79 

Noninterest expense to assets 2.28 3.50 2.84 2.65 2.38 2.12 2.16 2.18 2.21 2.35 2.14 2.80 

Credit loss provision to assets** 0.22 0.03 0.08 0.19 0.29 0.20 0.23 0.24 0.17 0.17 0.09 0.45 

Net operating income to assets 1.13 0.87 1.21 1.32 1.27 1.02 1.05 1.16 1.11 0.98 1.13 1.52 

Pretax return on assets 1.40 0.98 1.39 1.62 1.61 1.26 1.30 1.37 1.38 1.24 1.37 1.95 

Return on assets 1.12 0.84 1.19 1.30 1.25 1.01 1.03 1.15 1.09 0.97 1.13 1.49 

Return on equity 11.83 6.73 12.39 13.14 12.82 11.02 10.43 11.64 12.03 10.34 13.45 15.51 

Net charge-offs to loans and leases 0.27 0.06 0.05 0.15 0.28 0.32 0.26 0.34 0.18 0.27 0.09 0.43 

Loan and lease loss provision to

net charge-offs 159.84 105.64 246.96 192.78 160.89 153.28 169.01 137.53 206.15 137.50 184.40 161.81 

Efficiency ratio 57.71 76.75 65.28 58.59 54.69 58.58 57.59 56.69 58.04 61.82 58.89 53.23 

% of unprofitable institutions 3.40 10.38 2.19 1.58 2.07 0.00 4.66 5.24 3.56 1.75 2.47 6.53 

% of institutions with earnings gains 56.25 51.77 56.34 60.39 55.17 46.15 59.86 70.04 54.10 42.82 64.77 55.97 

Condition Ratios (%) 

Earning assets to total assets 90.68 92.70 93.60 92.85 92.12 89.26 90.54 89.94 89.30 90.37 92.84 93.97 

Loss allowance to: 

Loans and leases 1.60 1.39 1.29 1.29 1.57 1.75 1.57 1.60 1.52 1.69 1.18 1.90 

Noncurrent loans and leases 217.55 162.78 272.50 201.47 218.13 216.90 181.14 222.72 226.19 217.61 145.42 335.22 

Noncurrent assets plus 

other real estate owned to assets 0.39 0.51 0.34 0.47 0.46 0.35 0.47 0.39 0.33 0.39 0.44 0.37 

Equity capital ratio 9.34 12.37 9.23 9.65 9.51 9.20 9.84 9.73 9.24 9.21 7.83 9.38 

Core capital (leverage) ratio 8.98 14.19 11.03 10.43 9.42 8.29 9.32 8.61 8.68 8.79 9.36 9.70 

Common equity tier 1 capital ratio*** 13.56 22.28 15.24 13.37 12.89 13.91 13.67 12.64 14.18 13.21 14.38 13.77 

Tier 1 risk-based capital ratio*** 13.65 22.28 15.29 13.41 13.08 13.95 13.72 12.70 14.24 13.29 14.50 14.02 

Total risk-based capital ratio*** 14.94 23.31 16.38 14.44 14.33 15.33 15.03 13.85 15.60 14.86 15.57 15.14 

Net loans and leases to deposits 62.62 62.57 72.80 81.01 75.71 51.18 64.99 62.62 58.48 58.16 59.10 76.84 

Net loans to total assets 50.98 52.74 62.88 67.55 61.89 41.18 52.75 51.92 45.74 47.55 50.74 63.13 

Domestic deposits to total assets 75.11 84.28 86.37 83.29 80.29 69.9 76.96 80.29 69.02 66.57 85.82 81.38 

Structural Changes 

New reporters 15 15 0 0 0 0 3 4 0 1 2 5 

Institutions absorbed by mergers 134 29 67 29 9 0 26 11 23 39 29 6 

Failed institutions 0 0 0 0 0 0 0 0 0 0 0 0 

PRIOR FULL YEARS 

(The way it was...) 

Number of institutions 2021 4,839 817 3,049 813 147 13 577 551 1,040 1,237 1,075 359 

2019 5,177 1,156 3,225 656 130 10 625 587 1,118 1,330 1,138 379 

2017 5,670 1,407 3,513 627 114 9 693 668 1,214 1,438 1,235 422 

Total assets (in billions) 2021 $23,719.8 $50.0 $1,125.0 $2,221.9 $7,076.0 $13,246.9 $4,454.8 $4,787.8 $5,666.0 $4,198.7 $2,041.6 $2,570.9 

2019 18,645.7 68.6 1,087.9 1,753.9 6,071.6 9,663.8 3,407.7 3,847.5 4,235.6 3,796.7 1,204.6 2,153.7 

2017 17,415.4 83.7 1,154.2 1,751.7 5,699.2 8,726.7 3,248.1 3,601.0 3,918.1 3,683.2 1,090.0 1,875.1 

Return on assets (%) 2021 1.23 1.04 1.29 1.41 1.46 1.07 1.08 1.26 1.25 1.10 1.12 1.71 

2019 1.29 1.02 1.29 1.30 1.35 1.26 1.09 1.29 1.34 1.20 1.32 1.66 

2017 0.97 0.83 1.04 1.05 1.04 0.89 0.85 1.00 1.00 0.76 1.12 1.36 

Net charge-offs to loans & leases (%) 2021 0.25 0.07 0.06 0.12 0.30 0.27 0.26 0.26 0.19 0.31 0.10 0.33 

2019 0.52 0.21 0.14 0.21 0.70 0.51 0.48 0.58 0.42 0.53 0.24 0.78 

2017 

Noncurrent assets plus

0.50 0.21 0.15 0.22 0.71 0.47 0.58 0.61 0.27 0.51 0.28 0.67 

OREO to assets (%) 2021 0.44 0.58 0.42 0.44 0.56 0.37 0.45 0.39 0.37 0.49 0.69 0.35 

2019 0.55 0.94 0.70 0.57 0.62 0.48 0.51 0.57 0.49 0.61 0.84 0.42 

2017 0.73 1.01 0.83 0.66 0.70 0.74 0.65 0.83 0.67 0.86 0.81 0.45 

Equity capital ratio (%) 2021 9.94 13.49 10.83 10.86 10.31 9.50 10.32 10.21 9.52 9.81 9.64 10.14 

2019 11.32 14.27 12.01 12.03 11.86 10.76 11.83 12.23 10.89 10.24 12.16 11.15 

2017 11.22 13.01 11.29 11.82 12.13 10.47 12.34 12.06 10.42 9.99 11.49 11.58 

* See Table V-A (page 15) for explanations.

** For institutions that have adopted ASU 2016-13, the numerator represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13, the

numerator represents the provision for loan and lease losses.

*** Beginning March 2020, does not include institutions that have a Community Bank Leverage Ratio election in effect at the report date. 

11 
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2023 VOLUME 17, NUMBER 1 

TABLE IV-A. Fourth Quarter 2022, All FDIC-Insured Institutions 

Asset Concentration Groups* 

Inter- Other 

FOURTH QUARTER All Insured Credit Card national Agricultural Commercial Mortgage Consumer Specialized All Other All Other 

(The way it is...) Institutions Banks Banks Banks Lenders Lenders Lenders <$1 Billion <$1 Billion >$1 Billion 

Number of institutions reporting 4,706 10 5 1,054 2,501 320 35 300 410 71 

Commercial banks 4,127 9 5 1,041 2,268 94 27 275 349 59 

Savings institutions 579 1 0 13 233 226 8 25 61 12 

Total assets (in billions) $23,600.0 $452.7 $5,745.9 $298.5 $8,139.1 $720.6 $590.4 $70.3 $95.9 $7,486.6 

Commercial banks 22,319.5 356.4 5,745.9 292.4 7,730.4 151.6 584.8 65.6 81.8 7,310.5 

Savings institutions 1,280.6 96.3 0.0 6.1 408.8 569.0 5.6 4.6 14.1 176.1 

Total deposits (in billions) 19,214.6 339.2 4,488.3 257.5 6,660.1 631.7 494.2 61.1 84.2 6,198.2 

Commercial banks 18,132.6 264.9 4,488.3 253.5 6,333.4 125.0 489.5 58.0 72.4 6,047.6 

Savings institutions 1,082.0 74.3 0.0 4.0 326.7 506.8 4.7 3.1 11.8 150.6 

Bank net income (in millions) 68,410 3,460 14,897 894 26,092 1,609 1,486 480 254 19,238 

Commercial banks 65,695 2,903 14,897 858 24,845 322 1,480 219 225 19,946 

Savings institutions 2,714 557 0 36 1,247 1,287 6 261 28 -709 

Performance Ratios (annualized, %) 

Yield on earning assets 4.54 13.24 4.29 4.38 4.65 2.89 5.14 3.65 4.05 4.21 

Cost of funding earning assets 1.17 2.57 1.51 0.76 0.98 0.81 1.82 0.54 0.57 1.04 

Net interest margin 3.37 10.68 2.78 3.61 3.67 2.09 3.32 3.11 3.49 3.16 

Noninterest income to assets 1.07 6.80 1.43 0.56 0.81 0.39 0.87 6.54 0.81 0.79 

Noninterest expense to assets 2.30 9.48 2.25 2.39 2.31 1.26 1.99 6.14 2.77 1.98 

Credit loss provision to assets** 0.35 3.63 0.28 0.10 0.22 0.02 0.65 0.00 0.07 0.38 

Net operating income to assets 1.19 3.15 1.07 1.28 1.30 0.89 1.02 2.70 1.10 1.07 

Pretax return on assets 1.44 3.93 1.31 1.38 1.61 1.10 1.36 3.35 1.20 1.25 

Return on assets 1.16 3.15 1.03 1.21 1.30 0.88 1.02 2.73 1.06 1.02 

Return on equity 12.56 29.05 11.30 14.19 13.46 16.39 12.48 27.29 12.98 10.96 

Net charge-offs to loans and leases 0.36 2.54 0.40 0.10 0.15 0.02 0.55 0.21 0.07 0.44 

Loan and lease loss provision to

net charge-offs 187.71 168.75 217.32 151.76 204.82 389.63 151.22 -3.40 170.34 182.09 

Efficiency ratio 55.19 55.21 57.51 60.14 55.00 52.44 49.71 64.84 67.76 53.55 

% of unprofitable institutions 5.65 10.00 0.00 6.17 3.60 12.81 17.14 12.00 5.12 8.45 

% of institutions with earnings gains 69.97 40.00 60.00 70.78 70.13 65.00 54.29 73.00 72.20 61.97 

Structural Changes 

New reporters 3 0 0 1 0 0 0 2 0 0 

Institutions absorbed by mergers 36 0 0 5 30 0 0 0 0 1 

Failed institutions 0 0 0 0 0 0 0 0 0 0 

PRIOR FOURTH QUARTERS 

(The way it was...) 

Return on assets (%) 2021 1.09 4.42 0.86 1.06 1.14 0.88 1.90 1.57 0.86 1.00 

2019 1.19 3.17 1.18 1.27 1.13 1.20 0.54 4.48 1.07 1.09 

2017 0.58 -0.04 -0.43 0.48 0.90 0.65 0.69 2.86 0.78 1.04 

Net charge-offs to loans & leases (%) 2021 0.21 1.58 0.28 0.08 0.09 0.00 0.34 0.23 0.07 0.17 

2019 0.54 4.07 0.76 0.25 0.23 0.05 0.87 0.36 0.18 0.42 

2017 0.55 4.18 0.56 0.24 0.23 0.06 0.62 0.36 0.18 0.51 

* See Table V-A (page 14) for explanations.

** For institutions that have adopted ASU 2016-13, the numerator represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13, the

numerator represents the provision for loan and lease losses. 

12 
QUARTERLY 

 

 

 

 

 

2023 VOLUME 17, NUMBER 1 

TABLE IV-A. Fourth Quarter 2022, All FDIC-Insured Institutions 

Asset Size Distribution Geographic Regions* 

Less Than $100 $1 Billion $10 Billion Greater 

FOURTH QUARTER All Insured $100 Million to to $10 to $250 Than $250 Kansas San 

(The way it is...) Institutions Million $1 Billion Billion Billion Billion New York Atlanta Chicago City Dallas Francisco 

Number of institutions reporting 4,706 761 2,964 823 145 13 558 534 1,011 1,198 1,053 352 

Commercial banks 4,127 666 2,632 687 130 12 295 488 874 1,161 987 322 

Savings institutions 579 95 332 136 15 1 263 46 137 37 66 30 

Total assets (in billions) $23,600.0 $46.3 $1,098.1 $2,277.3 $7,091.4 $13,086.9 $4,547.5 $4,614.2 $5,575.4 $4,243.2 $1,992.9 $2,626.8 

Commercial banks 22,319.5 41.1 968.0 1,945.7 6,626.5 12,738.1 4,177.3 4,560.1 5,504.3 4,187.9 1,416.6 2,473.2 

Savings institutions 1,280.6 5.2 130.1 331.6 464.9 348.7 370.2 54.0 71.0 55.3 576.3 153.6 

Total deposits (in billions) 19,214.6 39.0 948.4 1,899.1 5,796.8 10,531.2 3,690.8 3,825.2 4,360.7 3,468.8 1,710.9 2,158.2 

Commercial banks 18,132.6 35.2 841.9 1,631.7 5,418.7 10,205.2 3,388.5 3,786.6 4,309.0 3,421.7 1,192.4 2,034.3 

Savings institutions 1,082.0 3.9 106.6 267.4 378.1 326.0 302.3 38.5 51.7 47.0 518.5 123.9 

Bank net income (in millions) 68,410 100 3,545 7,745 20,608 36,411 12,514 14,294 17,409 9,933 5,955 8,304 

Commercial banks 65,695 85 3,021 6,827 20,074 35,687 11,489 15,010 17,024 9,733 4,883 7,556 

Savings institutions 2,714 15 524 918 533 724 1,025 -716 385 200 1,072 748 

Performance Ratios (annualized, %) 

Yield on earning assets 4.54 4.21 4.46 4.84 4.96 4.25 4.73 4.32 4.23 4.66 4.18 5.26 

Cost of funding earning assets 1.17 0.51 0.70 0.92 1.28 1.19 1.51 0.77 1.17 1.30 0.80 1.33 

Net interest margin 3.37 3.69 3.76 3.91 3.69 3.06 3.22 3.55 3.07 3.37 3.37 3.93 

Noninterest income to assets 1.07 1.56 1.06 1.02 1.11 1.05 1.04 0.55 1.37 0.96 0.80 1.79 

Noninterest expense to assets 2.30 3.93 2.95 2.70 2.47 2.08 2.18 1.86 2.31 2.48 2.31 2.93 

Credit loss provision to assets** 0.35 0.03 0.10 0.26 0.46 0.33 0.35 0.41 0.26 0.29 0.14 0.74 

Net operating income to assets 1.19 0.87 1.33 1.37 1.25 1.12 1.13 1.24 1.25 0.96 1.24 1.41 

Pretax return on assets 1.44 1.02 1.51 1.70 1.50 1.36 1.39 1.47 1.53 1.21 1.43 1.67 

Return on assets 1.16 0.85 1.30 1.38 1.18 1.11 1.11 1.23 1.24 0.94 1.20 1.27 

Return on equity 12.56 7.01 14.31 14.43 12.45 12.16 11.39 12.70 13.75 10.28 15.45 13.68 

Net charge-offs to loans and leases 0.36 0.09 0.09 0.20 0.36 0.44 0.34 0.46 0.24 0.35 0.12 0.59 

Loan and lease loss provision to

net charge-offs 187.71 57.23 170.16 185.48 195.07 183.72 190.76 166.87 234.59 169.95 208.93 189.68 

Efficiency ratio 55.19 78.50 63.98 57.68 53.90 54.50 54.72 48.63 55.96 61.77 58.31 53.06 

% of unprofitable institutions 5.65 15.11 4.08 2.55 6.21 0.00 4.66 5.81 5.14 5.68 6.08 7.10 

% of institutions with earnings gains 69.97 69.91 70.99 66.71 68.28 69.23 65.77 76.03 69.83 69.28 71.70 65.06 

Structural Changes 

New reporters 3 3 0 0 0 0 1 1 0 0 0 1 

Institutions absorbed by mergers 36 7 20 7 2 0 6 3 4 14 9 0 

Failed institutions 0 0 0 0 0 0 0 0 0 0 0 0 

PRIOR FOURTH QUARTERS 

(The way it was...) 

Return on assets (%) 2021 1.09 0.66 1.12 1.32 1.28 0.95 1.01 1.19 1.07 0.85 0.97 1.56 

2019 1.19 0.86 1.24 1.27 1.29 1.11 1.02 1.15 1.28 1.02 1.14 1.70 

2017 0.58 0.59 0.85 0.73 0.78 0.39 0.59 0.69 0.83 -0.13 0.89 1.10 

Net charge-offs to loans & leases (%) 2021 0.21 0.09 0.08 0.14 0.23 0.22 0.21 0.21 0.15 0.26 0.10 0.28 

2019 0.54 0.27 0.24 0.22 0.70 0.54 0.51 0.60 0.45 0.56 0.27 0.77 

2017 0.55 0.29 0.23 0.29 0.76 0.51 0.64 0.69 0.26 0.56 0.33 0.75 

* See Table V-A (page 15) for explanations.

** For institutions that have adopted ASU 2016-13, the numerator represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13, the

numerator represents the provision for loan and lease losses. 

13 
QUARTERLY 

 

2023 VOLUME 17, NUMBER 1 

TABLE V-A. Loan Performance, All FDIC-Insured Institutions 

Asset Concentration Groups* 

Inter- Other 

December 31, 2022 All Insured Credit Card national Agricultural Commercial Mortgage Consumer Specialized All Other All Other 

Institutions Banks Banks Banks Lenders Lenders Lenders <$1 Billion <$1 Billion >$1 Billion 

Percent of Loans 30-89 Days Past Due 

All loans secured by real estate 0.42 0.28 0.36 0.40 0.39 0.32 0.08 0.69 0.70 0.60 

Construction and development 0.30 0.68 0.20 0.51 0.28 0.73 0.41 0.25 0.60 0.39 

Nonfarm nonresidential 0.25 0.04 0.66 0.29 0.18 0.20 0.01 0.42 0.33 0.52 

Multifamily residential real estate 0.15 0.00 0.25 0.04 0.10 0.01 0.00 0.19 0.03 0.32 

Home equity loans 0.50 0.00 0.64 0.38 0.49 0.32 0.12 0.54 0.56 0.51 

Other 1-4 family residential 0.64 0.29 0.36 0.74 0.83 0.32 0.09 1.09 0.93 0.69 

Commercial and industrial loans 0.37 0.77 0.68 0.55 0.29 0.28 0.46 0.55 0.78 0.34 

Loans to individuals 1.38 1.42 0.89 1.03 1.14 0.30 2.14 1.26 1.33 1.62 

Credit card loans 1.25 1.44 0.87 1.54 1.54 1.09 2.16 0.81 1.24 1.41 

Other loans to individuals 1.51 1.18 0.94 0.97 1.12 0.28 2.14 1.27 1.33 1.80 

All other loans and leases (including farm) 0.29 1.36 0.35 0.28 0.30 0.04 0.03 0.26 0.59 0.26 

Total loans and leases 0.56 1.34 0.53 0.42 0.41 0.31 0.92 0.71 0.75 0.68 

Percent of Loans Noncurrent** 

All real estate loans 0.90 0.77 1.10 0.50 0.73 0.43 0.10 0.68 0.55 1.51 

Construction and development 0.37 0.00 1.92 0.32 0.27 0.31 0.02 0.44 0.20 0.57 

Nonfarm nonresidential 0.54 0.82 0.42 0.43 0.49 0.33 0.09 0.49 0.62 0.91 

Multifamily residential real estate 0.17 3.39 0.07 0.47 0.15 0.12 0.00 0.00 0.09 0.45 

Home equity loans 1.71 0.00 5.62 0.25 1.01 0.34 0.53 0.50 0.27 2.67 

Other 1-4 family residential 1.35 0.65 1.29 0.46 1.43 0.47 0.12 0.91 0.60 1.79 

Commercial and industrial loans 0.67 0.51 0.74 0.72 0.74 0.37 0.60 0.83 0.79 0.54 

Loans to individuals 0.85 1.33 0.67 0.34 0.68 0.12 0.85 0.59 0.51 0.83 

Credit card loans 1.19 1.41 0.81 0.47 1.18 0.66 2.47 0.23 0.57 1.34 

Other loans to individuals 0.51 0.40 0.18 0.32 0.64 0.10 0.83 0.60 0.51 0.36 

All other loans and leases (including farm) 0.19 0.91 0.23 0.39 0.22 0.12 0.01 0.50 0.31 0.14 

Total loans and leases 0.73 1.24 0.68 0.50 0.69 0.40 0.44 0.68 0.55 0.85 

Percent of Loans Charged-Off (net, YTD) 

All real estate loans 0.00 -0.01 -0.05 0.01 0.01 0.00 0.00 -0.01 0.00 -0.01 

Construction and development -0.01 0.00 -0.01 -0.01 -0.01 -0.05 0.00 -0.05 0.00 -0.02 

Nonfarm nonresidential 0.02 0.02 0.00 0.01 0.02 0.01 -0.01 -0.01 -0.02 0.03 

Multifamily residential real estate 0.01 0.00 0.00 -0.01 0.01 0.04 0.00 0.00 0.00 0.00 

Home equity loans -0.15 0.00 -0.54 0.01 -0.08 -0.09 -0.04 -0.06 0.01 -0.20 

Other 1-4 family residential -0.01 0.00 -0.05 0.01 0.00 0.00 0.00 0.01 0.01 0.00 

Commercial and industrial loans 0.17 1.06 0.17 0.21 0.17 0.01 0.23 0.08 0.07 0.12 

Loans to individuals 1.30 2.27 1.30 0.37 0.79 0.21 0.89 0.90 0.28 1.27 

Credit card loans 2.09 2.35 1.64 1.41 3.17 2.17 4.10 1.27 0.95 2.19 

Other loans to individuals 0.61 1.33 0.28 0.25 0.64 0.15 0.85 0.90 0.27 0.53 

All other loans and leases (including farm) 0.12 0.69 0.11 0.00 0.12 0.12 0.02 0.98 0.12 0.12 

Total loans and leases 0.27 2.12 0.32 0.04 0.11 0.01 0.38 0.13 0.04 0.31 

Loans Outstanding (in billions) 

All real estate loans $5,766.0 $4.2 $571.1 $122.0 $3,345.3 $217.6 $199.6 $14.2 $40.7 $1,251.4 

Construction and development 467.6 0.1 17.4 8.9 366.3 7.3 4.2 1.7 3.1 58.6 

Nonfarm nonresidential 1,777.5 0.3 63.2 32.4 1,355.6 18.1 20.2 5.1 8.8 273.8 

Multifamily residential real estate 598.4 0.0 92.1 4.8 396.8 6.7 22.6 0.4 1.2 73.8 

Home equity loans 273.0 0.0 20.2 2.0 170.6 8.8 3.4 0.4 1.4 66.3 

Other 1-4 family residential 2,479.5 3.7 335.7 27.8 997.4 175.9 149.2 5.6 22.9 761.4 

Commercial and industrial loans 2,533.1 40.1 356.0 23.1 1,251.7 7.3 42.2 2.2 4.4 806.2 

Loans to individuals 2,070.6 341.0 414.9 6.5 377.5 15.6 176.6 1.9 4.3 732.4 

Credit card loans 1,009.4 314.6 319.4 0.6 23.9 0.5 2.3 0.0 0.0 348.1 

Other loans to individuals 1,061.2 26.4 95.5 5.9 353.6 15.2 174.3 1.8 4.2 384.3 

All other loans and leases (including farm) 1,859.0 0.4 550.3 36.8 460.2 7.0 31.5 0.9 3.1 768.8 

Total loans and leases 

(plus unearned income) 12,228.8 385.7 1,892.3 188.3 5,434.7 247.6 449.9 19.2 52.4 3,558.7 

Memo: Other Real Estate Owned 

(in millions) 

All other real estate owned 2,595.9 0.9 224.0 88.6 1,468.3 56.5 6.1 23.6 30.8 696.9 

Construction and development 414.0 0.0 1.0 8.4 344.7 9.8 0.9 12.1 12.2 24.8 

Nonfarm nonresidential 1,257.7 0.9 72.0 45.7 726.4 17.3 0.6 6.6 9.8 378.3 

Multifamily residential real estate 27.9 0.0 0.0 1.2 25.3 0.1 0.0 0.0 1.3 0.0 

1-4 family residential 828.7 0.0 149.0 9.9 330.7 29.3 4.6 4.4 7.1 293.7 

Farmland 64.3 0.0 0.0 23.5 40.0 0.0 0.0 0.5 0.4 0.0 

* Asset Concentration Group Definitions (Groups are hierarchical and mutually exclusive):

Credit-card Lenders - Institutions whose credit-card loans plus securitized receivables exceed 50 percent of total assets plus securitized receivables.

International Banks - Banks with assets greater than $10 billion and more than 25 percent of total assets in foreign offices.

Agricultural Banks - Banks whose agricultural production loans plus real estate loans secured by farmland exceed 25 percent of the total loans and leases.

Commercial Lenders - Institutions whose commercial and industrial loans, plus real estate construction and development loans, plus loans secured by commercial real estate properties exceed

25 percent of total assets.

Mortgage Lenders - Institutions whose residential mortgage loans, plus mortgage-backed securities, exceed 50 percent of total assets.

Consumer Lenders - Institutions whose residential mortgage loans, plus credit-card loans, plus other loans to individuals, exceed 50 percent of total assets.

Other Specialized < $1 Billion - Institutions with assets less than $1 billion, whose loans and leases are less than 40 percent of total assets.

All Other < $1 billion - Institutions with assets less than $1 billion that do not meet any of the definitions above, they have significant lending activity with no identified asset concentrations.

All Other > $1 billion - Institutions with assets greater than $1 billion that do not meet any of the definitions above, they have significant lending activity with no identified asset concentrations.

** Noncurrent loan rates represent the percentage of loans in each category that are past due 90 days or more or that are in nonaccrual status. 

14 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

TABLE V-A. Loan Performance, All FDIC-Insured Institutions 

Asset Size Distribution Geographic Regions* 

Less Than $100 $1 Billion $10 Billion Greater 

December 31, 2022 All Insured $100 Million to to to $250 Than $250 Kansas San 

Institutions Million $1 Billion $10 Billion Billion Billion New York Atlanta Chicago City Dallas Francisco 

Percent of Loans 30-89 Days

Past Due 

All loans secured by real estate 0.42 0.96 0.40 0.22 0.44 0.53 0.39 0.46 0.35 0.55 0.62 0.24 

Construction and development 0.30 0.79 0.41 0.22 0.31 0.32 0.52 0.34 0.19 0.25 0.23 0.26 

Nonfarm nonresidential 0.25 0.83 0.24 0.12 0.21 0.51 0.23 0.26 0.20 0.46 0.19 0.19 

Multifamily residential real estate 0.15 0.15 0.11 0.06 0.12 0.28 0.14 0.15 0.12 0.42 0.08 0.07 

Home equity loans 0.50 0.33 0.42 0.37 0.54 0.50 0.48 0.45 0.58 0.58 0.48 0.34 

Other 1-4 family residential 0.64 1.30 0.65 0.43 0.75 0.62 0.59 0.66 0.49 0.74 1.48 0.31 

Commercial and industrial loans 0.37 0.82 0.52 0.43 0.32 0.39 0.25 0.33 0.40 0.47 0.36 0.49 

Loans to individuals 1.38 1.44 1.33 1.69 1.26 1.44 1.12 2.01 0.81 1.24 0.85 1.67 

Credit card loans 1.25 3.60 4.45 3.63 1.30 1.16 1.46 1.54 0.82 1.02 0.63 1.48 

Other loans to individuals 1.51 1.43 1.22 1.30 1.23 1.81 0.87 2.42 0.81 1.70 0.91 1.84 

All other loans and leases (including farm) 0.29 0.47 0.28 0.30 0.29 0.29 0.17 0.30 0.27 0.41 0.37 0.24 

Total loans and leases 0.56 0.91 0.44 0.36 0.55 0.63 0.45 0.71 0.42 0.61 0.57 0.62 

Percent of Loans Noncurrent** 

All real estate loans 0.90 0.78 0.45 0.43 0.85 1.39 0.95 0.92 1.04 1.09 0.96 0.36 

Construction and development 0.37 0.27 0.28 0.26 0.26 0.83 0.74 0.23 0.72 0.11 0.16 0.24 

Nonfarm nonresidential 0.54 0.93 0.44 0.38 0.59 0.73 0.82 0.62 0.49 0.50 0.31 0.35 

Multifamily residential real estate 0.17 0.33 0.21 0.15 0.14 0.24 0.26 0.21 0.09 0.19 0.07 0.11 

Home equity loans 1.71 0.29 0.39 0.38 0.97 3.08 1.49 1.30 2.20 3.85 0.68 0.46 

Other 1-4 family residential 1.35 0.82 0.51 0.66 1.40 1.67 1.30 1.29 1.47 1.56 2.38 0.44 

Commercial and industrial loans 0.67 1.51 0.69 1.55 0.60 0.54 1.15 0.49 0.49 0.60 0.62 0.78 

Loans to individuals 0.85 0.72 0.41 0.98 0.83 0.85 0.90 1.06 0.44 0.80 0.52 1.04 

Credit card loans 1.19 1.88 1.53 3.69 1.27 1.08 1.45 1.46 0.73 0.96 0.89 1.42 

Other loans to individuals 0.51 0.71 0.37 0.43 0.50 0.55 0.49 0.70 0.17 0.44 0.41 0.71 

All other loans and leases (including farm) 0.19 0.72 0.42 0.29 0.19 0.17 0.11 0.12 0.24 0.26 0.17 0.18 

Total loans and leases 0.73 0.85 0.47 0.64 0.72 0.80 0.86 0.72 0.67 0.77 0.81 0.57 

Percent of Loans Charged-Off

(net, YTD) 

All real estate loans 0.00 0.00 0.00 0.01 0.01 -0.02 0.01 0.01 -0.03 -0.01 -0.01 0.01 

Construction and development -0.01 0.01 -0.01 -0.01 -0.01 -0.02 0.00 -0.04 -0.01 0.00 -0.01 0.01 

Nonfarm nonresidential 0.02 -0.02 0.00 0.02 0.03 0.02 0.06 0.02 0.01 0.00 0.00 0.02 

Multifamily residential real estate 0.01 0.00 0.00 0.01 0.02 0.00 0.02 0.00 0.01 0.01 0.00 0.01 

Home equity loans -0.15 -0.01 0.00 -0.01 -0.08 -0.27 -0.09 -0.19 -0.20 -0.21 -0.10 -0.02 

Other 1-4 family residential -0.01 0.01 0.00 -0.01 0.00 -0.02 -0.02 0.03 -0.04 -0.01 -0.01 0.00 

Commercial and industrial loans 0.17 0.23 0.16 0.17 0.22 0.13 0.17 0.16 0.15 0.08 0.16 0.35 

Loans to individuals 1.30 0.39 0.60 1.79 1.25 1.31 1.31 1.35 0.90 1.55 0.74 1.55 

Credit card loans 2.09 8.07 3.09 6.50 2.17 1.93 2.45 2.15 1.54 1.95 1.61 2.48 

Other loans to individuals 0.61 0.33 0.52 0.77 0.60 0.59 0.53 0.69 0.35 0.77 0.49 0.80 

All other loans and leases (including farm) 0.12 0.02 0.11 0.07 0.07 0.14 0.08 0.20 0.10 0.13 0.12 0.02 

Total loans and leases 0.27 0.06 0.05 0.15 0.28 0.32 0.26 0.34 0.18 0.27 0.09 0.43 

Loans Outstanding (in billions) 

All real estate loans $5,766.0 $17.0 $547.2 $1,140.4 $2,235.3 $1,826.2 $1,253.4 $972.3 $1,113.7 $893.9 $687.6 $845.1 

Construction and development 467.6 1.1 57.6 124.9 201.1 83.0 86.2 73.0 72.1 66.9 112.6 56.9 

Nonfarm nonresidential 1,777.5 3.6 203.1 480.8 741.4 348.6 412.2 327.2 265.8 221.8 276.8 273.6 

Multifamily residential real estate 598.4 0.4 32.2 127.6 276.8 161.4 204.8 50.4 145.6 57.3 33.5 106.8 

Home equity loans 273.0 0.3 15.9 37.7 107.6 111.4 71.7 58.6 63.4 30.8 20.4 28.1 

Other 1-4 family residential 2,479.5 8.2 186.0 331.1 890.4 1,063.8 472.8 449.0 540.9 427.6 220.9 368.3 

Commercial and industrial loans 2,533.1 2.9 84.7 246.6 900.0 1,298.8 465.7 622.9 584.4 425.8 191.5 242.8 

Loans to individuals 2,070.6 1.6 27.5 103.2 803.2 1,135.2 391.7 481.5 402.8 307.7 77.8 409.2 

Credit card loans 1,009.4 0.0 0.9 17.3 349.2 642.0 168.4 225.8 195.8 211.3 17.8 190.4 

Other loans to individuals 1,061.2 1.6 26.6 85.8 454.0 493.2 223.3 255.7 207.0 96.4 60.0 218.8 

All other loans and leases (including farm) 1,859.0 3.3 40.3 69.0 521.1 1,225.4 326.5 358.0 488.9 424.9 66.9 193.9 

Total loans and leases 

(plus unearned income) 12,228.8 24.8 699.8 1,559.2 4,459.6 5,485.5 2,437.3 2,434.6 2,589.8 2,052.2 1,023.7 1,691.1 

Memo: Other Real Estate Owned 

(in millions) 

All other real estate owned 2,595.9 23.1 427.0 615.3 609.8 920.7 429.0 629.0 506.4 455.2 409.6 166.7 

Construction and development 414.0 4.4 153.9 178.5 59.6 17.6 49.5 81.2 35.6 90.8 124.5 32.4 

Nonfarm nonresidential 1,257.7 9.7 165.2 318.5 221.0 543.3 128.2 390.5 214.4 269.5 210.7 44.3 

Multifamily residential real estate 27.9 1.3 10.4 2.2 13.1 0.9 6.6 2.5 8.4 2.5 4.2 3.8 

1-4 family residential 828.7 5.9 69.5 95.6 300.9 356.8 244.6 153.3 240.4 66.5 57.7 66.2 

Farmland 64.3 1.8 27.9 19.4 15.3 0.0 0.1 1.0 6.9 23.9 12.5 20.0 

* Regions:

New York - Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Puerto Rico, Rhode Island, Vermont,

U.S. Virgin Islands

Atlanta - Alabama, Florida, Georgia, North Carolina, South Carolina, Virginia, West Virginia

Chicago - Illinois, Indiana, Kentucky, Michigan, Ohio, Wisconsin

Kansas City - Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota

Dallas - Arkansas, Colorado, Louisiana, Mississippi, New Mexico, Oklahoma, Tennessee, Texas

San Francisco - Alaska, Arizona, California, Hawaii, Idaho, Montana, Nevada, Oregon, Pacific Islands, Utah, Washington, Wyoming

** Noncurrent loan rates represent the percentage of loans in each category that are past due 90 days or more or that are in nonaccrual status. 

15 
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2023 VOLUME 17, NUMBER 1 

TABLE VI-A. Derivatives, All FDIC-Insured Call Report Filers 

(dollar figures in millions;

notional amounts unless otherwise indicated) 

4th 3rd 2nd 1st 4th % Change Quarter Quarter Quarter Quarter Quarter 21Q4- 2022 2022 2022 2022 2021 22Q4 

Asset Size Distribution 

Less $100 $1 $10 Greater 

Than Million Billion Billion Than 

$100 to $1 to $10 to $250 $250 

Million Billion Billion Billion Billion 

ALL DERIVATIVE HOLDERS 

Number of institutions reporting derivatives 1,140 1,212 1,254 1,295 1,310 -13.0 16 473 504 134 13 

Total assets of institutions reporting derivatives $21,631,568 $21,656,938 $21,873,500 $22,148,804 $21,896,421 -1.2 $1,120 $247,519 $1,603,938 $6,692,111 $13,086,880 

Total deposits of institutions reporting derivatives 17,562,245 17,674,023 17,982,505 18,368,954 18,163,919 -3.3 895 210,389 1,334,328 5,485,401 10,531,231 

Total derivatives 192,875,611 198,385,321 197,421,142 203,157,729 179,313,889 7.6 97 9,218 176,989 4,219,908 188,469,398 

Derivative Contracts by Underlying

Risk Exposure

Interest rate 139,774,246 141,989,523 142,884,741 145,900,883 126,263,465 10.7 97 8,456 169,991 2,415,031 137,180,671 

Foreign exchange* 43,001,986 45,988,455 44,459,158 46,356,534 43,668,294 -1.5 0 0 2,427 1,569,041 41,430,518 

Equity 4,423,904 4,409,702 4,330,864 4,489,264 4,256,115 3.9 0 27 31 49,118 4,374,728 

Commodity & other (excluding credit derivatives) 1,432,977 1,606,776 1,779,436 1,905,829 1,584,207 -9.5 0 0 59 121,947 1,310,971 

Credit 4,241,352 4,389,784 3,965,766 4,504,316 3,540,460 19.8 0 15 4,055 64,772 4,172,510 

Total 192,874,465 198,384,240 197,419,965 203,156,826 179,312,541 7.6 97 8,498 176,563 4,219,908 188,469,398 

Derivative Contracts by Transaction Type

Swaps 118,597,661 121,132,626 121,285,181 124,396,704 109,290,037 8.5 0 1,615 121,765 2,561,825 115,912,456 

Futures & forwards 28,748,693 31,661,060 32,045,336 33,523,101 31,179,813 -7.8 0 1,289 7,336 1,231,688 27,508,380 

Purchased options 19,695,467 19,118,334 18,596,675 18,875,284 16,490,297 19.4 0 48 20,449 167,691 19,507,279 

Written options 19,693,855 18,780,453 18,958,408 19,054,957 16,963,154 16.1 0 830 8,666 150,623 19,533,736 

Total 186,735,677 190,692,473 190,885,599 195,850,046 173,923,300 7.4 0 3,782 158,216 4,111,827 182,461,852 

Fair Value of Derivative Contracts 

Interest rate contracts 72,895 77,730 77,213 71,615 55,248 31.9 0 64 1,832 -6,358 77,357 

Foreign exchange contracts -14,980 15,025 11,233 11,938 -4,023 N/M 0 0 5 851 -15,836 

Equity contracts 4,403 16,949 12,308 -3,383 -8,794 N/M 0 -1 2 934 3,467 

Commodity & other (excluding credit derivatives) 8,892 18,933 22,615 21,140 6,479 37.2 0 0 1 112 8,779 

Credit derivatives as guarantor** 5,346 -16,373 -18,433 13,388 24,091 -77.8 0 2 18 -67 5,394 

Credit derivatives as beneficiary** -4,002 23,163 22,643 -14,304 -28,518 N/M 0 0 -1 -204 -3,797 

Derivative Contracts by Maturity***

Interest rate contracts < 1 year 92,694,359 97,477,065 96,672,591 102,946,312 68,047,961 36.2 3 1,454 17,929 1,356,166 91,318,806 

1-5 years 27,375,719 26,085,681 26,253,904 26,322,685 41,247,368 -33.6 5 1,651 66,330 561,620 26,746,113 

> 5 years 20,667,382 19,919,888 22,979,692 23,004,026 20,471,315 1.0 0 2,141 66,374 383,554 20,215,312 

Foreign exchange and gold contracts < 1 year 33,156,693 34,753,442 33,883,174 34,852,149 30,953,966 7.1 0 0 1,516 1,429,620 31,725,556 

1-5 years 4,811,621 4,481,609 4,545,526 4,822,181 4,863,871 -1.1 0 0 362 117,787 4,693,471 

> 5 years 2,444,283 2,226,842 2,476,418 2,618,402 2,551,933 -4.2 0 0 0 10,012 2,434,271 

Equity contracts < 1 year 4,335,420 4,315,354 4,272,177 4,491,365 3,880,771 11.7 0 7 2 25,334 4,310,077 

1-5 years 999,329 1,057,822 911,068 1,000,719 1,055,173 -5.3 0 19 4 16,389 982,916 

> 5 years 

Commodity & other contracts (including

credit derivatives, excluding gold

98,766 140,485 174,232 175,183 144,720 -31.8 0 0 7 1,448 97,311 

contracts) < 1 year 2,743,038 2,933,679 3,007,398 3,560,248 2,195,295 25.0 0 2 210 55,458 2,687,368 

1-5 years 2,844,771 2,819,537 2,653,707 2,658,498 2,569,198 10.7 0 8 976 51,509 2,792,278 

> 5 years 272,418 468,669 680,264 469,467 236,524 15.2 0 67 2,349 9,491 260,511 

Risk-Based Capital: Credit Equivalent Amount

Total current exposure to tier 1 capital (%) 14.9 21.0 17.5 16.7 19.4 0.0 0.8 2.9 4.3 23.1 

Total potential future exposure to tier 1 capital (%) 

Total exposure (credit equivalent amount)

31.8 32.2 35.2 38.6 34.0 0.0 0.2 0.9 4.9 52.7 

to tier 1 capital (%) 46.7 53.2 52.7 55.3 53.4 0.0 1.0 3.9 9.2 75.8 

Credit losses on derivatives  101.7 106.6 104.6 109.5 17.9 468.2 0.0 3.9 0.1 -6.2 104.0 

HELD FOR TRADING 

Number of institutions reporting derivatives 

Total assets of institutions reporting derivatives 

Total deposits of institutions reporting derivatives 

165 173 172 180 185 -10.8 

16,459,067 16,479,456 16,613,598 17,113,288 16,931,266 -2.8 

13,224,436 13,290,901 13,519,225 14,065,377 13,957,564 -5.3 

0 14 81 59 11 

0 7,527 360,931 3,739,259 12,351,350 

0 6,316 298,170 3,044,452 9,875,497 

Derivative Contracts by Underlying

Risk Exposure

Interest rate 135,502,496 137,555,249 138,592,472 141,764,396 122,237,175 10.9 0 289 43,867 1,026,739 134,431,600 

Foreign exchange 40,604,230 42,216,283 41,401,741 43,028,040 41,349,240 -1.8 0 0 2,271 1,487,405 39,114,555 

Equity 4,375,929 4,363,822 4,283,905 4,463,312 4,231,348 3.4 0 0 0 41,369 4,334,559 

Commodity & other 1,391,961 1,565,817 1,737,954 1,865,296 1,543,080 -9.8 0 0 24 114,883 1,277,055 

Total 181,874,616 185,701,171 186,016,071 191,121,044 169,360,843 7.4 0 289 46,161 2,670,397 179,157,769 

Trading Revenues:

Cash & Derivative Instruments 

Interest rate**  4,623 -1,179 894 415 277 1,569.0 0 0 5 38 4,580 

Foreign exchange** 1,168 8,156 6,366 6,341 3,747 -68.8 0 0 1 206 961 

Equity** 3,099 3,308 777 1,458 3,534 -12.3 0 0 2 61 3,036 

Commodity & other (including credit derivatives)** 785 2,453 2,363 2,396 -390 -301.3 0 0 0 421 364 

Total trading revenues** 9,675 12,739 10,401 10,610 7,169 35.0 0 0 8 726 8,941 

Share of Revenue 

Trading revenues to gross revenues (%)** 

Trading revenues to net operating revenues (%)** 

4.8 7.1 6.8 7.4 5.2 

20.8 27.7 25.6 28.5 17.4 

0.0 0.0 0.2 1.7 5.8 

0.0 0.0 0.6 7.3 25.4 

HELD FOR PURPOSES OTHER THAN TRADING 

Number of institutions reporting derivatives 528 541 553 564 578 -8.7 0 94 293 128 13 

Total assets of institutions reporting derivatives 20,707,304 20,731,670 20,822,601 21,092,019 20,934,951 -1.1 0 53,838 1,178,538 6,388,048 13,086,880 

Total deposits of institutions reporting derivatives 16,786,151 16,883,460 17,089,680 17,465,139 17,353,129 -3.3 0 45,097 976,128 5,233,695 10,531,231 

Derivative Contracts by Underlying

Risk Exposure

Interest rate 4,252,675 4,412,573 4,267,827 4,110,189 3,998,732 6.4 0 3,466 111,845 1,388,292 2,749,071 

Foreign exchange 519,396 491,890 513,259 552,327 497,831 4.3 0 0 143 38,326 480,927 

Equity 47,975 45,880 46,959 25,951 24,767 93.7 0 27 31 7,749 40,169 

Commodity & other 41,016 40,959 41,482 40,534 41,128 -0.3 0 0 36 7,064 33,917 

Total notional amount 4,861,061 4,991,302 4,869,528 4,729,001 4,562,458 6.5 0 3,493 112,055 1,441,431 3,304,083 

All line items are reported on a quarterly basis. N/M - Not Meaningful

* Includes spot foreign exchange contracts. All other references to foreign exchange contracts in which notional values or fair values are reported exclude spot foreign exchange contracts.

** Does not include banks filing the FFIEC 051 report form, which was introduced in first quarter 2017.

*** Derivative contracts subject to the risk-based capital requirements for derivatives.

**** Credit losses on derivatives is applicable to all banks filing the FFIEC 031 report form and banks filing the FFIEC 041 report form that have $300 million or more in total assets, but is not

applicable to banks filing the FFIEC 051 form. 

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2023 VOLUME 17, NUMBER 1 

TABLE VII-A. Servicing, Securitization, and Asset Sales Activities (All FDIC-Insured Call Report Filers)* 

(dollar figures in millions) 

% 

4th 3rd 2nd 1st 4th Change

Quarter Quarter Quarter Quarter Quarter 21Q3- 2022 2022 2022 2022 2021 22Q3 

Asset Size Distribution 

Less $100 $1 $10 Greater 

Than Million Billion Billion Than 

$100 to $1 to $10 to $250 $250 

Million Billion Billion Billion Billion 

Assets Securitized and Sold with Servicing Retained or with

Recourse or Other Seller-Provided Credit Enhancements 

Number of institutions reporting securitization activities 

Outstanding Principal Balance by Asset Type**

64 64 64 62 62 3.2 0 5 11 39 9 

1-4 family residential loans $257,640 $275,921 $286,245 $285,743 $324,821 -20.7 $0 $5,473 $14,013 $60,674 $177,479 

Home equity loans 5 5 6 6 6 -16.7 0 0 0 5 0 

Credit card receivables 103 76 39 12 0 0.0 0 0 0 103 0 

Auto loans 1,102 541 59 72 169 552.1 0 0 0 660 442 

Other consumer loans 1,202 1,277 1,347 1,169 1,241 -3.1 0 0 0 677 525 

Commercial and industrial loans 4,988 4,626 5,265 6,228 6,624 -24.7 0 0 0 0 4,988 

All other loans, leases, and other assets 115,199 113,555 114,372 111,531 106,355 8.3 0 0 6,881 10,212 98,106 

Total securitized and sold 380,239 396,001 407,333 404,761 439,216 -13.4 0 5,473 20,894 72,331 281,540 

Maximum Credit Exposure by Asset Type**

1-4 family residential loans 633 650 726 847 1,041 -39.2 0 0 0 408 225 

Home equity loans 0 0 0 0 0 0.0 0 0 0 0 0 

Credit card receivables 0 0 0 0 0 0.0 0 0 0 0 0 

Auto loans 19 19 0 0 2 850.0 0 0 0 0 19 

Other consumer loans 0 0 0 0 0 0.0 0 0 0 0 0 

Commercial and industrial loans 219 203 226 263 275 -20.4 0 0 0 0 219 

All other loans, leases, and other assets 2,790 2,975 2,525 2,486 2,500 11.6 0 0 63 372 2,355 

Total credit exposure 

Total unused liquidity commitments provided to institution’s own

3,661 3,847 3,477 3,596 3,818 -4.1 0 0 63 780 2818 

securitizations 236 210 187 225 241 -2.1 0 0 0 0 236 

Securitized Loans, Leases, and Other Assets 30-89 Days

Past Due (%)**

1-4 family residential loans 2.9 2.5 2.4 2.2 2.1 0.0 1.6 0.2 3.3 3 

Home equity loans 5.5 3.4 9.3 8.6 4.4 0.0 0.0 0.0 5.5 0 

Credit card receivables 5.8 3.9 2.6 0.0 0.0 0.0 0.0 0.0 5.8 0 

Auto loans 1.2 0.4 0.0 0.0 1.6 0.0 0.0 0.0 1.5 0.7 

Other consumer loans 3.3 3.1 2.9 3.4 2.7 0.0 0.0 0.0 1.6 5.5 

Commercial and industrial loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 

All other loans, leases, and other assets 0.3 0.3 0.3 0.3 0.5 0.0 0.0 1.0 2.0 0.1 

Total loans, leases, and other assets 

Securitized Loans, Leases, and Other Assets 90 Days or More

Past Due (%)**

2.0 1.8 1.9 1.7 1.7 0.0 0.0 0.0 3.0 2 

1-4 family residential loans 0.8 1.1 1.4 1.6 1.9 0.0 1.1 0.0 1.9 0.5 

Home equity loans 28.1 27.5 26.0 27.4 28.1 0.0 0.0 0.0 28.1 0 

Credit card receivables 5.8 2.6 0.0 0.0 0.0 0.0 0.0 0.0 5.8 0 

Auto loans 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0 

Other consumer loans 2.8 2.8 2.5 2.8 2.5 0.0 0.0 0.0 1.0 5.2 

Commercial and industrial loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 

All other loans, leases, and other assets 0.5 0.9 0.7 1.1 1.3 0.0 0.0 1.1 0.6 0.5 

Total loans, leases, and other assets 

Securitized Loans, Leases, and Other Assets Charged-off

(net, YTD, annualized, %)**

0.5 0.9 1.1 1.3 1.5 0.0 0.0 0.0 0.8 0.5 

1-4 family residential loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 

Home equity loans 4.0 2.1 2.3 2.0 2.9 0.0 0.0 0.0 4.0 0 

Credit card receivables 1.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.9 0 

Auto loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 

Other consumer loans 0.6 0.4 0.3 0.1 0.5 0.0 0.0 0.0 0.5 0.7 

Commercial and industrial loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 

All other loans, leases, and other assets 0.2 0.1 0.1 0.0 0.2 0.0 0.0 0.0 1.3 0.1 

Total loans, leases, and other assets 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0 

Seller’s Interests in Institution's Own Securitizations – 

Carried as Securities or Loans *** 

Home equity loans 0 0 0 0 0 0.0 0 0 0 0 0 

Credit card receivables 0 0 0 0 0 0.0 0 0 0 0 0 

Commercial and industrial loans 0 0 0 0 0 0.0 0 0 0 0 0 

Assets Sold with Recourse and Not Securitized 

Number of institutions reporting asset sales 

Outstanding Principal Balance by Asset Type

311 316 318 321 329 -5.5 3 97 141 61 9 

1-4 family residential loans 24,182 27,018 27,429 29,138 32,291 -25.1 18 3,267 10,506 9,393 998 

All other loans, leases, and other assets 144,016 142,239 141,862 140,553 139,554 3.2 0 30 473 40,231 103,281 

Total sold and not securitized 168,198 169,257 169,291 169,691 171,844 -2.1 18 3,297 10,979 49,624 104,279 

Maximum Credit Exposure by Asset Type

1-4 family residential loans 8,620 9,015 9,893 9,796 11,750 -26.6 1 298 3,406 4,368 548 

All other loans, leases, and other assets 41,742 41,221 41,203 40,923 40,576 2.9 0 30 37 12,498 29,177 

Total credit exposure 50,362 50,235 51,095 50,720 52,326 -3.8 1 328 3,443 16,866 29,725 

Support for Securitization Facilities Sponsored by

Other Institutions 

Number of institutions reporting securitization facilities

sponsored by others 

36 36 36 37 36 0.0 0 11 12 6 7 

Total credit exposure 20,092 21,922 22,526 23,468 21,148 -5.0 0 0 0 795 19,297 

Total unused liquidity commitments 3,165 3,576 1,995 2,194 425 644.7 0 0 0 295 2,870 

Other 

Assets serviced for others  

Asset-backed commercial paper conduits

6,329,054 6,178,078 6,111,536 6,046,070 5,881,678 7.6 2,759 251,827 418,962 1,438,390 4,217,116 

Credit exposure to conduits sponsored by institutions and others 

Unused liquidity commitments to conduits sponsored by

4,128 3,803 5,836 6,289 21,662 -80.9 0 0 0 0 4,128 

institutions and others 60,714 59,659 61,747 64,654 51,794 17.2 0 0 0 43 60,671 

Net servicing income (for the quarter) 1,404 3,224 3,489 4,523 1,626 -13.7 6 106 453 185 653 

Net securitization income (for the quarter) 38 -11 -2 -10 150 -74.7 0 -2 2 24 14 Total credit exposure to Tier 1 capital (%)** *** 3.1 3.3 3.3 3.4 3.3 -6.1 0.0 0.1 0.2 2.1 4.8 

* Does not include banks filing the FFIEC 051 report form, which was introduced in first quarter 2017.

** Beginning June 2018, for banks that file the FFIEC 041 report form, all other loans include home equity loans, credit card receivables, auto loans, other consumer loans, and commercial and

industrial loans. 

*** Beginning June 2018, only includes banks that file the FFIEC 031 report form.

  The amount of financial assets serviced for others, other than closed-end 1-4 family residential mortgages, is reported when these assets are greater than $10 million.

** *** Total credit exposure includes the sum of the three line items titled “Total credit exposure” reported above. 

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2023 VOLUME 17, NUMBER 1 

TABLE VIII-A. Trust Services (All FDIC-Insured Institutions) 

(dollar figures in millions) 

All Insured Institutions Asset Size Distribution 

% 

Change Dec 31 Dec 31 Dec 31 Dec 31 2021- 2022 2021 2020 2019 2022 

Less 

Than $100 $1 Billion $10 Billion Greater 

$100 Million to to to $250 Than $250 

Million $1 Billion $10 Billion Billion Billion 

Number of institutions reporting 4,706 4,839 5,002 5,177 -2.7 761 2,964 823 145 13 

Number of institutions with fiduciary powers 1,499 1,530 1,578 1,627 -2.0 101 872 413 101 12 

Commercial banks 1,390 1,418 1,461 1,500 -2.0 91 827 367 93 12 

Savings institutions 109 112 117 127 -2.7 10 45 46 8 0 

Number of institutions exercising fiduciary powers 1,115 1,136 1,171 1,207 -1.8 63 626 323 91 12 

Commercial banks 1,028 1,048 1,079 1,106 -1.9 53 589 291 83 12 

Savings institutions 87 88 92 101 -1.1 10 37 32 8 0 

Number of institutions reporting fiduciary activity 1,053 1,082 1,118 1,147 -2.7 56 582 313 90 12 

Commercial banks 974 1,002 1,034 1,055 -2.8 46 551 283 82 12 

Savings institutions 79 80 84 92 -1.3 10 31 30 8 0 

Fiduciary and related assets - managed assets 

Personal trust and agency accounts 

Employee benefit and retirement-related trust and 

agency accounts: 

724,516 829,606 744,217 709,267 -12.7 17,631 73,088 83,573 279,981 270,243 

Employee benefit - defined contribution 602,362 743,274 594,988 493,000 -19.0 2,209 21,847 14,297 24,662 539,346 

Employee benefit - defined benefit 

Other employee benefit and retirement-related 

528,127 687,040 634,612 602,747 -23.1 3,564 3,068 16,414 19,299 485,783 

accounts 426,705 511,222 454,678 408,075 -16.5 7,042 92,021 32,656 106,654 188,333 

Corporate trust and agency accounts 

Investment management and investment advisory 

22,076 23,800 27,836 23,739 -7.2 0 4,253 2,642 3,010 12,171 

agency accounts 2,393,090 2,738,003 2,319,578 2,110,931 -12.6 21,302 135,962 133,713 549,102 1,553,012 

Other fiduciary accounts 

Total managed fiduciary accounts: 

617,239 631,976 553,382 468,541 -2.3 3,933 12,616 19,077 89,617 491,996 

Number of accounts 2,144,131 2,056,398 1,953,763 1,892,284 4.3 81,012 627,749 325,811 533,571 575,988 

Assets 5,314,115 6,164,921 5,329,291 4,816,302 -13.8 55,680 342,855 302,372 1,072,325 3,540,883 

Noninterest-bearing deposits 3,216 5,748 4,917 7,674 -44.1 47 311 209 1,477 1,172 

Interest-bearing deposits 89,978 83,343 77,995 69,079 8.0 112 3,684 8,286 15,681 62,214 

U.S. Treasury and U.S. Government agency obligations 199,349 128,582 131,620 138,753 55.0 1,810 9,224 18,380 73,099 96,835 

State, county and municipal obligations 233,459 238,219 252,130 253,381 -2.0 3,659 11,642 16,010 84,417 117,732 

Money market mutual funds 169,202 163,651 156,493 146,718 3.4 1,970 17,702 18,268 63,632 67,629 

Other short-term obligations 272,614 182,995 160,426 132,383 49.0 39 548 234 10,014 261,778 

Other notes and bonds 336,408 372,688 341,460 301,599 -9.7 7,087 6,098 13,751 50,490 258,983 

Common and preferred stocks 3,794,659 4,768,327 4,009,783 3,581,225 -20.4 37,543 276,124 203,115 712,150 2,565,728 

Real estate mortgages 1,754 1,777 2,048 2,125 -1.3 10 172 128 1,156 288 

Real estate 60,784 54,339 49,113 52,582 11.9 1,291 7,359 9,107 18,821 24,206 

Miscellaneous assets 152,693 165,252 143,307 130,782 -7.6 2,113 9,991 14,882 41,388 84,318 

Fiduciary and related assets - nonmanaged assets 

Personal trust and agency accounts 

Employee benefit and retirement-related trust and 

agency accounts: 

423,113 452,827 386,951 339,489 -6.6 13,481 24,781 24,618 203,579 156,653 

Employee benefit - defined contribution 2,024,582 2,250,933 2,076,426 2,504,371 -10.1 185,326 77,397 56,932 835,700 869,227 

Employee benefit - defined benefit 2,354,158 2,978,654 3,036,632 4,697,794 -21.0 11,062 17,244 15,080 847,376 1,463,395 

Other employee benefit and retirement-related accounts 582,664 772,594 773,596 1,620,838 -24.6 45,542 5,495 15,205 125,486 390,936 

Corporate trust and agency accounts 4,023,734 4,157,804 3,846,196 3,584,494 -3.2 4 77,200 294,368 312,947 3,339,215 

Other fiduciary accounts 

Total nonmanaged fiduciary accounts: 

3,373,060 3,543,521 3,429,906 3,998,882 -4.8 12,868 39,969 47,810 427,557 2,844,856 

Assets 12,781,310 14,156,341 13,549,707 16,745,867 -9.7 268,283 242,086 454,014 2,752,646 9,064,282 

Number of accounts 

Custody and safekeeping accounts: 

4,904,915 4,449,877 4,752,447 4,304,374 10.2 2,487,666 219,102 75,367 363,783 1,758,997 

Assets 127,319,047 143,798,619 129,464,890 110,653,618 -11.5 44,867 1,803,739 1,565,956 11,123,611 112,780,873 

Number of accounts 15,726,954 24,613,652 13,479,805 13,731,356 -36.1 202,534 10,531,551 120,866 2,552,703 2,319,300 

Fiduciary and related services income 

Personal trust and agency accounts 

Retirement-related trust and agency accounts: 

5,034 5,237 4,700 4,584 -3.9 147 300 613 1,936 2,038 

Employee benefit - defined contribution 1,051 1,128 1,030 1,195 -6.8 22 112 157 275 485 

Employee benefit - defined benefit 998 1,079 1,102 1,361 -7.5 10 20 25 287 656 

Other employee benefit and retirement-related accounts 2,715 2,700 2,243 2,176 0.6 78 1,034 254 664 685 

Corporate trust and agency accounts 1,582 1,736 1,885 1,875 -8.9 0 122 184 491 784 

Investment management agency accounts 11,021 11,135 9,585 9,110 -1.0 113 1,051 1,019 3,657 5,180 

Other fiduciary accounts 522 509 606 803 2.6 6 2 6 166 342 

Custody and safekeeping accounts 17,054 17,752 16,127 14,535 -3.9 9 611 335 2,100 13,998 

Other fiduciary and related services income 1,057 1,079 1,032 926 -2.0 8 136 116 259 537 

Total gross fiduciary and related services income 41,255 42,623 38,540 36,841 -3.2 394 3,500 2,775 9,881 24,705 

Less: Expenses 36,363 35,702 34,306 34,623 1.9 278 2,696 1,964 7,662 23,763 

Less: Net losses from fiduciary and related services 

Plus: Intracompany income credits for fiduciary and

445 271 547 502 64.2 0 -2 9 50 387 

related services 9,312 6,276 7,335 10,137 48.4 1 211 372 1,724 7,003 

Net fiduciary and related services income 13,523 12,644 10,777 11,550 7.0 115 902 1,109 3,849 7,549 

Collective investment funds and common trust funds 

(market value) 

Domestic equity funds 893,341 1,140,121 894,542 789,065 -21.6 8,164 67,891 9,516 5,317 802,453 

International/global equity funds 296,903 344,854 312,134 257,360 -13.9 1,096 20,169 35 2,844 272,759 

Stock/bond blend funds 166,117 225,365 209,306 175,200 -26.3 1,947 1,258 0 17,213 145,699 

Taxable bond funds 82,052 157,802 153,517 133,911 -48.0 701 14,787 1,103 3,542 61,919 

Municipal bond funds 1,589 2,030 2,106 2,287 -21.7 0 0 36 710 843 

Short-term investments/money market funds 143,746 165,770 156,498 143,418 -13.3 3,054 196 0 1,830 138,666 

Specialty/other funds 66,439 70,819 62,117 61,674 -6.2 0 16,497 5 1,947 47,990 

Total collective investment funds 1,653,795 2,111,006 1,794,996 1,570,104 -21.7 15,164 121,178 11,621 34,771 1,471,060 

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2023 VOLUME 17, NUMBER 1 

COMMUNITY BANK PERFORMANCE 

Community banks are identified based on criteria defined in the FDIC’s 2012 Community Banking Study. When 

comparing community bank performance across quarters, prior-quarter dollar amounts are based on community 

banks designated as such in the current quarter, adjusted for mergers. In contrast, prior-quarter ratios are based on 

community banks designated during the previous quarter. 

Full-Year 2022 Net Income Was Higher Than the Pre-Pandemic Average but Flat Compared With 20211 

Net Income Increased Modestly Quarter Over Quarter 

The Net Interest Margin Widened but at a Slower Pace Compared to Last Quarter 

Loan Growth Was Broad Based 

Asset Quality Remained Favorable Overall 

Total Deposits Remained Stable 

FULL-YEAR 2022 NET INCOME WAS 

HIGHER THAN THE PRE-PANDEMIC 

AVERAGE BUT FLAT COMPARED 

WITH 2021 

Community banks reported full-year 2022 net income of $30.4 billion, 

higher than the pre-pandemic average but marginally lower than fullyear 2021 net income. Net income in 2022 was $87.1 million (0.3 percent) 

lower than in 2021. The decrease was attributable to lower noninterest 

income, higher noninterest expense, realized losses on securities, 

and higher provision expense. Together, these negative components 

largely offset higher net interest income. The share of unprofitable 

community banks rose slightly from 3.3 percent to 3.5 percent. The 

aggregate pretax return on average assets (ROAA) ratio decreased from 

1.54 percent in 2021 to 1.40 percent in 2022. The full-year net interest 

margin (NIM) rose 17 basis points to 3.45 percent, the largest annual 

expansion since 1992. 

Chart 1 Chart 2 

Contributors to the Year-Over-Year Change in Income Net Interest Margin 

-2.0 

-1.0 

0.0 

1.0 

2.0 

3.0 

4.0 

5.0 

20% 169% -18% 5% -134% 11% 

$1.07 $3.94 $0.59 -$1.04 $0.86 -$0.24 $0.17 

15% 

FDIC-Insured Community Banks 

$ Billions 

Net Net Loan Loss Noninterest Noninterest Realized Income 

Taxes 

Positive Factor Negative Factor 

Percent Industry (3.37) 

Community Banks (3.71) 

2.25 

2.50 

2.75 

3.00 

3.25 

3.50 

3.75 

4.00 

Income Interest Provisions Income Expense Gains on 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Income Securities Source: FDIC. Source: FDIC. 

1 “Pre-pandemic average” refers to the period first quarter 2015 through fourth quarter 2019 and is used consistently throughout this report. 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

QUARTERLY NET INCOME INCREASED 

MODESTLY FROM THIRD QUARTER 

Quarterly net income for the 4,258 community banks rose $33.0 million 

(0.4 percent) from one quarter ago to $8.3 billion in fourth quarter 

2022. Higher net interest income and lower losses on securities slightly 

exceeded increases in noninterest expense and provisions for credit 

losses. Slightly less than half (47.3 percent) of all community banks 

reported higher net income compared with third quarter 2022. The share 

of unprofitable community banks rose slightly to 5.8 percent. The pretax 

ROAA ratio fell 2 basis points from one quarter ago to 1.49 percent. 

Net income increased $1.1 billion (14.8 percent) from fourth quarter 

2021, as higher net interest income offset lower noninterest income and 

higher noninterest expense. Pretax ROAA rose 10 basis points from the 

year-ago quarter to 1.40 percent. 

THE NET INTEREST MARGIN 

CONTINUED TO WIDEN BUT AT A 

SLOWER PACE 

The average community bank quarterly NIM increased 7 basis points 

from the prior quarter to 3.71 percent, surpassing the pre-pandemic 

average of 3.63 percent. The NIM widened 48 basis points from the 

year-ago quarter, the largest year-over-year basis point increase since 

third quarter 1985. The quarterly increase in the NIM was due mainly to 

growth in net interest income and a decline in average earning assets. 

The average yield on earning assets rose 44 basis points from third quarter 

2022 to 4.53 percent due to strong loan growth; this increase was slightly 

lower than the 47 basis point increase between the second quarter and 

third quarter. Yields on total loans increased 34 basis points from the prior 

quarter and 57 basis points from the year-ago quarter to 5.20 percent, 

largely due to higher yields on commercial and industrial (C&I) loans and 

1–4 family residential real estate loans. Average funding costs increased 

37 basis points from third quarter 2022 to 0.82 percent, more than double 

the 18 basis point increase from the second quarter to the third quarter. 

The cost of deposits increased 34 basis points from the prior quarter and 

51 basis points from the year-ago quarter to 0.76 percent. 

Chart 3 Chart 4 

Change in Loan Balances and Unused Commitments Noncurrent Loan Rates for FDIC-Insured Community Banks 

FDIC-Insured Community Banks C&D Loans C&I Loans Share of Loan Portfolio Noncurrent Nonfarm Nonresidential RE Home Equity Change 4Q 2022 vs. 4Q 2021 Percent $ Billions 1–4 Family RE Farm Loans Change 4Q 2022 vs. 3Q 2022 16 

23.7 25 

14 20 20.0

16.3 12

15 

5.4 

7.1

3.2 3.1 4.1 5.0 

2.7

14.1 13.1 

10 

5 

2.1 

0 

-0.8 

-5 

Nonfarm Commercial 1–4 Family Construction & Farm Commercial RE Commercial 

Nonresidential & Industrial Residential Development Loans & Construction & Industrial RE RE Unused 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Loan Balances Commitments Source: FDIC. Source: FDIC. 

0 

2 

4 

6 

8 

10 

20 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

NET OPERATING REVENUE ROSE 

2.8 PERCENT QUARTER OVER 

QUARTER ON STRONG NET INTEREST 

INCOME GROWTH 

Community bank net operating revenue (net interest income plus 

noninterest income) increased $767.7 million (2.8 percent) from third 

quarter 2022. More than 70 percent of community banks reported 

higher net interest income, driving an aggregate increase of 3.3 percent 

($739.6 million) from the previous quarter. Higher interest income, 

particularly on loans secured by farmland and nonfarm, nonresidential 

commercial real estate (CRE), drove the quarterly growth in net interest 

income. Noninterest income grew marginally (0.6 percent) from the 

prior quarter as lower net gains on loan sales were offset by an increase 

in “all other noninterest income.”2 

From the year-ago quarter, a $3.9 billion increase in net interest income 

was only partially offset by a $1.0 billion decline in noninterest income, 

resulting in a $2.9 billion (11.5 percent) increase in net operating revenue. 

Lower net gains on loan sales drove the annual decline in noninterest 

income, while higher interest income on loans secured by farmland and 

nonfarm, nonresidential CRE and 1–4 family residential real estate loans 

drove the year-over-year growth in net interest income. 

NONINTEREST EXPENSE ROSE 

QUARTER OVER QUARTER AND 

YEAR OVER YEAR 

Noninterest expense rose $765.4 million (4.7 percent) from third quarter 

and $855.7 million (5.2 percent) from fourth quarter 2021 to $17.2 billion. 

Higher compensation expense and data processing expense drove the 

quarterly and annual increase in noninterest expense. Noninterest 

expense as a share of average assets rose 6 basis points to 2.56 percent 

from one quarter ago as growth in noninterest expense outpaced growth 

in average assets. The community bank efficiency ratio (noninterest 

expense as a share of net operating revenue) rose 97 basis points from 

one quarter ago to 60.59 percent as growth in noninterest expense 

outpaced growth in net operating revenue. 

PROVISION EXPENSE INCREASED Quarterly provision expense of $938.3 million was $172.8 million 

(22.6 percent) higher than one quarter ago and $589.2 million higher 

than one year ago.3

 As of fourth quarter 2022, 164 community banks had 

adopted current expected credit loss (CECL) accounting. Community 

bank CECL adopters reported provision expense of $270.1 million, an 

increase of $100.5 million from the previous quarter and an increase of 

$281.6 million from the previous year.4 Provision expense for community 

banks that had not adopted CECL accounting totaled $668.3 million, an 

increase of $72.3 million from one quarter ago and $307.6 million from 

one year ago. 

2 “All other noninterest income” includes income and fees from ATMs and wire transfers, bank and credit card interchange fees, earnings on/increase in value of cash 

surrender value of life insurance, and safe deposit box rent. No category was the primary driver of the quarterly change. 

3 Provisions for credit losses include both losses for loans and securities for CECL adopters but only loan losses for non-adopters. 

4 The CECL analysis compares the quarterly provisions of the 161 community banks that identified as CECL adopters in fourth quarter with their provisions one year ago and one 

quarter ago. 

21 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

The reserve coverage ratio (the ratio of the allowance for credit losses 

to noncurrent loans) increased 9.6 percentage points from the previous 

quarter and 51.4 percentage points from the year-ago quarter to 

274.3 percent, the highest level in the history of the Quarterly Banking 

Profile, as noncurrent loan balances declined and the allowance for 

credit losses increased.5 The reserve coverage ratio for community 

banks was 62.3 percentage points above the reserve coverage ratio for 

noncommunity banks. 

COMMUNITY BANK ASSETS ROSE 

ON STRONG LOAN GROWTH 

Total assets increased $41.9 billion (1.6 percent) from third quarter 2022 

and $119.4 billion (4.6 percent) from the previous year. Total loans and 

leases, which increased $64.3 billion (3.7 percent) from one quarter ago 

and $230.2 billion (14.4 percent) from one year ago, drove quarterly and 

annual asset growth. Declines in cash and balances due from depository 

institutions of $24.0 billion (13.6 percent) from the previous quarter and 

$148.7 billion (49.3 percent) from the previous year offset a portion of 

total loan and lease growth. The balance of securities fell $866.9 million 

(0.1 percent) from third quarter 2022, weighing on quarterly asset 

growth, but remained $23.5 billion higher than one year ago. 

UNREALIZED LOSSES ON 

SECURITIES DECREASED BUT 

REMAIN ELEVATED 

Unrealized losses on securities totaled $68.0 billion in the fourth 

quarter, down from $75.0 billion in the third quarter. Unrealized losses 

on held-to-maturity securities totaled $11.2 billion, while unrealized 

losses on available-for-sale securities totaled $56.9 billion in the fourth 

quarter. 

LOAN GROWTH WAS STRONG AND 

BROAD BASED 

Total loan and lease balances in all major portfolios increased from one 

quarter ago, and 82.1 percent of community banks reported quarterly 

loan growth. Growth in nonfarm, nonresidential CRE loan balances 

of $17.5 billion (3.2 percent) and 1–4 family residential real estate loan 

balances of $16.9 billion (4.1 percent) drove the quarterly increase in loan 

balances. 

Loan balances in all portfolios also grew from one year ago, and 

87.9 percent of community banks reported annual loan growth. 

Growth in nonfarm, nonresidential CRE loan balances of $70.6 billion 

(14.1 percent) and 1–4 family residential real estate loan balances of 

$59.8 billion (16.3 percent) drove the annual increase. C&I loan balances 

grew by just $12.3 billion (5.4 percent) from fourth quarter 2021 

primarily due to Paycheck Protection Program (PPP) loan repayment and 

forgiveness. PPP loan balances declined by $24.1 billion (91.8 percent) 

from fourth quarter 2021 to $2.2 billion. Excluding the effect of declines 

in PPP loans, annual total loan growth would have been 16.2 percent and 

annual C&I loan growth would have been 18.0 percent. 

5 The reserve coverage ratio is the ratio of the allowance for credit losses to the total of loans that are 90 days or more past due plus the total of loans in nonaccrual status. 

22 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

DEPOSITS WERE NEARLY 

UNCHANGED FROM THE 

PREVIOUS QUARTER 

Community banks reported a nominal deposit growth rate of 

0.03 percent ($621.6 million) during fourth quarter 2022, lower than 

the growth rate of 0.8 percent reported in third quarter 2022. However, 

more than half of all community banks (55.2 percent) reported a 

decrease in deposit balances from the prior quarter. Growth in deposit 

accounts with less than $250,000 (up $20.6 billion) drove total deposit 

growth and was almost entirely offset by a decline in uninsured 

balances. In the fourth quarter, growth in interest-bearing deposit 

balances (up $19.5 billion, or 1.2 percent) was largely offset by a decline 

in noninterest-bearing deposits. Deposit balances rose 3.5 percent 

($77.2 billion) from one year ago. 

Other borrowed money rose $27.9 billion (34.6 percent) from one quarter 

ago because of an increase in Federal Home Loan Bank advances of 

$27.0 billion (35.4 percent). The share of wholesale funds to total assets 

was 19.2 percent in fourth quarter, up from 17.2 percent in third quarter 

2022 and above the pre-pandemic average of 17.5 percent.6 

EARLY-STAGE DELINQUENCIES 

CONTINUED TO RISE MODESTLY 

The rate of loans and leases 30 to 89 days past due grew 3 basis points 

from one quarter and one year ago to 0.36 percent, a level that remains 

below the pre-pandemic average of 0.55 percent. The residential real 

estate loan past-due rate rose 13 basis points from the prior quarter and 

1 basis point from the year-ago quarter to 0.52 percent, but remained 

below the pre-pandemic average of 0.82 percent. The nonfarm, 

nonresidential CRE loan past-due rate rose 2 basis points from the prior 

quarter but remained the same as the year-ago quarter at 0.17 percent. 

THE NONCURRENT LOAN RATE 

REACHED A NEW RECORD LOW 

Loans and leases 90 days or more past due or in nonaccrual status 

(noncurrent loan balances) continued to decline, and the noncurrent 

rate decreased 2 basis points from third quarter 2022 to 0.44 percent. 

This is the lowest noncurrent rate on record for community banks 

since data collection began in first quarter 1984. Slightly more than 

half of community banks (50.8 percent) reported quarter-over-quarter 

reductions in noncurrent loan balances. Noncurrent loan balances for 

1–4 family residential real estate and consumer loans increased slightly 

from the prior quarter; however, these increases were less than the 

declines community banks reported in the noncurrent loan balances of 

nonfarm, nonresidential CRE loans, farm loans, and C&I loans. 

6 Wholesale funding includes federal funds purchased and securities sold under agreement to repurchase; Federal Home Loan Bank borrowings; brokered (net of reciprocal 

deposits), municipal and state, and foreign deposits (which are not FDIC insured); other borrowings; and listing services. 

23 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

THE NET CHARGE-OFF RATE 

REMAINED LOW 

The community banks net charge-off rate increased to 0.11 percent from 

0.09 percent in fourth quarter 2021. The net charge-off rate declined 

for larger portfolios such as nonfarm, nonresidential CRE (which make 

up 31.2 percent of total loan balances), which dropped 2 basis points to 

0.04 percent. In contrast, the net charge-off rate for consumer loans 

(which account for 4.4 percent of total loan balances) increased 39 basis 

points from the prior quarter and more than doubled from one year ago 

to 1.23 percent. 

CAPITAL RATIOS 

REMAINED STRONG 

The tier 1 risk-based capital ratio for community banks that did not 

file the community bank leverage ratio (CBLR) was 13.62 percent, 

down 11 basis points from the prior quarter, as growth in higher riskweighted assets outpaced tier 1 capital formation. The average CBLR 

for the 1,608 community banks that elected to use the CBLR framework 

was 11.87 percent, up 5 basis points from third quarter 2022. The 

leverage capital ratio for community banks increased 8 basis points 

to 10.51 percent in fourth quarter 2022. Equity capital rose $10.8 billion 

(4.5 percent) in fourth quarter 2022 as lower market interest rates 

improved the value of available-for-sale investment securities, resulting 

in a slight reversal in the negative accumulated other comprehensive 

income observed in previous quarters. However, no community banks 

are advanced approach institutions and, therefore, these losses did not 

directly affect their regulatory capital ratios. 

TWO COMMUNITY BANKS OPENED 

AND NO COMMUNITY BANKS FAILED 

IN FOURTH QUARTER 2022 

The number of community banks declined to 4,258 in the fourth quarter, 

down 45 from the previous quarter. Eleven banks transitioned from 

community to noncommunity banks, one bank transitioned from a 

noncommunity to a community bank, six community banks ceased 

operations, 31 community banks merged during the quarter, and two 

new community banks started reporting financial results. 

Author: 

Dorothy G. Miranda 

Senior Financial Analyst 

Division of Insurance and Research 

24 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

TABLE I-B. Selected Indicators, FDIC-Insured Community Banks 

Return on assets (%) 

Return on equity (%) 

Core capital (leverage) ratio (%) 

Noncurrent assets plus other real estate owned to assets (%) 

Net charge-offs to loans (%) 

Asset growth rate (%) 

Net interest margin (%) 

Net operating income growth (%) 

Number of institutions reporting 

Percentage of unprofitable institutions (%) 

* Excludes insured branches of foreign banks (IBAs). 

2022 2021 2020 2019 2018 2017 2016 

1.15 1.26 1.09 1.20 1.19 0.96 0.97 

12.01 11.70 9.72 10.24 10.51 8.65 8.70 

10.51 10.16 10.32 11.14 11.13 10.80 10.68 

0.33 0.40 0.60 0.65 0.71 0.79 0.94 

0.07 0.07 0.12 0.13 0.12 0.16 0.16 

-1.61 8.86 12.15 2.55 0.23 0.36 3.31 

3.45 3.28 3.39 3.66 3.73 3.62 3.57 

-3.60 29.68 -2.07 0.13 25.30 0.60 1.30 

4,258 4,386 4,556 4,750 4,978 5,224 5,461 

3.45 3.26 4.52 3.96 3.66 5.72 4.69 

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2023 VOLUME 17, NUMBER 1 

TABLE II-B. Aggregate Condition and Income Data, FDIC-Insured Community Banks 

(dollar figures in millions) 

Number of institutions reporting

Total employees (full-time equivalent) 

4th Quarter 3rd Quarter 4th Quarter %Change

2022 2022 2021 21Q4-22Q4 

 4,258 4,303 4,386 -2.9 

375,620 379,800 385,572 -2.6 

CONDITION DATA 

Total assets $2,711,770 $2,704,138 $2,756,197 -1.6 

Loans secured by real estate 1,410,210 1,377,009 1,297,969 8.6 

1-4 Family residential mortgages 426,110 415,262 389,740 9.3 

Nonfarm nonresidential 569,754 559,184 533,122 6.9 

Construction and development 150,811 145,502 130,834 15.3 

Home equity lines 43,905 42,892 39,918 10.0 

Commercial & industrial loans 240,700 237,022 248,159 -3.0 

Loans to individuals 80,250 78,773 66,027 21.5 

Credit cards 2,740 2,550 2,137 28.2 

Farm loans 48,083 47,138 46,971 2.4 

Other loans & leases 47,251 47,242 51,838 -8.8 

Less: Unearned income 748 709 856 -12.7 

Total loans & leases 1,825,746 1,786,475 1,710,108 6.8 

Less: Reserve for losses* 22,096 21,936 22,149 -0.2 

Net loans and leases 1,803,650 1,764,539 1,687,958 6.9 

Securities** 599,627 604,686 599,817 0.0 

Other real estate owned 793 862 1,157 -31.5 

Goodwill and other intangibles 18,565 18,288 20,847 -10.9 

All other assets 289,135 315,764 446,418 -35.2 

Total liabilities and capital 2,711,770 2,704,138 2,756,197 -1.6 

Deposits 2,303,514 2,331,387 2,362,315 -2.5 

Domestic office deposits 2,302,836 2,330,847 2,359,910 -2.4 

Foreign office deposits 677 541 2,405 -71.8 

Brokered deposits 84,257 64,680 50,186 67.9 

Estimated insured deposits 1,556,141 1,563,138 1,571,510 -1.0 

Other borrowed funds 130,729 103,703 78,357 66.8 

Subordinated debt 320 326 272 17.5 

All other liabilities 25,461 24,370 22,473 13.3 

Total equity capital (includes minority interests) 251,746 244,352 292,780 -14.0 

Bank equity capital 251,616 244,219 292,651 -14.0 

Loans and leases 30-89 days past due 6,527 5,838 5,655 15.4 

Noncurrent loans and leases 8,056 8,287 9,936 -18.9 

Restructured loans and leases 3,943 4,122 4,659 -15.4 

Mortgage-backed securities 243,444 246,589 266,701 -8.7 

Earning assets 2,533,930 2,529,136 2,591,883 -2.2 

FHLB Advances 103,346 78,234 53,412 93.5 

Unused loan commitments 427,064 433,906 396,972 7.6 

Trust assets 350,204 352,806 406,950 -13.9 

Assets securitized and sold 26,338 24,586 25,196 4.5 

Notional amount of derivatives 103,638 105,130 125,294 -17.3 

INCOME DATA 

Full Year Full Year 4th Quarter 4th Quarter %Change

2022 2021 %Change 2022 2021 21Q4-22Q4 

Total interest income $96,354 $88,252 9.2 $28,457 $22,289 27.7 

Total interest expense 11,152 7,655 45.7 5,175 1,690 206.1 

Net interest income 85,202 80,596 5.7 23,283 20,599 13.0 

Provision for credit losses*** 2,558 1,091 134.4 938 333 181.6 

Total noninterest income 19,945 24,900 -19.9 4,878 6,085 -19.8 

Total noninterest expense 64,897 64,977 -0.1 17,168 17,075 0.5 

Securities gains (losses) -789 845 -193.4 -62 187 -133.0 

Applicable income taxes 6,511 7,342 -11.3 1,741 1,719 1.3 

Extraordinary gains, net**** 23 30 -22.9 28 28 0.0 

Total net income (includes minority interests) 30,414 32,960 -7.7 8,279 7,771 6.5 

Bank net income 30,403 32,932 -7.7 8,279 7,774 6.5 

Net charge-offs 1,107 1,097 0.9 498 370 34.6 

Cash dividends 12,349 14,073 -12.2 3,791 4,547 -16.6 

Retained earnings 18,053 18,859 -4.3 4,488 3,227 39.1 

Net operating income 31,067 32,225 -3.6 8,330 7,589 9.8 

* For institutions that have adopted ASU 2016-13, this item represents the allowance for credit losses on loans and leases held for investment and allocated transfer risk.

** For institutions that have adopted ASU 2016-13, securities are reported net of allowances for credit losses.

*** For institutions that have adopted ASU 2016-13, this item represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13,

this item represents the provision for loan and lease losses.

**** See Notes to Users for explanation. N/M - Not Meaningful 

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2023 VOLUME 17, NUMBER 1 

TABLE II-B. Aggregate Condition and Income Data, FDIC-Insured Community Banks 

Prior Periods Adjusted for Mergers 

(dollar figures in millions) 

Number of institutions reporting

Total employees (full-time equivalent)

4th Quarter 3rd Quarter 4th Quarter %Change

2022 2022 2021 21Q4-22Q4 

 4,258 4,256 4,245 0.3 

 375,620 375,747 372,007 1.0 

CONDITION DATA 

Total assets $2,711,770 $2,669,865 $2,592,362 4.6 

Loans secured by real estate 1,410,210 1,359,161 1,214,442 16.1 

1-4 Family residential mortgages 426,110 409,167 366,287 16.3 

Nonfarm nonresidential 569,754 552,238 499,164 14.1 

Construction and development 150,811 143,595 121,964 23.7 

Home equity lines 43,905 42,419 37,719 16.4 

Commercial & industrial loans 240,700 233,377 228,391 5.4 

Loans to individuals 80,250 76,383 62,264 28.9 

Credit cards 2,740 2,540 1,915 43.0 

Farm loans 48,083 46,559 46,128 4.2 

Other loans & leases 47,251 46,626 45,117 4.7 

Less: Unearned income 748 706 778 -3.9 

Total loans & leases 1,825,746 1,761,399 1,595,564 14.4 

Less: Reserve for losses* 22,096 21,701 20,816 6.1 

Net loans and leases 1,803,650 1,739,698 1,574,747 14.5 

Securities** 599,627 600,494 576,088 4.1 

Other real estate owned 793 843 1,128 -29.7 

Goodwill and other intangibles 18,565 18,056 17,064 8.8 

All other assets 289,135 310,774 423,335 -31.7 

Total liabilities and capital 2,711,770 2,669,865 2,592,362 4.6 

Deposits 2,303,514 2,302,892 2,226,309 3.5 

Domestic office deposits 2,302,836 2,302,352 2,225,669 3.5 

Foreign office deposits 677 541 641 5.7 

Brokered deposits 84,257 63,639 45,588 84.8 

Estimated insured deposits 1,556,141 1,545,903 1,495,145 4.1 

Other borrowed funds 130,729 101,694 72,087 81.3 

Subordinated debt 320 320 234 36.7 

All other liabilities 25,461 24,048 20,172 26.2 

Total equity capital (includes minority interests) 251,746 240,911 273,560 -8.0 

Bank equity capital 251,616 240,778 273,438 -8.0 

Loans and leases 30-89 days past due 6,527 5,776 5,385 21.2 

Noncurrent loans and leases 8,056 8,223 9,230 -12.7 

Restructured loans and leases 3,943 4,088 4,505 -12.5 

Mortgage-backed securities 243,444 245,542 253,051 -3.8 

Earning assets 2,533,930 2,496,815 2,440,425 3.8 

FHLB Advances 103,346 76,376 48,084 114.9 

Unused loan commitments 427,064 428,299 368,994 15.7 

Trust assets 350,204 278,762 380,934 -8.1 

Assets securitized and sold 26,338 24,586 24,701 6.6 

Notional amount of derivatives 103,638 104,860 106,105 -2.3 

INCOME DATA 

Full Year Full Year 4th Quarter 4th Quarter %Change

2022 2021 %Change 2022 2021 21Q4-22Q4 

Total interest income $96,354 $82,696 16.5 $28,457 $20,949 35.8 

Total interest expense 11,152 7,224 54.4 5,175 1,602 223.0 

Net interest income 85,202 75,472 12.9 23,283 19,347 20.3 

Provision for credit losses*** 2,558 1,154 121.7 938 349 168.7 

Total noninterest income 19,945 23,700 -15.8 4,878 5,921 -17.6 

Total noninterest expense 64,897 61,655 5.3 17,168 16,313 5.2 

Securities gains (losses) -789 802 -198.4 -62 179 -134.4 

Applicable income taxes 6,511 6,660 -2.2 1,741 1,568 11.0 

Extraordinary gains, net**** 23 8 176.8 28 6 326.8 

Total net income (includes minority interests) 30,414 30,513 -0.3 8,279 7,223 14.6 

Bank net income 30,403 30,490 -0.3 8,279 7,211 14.8 

Net charge-offs 1,107 999 10.8 498 343 45.2 

Cash dividends 12,349 13,320 -7.3 3,791 4,350 -12.9 

Retained earnings 18,053 17,170 5.1 4,488 2,860 56.9 

Net operating income 31,067 29,835 4.1 8,330 7,068 17.9 

* For institutions that have adopted ASU 2016-13, this item represents the allowance for credit losses on loans and leases held for investment and allocated transfer risk.

** For institutions that have adopted ASU 2016-13, securities are reported net of allowances for credit losses.

*** For institutions that have adopted ASU 2016-13, this item represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13,

this item represents the provision for loan and lease losses.

**** See Notes to Users for explanation. N/M - Not Meaningful 

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2023 VOLUME 17, NUMBER 1 

TABLE III-B. Aggregate Condition and Income Data by Geographic Region, FDIC-Insured Community Banks 

Fourth Quarter 2022 

(dollar figures in millions) 

Number of institutions reporting 

Total employees (full-time equivalent) 

All Community

Banks 

Geographic Regions* 

New York Atlanta Chicago Kansas City Dallas San Francisco 

4,258 

375,620 

469 479 939 1,154 960 257 

74,897 39,192 77,700 71,672 81,937 30,222 

CONDITION DATA 

Total assets $2,711,770 $656,637 $288,265 $504,424 $495,255 $521,456 $245,732 

Loans secured by real estate 1,410,210 388,930 150,354 252,298 239,993 255,368 123,268 

1-4 Family residential mortgages 426,110 141,604 43,674 72,637 68,231 73,243 26,721 

Nonfarm nonresidential 569,754 146,753 69,873 99,886 84,023 107,521 61,697 

Construction and development 150,811 27,684 18,339 23,194 26,080 44,380 11,133 

Home equity lines 43,905 11,499 5,885 10,420 5,618 5,320 5,163 

Commercial & industrial loans 240,700 51,746 23,897 50,544 49,704 46,960 17,849 

Loans to individuals 80,250 18,541 7,269 13,613 13,271 13,277 14,280 

Credit cards 2,740 401 109 193 1,030 252 755 

Farm loans 48,083 576 1,314 8,595 27,955 7,171 2,472 

Other loans & leases 47,251 14,775 3,207 10,523 7,831 7,805 3,109 

Less: Unearned income 748 118 110 71 119 201 129 

Total loans & leases 1,825,746 474,451 185,930 335,502 338,635 330,380 160,848 

Less: Reserve for losses** 22,096 4,962 2,237 4,032 4,451 4,209 2,205 

Net loans and leases 1,803,650 469,488 183,694 331,470 334,184 326,170 158,644 

Securities*** 599,627 121,653 65,326 116,852 110,593 128,780 56,423 

Other real estate owned 793 147 93 154 193 167 40 

Goodwill and other intangibles 18,565 4,831 948 4,299 3,478 3,648 1,362 

All other assets 289,135 60,518 38,205 51,650 46,808 62,691 29,263 

Total liabilities and capital 2,711,770 656,637 288,265 504,424 495,255 521,456 245,732 

Deposits 2,303,514 543,985 249,896 427,197 419,780 454,141 208,515 

Domestic office deposits 2,302,836 543,337 249,890 427,197 419,780 454,141 208,490 

Foreign office deposits 677 647 6 0 0 0 25 

Brokered deposits 84,257 31,479 7,688 14,351 14,368 10,063 6,309 

Estimated insured deposits 1,556,141 370,662 158,686 304,489 304,403 291,686 126,215 

Other borrowed funds 130,729 39,227 11,041 27,278 27,324 16,394 9,465 

Subordinated debt 320 148 0 16 6 139 10 

All other liabilities 25,461 8,787 2,528 3,965 3,792 3,495 2,895 

Total equity capital (includes minority

interests) 

251,746 64,490 24,801 45,968 44,352 47,287 24,847 

Bank equity capital 251,616 64,465 24,799 45,876 44,351 47,277 24,846 

Loans and leases 30-89 days past due 6,527 1,466 622 1,069 1,201 1,691 478 

Noncurrent loans and leases 8,056 2,402 624 1,509 1,247 1,621 653 

Restructured loans and leases 3,943 1,443 282 809 603 502 304 

Mortgage-backed securities 243,444 62,338 29,132 42,551 36,148 46,612 26,662 

Earning assets 2,533,930 614,247 269,695 470,112 462,851 486,365 230,659 

FHLB Advances 103,346 34,268 9,024 21,526 20,211 12,016 6,301 

Unused loan commitments 427,064 96,411 39,443 82,534 90,170 79,996 38,509 

Trust assets 350,204 66,028 14,238 76,504 135,046 46,738 11,650 

Assets securitized and sold 26,338 10,903 10 4,655 5,622 4,648 500 

Notional amount of derivatives 103,638 43,111 10,442 14,685 20,450 7,272 7,678 

INCOME DATA 

Total interest income $28,457 $6,745 $3,052 $5,137 $5,108 $5,681 $2,735 

Total interest expense 5,175 1,461 482 923 1,042 885 381 

Net interest income 23,283 5,284 2,570 4,214 4,066 4,796 2,353 

Provision for credit losses  938 208 111 131 148 214 126 

Total noninterest income 4,878 937 439 1,176 894 908 524 

Total noninterest expense 17,168 3,919 1,797 3,149 3,079 3,456 1,768 

Securities gains (losses) -62 161 -33 -62 -59 -48 -21 

Applicable income taxes 1,741 523 198 354 230 220 216 

Extraordinary gains, net** *** 28 28 -1 0 0 0 0 

Total net income (includes minority interests) 8,279 1,759 869 1,694 1,446 1,766 746 

Bank net income 8,279 1,759 869 1,694 1,446 1,765 746 

Net charge-offs 498 113 46 67 107 86 79 

Cash dividends 3,791 553 381 903 760 882 311 

Retained earnings 4,488 1,206 488 790 686 884 434 

Net operating income 8,330 1,610 897 1,749 1,499 1,810 764 

* See Table V-A for explanation.

** For institutions that have adopted ASU 2016-13, this item represents the allowance for credit losses on loans and leases held for investment and allocated transfer risk.

*** For institutions that have adopted ASU 2016-13, securities are reported net of allowances for credit losses.

  For institutions that have adopted ASU 2016-13, this item represents provisions for credit losses on a consolidated basis; for institutions that have not adopted ASU 2016-13,

this item represents the provision for loan and lease losses.

** *** See Notes to Users for explanation. 

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2023 VOLUME 17, NUMBER 1 

Table IV-B. Fourth Quarter 2022, FDIC-Insured Community Banks 

Performance ratios (annualized, %) 

Yield on earning assets 

All Community Banks Fourth Quarter 2022, Geographic Regions*

 4th Quarter 3rd Quarter 

2022 2022 New York Atlanta Chicago Kansas City Dallas San Francisco 

4.53 4.09 4.43 4.57 4.40 4.47 4.72 4.76 

Cost of funding earning assets 0.82 0.46 0.96 0.72 0.79 0.91 0.74 0.66 

Net interest margin 3.71 3.63 3.47 3.84 3.61 3.55 3.98 4.10 

Noninterest income to assets 0.73 0.76 0.58 0.62 0.94 0.73 0.70 0.86 

Noninterest expense to assets 2.56 2.50 2.41 2.52 2.52 2.52 2.68 2.89 

Loan and lease loss provision to assets 0.14 0.12 0.13 0.15 0.10 0.12 0.17 0.21 

Net operating income to assets 1.24 1.28 0.99 1.26 1.40 1.23 1.40 1.25 

Pretax return on assets 1.49 1.51 1.40 1.49 1.64 1.37 1.54 1.57 

Return on assets 1.23 1.25 1.08 1.22 1.35 1.18 1.37 1.22 

Return on equity 13.47 13.56 11.11 14.30 15.10 13.37 15.43 12.30 

Net charge-offs to loans and leases 0.11 0.07 0.10 0.10 0.08 0.13 0.11 0.20 

Loan and lease loss provision to net charge-offs 185.64 241.71 179.99 243.03 189.28 137.65 241.71 161.50 

Efficiency ratio 60.59 59.62 62.70 59.29 57.99 61.63 60.21 61.18 

Net interest income to operating revenue 82.68 81.73 84.94 85.40 78.18 81.97 84.08 81.79 

% of unprofitable institutions 5.75 3.60 5.33 5.85 5.22 5.81 5.94 7.39 

% of institutions with earnings gains 70.57 63.10 64.61 76.83 69.97 69.50 73.02 67.70 

* See Table V-A for explanation. 

Table V-B. Full Year 2022, FDIC-Insured Community Banks 

Performance ratios (%) 

Yield on earning assets 

All Community Banks Full Year 2022, Geographic Regions* 

Full Year Full Year 

2022 2021 New York Atlanta Chicago Kansas City Dallas San Francisco 

3.90 3.59 3.85 3.89 3.77 3.87 4.07 4.00 

Cost of funding earning assets 0.45 0.31 0.51 0.39 0.44 0.51 0.41 0.35 

Net interest margin 3.45 3.28 3.33 3.49 3.33 3.36 3.66 3.65 

Noninterest income to assets 0.76 0.95 0.58 0.64 0.97 0.80 0.76 0.83 

Noninterest expense to assets 2.46 2.48 2.31 2.45 2.45 2.44 2.56 2.74 

Loan and lease loss provision to assets 0.10 0.04 0.10 0.10 0.07 0.09 0.12 0.13 

Net operating income to assets 1.18 1.23 1.00 1.12 1.29 1.23 1.33 1.07 

Pretax return on assets 1.40 1.54 1.23 1.35 1.54 1.41 1.49 1.39 

Return on assets 1.15 1.26 0.95 1.10 1.27 1.21 1.32 1.06 

Return on equity 12.01 11.70 9.38 12.22 13.34 12.96 14.12 10.43 

Net charge-offs to loans and leases 0.07 0.07 0.08 0.05 0.04 0.07 0.07 0.08 

Loan and lease loss provision to net charge-offs 226.90 99.95 173.03 304.87 270.11 191.62 275.05 258.88 

Efficiency ratio 61.36 61.22 62.07 61.93 59.60 61.16 60.88 63.94 

Net interest income to operating revenue 81.03 76.40 84.38 83.59 76.35 79.77 81.80 80.51 

% of unprofitable institutions 3.45 3.26 5.54 5.22 3.41 1.82 2.50 7.39 

% of institutions with earnings gains 56.20 74.72 59.91 71.40 53.57 42.81 65.94 54.47 

* See Table V-A for explanation. 

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2023 VOLUME 17, NUMBER 1 

Table VI-B. Loan Performance, FDIC-Insured Community Banks 

December 31, 2022 

Percent of Loans 30-89 Days Past Due 

All Community

Banks 

Geographic Regions* 

New York Atlanta Chicago Kansas City Dallas San Francisco 

All loans secured by real estate 0.29 0.25 0.27 0.32 0.30 0.40 0.20 

Construction and development 0.28 0.24 0.14 0.27 0.39 0.31 0.33 

Nonfarm nonresidential 0.17 0.17 0.12 0.18 0.20 0.22 0.10 

Multifamily residential real estate 0.08 0.10 0.05 0.07 0.02 0.22 0.06 

Home equity loans 0.39 0.45 0.43 0.37 0.32 0.44 0.24 

Other 1-4 family residential 0.52 0.38 0.58 0.63 0.47 0.72 0.44 

Commercial and industrial loans 0.41 0.26 0.54 0.27 0.49 0.53 0.55 

Loans to individuals 1.47 1.84 1.11 0.76 1.26 2.74 0.86 

Credit card loans 3.81 2.04 1.33 1.00 6.12 1.58 3.41 

Other loans to individuals 1.39 1.83 1.11 0.76 0.85 2.76 0.72 

All other loans and leases (including farm) 0.23 0.14 0.25 0.15 0.23 0.42 0.25 

Total loans and leases 0.36 0.31 0.33 0.32 0.35 0.51 0.30 

Percent of Loans Noncurrent 

All loans secured by real estate 0.41 0.47 0.31 0.47 0.34 0.42 0.29 

Construction and development 0.25 0.40 0.13 0.32 0.23 0.14 0.36 

Nonfarm nonresidential 0.38 0.44 0.29 0.49 0.33 0.40 0.24 

Multifamily residential real estate 0.16 0.18 0.12 0.18 0.14 0.13 0.13 

Home equity loans 0.36 0.46 0.19 0.28 0.35 0.28 0.61 

Other 1-4 family residential 0.53 0.62 0.44 0.59 0.35 0.59 0.34 

Commercial and industrial loans 0.65 0.88 0.51 0.49 0.49 0.67 1.03 

Loans to individuals 0.54 0.53 0.32 0.26 0.44 1.23 0.39 

Credit card loans 2.03 1.49 0.47 0.35 2.22 0.75 3.14 

Other loans to individuals 0.49 0.51 0.32 0.26 0.29 1.24 0.24 

All other loans and leases (including farm) 0.33 0.11 0.29 0.20 0.35 0.41 0.98 

Total loans and leases 0.44 0.51 0.34 0.45 0.37 0.49 0.41 

Percent of Loans Charged-Off (net, YTD) 

All loans secured by real estate 0.01 0.01 -0.01 0.01 0.01 0.00 0.00 

Construction and development 0.00 0.02 -0.03 -0.01 0.01 -0.01 -0.02 

Nonfarm nonresidential 0.02 0.02 0.00 0.03 0.02 0.01 0.00 

Multifamily residential real estate 0.01 0.01 0.00 0.00 0.02 -0.01 0.00 

Home equity loans -0.01 -0.02 -0.03 -0.01 0.00 0.00 0.00 

Other 1-4 family residential 0.00 0.00 -0.02 0.00 0.00 0.00 0.00 

Commercial and industrial loans 0.15 0.29 0.19 0.11 0.10 0.15 -0.02 

Loans to individuals 0.86 0.89 0.78 0.26 1.08 0.98 1.24 

Credit card loans 6.51 3.33 0.86 0.97 11.49 1.40 5.24 

Other loans to individuals 0.67 0.83 0.78 0.25 0.26 0.97 1.03 

All other loans and leases (including farm) 0.07 0.05 0.16 0.06 0.04 0.11 0.19 

Total loans and leases 0.07 0.08 0.05 0.04 0.07 0.07 0.08 

Loans Outstanding (in billions) 

All real estate loans $1,410.2 $388.9 $150.4 $252.3 $240.0 $255.4 $123.3 

Construction and development 150.8 27.7 18.3 23.2 26.1 44.4 11.1 

Nonfarm nonresidential 569.8 146.8 69.9 99.9 84.0 107.5 61.7 

Multifamily residential real estate 135.1 58.9 8.0 26.6 17.5 9.0 15.1 

Home equity loans 43.9 11.5 5.9 10.4 5.6 5.3 5.2 

Other 1-4 family residential 426.1 141.6 43.7 72.6 68.2 73.2 26.7 

Commercial and industrial loans 240.7 51.7 23.9 50.5 49.7 47.0 17.8 

Loans to individuals 80.2 18.5 7.3 13.6 13.3 13.3 14.3 

Credit card loans 2.7 0.4 0.1 0.2 1.0 0.3 0.8 

Other loans to individuals 77.5 18.1 7.2 13.4 12.2 13.0 13.5 

All other loans and leases (including farm) 95.3 15.4 4.5 19.1 35.8 15.0 5.6 

Total loans and leases 1,826.5 474.6 186.0 335.6 338.8 330.6 161.0 

Memo: Unfunded Commitments (in millions) 

Total Unfunded Commitments 427,064 96,411 39,443 82,534 90,170 79,996 38,509 

Construction and development: 1-4 family residential 39,013 6,678 5,820 4,460 6,031 13,157 2,868 

Construction and development: CRE and other 104,404 25,052 10,278 18,924 18,116 24,690 7,344 

Commercial and industrial 126,799 30,332 10,174 28,632 25,903 20,918 10,840 

* See Table V-A for explanation.

Note: Noncurrent loan rates represent the percentage of loans in each category that are past due 90 days or more or that are in nonaccrual status. 

30 
31 

QUARTERLY 2023 VOLUME 17, NUMBER 1 

INSURANCE FUND INDICATORS 

Deposit Insurance Fund Increases by $2.8 Billion 

Insured Deposits Rise by 1.4 Percent 

DIF Reserve Ratio Increases to 1.27 Percent 

During the fourth quarter, the Deposit Insurance Fund (DIF) balance 

increased by $2.8 billion to $128.2 billion. Assessment revenue of 

$2.1 billion was the largest source of income. Interest earned on 

investments of $498 million, a net decrease in unrealized losses on 

available-for-sale securities of $474 million, negative provisions for 

insurance losses of $48 million, and other miscellaneous income of 

$114 million (largely attributable to an unrealized postretirement 

benefit gain) also added to the fund balance. Operating expenses 

of $515 million partially offset the increase in the fund balance. No 

insured institutions failed in the fourth quarter. 

The deposit insurance assessment base—average consolidated total 

assets minus average tangible equity—increased by 0.3 percent in the 

fourth quarter, though it rose by 1.9 percent over the last 12 months.1 , 2 

Total estimated insured deposits increased by 1.4 percent in the fourth 

quarter of 2022 and increased by 3.3 percent year over year. The DIF’s 

reserve ratio (the fund balance as a percent of insured deposits) was 

1.27 percent on December 31, 2022, up 1 basis point from the previous 

quarter and 1 basis point higher than the previous year. 

The FDIC adopted a restoration plan on September 15, 2020, to restore 

the reserve ratio to 1.35 percent, the statutory minimum, by September 

2028 as required by law. In October, the FDIC Board finalized a rule 

to increase initial base deposit insurance assessment rates by 2 basis 

points, beginning in the first quarter of 2023. These actions were 

undertaken to improve the likelihood that the reserve ratio reaches the 

statutory minimum of 1.35 percent before the statutory deadline while 

reducing the potential for a pro-cyclical increase in assessment rates 

should the banking industry enter a period of stress in the interim. 

Author: 

Charles James 

Financial Economist 

Division of Insurance and Research 

1 There are additional adjustments to the assessment base for banker’s banks and custodial banks. 

2 Figures for estimated insured deposits and the assessment base include insured branches of foreign banks, in addition to insured commercial banks and savings institutions. 
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2023 VOLUME 17, NUMBER 1 

Table I-C. Insurance Fund Balances and Selected Indicators 

(dollar figures in millions) 

Deposit Insurance Fund* 

4th 

Quarter 

2022 

3rd 

Quarter 

2022 

2nd 

Quarter 

2022 

1st 

Quarter 

2022 

4th 

Quarter 

2021 

3rd 

Quarter 

2021 

2nd 

Quarter 

2021 

1st 

Quarter 

2021 

4th 

Quarter 

2020 

3rd 

Quarter 

2020 

2nd 

Quarter 

2020 

1st 

Quarter 

2020 

4th 

Quarter 

2019 

Beginning Fund Balance $125,457 $124,458 $123,039 $123,141 $121,935 $120,547 $119,362 $117,897 $116,434 $114,651 $113,206 $110,347 $108,940 

Changes in Fund

Balance: 

Assessments earned 

Interest earned on 

investment securities 

Realized gain on sale of

investments 

Operating expenses 

Provision for insurance 

losses 

All other income, 

net of expenses 

Unrealized gain/(loss) on

available-for-sale 

securities** 

Total fund balance change 

2,142 

498 

0 

515 

-48 

114 

474 

2,761 

2,145 

332 

0 

456 

-49 

6 

-1,077 

999 

2,086 

225 

0 

460 

-86 

29 

-547 

1,419 

1,938 

191 

0 

453 

100 

8 

-1,686 

-102 

1,967 

197 

0 

475 

8 

61 

-536 

1,206 

1,662 

221 

0 

448 

-53 

65 

-165 

1,388 

1,589 

251 

0 

466 

-42 

2 

-233 

1,185 

1,862 

284 

0 

454 

-57 

1 

-285 

1,465 

1,884 

330 

0 

470 

-48 

9 

-338 

1,463 

2,047 

392 

0 

451 

-74 

5 

-284 

1,783 

1,790 

454 

0 

465 

-47 

2 

-383 

1,445 

1,372 

507 

0 

460 

12 

2 

1,450 

2,859 

1,272 

531 

0 

460 

-88 

21 

-45 

1,407 

Ending Fund Balance 

Percent change from

four quarters earlier 

128,218 

4.12 

125,457 

2.89 

124,458 

3.24 

123,039 

3.08 

123,141 

4.45 

121,935 

4.72 

120,547 

5.14 

119,362 

5.44 

117,897 

6.84 

116,434 

6.88 

114,651 

6.71 

113,206 

7.95 

110,347 

7.54 

Reserve Ratio (%) 1.27 1.26 1.26 1.23 1.26 1.27 1.27 1.25 1.29 1.30 1.30 1.38 1.41 

Estimated Insured 

Deposits 

Percent change from

four quarters earlier 

10,067,996 

3.33 

9,925,602 

3.52 

9,912,197 

4.41 

9,972,566 

4.76 

9,743,587 

6.74 

9,588,373 

7.41 

9,493,550 

7.39 

9,519,014 

16.35 

9,128,608 

16.66 

8,926,807 

15.46 

8,840,599 

15.02 

8,181,082 

6.37 

7,824,654 

4.09 

Domestic Deposits 

Percent change from

four quarters earlier 

17,778,227 

-2.52 

17,941,721 

1.50 

18,127,766 

5.37 

18,426,384 

8.52 

18,237,199 

11.62 

17,677,035 

12.47 

17,203,426 

10.54 

16,980,411 

18.31 

16,339,026 

23.19 

15,716,702 

20.71 

15,563,637 

21.70 

14,351,881 

12.78 

13,262,843 

4.77 

Assessment Base*** 

Percent change from

four quarters earlier 

20,975,808 

1.95 

20,917,208 

4.49 

20,946,769 

6.47 

20,830,967 

8.50 

20,575,077 

9.46 

20,019,250 

8.47 

19,673,388 

8.36 

19,199,696 

16.45 

18,796,136 

16.32 

18,456,376 

16.03 

18,155,443 

15.75 

16,487,165 

5.94 

16,159,565 

4.57 

Number of Institutions 

Reporting 4,715 4,755 4,780 4,805 4,848 4,923 4,959 4,987 5,011 5,042 5,075 5,125 5,186 

Table II-C. Problem Institutions and Failed Institutions 

(dollar figures in millions) 2022 2021 2020 2019 2018 2017 2016 

Problem Institutions 

Number of institutions 39 44 56 51 60 95 123 

Total assets  $47,463 $170,172 $55,830 $46,190 $48,481 $13,939 $27,624 

Failed Institutions 

Number of institutions 0 0 4 4 0 8 5 

Total assets** *** $0 $0 $455 $209 $0 $5,082 $277 

* Quarterly financial statement results are unaudited.

** Includes unrealized postretirement benefit gain (loss).

*** Average consolidated total assets minus tangible equity, with adjustments for banker’s banks and custodial banks.

  Assets shown are what were on record as of the last day of the quarter.

** *** Total assets are based on final Call Reports submitted by failed institutions. 

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2023 VOLUME 17, NUMBER 1 

DIF Reserve Ratios 

Percent of Insured Deposits 

1.41 1.38 

1.30 1.30 

12/19 3/20 6/20 9/20 

Table III-C. Estimated FDIC-Insured Deposits by Type of Institution 

1.29 

12/20 

1.25 

3/21 

1.27 

6/21 

1.27 

9/21 

1.26 

12/21 

1.23 

3/22 

1.26 

6/22 

1.26 

9/22 

1.27 

12/22 

Deposit Insurance Fund Balance 

and Insured Deposits 

($ Millions) 

DIF 

Balance 

12/19 $110,347 

3/20 113,206 

6/20 114,651 

9/20 116,434 

12/20 117,897 

3/21 119,362 

6/21 120,547 

9/21 121,935 

12/21 123,141 

3/22 123,039 

6/22 124,458 

9/22 125,457 

12/22 128,218 

DIF-Insured 

Deposits 

$7,824,654 

8,181,082 

8,840,599 

8,926,807 

9,128,608 

9,519,014 

9,493,550 

9,588,373 

9,743,587 

9,972,566 

9,912,197 

9,925,602 

10,067,996 

(dollar figures in millions)

December 31, 2022 

Number of 

Institutions 

Total 

Assets 

Domestic 

Deposits* 

Est. Insured 

Deposits 

Commercial Banks and Savings Institutions 

FDIC-Insured Commercial Banks

FDIC-Supervised

OCC-Supervised

Federal Reserve-Supervised

FDIC-Insured Savings Institutions

OCC-Supervised

FDIC-Supervised

Federal Reserve-Supervised

 4,127 

 2,743

 720 

 664 

 579 

 253 

 289

 37 

$22,319,462 

 4,135,162

 14,620,354

 3,563,946

 1,280,551 

 539,499

 307,909

 433,143

$16,643,794 

 3,395,264

 10,588,290 

 2,660,240 

 1,081,571

 429,842

 251,115 

 400,614

$9,159,536 

 2,076,819 

 5,777,948 

 1,304,769 

 864,751 

 358,192 

 183,697 

 322,863 

Total Commercial Banks and Savings Institutions 4,706 23,600,014 17,725,365 10,024,287 

Other FDIC-Insured Institutions 

U.S. Branches of Foreign Banks 9 105,313 52,862 43,709 

Total FDIC-Insured Institutions 4,715 23,705,326 17,778,227 10,067,996 

* Excludes $1.5 trillion in foreign office deposits, which are not FDIC insured. 

Table IV-C. Distribution of Institutions and Assessment Base by Assessment Rate Range 

Quarter Ending September 30, 2022 (dollar figures in billions) 

Number of Percent of Total Amount of Percent of Total 

Annual Rate in Basis Points* Institutions Institutions Assessment Base Assessment Base 

3.01 - 6.00 1,381 

10.01 - 15.00 44

 20.01 - 25.00 0 

1.50 - 3.00 2,865 60.3 $6,629.5 31.69 

29.0 12,912.0 61.73 

6.01 - 10.00 422 8.9 1,284.3 6.14 

0.9 78.5 0.38 

15.01 - 20.00 43 0.9 12.8 0.06 

0.0 0.0 0.00 

>25.00 0 0.0 0.0 0.00 

* Values do not reflect updates to assessment rates which took effect starting January 1, 2023. 

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2023 VOLUME 17, NUMBER 1 

NOTES TO USERS 

This publication contains financial data and other information for depository 

institutions insured by the Federal Deposit Insurance Corporation (FDIC). These 

notes are an integral part of this publication and provide information regarding 

the comparability of source data and reporting differences over time. 

TABLES I-A THROUGH VIII-A. The information presented in Tables I-A through VIII-A of the FDIC Quarterly 

Banking Profile is aggregated for all FDIC-insured Call Report filers, both 

commercial banks and savings institutions. Some tables are arrayed by 

groups of FDIC-insured institutions based on predominant types of asset 

concentration, while other tables aggregate institutions by asset size and 

geographic region. Quarterly and full-year data are provided for selected 

indicators, including aggregate condition and income data, performance ratios, 

condition ratios, and structural changes, as well as past due, noncurrent, and 

charge-off information for loans outstanding and other assets. 

TABLES I-B THROUGH VI-B. The information presented in Tables I-B through VI-B is aggregated 

for all FDIC-insured commercial banks and savings institutions meeting the 

criteria for community banks that were developed for the FDIC’s Community 

Banking Study, published in December, 2012: https://www.fdic.gov/resources/ 

community-banking/cbi-study.html. 

The determination of which insured institutions are considered community 

banks is based on five steps. 

The first step in defining a community bank is to aggregate all charter-level 

data reported under each holding company into a single banking organization. 

This aggregation applies both to balance-sheet measures and the number 

and location of banking offices. Under the FDIC definition, if the banking 

organization is designated as a community bank, every charter reporting under 

that organization is also considered a community bank when working with data 

at the charter level. 

The second step is to exclude any banking organization where more than 

50 percent of total assets are held in certain specialty banking charters, 

including: credit card specialists, consumer nonbank banks, industrial loan 

companies, trust companies, bankers’ banks, and banks holding 10 percent or more 

of total assets in foreign offices. 

Once the specialty organizations are removed, the third step involves including 

organizations that engage in basic banking activities as measured by the total 

loans-to-assets ratio (greater than 33 percent) and the ratio of core deposits 

to assets (greater than 50 percent). Core deposits are defined as non-brokered 

deposits in domestic offices. Analysis of the underlying data shows that these 

thresholds establish meaningful levels of basic lending and deposit gathering 

and still allow for a degree of diversity in how individual banks construct their 

balance sheets. 

The fourth step includes organizations that operate within a limited geographic 

scope. This limitation of scope is used as a proxy measure for a bank’s 

relationship approach to banking. Banks that operate within a limited market 

area have more ease in managing relationships at a personal level. Under this 

step, four criteria are applied to each banking organization. They include both 

a minimum and maximum number of total banking offices, a maximum level 

of deposits for any one office, and location-based criteria. The limits on the 

number of and deposits per office are adjusted upward quarterly. For banking 
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2023 VOLUME 17, NUMBER 1 

offices, banks must have more than one office, and the maximum number of 

offices is 40 in 1985 and reached 87 in 2016. The maximum level of deposits 

for any one office is $1.25 billion in deposits in 1985 and reached $6.97 billion 

in deposits in 2016. The remaining geographic limitations are also based on 

maximums for the number of states (fixed at 3) and large metropolitan areas 

(fixed at 2) in which the organization maintains offices. Branch office data are 

based on the most recent data from the annual June 30 Summary of Deposits 

Survey that are available at the time of publication. 

Finally, the definition establishes an asset-size limit, also adjusted upward 

quarterly and below which the limits on banking activities and geographic 

scope are waived. The asset-size limit is $250 million in 1985 and reached 

$1.39 billion in 2016. This final step acknowledges the fact that most of those 

small banks that are not excluded as specialty banks meet the requirements for 

banking activities and geographic limits in any event. 

SUMMARY OF FDIC RESEARCH 

DEFINITION OF COMMUNITY 

BANKING ORGANIZATIONS 

Community banks are designated at the level of the banking organization. 

(All charters under designated holding companies are considered community 

banking charters.) 

Exclude: Any organization with: 

— No loans or no core deposits 

— Assets held in foreign branches ≥ 10% of total assets 

— More than 50% of assets in certain specialty banks, including: 

•	 credit card specialists

•	 consumer nonbank banks1 

•	 industrial loan companies

•	 trust companies

•	 bankers’ banks

Include: All remaining banking organizations with: 

— Total assets < indexed size threshold2 

— Total assets ≥ indexed size threshold, where: 

•	 Loan to assets > 33%

•	 Core deposits to assets > 50%

•	 More than 1 office but no more than the indexed maximum number of

offices.3 

•	 Number of large MSAs with offices ≤ 2

•	 Number of states with offices ≤ 3

•	 No single office with deposits > indexed maximum branch deposit size.4 

TABLES I-C THROUGH IV-C. A separate set of tables (Tables I-C through IV-C) provides comparative 

quarterly data related to the Deposit Insurance Fund (DIF), problem 

institutions, failed institutions, estimated FDIC-insured deposits, as well as 

assessment rate information. Depository institutions that are not insured 

1 Consumer nonbank banks are financial institutions with limited charters that can make commercial loans or take deposits, but not both. 

2 Asset size threshold indexed to equal $250 million in 1985 and $1.39 billion in 2016. 

3 Maximum number of offices indexed to equal 40 in 1985 and 87 in 2016. 

4 Maximum branch deposit size indexed to equal $1.25 billion in 1985 and $6.97 billion in 2016. 

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2023 VOLUME 17, NUMBER 1 

by the FDIC through the DIF are not included in the FDIC Quarterly Banking 

Profile. U.S. branches of institutions headquartered in foreign countries and 

non-deposit trust companies are not included unless otherwise indicated. 

Efforts are made to obtain financial reports for all active institutions. However, 

in some cases, final financial reports are not available for institutions that have 

closed or converted their charters. 

DATA SOURCES The financial information appearing in this publication is obtained primarily 

from the Federal Financial Institutions Examination Council (FFIEC) 

Consolidated Reports of Condition and Income (Call Reports) and the OTS Thrift 

Financial Reports (TFR) submitted by all FDIC-insured depository institutions. 

(TFR filers began filing Call Reports effective with the quarter ending March 

31, 2012.) This information is stored on and retrieved from the FDIC’s Research 

Information System (RIS) database. 

COMPUTATION METHODOLOGY Parent institutions are required to file consolidated reports, while their 

subsidiary financial institutions are still required to file separate reports. 

Data from subsidiary institution reports are included in the Quarterly Banking 

Profile tables, which can lead to double-counting. No adjustments are made for 

any double-counting of subsidiary data. Additionally, certain adjustments are 

made to the OTS Thrift Financial Reports to provide closer conformance with the 

reporting and accounting requirements of the FFIEC Call Reports. (TFR filers 

began filing Call Reports effective with the quarter ending March 31, 2012.) 

All condition and performance ratios represent weighted averages, which is 

the sum of the individual numerator values divided by the sum of individual 

denominator values. All asset and liability figures used in calculating 

performance ratios represent average amounts for the period (beginning-ofperiod amount plus end-of-period amount plus any interim periods, divided 

by the total number of periods). For “pooling-of-interest” mergers, the assets 

of the acquired institution(s) are included in average assets, since the yearto-date income includes the results of all merged institutions. No adjustments 

are made for “purchase accounting” mergers. Growth rates represent the 

percentage change over a 12-month period in totals for institutions in the 

base period to totals for institutions in the current period. For the community 

bank subgroup, growth rates will reflect changes over time in the number and 

identities of institutions designated as community banks, as well as changes 

in the assets and liabilities, and income and expenses of group members. 

Unless indicated otherwise, growth rates are not adjusted for mergers or 

other changes in the composition of the community bank subgroup. When 

community bank growth rates are adjusted for mergers, prior period balances 

used in the calculations represent totals for the current group of community 

bank reporters, plus prior period amounts for any institutions that were 

subsequently merged into current community banks. 

All data are collected and presented based on the location of each reporting 

institution’s main office. Reported data may include assets and liabilities 

located outside of the reporting institution’s home state. In addition, 

institutions may relocate across state lines or change their charters, resulting 

in an inter-regional or inter-industry migration; institutions can move their 

home offices between regions, savings institutions can convert to commercial 

banks, or commercial banks may convert to savings institutions. 

37 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

ACCOUNTING CHANGES Financial accounting pronouncements by the Financial Accounting Standards 

Board (FASB) can result in changes in an individual bank’s accounting policies 

and in the Call Reports they submit. Such accounting changes can affect the 

aggregate amounts presented in the QBP for the current period and the periodto-period comparability of such financial data. 

The current quarter’s Financial Institution Letter (FIL) and related Call Report 

supplemental instructions can provide additional explanation to the QBP reader 

beyond any material accounting changes discussed in the QBP analysis. 

https://www.fdic.gov/news/financial-institution-letters/2022/fil22054.html 

https://www.fdic.gov/resources/bankers/call-reports/index.html 

Further information on changes in financial statement presentation, income 

recognition and disclosure is available from the FASB. 

https://www.fasb.org/page/index?pageId=standards/index.html 

DEFINITIONS 

(IN ALPHABETICAL ORDER) 

All other assets – total cash, balances due from depository institutions, 

premises, fixed assets, direct investments in real estate, investment in 

unconsolidated subsidiaries, customers’ liability on acceptances outstanding, 

assets held in trading accounts, federal funds sold, securities purchased 

with agreements to resell, fair market value of derivatives, prepaid deposit 

insurance assessments, and other assets. 

All other liabilities – bank’s liability on acceptances, limited-life preferred 

stock, allowance for estimated off-balance-sheet credit losses, fair market 

value of derivatives, and other liabilities. 

Assessment base – effective April 1, 2011, the deposit insurance assessment 

base changed to “average consolidated total assets minus average tangible 

equity” with an additional adjustment to the assessment base for banker’s 

banks and custodial banks, as permitted under Dodd-Frank. Previously the 

assessment base was “assessable deposits” and consisted of deposits in banks’ 

domestic offices with certain adjustments. 

Assessment rate schedule – Initial base assessment rates for small institutions 

(except new institutions) are based on a combination of financial ratios and 

CAMELS component ratings. Initial rates for large institutions—generally 

those with at least $10 billion in assets—are also based on CAMELS component 

ratings and certain financial measures combined into two scorecards—one for 

most large institutions and another for the remaining very large institutions 

that are structurally and operationally complex or that pose unique challenges 

and risks in case of failure (highly complex institutions). The FDIC may take 

additional information into account to make a limited adjustment to a large 

institution’s scorecard results, which are used to determine a large institution’s 

initial base assessment rate. 

Initial rates for small institutions are subject to minimums and maximums 

based on an institution’s CAMELS composite rating. 

The current assessment rate schedule became effective January 1, 2023. Under 

the current schedule, initial base assessment rates range from 5 to 32 basis 

points. An institution’s total base assessment rate may differ from its initial 

rate due to three possible adjustments: (1) Unsecured Debt Adjustment: An 

institution’s rate may decrease by up to 5 basis points for unsecured debt. 

The unsecured debt adjustment cannot exceed the lesser of 5 basis points or 

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2023 VOLUME 17, NUMBER 1 

50 percent of an institution’s initial base assessment rate (IBAR). Thus, for 

example, an institution with an IBAR of 5 basis points would have a maximum 

unsecured debt adjustment of 2.5 basis points and could not have a total base 

assessment rate lower than 2.5 basis points. (2) Depository Institution Debt 

Adjustment: For institutions that hold long-term unsecured debt issued by 

another insured depository institution, a 50 basis point charge is applied to the 

amount of such debt held in excess of 3 percent of an institution’s Tier 1 capital. 

(3) Brokered Deposit Adjustment: Rates for large institutions that are not well 

capitalized or do not have a composite CAMELS rating of 1 or 2 may increase 

(not to exceed 10 basis points) if their brokered deposits exceed 10 percent of 

domestic deposits. 

The assessment rate schedule effective January 1, 2023, is shown in the 

following table: 

Total Base Assessment Rates* 

Established Small Banks Large and 

Highly Complex 

Institutions 

CAMELS Composite 

1 or 2 3 4 or 5 

Initial Base Assessment Rate 5 to 18 8 to 32 18 to 32 5 to 32 

Unsecured Debt Adjustment -5 to 0 -5 to 0 -5 to 0 -5 to 0 

Brokered Deposit Adjustment N/A N/A N/A 0 to 10 

Total Base Assessment Rate 2.5 to 18 4 to 32 13 to 32 2.5 to 42 

* All amounts for all categories are in basis points annually. Total base rates that are not the minimum or 

maximum rate will vary between these rates. Total base assessment rates do not include the depository 

institution debt adjustment. 

Each institution is assigned a risk-based rate for a quarterly assessment 

period near the end of the quarter following the assessment period. Payment 

is generally due on the 30th day of the last month of the quarter following the 

assessment period. Supervisory rating changes are effective for assessment 

purposes as of the examination transmittal date. 

Assets securitized and sold – total outstanding principal balance of assets 

securitized and sold with servicing retained or other seller-provided credit 

enhancements. 

Capital Purchase Program (CPP) – as announced in October 2008 under the 

TARP, the Treasury Department purchase of noncumulative perpetual preferred 

stock and related warrants that is treated as Tier 1 capital for regulatory capital 

purposes is included in “Total equity capital.” Such warrants to purchase 

common stock or noncumulative preferred stock issued by publicly-traded 

banks are reflected as well in “Surplus.” Warrants to purchase common stock or 

noncumulative preferred stock of not-publicly-traded bank stock are classified 

in a bank’s balance sheet as “Other liabilities.” 

Common equity Tier 1 capital ratio – ratio of common equity Tier 1 capital 

to risk-weighted assets. Common equity Tier 1 capital includes common 

stock instruments and related surplus, retained earnings, accumulated other 

comprehensive income (AOCI), and limited amounts of common equity Tier 1 

minority interest, minus applicable regulatory adjustments and deductions. 

Items that are fully deducted from common equity Tier 1 capital include 

goodwill, other intangible assets (excluding mortgage servicing assets) and 

certain deferred tax assets; items that are subject to limits in common equity 

Tier 1 capital include mortgage servicing assets, eligible deferred tax assets, 

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2023 VOLUME 17, NUMBER 1 

and certain significant investments. Beginning March 2020, this ratio does not 

include institutions that have a Community Bank Leverage Ratio election in 

effect at the report date. 

Construction and development loans – includes loans for all property types 

under construction, as well as loans for land acquisition and development. 

Core capital – common equity capital plus noncumulative perpetual preferred 

stock plus minority interest in consolidated subsidiaries, less goodwill and 

other ineligible intangible assets. The amount of eligible intangibles (including 

servicing rights) included in core capital is limited in accordance with 

supervisory capital regulations. 

Cost of funding earning assets – total interest expense paid on deposits and 

other borrowed money as a percentage of average earning assets. 

Credit enhancements – techniques whereby a company attempts to reduce 

the credit risk of its obligations. Credit enhancement may be provided by a 

third party (external credit enhancement) or by the originator (internal credit 

enhancement), and more than one type of enhancement may be associated with 

a given issuance. 

Deposit Insurance Fund (DIF) – the Bank (BIF) and Savings Association (SAIF) 

Insurance Funds were merged in 2006 by the Federal Deposit Insurance Reform 

Act to form the DIF. 

Derivatives notional amount – the notional, or contractual, amounts of 

derivatives represent the level of involvement in the types of derivatives 

transactions and are not a quantification of market risk or credit risk. Notional 

amounts represent the amounts used to calculate contractual cash flows to be 

exchanged. 

Derivatives credit equivalent amount – the fair value of the derivative plus an 

additional amount for potential future credit exposure based on the notional 

amount, the remaining maturity and type of the contract. 

Derivatives transaction types: 

Futures and forward contracts – contracts in which the buyer agrees to 

purchase and the seller agrees to sell, at a specified future date, a specific 

quantity of an underlying variable or index at a specified price or yield. These 

contracts exist for a variety of variables or indices, (traditional agricultural 

or physical commodities, as well as currencies and interest rates). Futures 

contracts are standardized and are traded on organized exchanges which 

set limits on counterparty credit exposure. Forward contracts do not have 

standardized terms and are traded over the counter. 

Option contracts – contracts in which the buyer acquires the right to buy 

from or sell to another party some specified amount of an underlying 

variable or index at a stated price (strike price) during a period or on a 

specified future date, in return for compensation (such as a fee or premium). 

The seller is obligated to purchase or sell the variable or index at the 

discretion of the buyer of the contract. 

Swaps – obligations between two parties to exchange a series of cash flows 

at periodic intervals (settlement dates), for a specified period. The cash 

flows of a swap are either fixed, or determined for each settlement date by 

multiplying the quantity (notional principal) of the underlying variable or 

index by specified reference rates or prices. Except for currency swaps, the 

notional principal is used to calculate each payment but is not exchanged. 

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2023 VOLUME 17, NUMBER 1 

Derivatives underlying risk exposure – the potential exposure characterized 

by the level of banks’ concentration in particular underlying instruments, in 

general. Exposure can result from market risk, credit risk, and operational risk, 

as well as, interest rate risk. 

Domestic deposits to total assets – total domestic office deposits as a percent 

of total assets on a consolidated basis. 

Earning assets – all loans and other investments that earn interest or dividend 

income. 

Efficiency ratio – Noninterest expense less amortization of intangible assets as 

a percent of net interest income plus noninterest income. This ratio measures 

the proportion of net operating revenues that are absorbed by overhead 

expenses, so that a lower value indicates greater efficiency. 

Estimated insured deposits – in general, insured deposits are total domestic 

deposits minus estimated uninsured deposits. Beginning March 31, 2008, for 

institutions that file Call Reports, insured deposits are total assessable deposits 

minus estimated uninsured deposits. Beginning September 30, 2009, insured 

deposits include deposits in accounts of $100,000 to $250,000 that are covered 

by a temporary increase in the FDIC’s standard maximum deposit insurance 

amount (SMDIA). The Dodd-Frank Wall Street Reform and Consumer Protection 

Act enacted on July 21, 2010, made permanent the standard maximum deposit 

insurance amount (SMDIA) of $250,000. Also, the Dodd-Frank Act amended 

the Federal Deposit Insurance Act to include noninterest-bearing transaction 

accounts as a new temporary deposit insurance account category. All funds held 

in noninterest-bearing transaction accounts were fully insured, without limit, 

from December 31, 2010, through December 31, 2012. 

Failed/assisted institutions – an institution fails when regulators take 

control of the institution, placing the assets and liabilities into a bridge bank, 

conservatorship, receivership, or another healthy institution. This action may 

require the FDIC to provide funds to cover losses. An institution is defined as 

“assisted” when the institution remains open and receives assistance in order 

to continue operating. 

Fair Value – the valuation of various assets and liabilities on the balance 

sheet—including trading assets and liabilities, available-for-sale securities, 

loans held for sale, assets and liabilities accounted for under the fair value 

option, and foreclosed assets—involves the use of fair values. During periods of 

market stress, the fair values of some financial instruments and nonfinancial 

assets may decline. 

FHLB advances – all borrowings by FDIC-insured institutions from the Federal 

Home Loan Bank System (FHLB), as reported by Call Report filers, and by TFR 

filers prior to March 31, 2012. 

Goodwill and other intangibles – intangible assets include servicing rights, 

purchased credit card relationships, and other identifiable intangible assets. 

Goodwill is the excess of the purchase price over the fair market value of the 

net assets acquired, less subsequent impairment adjustments. Other intangible 

assets are recorded at fair value, less subsequent quarterly amortization and 

impairment adjustments. 

Loans secured by real estate – includes home equity loans, junior liens secured 

by 1-4 family residential properties, and all other loans secured by real estate. 

Loans to individuals – includes outstanding credit card balances and other 

secured and unsecured consumer loans. 

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QUARTERLY 2023 VOLUME 17, NUMBER 1 

Long-term assets (5+ years) – loans and debt securities with remaining 

maturities or repricing intervals of over five years. 

Maximum credit exposure – the maximum contractual credit exposure 

remaining under recourse arrangements and other seller-provided credit 

enhancements provided by the reporting bank to securitizations. 

Mortgage-backed securities – certificates of participation in pools of 

residential mortgages and collateralized mortgage obligations issued or 

guaranteed by government-sponsored or private enterprises. Also, see 

“Securities,” below. 

Net charge-offs – total loans and leases charged off (removed from balance 

sheet because of uncollectability), less amounts recovered on loans and leases 

previously charged off. 

Net interest margin – the difference between interest and dividends earned 

on interest-bearing assets and interest paid to depositors and other creditors, 

expressed as a percentage of average earning assets. No adjustments are made 

for interest income that is tax exempt. 

Net loans to total assets – loans and lease financing receivables, net of 

unearned income, allowance and reserves, as a percent of total assets on a 

consolidated basis. 

Net operating income – income excluding discretionary transactions such as 

gains (or losses) on the sale of investment securities and extraordinary items. 

Income taxes subtracted from operating income have been adjusted to exclude 

the portion applicable to securities gains (or losses). 

Noncurrent assets – the sum of loans, leases, debt securities, and other assets 

that are 90 days or more past due, or in nonaccrual status. 

Noncurrent loans & leases – the sum of loans and leases 90 days or more past 

due, and loans and leases in nonaccrual status. 

Number of institutions reporting – the number of institutions that actually 

filed a financial report. 

New reporters – insured institutions filing quarterly financial reports for the 

first time. 

Other borrowed funds – federal funds purchased, securities sold with 

agreements to repurchase, demand notes issued to the U.S. Treasury, FHLB 

advances, other borrowed money, mortgage indebtedness, obligations under 

capitalized leases and trading liabilities, less revaluation losses on assets held 

in trading accounts. 

Other real estate owned – primarily foreclosed property. Direct and indirect 

investments in real estate ventures are excluded. The amount is reflected net 

of valuation allowances. For institutions that filed a Thrift Financial Report 

(TFR), the valuation allowance subtracted also includes allowances for other 

repossessed assets. Also, for TFR filers the components of other real estate 

owned are reported gross of valuation allowances. (TFR filers began filing Call 

Reports effective with the quarter ending March 31, 2012.) 

Percent of institutions with earnings gains – the percent of institutions that 

increased their net income (or decreased their losses) compared to the same 

period a year earlier. 

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QUARTERLY 2023 VOLUME 17, NUMBER 1 

“Problem” institutions – federal regulators assign a composite rating to each 

financial institution, based upon an evaluation of financial and operational 

criteria. The rating is based on a scale of 1 to 5 in ascending order of supervisory 

concern. “Problem” institutions are those institutions with financial, 

operational, or managerial weaknesses that threaten their continued financial 

viability. Depending upon the degree of risk and supervisory concern, they are 

rated either a “4” or “5.” The number and assets of “problem” institutions are 

based on FDIC composite ratings. Prior to March 31, 2008, for institutions whose 

primary federal regulator was the OTS, the OTS composite rating was used. 

Recourse – an arrangement in which a bank retains, in form or in substance, 

any credit risk directly or indirectly associated with an asset it has sold (in 

accordance with generally accepted accounting principles) that exceeds a pro 

rata share of the bank’s claim on the asset. If a bank has no claim on an asset it 

has sold, then the retention of any credit risk is recourse. 

Reserves for losses – the allowance for loan and lease losses on a consolidated 

basis. 

Restructured loans and leases – loan and lease financing receivables with 

terms restructured from the original contract. Excludes restructured loans and 

leases that are not in compliance with the modified terms. 

Retained earnings – net income less cash dividends on common and preferred 

stock for the reporting period. 

Return on assets – bank net income (including gains or losses on securities and 

extraordinary items) as a percentage of average total (consolidated) assets. The 

basic yardstick of bank profitability. 

Return on equity – bank net income (including gains or losses on securities and 

extraordinary items) as a percentage of average total equity capital. 

Risk-weighted assets – assets adjusted for risk-based capital definitions which 

include on-balance-sheet as well as off-balance-sheet items multiplied by 

risk-weights that range from zero to 200 percent. A conversion factor is used 

to assign a balance sheet equivalent amount for selected off-balance-sheet 

accounts. 

Securities – excludes securities held in trading accounts. Banks’ securities 

portfolios consist of securities designated as “held-to-maturity” (reported 

at amortized cost (book value)), securities designated as “available-forsale” (reported at fair (market) value), and equity securities with readily 

determinable fair values not held for trading. 

Securities gains (losses) – realized gains (losses) on held-to-maturity and 

available-for-sale securities, before adjustments for income taxes. Thrift 

Financial Report (TFR) filers also include gains (losses) on the sales of assets 

held for sale. (TFR filers began filing Call Reports effective with the quarter 

ending March 31, 2012.) 

Seller’s interest in institution’s own securitizations – the reporting bank’s 

ownership interest in loans and other assets that have been securitized, 

except an interest that is a form of recourse or other seller-provided credit 

enhancement. Seller’s interests differ from the securities issued to investors 

by the securitization structure. The principal amount of a seller’s interest is 

generally equal to the total principal amount of the pool of assets included 

in the securitization structure less the principal amount of those assets 

attributable to investors, i.e., in the form of securities issued to investors. 

43 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

Small Business Lending Fund – The Small Business Lending Fund (SBLF) was 

enacted into law in September 2010 as part of the Small Business Jobs Act of 

2010 to encourage lending to small businesses by providing capital to qualified 

community institutions with assets of less than $10 billion. The SBLF Program 

is administered by the U.S. Treasury Department (https://home.treasury.gov/ 

policy-issues/small-business-programs/small-business-lending-fund). 

Under the SBLF Program, the Treasury Department purchased noncumulative 

perpetual preferred stock from qualifying depository institutions and holding 

companies (other than Subchapter S and mutual institutions). When this stock 

has been issued by a depository institution, it is reported as “Perpetual preferred 

stock and related surplus.” For regulatory capital purposes, this noncumulative 

perpetual preferred stock qualifies as a component of Tier 1 capital. Qualifying 

Subchapter S corporations and mutual institutions issue unsecured subordinated 

debentures to the Treasury Department through the SBLF. Depository 

institutions that issued these debentures report them as “Subordinated notes 

and debentures.” For regulatory capital purposes, the debentures are eligible 

for inclusion in an institution’s Tier 2 capital in accordance with their primary 

federal regulator’s capital standards. To participate in the SBLF Program, an 

institution with outstanding securities issued to the Treasury Department under 

the Capital Purchase Program (CPP) was required to refinance or repay in full 

the CPP securities at the time of the SBLF funding. Any outstanding warrants 

that an institution issued to the Treasury Department under the CPP remain 

outstanding after the refinancing of the CPP stock through the SBLF Program 

unless the institution chooses to repurchase them. 

Subchapter S corporation – a Subchapter S corporation is treated as a passthrough entity, similar to a partnership, for federal income tax purposes. It is 

generally not subject to any federal income taxes at the corporate level. This 

can have the effect of reducing institutions’ reported taxes and increasing their 

after-tax earnings. 

Trust assets – market value, or other reasonably available value of fiduciary 

and related assets, to include marketable securities, and other financial and 

physical assets. Common physical assets held in fiduciary accounts include real 

estate, equipment, collectibles, and household goods. Such fiduciary assets are 

not included in the assets of the financial institution. 

Unearned income and contra accounts – unearned income for Call Report 

filers only. 

Unused loan commitments – includes credit card lines, home equity lines, 

commitments to make loans for construction, loans secured by commercial 

real estate, and unused commitments to originate or purchase loans. (Excluded 

are commitments after June 2003 for originated mortgage loans held for sale, 

which are accounted for as derivatives on the balance sheet.) 

Yield on earning assets – total interest, dividend, and fee income earned on 

loans and investments as a percentage of average earning assets. 

44 
45 

QUARTERLY 2023 VOLUME 17, NUMBER 1 

2022 SUMMARY OF DEPOSITS HIGHLIGHTS 

Responses to the Summary of Deposits (SOD) Survey for the year 

ending June 30, 2022, reflected moderation in deposit growth following 

extraordinary growth in the years ending June 2020 and June 2021. 

Total deposits of domestic offices of FDIC-insured institutions 

increased 5.2 percent during the most recent SOD reporting period.1 

In the aggregate, banks in all asset size groups, community and 

noncommunity banks, banks in metropolitan, micropolitan, and 

rural areas, and banks designated as Minority Depository Institutions 

(MDIs) all reported increases in deposits for the year ending June 30, 

2022. 

Deposit growth for this survey period follows near-record deposit 

growth in the preceding two years. The 2020 SOD Survey showed a 

21.7 percent increase in deposits, the largest one-year percentage 

increase since the 1940s.2 The 2021 SOD Survey showed deposit 

growth of 10.6 percent, nearly double the pre-pandemic (June 2010 to 

June 2019) average annual rate of 5.4 percent.3 

The moderation in the annual deposit growth rate came with a slight 

deceleration in bank office closures. Between June 2021 and June 2022, 

the number of bank offices fell 3.1 percent, continuing a 13-year trend 

of decline, but the rate of decline in 2022 was slightly lower than the 

record rate of decline of 3.8 percent reported in 2021. In aggregate, 

banks in all asset size groups, in both community and noncommunity 

banks, and in metropolitan, micropolitan, and rural areas reported net 

office closures. 

More than two years since the onset of the COVID-19 pandemic, 

migration effects of the pandemic on bank offices may be appearing 

in SOD Survey results. Changes in the number of offices between 2021 

and 2022 show some relationship to reported migration patterns in 

metropolitan statistical areas (MSAs) between 2020 and 2021. 

1 “Deposits” refers to total deposits in domestic offices of FDIC-insured institutions in the United States, U.S. territories, and possessions. Deposits in foreign offices of FDICinsured institutions and U.S. offices of foreign institutions are not included. 

2 Joseph R. Harris III, Caitlyn R. Kasper, Camille A. Keith, and Derek K. Thieme, “2020 Summary of Deposits Highlights,” FDIC Quarterly 15, no. 1 (2021): 51–63. 

3 The period June 2010 to June 2019 is used consistently throughout this article as the pre-pandemic period. It begins one year after the end of the Great Recession and ends in 

the final SOD Survey period before the onset of the pandemic in early 2020. 
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2023 VOLUME 17, NUMBER 1 

SUMMARY OF DEPOSITS OVERVIEW 

The Summary of Deposits (SOD) is a unique source of information about the number and physical locations of the 

tens of thousands of bank offices across the United States. The SOD data also include a dollar amount of deposits 

for each bank office. While SOD data are informative, they have some limitations due to the varying methods used 

by banks for attributing deposits to bank offices, as described below. 

The full reporting instructions for the SOD can be found at https://www.fdic.gov/resources/bankers/call-reports/ 

summary-of-deposits/summary-of-deposits-reporting-instructions.pdf. 

The relevant reporting instructions are summarized below. 

Institutions should assign deposits to each office in a manner consistent with their existing internal recordkeeping practices. The following are examples of procedures for assigning deposits to offices: 

•	 Deposits assigned to the office in closest proximity to the accountholder’s address,

•	 Deposits assigned to the office where the account is most active,

•	 Deposits assigned to the office where the account was opened, and

•	 Deposits assigned to offices for branch manager compensation or similar purposes.

Other methods that logically reflect the deposit gathering of the financial institution’s branch offices may also be 

used. It is recognized that certain classes of deposits and deposits of certain types of customers may be assigned 

to a single office for reasons of convenience or efficiency. However, deposit allocations that diverge from the 

financial institution’s internal record-keeping systems and misstate or distort the deposit gathering of an office 

should not be used. 

NATIONAL DEPOSIT GROWTH 

MODERATED FROM RECENT HIGHS 

Between June 2021 and June 2022, deposits increased by $895.1 billion 

(5.2 percent) to $18.1 trillion. Deposit growth continued to slow from 

the near-record growth rate reported in 2020, and was slightly below 

the average pre-pandemic rate of 5.4 percent (Chart 1). Deposit growth 

in 2020 and 2021 was due largely to conditions related to the pandemic, 

but by 2022, fiscal and monetary assistance related to the pandemic 

had waned. That development, and yields on deposits that lagged the 

general increase in interest rates that began in the first half of 2022, 

contributed to a slowdown in deposit growth to more normal levels. 

46 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

Chart 1 

Deposit Growth Continued to Moderate Aer a Near-Record Increase in 2020 

Total Deposits Total Deposits (Le ̃ Axis) ($ Trillions) Percent 

20 25 Percent Change in Deposits From the Previous Year (Right Axis) 

0 

2 

4 

6 

8 

10 

12 

14 

16 

18 

2007 2012 2017 2022 

0 

5 

10 

15 

20 

Source: FDIC Summary of Deposits, June 30, 2007, to June 30, 2022. 

LARGE BANKS REPORTED THE 

LARGEST DEPOSIT GROWTH AS 

BANKS MOVED INTO HIGHER 

ASSET SIZE GROUPS 

Table 1 

On a non-merger-adjusted basis, reflecting the changing structure of 

the banking industry, the smallest banks reported declining deposit 

balances compared with the largest banks. Banks with more than 

$250 billion in assets in June 2022 reported 73.0 percent growth in 

deposits between 2017 and 2022, while banks with less than $1 billion 

in assets reported a 2.7 percent decline in deposits during that period 

(Table 1). 

The non-merger-adjusted results reflect the effects of changes in the 

universe of banks that fall into each asset size group. For example, 

Table 1 compares the deposits of the nine banks with more than 

$250 billion in assets that existed as of June 30, 2017, to the 13 that 

existed as of June 30, 2022. Without adjusting for mergers and organic 

asset growth that can contribute to the change in the number of banks 

in each size group, it might appear that the smallest banks are losing 

the competition for deposits or losing their deposit base. However, 

some small bank deposits “became” large bank deposits because some 

small banks were acquired by large banks, two small banks merged 

Large Banks Reported the Largest From 2017 to 2022 on a Non-Merger-Adjusted Basis 

Bank Size 

 Deposit Growth

Year-Over-Year Deposit Growth, Not Adjusted for Mergers (Percent) 

2018 2019 2020 2021 2022 2017 to 2022 

Assets Greater Than $250 Billion 

Assets $10 Billion to $250 Billion 

Assets $1 Billion to $10 Billion 

Assets Less Than $1 Billion 

All Banks 

2.0 

10.5 

–2.2 

–4.1 

3.8 

3.9 

7.0 

1.4 

–2.8 

4.2 

41.2 

3.1 

18.9 

–0.7 

21.7 

9.6 

13.8 

10.1 

3.9 

10.6 

5.5 

6.0 

3.4 

1.2 

5.2 

73.0 

47.1 

34.2 

–2.7 

53.2 

Source: FDIC Summary of Deposits, June 30, 2017, to June 30, 2022. 

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2023 VOLUME 17, NUMBER 1 

into one large bank, or some small banks crossed the threshold into a 

larger asset size group. In these instances, some small banks’ deposits 

would contribute to the growth of larger banks and subtract from the 

growth of smaller banks.4 

To control for these effects, bank deposit data can be “mergeradjusted” to identify the changes in deposit growth that resulted solely 

from the organic growth of deposits, as opposed to changes resulting 

from the effects of mergers. In such an analysis, the specific banks in 

each asset size group are identified as of the most recent quarter. Then, 

the banks that those banks acquired over the period being analyzed 

are identified, and the deposits of the acquired banks are added to the 

deposits of the acquiring bank in the previous period.5 

On a merger-adjusted basis, deposit growth was more evenly 

distributed among asset size groups (Table 2). For example, between 

2017 and 2022, the smallest banks reported merger-adjusted deposit 

growth of 54.0 percent. This figure was higher than the deposit growth 

rate reported by the largest size group and was much larger than the 

non-merger-adjusted deposit decline of 2.7 percent. 

Table 2 

When Adjusting for Mergers and the Movement of Banks Between Asset Size Groups, 

Large Bank Deposit Growth Falls in Line With Other Groups 

Year-Over-Year Deposit Growth, Adjusted for Mergers (Percent) 

Bank Size 2018 2019 2020 2021 2022 

Assets Greater Than $250 Billion 1.7 3.1 24.5 9.6 4.6 

Assets $10 Billion to $250 Billion 6.0 4.9 19.6 11.4 4.8 

Assets $1 Billion to $10 Billion 5.9 6.3 18.4 12.7 8.8 

Assets Less Than $1 Billion 4.2 4.5 16.0 13.5 7.3 

2017 to 2022 

49.6 

55.3 

63.4 

54.0 

Source: FDIC Summary of Deposits, June 30, 2017, to June 30, 2022. 

DEPOSIT GROWTH REMAINED 

ELEVATED FOR COMMUNITY 

BANKS 

Community banks reported deposit growth of 4.8 percent and 

noncommunity banks reported deposit growth of 5.3 percent in the 

year ending June 30, 2022 (Table 3).6 These reported numbers are not 

adjusted for mergers and indicate that annual deposit growth rates are 

higher for noncommunity banks. 

4 For example, between 2021 and 2022, 17 banks with a total of $30.1 billion in deposits dropped into smaller asset size groups, while 79 banks with $191.4 billion in deposits 

crossed the threshold into larger asset size groups. 

5 In this article, merger-adjusting is conducted in one-year increments. For example, the merger-adjusted growth rate of the largest institutions between 2021 and 2022 

depicts the growth over that year of the combined deposits of the June 30, 2022, cohort of the largest institutions and the deposits of all the institutions they acquired between 

2021 and 2022. The same process is conducted for each increment of one year. The five-year growth rate is the compounded growth rate based on each growth rate between 

2018 and 2022. For an explanation of the reasons for and process of merger adjusting bank data, read Eric C. Breitenstein and Derek K. Thieme, “Merger Adjusting Bank Data: 

A Primer,” FDIC Quarterly 13, no. 1 (2019):31-49. 

6 Community banks are defined by criteria in the FDIC 2012 Community Banking Study. The definition encompasses small banks and larger banks that focus on traditional 

lending and deposit-taking activities. 

48 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

Table 3 

Deposit Growth Remained Elevated for Community Banks but Moderated for Noncommunity Banks in 2022 

Bank Designation 

2018 2019 2020 2021 2022 2017 to 2022 

Year-Over-Year Domestic Deposit Growth, Not Adjusted for Mergers (Percent) 

Noncommunity Banks 

Community Banks 

4.3 

0.9 

4.5 

2.2 

23.9 

8.9 

10.4 

12.1 

5.3 

4.8 

57.0 

32.0 

Year-Over-Year Domestic Deposit Growth, Adjusted for Mergers (Percent) 

Noncommunity Banks 

Community Banks 

3.7 

4.9 

3.9 

5.5 

22.6 

16.5 

10.3 

13.5 

4.8 

8.4 

52.6 

58.7 

Source: FDIC Summary of Deposits, June 30, 2017, to June 30, 2022. 

On a merger-adjusted basis, deposit growth was higher for community 

banks than noncommunity banks in 2022. Community bank yearover-year deposit growth was 8.4 percent and noncommunity bank 

year-over-year deposit growth was 4.8 percent. The merger-adjusted 

deposit growth of community banks reflects the change in deposits 

over the previous year of the banks identified as community banks as 

of June 30, 2022. Non-merger-adjusted growth, by contrast, compares 

the deposits of the 4,490 identified community banks as of June 30, 

2021, to those of the 4,333 identified community banks as of June 30, 

2022. 

METROPOLITAN DEPOSIT 

GROWTH LAGGED BEHIND 

THAT OF MICROPOLITAN AND 

RURAL AREAS 

Annual deposit growth rates in metropolitan, micropolitan, and rural 

areas slowed and converged to between 5 and 6 percent for the year 

ending June 30, 2022 (Table 4).7 Growth rates in micropolitan and rural 

areas remained slightly higher than growth rates in metropolitan 

areas. 

Offices in metropolitan areas continued to hold the majority of deposits 

($16.9 trillion or 93.4 percent of the total), followed by offices in 

micropolitan areas ($701.4 billion or 3.9 percent of the total) and rural 

areas ($497.5 billion or 2.7 percent of the total). 

Slower deposit growth in metropolitan areas than in other areas for 

the years ending June 30, 2021, and June 30, 2022, stands in contrast 

to the pattern of the previous four years. Still, between 2017 and 

2022, offices in metropolitan areas reported the highest deposit 

growth rate of the three county types, with a 54.1 percent increase 

in deposits. As a result, the share of deposits in metropolitan areas 

increased from 92.8 to 93.4 percent during the same period. Banks 

in micropolitan areas experienced the second-highest five-year 

growth at 44.1 percent but experienced a slight decline in total 

7 Counties are metropolitan, micropolitan, or rural depending on whether they are in areas designated by the U.S. Office of Management and Budget as metropolitan statistical 

areas or as micropolitan statistical areas. Metropolitan statistical areas have a core urban area with more than 50,000 inhabitants. Micropolitan statistical areas have urban 

clusters with 10,000 to 50,000 inhabitants. All other areas are referred to as rural areas. As of 2020, there were 1,174 metropolitan counties (37.8 percent), 655 micropolitan 

counties (21.1 percent), and 1,279 rural counties (41.2 percent) with offices of banks. 

49 
QUARTERLY 

 

2023 VOLUME 17, NUMBER 1 

market share from 4.1 percent to 3.9, largely due to the deposit surge 

in metropolitan areas. Banks in rural areas experienced the lowest 

deposit growth at 38.1 percent, with total market share declining from 

3.1 percent to 2.7 percent. 

Table 4 

Deposits in Micropolitan Counties Rose Most Among County Types in 2022 

County Type 

Year-Over-Year Change (Percent) 

2017 2018 2019 2020 2021 2022 2017 to 2022 

Metropolitan 

Micropolitan 

Rural 

5.2 

3.4 

3.1 

3.9 

2.3 

2.2 

4.3 

2.7 

2.9 

22.3 

15.3 

11.4 

10.5 

12.3 

11.5 

5.2 

5.9 

5.7 

54.1 

44.1 

38.1 

Source: FDIC Summary of Deposits, June 30, 2017, to June 30, 2022. 

Note: Data are not adjusted for mergers. 

AVERAGE DEPOSITS PER 

BANK AND OFFICE 

CONTINUED TO INCREASE 

Table 5 

The number of banks declined from 4,950 to 4,771 between June 2021 

and June 2022, and the number of offices declined from 81,781 to 79,214 

(Table 5). While the number of banks and offices decreased, offices per 

bank increased and continued to exceed the pre-pandemic average. 

An increase in deposits combined with a decrease in the number of 

banks and offices drove increases in both average deposits per bank 

and average deposits per office during the year ending June 2022. The 

balance of deposits per office increased 8.6 percent in 2022, slowing 

from the record increase of 23.7 percent reported in 2020, but higher 

than the pre-pandemic average growth rate of 6.9 percent. 

The Pace of Net Office Closures Slowed in 2022 After a Record Year for Closures in 2021 

Year 

Number 

of Banks 

Number 

of Offices 

Offices 

per Bank 

Deposits 

($ Billions) 

Deposits per 

Bank 

($ Millions) 

Deposits per 

Office 

($ Thousands) 

2017 

2018 

2019 

2020 

2021 

2022 

5,787 

5,541 

5,303 

5,066 

4,950 

4,771 

89,839 

88,065 

86,382 

84,972 

81,781 

79,214 

15.5 

15.9 

16.3 

16.8 

16.5 

16.6 

11,813 

12,262 

12,772 

15,546 

17,196 

18,091 

2,041 

2,213 

2,408 

3,069 

3,474 

3,792 

131,486 

139,242 

147,854 

182,958 

210,271 

228,385 

Source: FDIC Summary of Deposits, June 30, 2022. 

Note: Data are not adjusted for mergers. 

50 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

THE NUMBER OF OFFICES 

CONTINUED TO DECLINE, BUT 

THE RATE OF DECLINE SLOWED 

FROM A RECORD HIGH 

The number of offices declined 3.1 percent between June 2021 and 

June 2022, slightly lower than the historically high decline of 

3.8 percent reported in 2021 though still higher than the pre-pandemic 

average of 1.4 percent (Chart 2). Of the 4,771 banks that existed as 

of June 30, 2022, 556 (11.7 percent) reported net office openings, 367 

(7.7 percent) reported net office closures, and 3,848 (80.7 percent) 

reported no net change in office count. Only 11.8 percent of banks 

closed any offices. A larger share of noncommunity banks (41.1 percent) 

closed offices than did community banks (8.8 percent). 

Chart 2 

The Rate of Oice Closures Slowed A	er a Record Rate of Decline in 2021 

Number of Oices 

100,000 

80,000 

60,000 

40,000 

20,000 

0 

2007 

-20,000 

-40,000 

-60,000 

-80,000 

-100,000 

Source: FDIC Summary of Deposits, June 30, 2007, to June 30, 2022. 

Number of Oices (Le‘ Axis) 

Percent Change in Oices From Previous Year (Right Axis) Percent 

2012 2017 

5 

4 

3 

2 

1 

0 

2022 

-1 

-2 

-3 

-4 

-5 

SMALL BANKS REPORTED THE 

LARGEST REDUCTION IN 

OFFICES AS BANKS MOVED INTO 

HIGHER ASSET SIZE GROUPS 

On a non-merger-adjusted basis, the smallest banks reported the 

largest net decline in the offices they operated from 2017 to 2022. 

Banks with less than $1 billion in assets as of June 2022 reported a 

27.4 percent decline in offices between 2017 and 2022 (Table 6). 

Table 6 illustrates how non-merger-adjusted data can be volatile 

as banks move in and out of asset size groups due to asset growth, 

mergers, or acquisitions. For example, the number of offices operated 

by banks with more than $250 billion in assets grew 10.2 percent 

between June 2019 and June 2020, while the number of offices of the 

banks with between $10 billion and $250 billion in assets declined 

9.4 percent. This shift was heavily influenced by two banks in 

the smaller size group merging to form one bank with more than 

$250 billion in assets, shifting their offices into the larger size group. 

The numbers in Table 6 reflect not just openings and closures of 

offices, but shifts in the ownership of offices resulting from mergers 

and asset growth. 

51 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

Table 6 

The Smallest Banks Reported the Largest Decline in Offices From 2017 to 2022 on a Non-Merger-Adjusted Basis 

Bank Size 

Year-Over-Year Office Growth, Not Adjusted for Mergers (Percent) 

2018 2019 2020 2021 2022 2017 to 2022 

Assets Greater Than $250 Billion 

Assets $10 Billion to $250 Billion 

Assets $1 Billion to $10 Billion 

Assets Less Than $1 Billion 

All Banks 

–2.8 

6.4 

–7.5 

–5.6 

–2.0 

–3.9 

0.8 

0.0 

–4.6 

–1.9 

10.2 

–9.4 

5.0 

–10.6 

–1.6 

–6.9 

–1.4 

–0.2 

–6.1 

–3.8 

–3.0 

–3.7 

–1.8 

–4.0 

–3.1 

–7.2 

–7.8 

–4.8 

–27.4 

–11.8 

Source: FDIC Summary of Deposits, June 30, 2017, to June 30, 2022. 

On a merger-adjusted basis, the results are reversed, reflecting that 

small banks—after accounting for asset growth and mergers—have 

opened offices on net. The largest banks reported the largest decline 

in offices from 2017 to 2022 (Table 7). Conversely, the smallest banks 

reported year-over-year increases in offices in each of the five years 

of analysis. 

Table 7 

When Adjusting for Mergers and the Movement of Banks Between Size Groups, 

the Smallest Banks Opened Offices on Net From 2017 to 2022 

Year-Over-Year Office Growth, Adjusted for Mergers (Percent) 

Bank Size 2018 2019 2020 2021 2022 

Assets Greater Than $250 Billion –2.8 –3.9 –2.5 –6.9 –5.6 

Assets $10 Billion to $250 Billion –3.9 –3.7 –3.6 –4.6 –4.7 

Assets $1 Billion to $10 Billion –0.9 0.1 0.0 –2.0 –0.9 

Assets Less Than $1 Billion 0.8 1.4 1.1 0.4 0.6 

2017 to 2022 

–20.1 

–18.8 

–3.7 

4.3 

Source: FDIC Summary of Deposits, June 30, 2017, to June 30, 2022. 

OFFICE CLOSINGS WERE 

RELATIVELY LESS FREQUENT 

IN RURAL COUNTIES 

The number of offices across all county types, and between community 

and noncommunity banks, continued to decline through June 30, 

2022. Among the three county types, both the number and the rate 

of net office closures were highest in metropolitan areas, followed by 

micropolitan areas and then rural areas, through June 30, 2022. 

Metropolitan areas contain the vast majority of bank offices, roughly 

62,000 of 79,000 total offices, or 78.6 percent. Between 2017 and 2022, 

banks reduced offices in metropolitan areas by 8,981 (12.6 percent). 

Community banks reduced offices in metropolitan areas at a slightly 

higher rate (13.7 percent) than did noncommunity banks (12.2 percent) 

(Table 8). As these figures are not adjusted for mergers, this does 

not mean that community banks closed 13.7 percent of offices in 

metropolitan counties in that time, but rather that 13.7 percent of their 

52 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

offices closed or became offices of noncommunity banks through 

mergers or reclassification.8 

Micropolitan and rural county types fared slightly better than 

metropolitan areas in net office closings. Community banks serve 

micropolitan and rural areas with more offices than do noncommunity 

banks—72.2 percent of the office locations in rural areas and 

57.5 percent of the office locations in micropolitan areas are of 

community banks. 

Table 8 

The Number of Offices in All County Types Has Declined Over the Past Five Years 

Bank Designation 

Year-Over-Year Change in Offices, Not Adjusted for Mergers (Percent) 

2018 2019 2020 2021 2022 2017 to 2022 

Metropolitan 

Noncommunity Banks 

Community Banks 

All Banks 

–1.7 

–3.0

–2.1 

–1.7 

–3.1 

–2.1 

–1.1 

–3.4 

–1.7 

–4.9 

–1.7 

–4.0

–3.4 

–3.5 

–3.4 

–12.2 

–13.7 

–12.6 

Micropolitan 

Noncommunity Banks 

Community Banks 

All Banks 

–2.4 

–1.3 

–1.8 

–3.0

–0.6 

–1.7 

–0.9 

–2.0

–1.5 

–3.9 

–2.8 

–3.2 

–2.2 

–2.4 

–2.3 

–11.9 

–8.7 

–10.1 

Rural 

Noncommunity Banks 

Community Banks 

All Banks 

–3.3 

–0.6 

–1.3 

–0.8 

–1.1 

–1.0

0.4 

–2.0

–1.4 

–1.0

–2.3 

–2.0

–1.8 

–1.9 

–1.9 

–6.3 

–7.8 

–7.4 

All Noncommunity Banks 

Community Banks 

–1.9 

–2.2 

–1.7 

–2.2 

–1.0

–2.8 

–4.7 

–2.0

–3.2 

–2.9 

–11.9 

–11.6 

Source: FDIC Summary of Deposits, June 30, 2017, to June 30, 2022. 

On a merger-adjusted basis, community banks increased their offices 

by 1.7 percent between 2017 and 2022, while noncommunity banks 

reduced offices by 17.9 percent during that period (Table 9). In the year 

ending June 30, 2022, community banks closed a net 13 offices after 

adjusting for mergers, while noncommunity banks closed roughly 

2,500 offices, equating to an annual rate of decline of 4.7 percent across 

the three county types. Similar to merger adjustment of deposits, 

merger adjustment of offices tracks the net change in offices through 

time of a current cohort of banks and all the banks that the cohort 

acquired during the analysis period. The results of the merger-adjusted 

analysis just described indicate, in short, that community banks closed 

far fewer offices than noncommunity banks during the time period 

described. 

8 Such reclassifications are for FDIC research purposes and do not reflect any regulatory designation. 

53 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

Table 9 

Community Banks Closed Very Few Offices in 2022 

County Type 

Year-Over-Year Change in Offices, Adjusted for Mergers (Percent) 

2018 2019 2020 2021 2022 2017 to 2022 

Metropolitan Noncommunity Banks 

Community Banks 

3.0 

0.6 

–3.2 

1.4 

–2.5 

1.0 

–5.4 

0.0 

–4.6 

0.1 

–17.4 

3.1 

Micropolitan Noncommunity Banks 

Community Banks 

–4.4 

0.4 

–4.4 

0.5 

–3.3 

0.0 

–6.7 

–0.5 

–5.1 

–0.1 

–21.7 

0.1 

Rural Noncommunity Banks 

Community Banks 

–4.4 

–0.1 

–3.6 

0.0 

–4.1 

–0.2 

–5.9 

–0.3 

–5.8 

–0.3 

–21.7 

–0.9 

All Noncommunity Banks 

Community Banks 

–3.2 

0.4 

–3.3 

0.9 

–2.6 

0.5 

–5.5 

–0.2 

–4.7 

0.0 

–17.9 

1.7 

Source: FDIC Summary of Deposits, June 30, 2017, to June 30, 2022. 

ALMOST ALL COUNTIES IN THE 

UNITED STATES HAVE AT LEAST 

ONE OFFICE OF AN FDIC-INSURED 

INSTITUTION 

Office locations are geographically widespread, with offices in 

99 percent of the counties in the United States. Counties with no office 

presence are sparsely populated, with populations ranging from 90 to 

8,100 residents as of the 2020 census. Of all U.S. counties with an office 

presence, 5 percent have a single office. Approximately 76 percent of 

single-office counties are rural and 65 percent of single-office counties 

are served by a community bank. Of the 1,279 rural counties with 

an office presence, 92 percent are served by at least one community 

bank, underscoring the importance of community bank presence in 

rural areas. 

MDIS, SUPPORTED BY AN 

INCREASE IN DEPOSITS, 

CONTINUED TO SERVE AN 

IMPORTANT PURPOSE 

MDIs play an important role in supporting growth in low- and 

moderate-income communities by creating jobs, growing small 

businesses, and building wealth.9 MDIs are primarily in areas 

characterized by dense populations, with 88.6 percent of MDI offices 

in metropolitan areas. Like community banks, MDIs typically have 

smaller geographic footprints than noncommunity banks and rely on 

core deposits to fund loan growth. Most MDIs (120 of 144) also met the 

FDIC’s definition of a community bank as of June 30, 2022.10 

From 2021 to 2022, banks of every MDI designation reported an 

increase in deposits (Table 10). Not adjusted for mergers, deposits 

rose 4.7 percent ($12.7 billion), with the largest percentage increases 

in institutions identified as multiracial (up 64.7 percent, or 

$164.2 million) and Native American (up 22.6 percent, or $1.1 billion). 

On a merger-adjusted basis, MDI deposits increased 5.2 percent 

($13.9 billion), with the largest percentage increases in institutions 

9 FDIC, Minority Depository Institutions Program, Mission-Driven Bank Fund. 

10The FDIC’s Statement of Policy Regarding Minority Depository Institutions defines an MDI as a federally insured depository institution for which (1) 51 percent or more of the 

voting stock is owned by minority individuals, or (2) a majority of the board of directors is minority and the community that the institution serves is predominantly minority. 

For more information about MDIs read: FDIC, “2019 Minority Depository Institutions: Structure, Performance, and Social Impact.” 

54 
QUARTERLY 

 

2023 VOLUME 17, NUMBER 1 

identified as multiracial (up 64.7 percent or $164.2 million) and Black 

(up 17.6 percent or $942.1 million).11 

The number of offices operated by MDIs declined slightly during the 

most recent SOD reporting period. Collectively, as of June 30, 2022, the 

number of MDI offices declined by ten, to 1,522 offices. This 0.7 percent 

decline in offices operated by MDIs was far less than the 3.1 percent 

decline in offices operated by all banks. The net decline in offices 

resulted from changes in MDI office networks, including 55 office 

openings and 65 office closings during the year ending June 30, 

2022. After adjusting for the effects of mergers, MDI offices declined 

by seven. 

Table 10 

MDIs Reported an Increase in Deposits on a Merger–Adjusted and Non–Merger–Adjusted Basis 

Designation 

Number of 

Banks in 2022 

Year-Over-Year Change in Deposits (Percent) Net Office Openings/Closings (Number) 

Not Adjusted for 

Mergers 

Adjusted for 

Mergers 

Not Adjusted for 

Mergers 

Adjusted for 

Mergers 

Asian 

Black 

Hispanic 

Native American 

Multiracial 

All MDIs 

73 

19 

30 

20 

2 

144 

4.8 

15.4 

3.2 

22.6 

64.7 

4.7 

6.3 

17.6 

2.8 

14.5 

64.7 

5.2 

5 

0 

–30 

14 

1 

–10 

14 

1 

–31 

8 

1 

–7 

Sources: FDIC Summary of Deposits, June 30, 2021, to June 30, 2022, and FDIC MDI List. 

Note: MDI is Minority Depository Institution. 

THE COVID-19 PANDEMIC 

CHANGED MIGRATION PATTERNS 

The COVID-19 pandemic fostered a work from home environment that 

allowed people to move further away from their offices, which changed 

migration patterns. Before the pandemic, people were generally 

moving out of the Northeast and Midwest, and into the South and West. 

However, from 2020 to 2021, people moved out of the Northeast and 

into the South at a faster rate, and began to move out of the West. 

Out-migration from 2020 to 2021 was led mostly by expensive, densely 

populated states, while in-migration was led by less densely populated 

states mostly in the South and West (Chart 3). Seven of the ten states 

leading out-migration were among the states with the highest cost of 

living in 2022.12 The District of Columbia, California, North Dakota, 

and Massachusetts experienced in-migration in the ten years before 

the pandemic but were among the top ten states leading out-migration 

from 2020 to 2021. All top ten states by in-migration had experienced 

in-migration in the ten years before the pandemic but experienced it at 

a much faster rate from 2020 to 2021. 

11 Of the six institutions that were designated as MDIs in 2021 but not in 2022, four merged into institutions that were not designated as MDIs in 2022. Two institutions merged 

into institutions of the same MDI type. Additionally, six institutions were designated as MDIs in 2022 that were not previously designated as MDIs in 2021. 

12 Cost of living data come from Missouri Economic Research and Information Center. 

55 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

Chart 3 

Out-Migration in 2021 Was Led by Densely Populated States 

Source: U.S. Census Bureau. 

Note: The ten-year average is 2010 through 2020. 

-3.5 -2.5 -1.5 -0.5 0.5 1.5 2.5 

Idaho 

Montana 

Arizona 

South Carolina 

Delaware 

Florida 

Maine 

New Hampshire 

Utah 

Tennessee 

Maryland 

Alaska 

Massachusetts 

Louisiana 

North Dakota 

Hawaii 

California 

Illinois 

New York 

District of Columbia 

2021 Net Migration as a Share of Population (Percent) Ten-Year Average Net Migration as a Share of Population (Percent) 

Top Ten States by 

Out-Migration 

(2020-2021) 

Top Ten States by 

In-Migration 

(2020-2021) 

Drilling down to the MSA level shows similar patterns in 

out-migration, with mostly expensive, more densely populated 

cities also leading out-migration (Chart 4). The largest cities in 

California, New York, and Illinois drove out-migration, while MSAs 

in Florida as well as metropolitan areas in the Mountain West largely 

led in-migration. It is reasonable to assume that office trends would 

eventually follow population trends. 

Chart 4 

Source: U.S. Census Bureau. 

Note: The ten-year average is 2010 through 2020. 

Out-Migration in 2021 Was Led by More Expensive, Densely Populated Cities, 

While In-Migration Was Led by Southern Cities 

2021 Net Migration as a Share of Population (Percent) Ten-Year Average Net Migration as a Share of Population (Percent) 

Top Ten MSAs by 

Out-Migration 

(2020-2021) 

Top Ten MSAs by 

In-Migration 

(2020-2021) 

-6.0 -4.0 -2.0 0.0 2.0 4.0 6.0 

The Villages, FL 

Punta Gorda, FL 

St. George, UT 

Coeur d'Alene, ID 

Homosassa Springs, FL 

North Port-Sarasota-Bradenton, FL 

Cape Coral-Fort Myers, FL 

Lakeland-Winter Haven, FL 

Port St. Lucie, FL 

Sebring-Avon Park, FL 

Chicago-Naperville-Elgin, IL-IN-WI 

Grand Island, NE 

Urban Honolulu, HI 

Los Angeles-Long Beach-Anaheim, CA 

New York-Newark-Jersey City, NY-NJ-PA 

Midland, TX 

San Jose-Sunnyvale-Santa Clara, CA 

San Francisco-Oakland-Berkeley, CA 

Odessa, TX 

Lake Charles, LA 

56 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

THE NET CHANGE IN NUMBER OF 

OFFICES FOLLOWED MIGRATION 

PATTERNS 

Table 11 

The top ten MSAs by number of net office openings were concentrated 

in MSAs in less densely populated states, while net office closings 

were highest in the largest MSAs, similar to the trend of out-migration 

patterns (Table 11). Six of the cities in the top ten states or MSAs by 

out-migration were also in the top ten for net office closings. Larger 

MSAs historically have experienced higher net office closures, and 

migration due to the pandemic may have reinforced this trend.13 

While there was no overlap in the top ten MSAs by in-migration and 

top ten MSAs by net office openings, three of the top ten MSAs by 

net openings were within the top states by in-migration (NashvilleDavidson-Murfreesboro-Franklin, TN; Portland-South Portland, ME; 

Provo-Orem, UT). 

Office Closings Outpace Office Openings in Metropolitan Areas, and the Largest Cities Had the Most Net Office Closings 

Over the Past Year 

Top MSAs by Net Openings Net Openings Top MSAs by Net Closings Net Closings 

Minneapolis-St. Paul-Bloomington, MN-WI 7 New York-Newark-Jersey City, NY-NJ-PA* –218 

Jonesboro, AR 4 Washington-Arlington-Alexandria, DC-VA-MD-WV* –101 

Nashville-Davidson-Murfreesboro-Franklin, TN* 4 

Chicago-Naperville-Elgin, IL-IN-WI* –88 

Albuquerque, NM 2 

Auburn-Opelika, AL 2 Detroit-Warren-Dearborn, MI –79 

Bend, OR 2 Los Angeles-Long Beach-Anaheim, CA* –79 

Burlington-South Burlington, VT 2 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD –78 

Des Moines-West Des Moines, IA 2 Boston-Cambridge-Newton, MA-NH* –64 

Portland-South Portland, ME* 2 Miami-Fort Lauderdale-Pompano Beach, FL –62 

Provo-Orem, UT* 2 Atlanta-Sandy Springs-Alpharetta, GA –56 

Sioux Falls, SD 2 Baltimore-Columbia-Towson, MD* –44 

Source: FDIC Summary of Deposits, June 30, 2021, to June 30, 2022. 

Note: MSAs are metropolitan statistical areas. Asterisks denote MSAs that followed state-level or MSA-level migration trends. 

Patterns of net office openings and closings appear broadly consistent 

with migration patterns. In contrast, the data do not reveal any 

readily apparent correspondence between changes in the location of 

SOD-reported deposits and migration patterns. Possible explanations 

for the difference could include a lag effect in the location of offices 

that banks report deposits in, banks reporting deposits where the 

account was opened, or other factors such as the decreasing reliance by 

some customers on physical branches. Future analysis of deposit and 

office data relative to population levels and flows may be of interest. 

13 Joseph R. Harris III, Caitlyn R. Kasper, Christopher J. Raslavich, and Derek K. Thieme, “2019 Summary of Deposits Highlights,” FDIC Quarterly 14, no. 1 (2019): 31-43. 

57 
QUARTERLY 2023 VOLUME 17, NUMBER 1 

CONCLUSION The SOD Survey results for the year ending June 30, 2022, showed 

moderating deposit growth and net office closures from recent highs. 

As the structure of the banking industry has shifted over the past 

several years, so too has the composition of deposits and offices at 

FDIC-insured institutions. Larger institutions and noncommunity 

banks have reported strong deposit growth. The smallest institutions 

have declined in number, and so too have their deposits and offices. 

The comparatively high increase in deposits and comparatively low net 

office closures at larger banks resulted from mergers and movement 

of banks across asset size groups. A merger-adjusted analysis that 

focuses on identifying organic deposit growth and changes in the 

number of offices that are unrelated to mergers paints a different 

picture. Merger-adjusted deposit growth at the group of institutions 

designated the smallest as of June 30, 2022, and at community banks 

more broadly, exceeded that of their larger peers in the past year. 

Similarly, after accounting for the movement of banks in and out of 

size groups, and for mergers and acquisitions, smaller institutions 

reported much lower office reductions than larger institutions. Deposit 

growth in micropolitan and rural areas continued to outpace deposit 

growth in metropolitan areas in 2022, while net office closings were 

highest in the largest MSAs, similar to out-migration trends. Like 

their community bank peers, MDIs reported deposit growth in the 

year ending June 30, 2022, allowing them to continue to lend to the 

communities they serve. 

Authors: 

Angela Hinton 

Senior Financial Analyst 

Division of Insurance and Research 

Michael Hoffman 

Economic Analyst 

Division of Insurance and Research 

Caitlyn R. Kasper 

Financial Analyst 

Division of Insurance and Research 

Joycelyn Lu 

Economic Research Assistant 

Division of Insurance and Research 

58