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Quarterly
Quarterly Banking Profile:
Fourth Quarter 2021
Consumer Lending Through the
Pandemic and the Recovery
2021 Summary of Deposits
Highlights

2022
Volume 16, Number 1
Federal Deposit
Insurance Corporation
FDIC QUARTERLY A

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
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should be sent to publicinfo@fdic.gov. Change of address information also should be
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The FDIC Quarterly is available online by visiting the FDIC website at www.fdic.gov.
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individual feature articles, subscribe at www.fdic.gov/about/subscriptions/index.html.
Chairman (Acting)
Martin J. Gruenberg
Director, Division of Insurance and Research
Diane Ellis
Executive Editors
George French
Shayna M. Olesiuk
Managing Editors
Rosalind Bennett
Alan Deaton
Patrick Mitchell
Philip A. Shively
Editors
Clayton Boyce
Kathy Zeidler
Publication Manager
Lynne Montgomery
Media Inquiries
(202) 898-6993

FDIC QUARTERLY

2022
Volume 16 • Number 1

FDICQUARTERLY
Quarterly Banking Profile: Fourth Quarter 2021
FDIC-insured institutions reported full-year 2021 net income of $279.1 billion, up $132.0 billion
(89.7 percent) from 2020. The increase was primarily attributable to negative provision
expense, supported by continued economic growth and further improvement in credit
quality. Quarterly net income totaled $63.9 billion, an increase of $4.4 billion (7.4ipercent)
from fourth quarter 2020, primarily due to a $5.8 billion increase in net interest income and a
$4.0 billion decline in provision expense. A majority of banks (52.1 percent) reported annual
improvement in quarterly net income. However, net income declined $5.6 billion (8.1 percent)
from third quarter 2021, driven by a quarter-to-quarter increase in provision expense (up
$4.5 billion to negative $742.4 million). The banking industry reported an aggregate ROA
ratio of 1.09 percent, on par with the 1.10 percent ROA ratio reported in fourth quarter 2020
but down from 1.21 percent reported in third quarter 2021. See page 1.

Community Bank Performance

Community banks—which represent 91 percent of insured institutions—reported full-year
2021 net income of $32.7 billion, up $7.4 billion (29.3 percent) from 2020, driven by higher
net interest income and lower provision expense. Community bank quarterly net income
increased by $511.6 million (7.1 percent) from a year ago to $7.8 billion in fourth quarter
2021; however, net income declined $719.9 million (8.5 percent) from third quarter 2021
because of higher noninterest expense. The average community bank quarterly pretax ROA
ratio decreased 1 basis point from one year ago and 16 basis points from one quarter ago to
1.40 percent, as average asset growth outpaced growth in earnings. See page 15.

Insurance Fund Indicators

The Deposit Insurance Fund (DIF) balance totaled $123.1 billion at the end of fourth quarter
2021, an increase of $1.2 billion from the previous quarter. Assessment income of $2 billion
drove the fund balance increase. Interest earned on investments and other miscellaneous
income also added to the fund balance. Operating expenses, provisions for insurance losses,
and unrealized losses on available-for-sale securities partially offset the increase in the fund
balance. The DIF reserve ratio was 1.27 percent on December 31, 2021, unchanged from the
previous quarter and 2 basis points lower than the previous year. See page 23.

Featured Articles:
Consumer Lending Through the Pandemic and the Recovery
The COVID-19 pandemic pushed the economy into what was, by some measures, the worst
contraction on record, but consumer lending trends did not deteriorate as they usually do
during a recession. Government support for households raised aggregate personal income
in 2020 and helped support consumer loan performance. While credit card loan balances
contracted in 2020 and remained below the pre-recession level through third quarter 2021,
auto loans and other consumer loans expanded throughout 2020 and 2021. Performance
of all types of bank consumer loans improved thanks to government support, forbearance
programs, and tighter underwriting standards for new loans. While caution is warranted, and
changes in the pandemic and responses could weaken the outlook, the future of consumer
lending appears strong. See page 31.

2021 Summary of Deposits Highlights
The 2021 Summary of Deposits data reflect the effects of the COVID-19 pandemic, changing
spending patterns, and government stimulus programs on deposit levels and the number of
branch openings and closures. This article evaluates changes in community banks compared
with those of noncommunity banks. A special feature discusses branch openings and closings
of minority depository institutions. This article also evaluates the likely effect on branch levels
of increased availability and use of mobile and electronic banking applications. Responses
from the 2021 Summary of Deposits survey show that deposit growth rates for the industry
were higher than pre-pandemic growth rates. However, deposit growth rates have moderated
compared with the record highs in 2020. Over the past year, deposit growth rates have been
higher among community banks compared with those of noncommunity banks. In 2021, the
decline in the number of branches accelerated from a year ago, with branches of noncommunity
banks closing at a higher rate compared with that of community banks. See page 41.
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.

FDIC QUARTERLY

i

QUARTERLY BANKING PROFILE Fourth Quarter 2021
INSURED INSTITUTION PERFORMANCE
Negative Provision Expense Drove Full-Year 2021 Net Income Higher
Quarterly Net Income Continued to Increase Year Over Year
Net Interest Margin Remained Stable Quarter Over Quarter
Quarterly Loan Growth Occurred Across Most Major Loan Types
Asset Quality Continued to Improve
Full-Year Net Income
Increased in 2021

The banking industry reported full-year 2021 net income of $279.1 billion, up $132.0 billion
(89.7 percent) from 2020. The increase was primarily attributable to negative provision
expense, supported by continued economic growth and further improvement in credit
quality. Relative to 2020, provision expense declined by $163.3 billion (123.4 percent),
noninterest income increased by $20.3 billion (7.2 percent), and net interest income
remained relatively stable, growing $686.8 million (0.1 percent). The net interest margin
(NIM) declined by 28 basis points from 2020 to 2.54 percent as the growth rate in average
earning assets outpaced the growth rate in net interest income. The average return-onassets (ROA) ratio increased from 0.72 percent in 2020 to 1.23 percent in 2021.

Quarterly Net Income
Continued to Increase
Year Over Year

Quarterly net income totaled $63.9 billion, an increase of $4.4 billion (7.4 percent) from
fourth quarter 2020, primarily due to a $5.8 billion increase in net interest income and
a $4.0 billion decline in provision expense. A majority of banks (52.1 percent) reported
annual improvement in quarterly net income. However, net income declined $5.6 billion
(8.1 percent) from third quarter 2021, driven by a quarter-to-quarter increase in provision
expense (up $4.5 billion to negative $742.4 million). The banking industry reported an
aggregate ROA ratio of 1.09 percent, on par with the 1.10 percent ROA ratio reported in
fourth quarter 2020 but down from 1.21 percent reported in third quarter 2021.

Growth in Net Interest
Income Lifted Net
Operating Revenue

Growth in net interest income of $5.8 billion (4.4 percent) and in noninterest income of
$2.4 billion (3.4 percent) lifted net operating revenue to $201.7 billion (4 percent) from
fourth quarter 2020. Lower interest expense (down $3.8 billion, 31.7 percent) generated
most of the growth in net interest income, while higher trading revenue (up $1.2 billion,
17.8 percent) and investment banking fees (up $1.2 billion, 40 percent) drove the
improvement in noninterest income. Improvements in net interest income were widespread,
as nearly two-thirds of banks (65.6 percent) reported higher net interest income from one
year ago. NIM was unchanged from the prior quarter at 2.56 percent, 6 basis points higher
than the recent record low in the second quarter 2021 but down 12 basis points from the
previous year. The growth rate in average earning assets outpaced the growth rate in net
interest income. The yield on earning assets declined slightly to 2.71 percent (down 2 basis
points quarter over quarter and 21 basis points year over year). Average funding costs
declined 2 basis points from the previous quarter to a new record low of 0.15 percent.

Chart 1

Chart 2
Quarterly Net Income

Annual Net Income

All FDIC-Insured Institutions

All FDIC-Insured Institutions
$ Billions

300

Securities and Other Gains/Losses, Net
Net Operating Income

$ Billions

100

Securities and Other Gains/Losses, Net
Net Operating Income

80

250

60

200

40

150

20

100

0

50

-20

0

-40
-60

-50
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Source: FDIC.

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

Source: FDIC.
Note: Date labels are centered under the first quarter of each year. Data starts in fourth quarter 2007.

FDIC QUARTERLY

1

2022 • Volume 16 • Number 1

Noninterest Expense
Increased From the
Year-Ago Quarter

Noninterest expense rose $7.8 billion (6.2 percent) year over year, led by an increase in “all
other noninterest expense” and salary and benefit expense.1 Higher marketing and data
processing expenses drove the increase in the “all other noninterest expense” category.
Average assets per employee increased from a year ago to $11.5 million. While 69.5 percent
of banks reported higher noninterest expense compared with the year-ago quarter,
noninterest expense as a percentage of average assets declined 6 basis points from fourth
quarter 2020 to 2.28 percent.

Negative Provision
Expense Continued to
Boost Earnings

Provisions have been negative for four consecutive quarters. However, provisions rose
from negative $5.2 billion in third quarter 2021 to negative $742.4 million in fourth quarter
2021. Provision expense declined $4 billion (123 percent) from the year-ago quarter.2 Fiftytwo percent of all institutions reported lower provisions compared with the year-ago quarter.
The net number of banks that have adopted current expected credit loss (CECL) accounting
remained unchanged from third quarter 2021 at 308.3 CECL adopters reported aggregate
negative provisions of $1.3 billion in fourth quarter, $4.0 billion more than third quarter
2021 and $2.5 billion less than one year ago. Provision expense for banks that have not
adopted CECL accounting totaled $595.5 million (up from $156.5 million a quarter ago and
down from $2.0 billion one year ago).

Allowance for Loan and
Lease Losses to Total
Loans Remained Higher
Than the Pre-Pandemic
Level

The allowance for loan and lease losses (ALLL) as a percentage of total loans and leases
declined 60 basis points to 1.58 percent from the year-ago quarter due to negative
provisions. However, the ratio of ALLL to total loans remains higher than the pre-pandemic
level of 1.18 percent reported in fourth quarter 2019. Similarly, the ALLL as a percentage
of loans 90 days or more past due or in nonaccrual status (coverage ratio) declined
5 percentage points from the year-ago quarter to 178.8 percent but remained well above
the financial crisis average of 79.1 percent.4 All insured institutions except the largest
Quarterly Banking Profile (QBP) asset size group (greater than $250 billion) reported higher
aggregate coverage ratios compared with third quarter 2021.
1 All

other noninterest expenses include, but are not limited to, automated teller machine and interchange expenses,
legal fees, advertising and marketing expenses, consulting expenses, data processing expenses, and FDIC deposit
insurance assessments. Among banks that filled out schedule RI-E, higher marketing and data processing expenses
drove the increase in all other noninterest expense.
2 Provisions for credit losses include both losses for loans and securities for CECL adopters but only loan losses for
non-adopters.
3 Changes to the number of CECL accounting adopters may result from closures, mergers and acquisitions, or
examination or audit findings.
4 The financial crisis refers to the period between December 2007 and June 2009.

Chart 3

Chart 4
Change in Quarterly Loan-Loss Provisions

Quarterly Net Interest Margin

All FDIC-Insured Institutions

All FDIC-Insured Institutions
Percent

5.0

Assets > $250 Billion
Assets $10 Billion - $250 Billion
Assets $1 Billion - $10 Billion

Assets $100 Million - $1 Billion
Assets < $100 Million

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

Source: FDIC.
Note: Date labels are centered under the first quarter of each year. Data starts in fourth quarter 2007.

2 FDIC QUARTERLY

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

Source: FDIC.
Note: Date labels are centered under the first quarter of each year. Data starts in fourth quarter 2007.

QUARTERLY BANKING PROFILE

Total Assets Increased
From the Previous Quarter

Total assets increased $467.7 billion (2.0 percent) from third quarter 2021 to $23.7 trillion.
Total loan and lease balances increased $326.0 billion (3.0 percent), while securities
rose $292.7 billion (4.9 percent). Growth in U.S. Treasury securities (up $175.7 billion,
or 13.9 percent) continued to drive the quarterly increases in total securities. Loans and
securities with maturities greater than three years now make up 39.4 percent of total
assets, up from 36 percent in fourth quarter 2019.

Loan Growth Occurred
Across Most Major
Loan Types

Total loan and lease balances increased $326.0 billion (3.0 percent) from third quarter
2021. Several portfolios contributed meaningfully to the industry’s loan growth, including
consumer loans (up $84.9 billion, or 4.7 percent), commercial and industrial (C&I) loans (up
$70.8 billion, or 3.2 percent), and loans to nondepository institutions (up $59.0 billion, or
9.1 percent).
Annually, total loan and lease balances increased $383.2 billion (3.5 percent), as growth
in consumer loans (up $137.8 billion, or 7.9 percent), loans to nondepository institutions
(up $124.5 billion, or 21.5 percent), and nonfarm nonresidential commercial real estate
(CRE) loan balances (up $77.0 billion, or 4.9 percent) helped offset declines in C&I loans
(down $126.7 billion, or 5.2 percent). Paycheck Protection Program loan forgiveness and
repayment drove the annual decline in C&I loan balances.

Deposit Growth
Accelerated From the
Previous Quarter

Deposits grew 2.8 percent ($535.0 billion) in fourth quarter, faster than the 2.3 percent
growth ($436.0 billion) reported in third quarter 2021 but slower than the first quarter 2021
gain that was boosted by federal support programs. Deposits above $250,000 continued
to drive the quarterly increase (up $414.4 billion, or 4.0 percent). Interest-bearing deposit
growth (up $446.8 billion, or 3.6 percent) outpaced that of noninterest-bearing deposits
(up $108.5 billion, or 2.0 percent). More than three-fourths (76.2 percent) of banks reported
higher deposit balances compared with the previous quarter.

Noncurrent Loan Balances
Continued to Decline
Quarter Over Quarter

Loans and leases 90 days or more past due or in nonaccrual status (noncurrent loan
balances) declined (down $3.1 billion, or 3.0 percent) from third quarter 2021, supporting
a 5 basis point reduction in the noncurrent rate to 0.89 percent. Noncurrent nonfarm
nonresidential CRE loans declined the most among loan categories from the previous
quarter (down $2.3 billion, or 12.6 percent), followed by noncurrent C&I loans (down
$1 billion, or 6.0 percent). Fifty-nine percent of all banks reported a reduction in
noncurrent loans from third quarter 2021.

Chart 5

Chart 6

Quarterly Change in Loan Balances

Quarterly Change in Deposits

All FDIC-Insured Institutions

All FDIC-Insured Institutions

$ Billions

500

Quarterly Change (Left Axis)
12-Month Growth Rate (Right Axis)

Percent

12

400

$ Billions

1,400
1,200

300

8

200

1,000

100

4

800

0

0

600

-100

-4

-200
-300

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

-8

Source: FDIC.
Note: ASC Topics 810 and 860 resulted in the consolidation of large amounts of securitized loan
balances back onto banks’ balance sheets in the first quarter of 2010. Although the total amount
consolidated cannot be precisely quantified, the industry would have reported a decline in loan
balances for the quarter absent this change in accounting standards. Date labels are centered
under the first quarter of each year. Data starts in fourth quarter 2007.

400
200
0
-200
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Source: FDIC.
Note: Date labels are centered under the first quarter of each year. Data starts in fourth quarter 2007.

FDIC QUARTERLY 3

2022 • Volume 16 • Number 1

The Net Charge-Off Rate
Remained Low

Net charge-offs continued to decline (down $5.6 billion, or 49.5 percent) from the yearago quarter, reducing the net charge-off rate 21 basis points to 0.21 percent. A decline in
net charge-offs of C&I loans (down $2.2 billion, or 75 percent) and credit card loans (down
$1.8 billion, or 35.1 percent) drove three-fourths (72.3 percent) of the reduction in net
charge-offs from the year-ago quarter.

Some Capital Ratios
Declined as Growth in
Assets Outpaced Capital
Formation

Equity capital rose $17.9 billion (0.8 percent) from third quarter 2021; however, the leverage
capital ratio decreased 10 basis points to 8.74 percent as average asset growth outpaced
tier 1 capital formation. Retained earnings supported equity formation with an increase
of $7.7 billion (51.6 percent) from third quarter. Banks distributed 64.8 percent of fourth
quarter earnings as dividends, which were down $13.3 billion (24.3 percent) from third
quarter 2021. Thirty-five percent of banks reported higher dividends compared with the
year-ago quarter. The number of institutions with capital ratios that did not meet Prompt
Corrective Action requirements for the well-capitalized category decreased by one to seven
from third quarter 2021.5

No Banks Failed in Fourth
Quarter 2021

The number of FDIC-insured institutions declined from 4,914 in third quarter 2021 to 4,839.
During fourth quarter 2021, 72 institutions merged with other FDIC-insured institutions,
two banks merged with credit unions, one bank ceased operations, no new banks opened,
and no banks failed.6 The number of banks on the FDIC’s “Problem Bank List” declined by
two from third quarter to 44, the lowest level since QBP data collection began in 1984. Total
assets of problem banks increased to $170.1 billion.7
Author:
James K. Presley-Nelson
Senior Financial Analyst
Division of Insurance and Research
5 Prompt Corrective Action categories are assigned based on reported capital ratios only and do not include the effects of
regulatory downgrades.
6 The number of insured financial institutions excludes two banks that did not file Call Reports this quarter and one
bank that did not file a Call Report last quarter that has since ceased operations.
7 The

asset value of insured financial institutions on the problem bank list is the amount known on the last day of third
quarter 2021, the most current information available on December 31, 2021.

Chart 7

Chart 8

Noncurrent Loan Rate and Quarterly Net Charge-Off Rate
All FDIC-Insured Institutions
Percent

6

Number
Noncurrent Rate
Quarterly Net Charge-Off Rate

5
4
3
2
1
0

Number and Assets of Banks on the “Problem Bank List”
1,000

Assets of Problem Banks
Number of Problem Banks

Assets ($ Billions)

450

800

400

700

350

600

300

500

250

400

200

300

150

200

100

100

50

0

0
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

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

Source: FDIC.
Note: Date labels are centered under the first quarter of each year. Data starts in fourth quarter 2007.

4 FDIC QUARTERLY

500

900

Source: FDIC.
Note: The asset values of insured financial institutions on the problem bank list are what were on
record as of the last day of the quarter. Date labels are centered under the first quarter of each year.
Data starts in fourth quarter 2007.

QUARTERLY BANKING PROFILE
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

2021

2020

2019

2018

2017

2016

2015

1.23
12.21
8.74
0.44
0.25
8.46
2.54
96.92
4,839
4,231
608
3.02
44
$170
0

0.72
6.85
8.82
0.61
0.50
17.29
2.82
-38.78
5,002
4,375
627
4.68
56
$56
4

1.29
11.38
9.66
0.55
0.52
3.92
3.36
-3.14
5,177
4,518
659
3.73
51
$46
4

1.35
11.98
9.70
0.60
0.48
3.03
3.40
45.45
5,406
4,715
691
3.44
60
$48
0

0.97
8.60
9.63
0.73
0.50
3.79
3.25
-3.27
5,670
4,918
752
5.61
95
$14
8

1.04
9.27
9.48
0.86
0.47
5.09
3.13
4.43
5,913
5,112
801
4.48
123
$28
5

1.04
9.29
9.59
0.97
0.44
2.66
3.08
7.11
6,182
5,338
844
4.82
183
$47
8

* Excludes insured branches of foreign banks (IBAs).
** Assets shown are what were on record as of the last day of the quarter.

TABLE II-A. Aggregate Condition and Income Data, All FDIC-Insured Institutions
(dollar figures in millions)
Number of institutions reporting
Total employees (full-time equivalent)
CONDITION DATA
Total assets
Loans secured by real estate
		 1-4 Family residential mortgages
		 Nonfarm nonresidential
		 Construction and development
		 Home equity lines
Commercial & industrial loans
Loans to individuals
		Credit cards
Farm loans
Other loans & leases
Less: Unearned income
Total loans & leases
Less: Reserve for losses*
Net loans and leases
Securities**
Other real estate owned
Goodwill and other intangibles
All other assets

4th Quarter
2021

3rd Quarter
2021

4th Quarter
2020

%Change
20Q4-21Q4

4,839
2,069,049

4,914
2,056,568

5,002
2,065,603

-3.3
0.2

$23,719,316
5,258,361
2,259,000
1,645,582
401,094
265,084
2,314,011
1,881,972
871,083
74,103
1,720,559
2,133
11,246,874
178,212
11,068,662
6,245,881
2,961
404,363
5,997,450

$23,251,583
5,182,429
2,221,817
1,619,367
402,055
270,286
2,243,238
1,797,057
805,961
73,096
1,627,468
2,409
10,920,878
185,067
10,735,811
5,953,189
3,817
396,651
6,162,114

$21,868,854
5,117,942
2,210,914
1,568,587
386,080
300,311
2,440,690
1,744,177
822,028
71,781
1,492,232
3,196
10,863,626
236,621
10,627,005
5,112,405
4,626
386,755
5,738,062

8.5
2.7
2.2
4.9
3.9
-11.7
-5.2
7.9
6.0
3.2
15.3
-33.3
3.5
-24.7
4.2
22.2
-36.0
4.6
4.5

23,719,316
19,701,592
18,189,214
1,512,378
955,412
66,395
636,346
2,359,570
2,357,373

23,251,583
19,166,641
17,633,864
1,532,777
989,701
66,246
687,084
2,341,912
2,339,473

21,868,854
17,823,559
16,289,740
1,533,819
1,091,994
68,230
658,109
2,226,963
2,224,357

8.5
10.5
11.7
-1.4
-12.5
-2.7
-3.3
6.0
6.0

56,256
99,660
42,749
3,557,067
21,767,607
188,537
9,042,033
20,314,536
450,501
179,313,801

47,759
102,734
45,355
3,488,704
21,241,497
190,103
9,074,841
19,979,395
464,570
187,643,808

63,213
128,802
49,317
3,043,762
19,920,260
255,985
8,449,642
18,878,927
480,386
165,711,801

-11.0
-22.6
-13.3
16.9
9.3
-26.3
7.0
7.6
-6.2
8.2

Total liabilities and capital
Deposits
		 Domestic office deposits
		 Foreign office deposits
Other borrowed funds
Subordinated debt
All other liabilities
Total equity capital (includes minority interests)
		 Bank equity capital
Loans and leases 30-89 days past due
Noncurrent loans and leases
Restructured loans and leases
Mortgage-backed securities
Earning assets
FHLB Advances
Unused loan commitments
Trust assets
Assets securitized and sold
Notional amount of derivatives
INCOME DATA

Full Year
2021

Full Year
2020

%Change

4th Quarter
2021

4th Quarter
2020

%Change
20Q4-21Q4

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

$563,467
36,116
527,351
-31,007
300,506
510,131
3,009
72,455
47
279,333
279,131
27,354
155,963
123,168
276,854

$603,762
77,098
526,664
132,260
280,225
498,986
8,145
36,335
-101
147,352
147,116
54,113
84,066
63,050
140,589

-6.7
-53.2
0.1
-123.4
7.2
2.2
-63.1
99.4
NM
89.6
89.7
-49.5
85.5
95.4
96.9

$145,337
8,184
137,153
-742
72,652
133,555
573
13,674
15
63,907
63,872
5,716
41,387
22,485
63,426

$143,345
11,979
131,366
3,219
70,289
125,794
1,516
14,643
9
59,524
59,462
11,311
21,825
37,637
58,137

1.4
-31.7
4.4
-123.1
3.4
6.2
-62.2
-6.6
77.2
7.4
7.4
-49.5
89.6
-40.3
9.1

* 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

FDIC QUARTERLY 5

2022 • Volume 16 • Number 1
TABLE III-A. Full Year 2021, All FDIC-Insured Institutions
Asset Concentration Groups*
FULL YEAR
(The way it is...)
Number of institutions reporting
Commercial banks
Savings institutions
Total assets (in billions)
Commercial banks
Savings institutions
Total deposits (in billions)
Commercial banks
Savings institutions
Bank net income (in millions)
Commercial banks
Savings institutions
Performance Ratios (%)
Yield on earning assets
Cost of funding earning assets
Net interest margin
Noninterest income to assets
Noninterest expense to assets
Credit loss provision to assets**
Net operating income to assets
Pretax return on assets
Return on assets
Return on equity
Net charge-offs to loans and leases
Loan and lease loss provision to
net charge-offs
Efficiency ratio
% of unprofitable institutions
% of institutions with earnings gains
Condition Ratios (%)
Earning assets to total assets
Loss allowance to:
Loans and leases
Noncurrent loans and leases
Noncurrent assets plus
other real estate owned to assets
Equity capital ratio
Core capital (leverage) ratio
Common equity tier 1 capital ratio***
Tier 1 risk-based capital ratio***
Total risk-based capital ratio***
Net loans and leases to deposits
Net loans to total assets
Domestic deposits to total assets
Structural Changes
New reporters
Institutions absorbed by mergers
Failed institutions

All Insured
Institutions
4,839
4,231
608
$23,719.3
22,195.2
1,524.1
19,701.6
18,410.3
1,291.3
279,131
263,122
16,008

Credit
Card
Banks
12
11
1
$499.8
413.8
86.1
351.3
286.2
65.1
26,040
22,029
4,011

International
Banks
5
5
0
$5,827.2
5,827.2
0.0
4,618.9
4,618.9
0.0
62,871
62,871
0

Agricultural
Banks
1,121
1,110
11
$302.8
297.2
5.5
260.0
256.5
3.5
3,873
3,686
187

Commercial
Lenders
2,417
2,187
230
$7,372.2
6,927.9
444.2
6,226.4
5,877.7
348.7
87,234
82,027
5,207

Mortgage
Lenders
293
80
213
$776.3
122.9
653.4
694.5
106.2
588.3
6,203
1,529
4,674

Consumer
Lenders
33
21
12
$352.9
345.2
7.7
301.2
294.6
6.7
6,510
6,447
63

Other
Specialized
<$1 Billion
357
326
31
$83.4
77.7
5.7
70.7
66.4
4.2
1,317
574
743

All Other
<$1 Billion
506
412
94
$130.1
104.3
25.8
112.8
91.2
21.5
1,316
1,157
160

All Other
>$1 Billion
95
79
16
$8,374.6
8,078.9
295.7
7,065.9
6,812.6
253.3
83,766
82,803
963

2.71
0.17
2.54
1.32
2.24
-0.14
1.22
1.55
1.23
12.21
0.25

10.95
0.97
9.98
5.57
8.17
-0.05
5.31
6.93
5.32
40.72
2.00

1.98
0.11
1.87
1.57
2.06
-0.23
1.09
1.41
1.09
12.15
0.38

3.74
0.38
3.37
0.70
2.31
0.07
1.31
1.52
1.33
12.08
0.05

3.14
0.21
2.93
1.00
2.23
-0.08
1.23
1.57
1.24
11.39
0.11

1.85
0.14
1.71
0.84
1.41
-0.01
0.86
1.13
0.88
10.24
0.01

3.99
0.63
3.35
1.27
1.69
0.14
1.96
2.60
1.98
21.05
0.27

2.66
0.23
2.43
2.99
3.27
0.03
1.60
2.05
1.67
12.32
0.08

3.46
0.32
3.14
1.27
2.99
0.05
1.03
1.22
1.06
9.50
0.04

2.30
0.11
2.19
1.22
2.09
-0.16
1.04
1.29
1.05
10.60
0.20

-106.66
61.15
3.02
75.55

-2.75
53.91
0.00
100.00

-178.28
63.38
0.00
80.00

221.35
59.40
1.96
72.61

-118.70
59.67
2.07
83.04

-479.70
56.21
5.80
63.82

79.03
38.27
9.09
75.76

138.74
61.66
9.24
50.98

248.62
70.68
3.95
67.98

-164.83
64.62
1.05
85.26

91.77

94.71

89.70

93.86

92.29

97.64

93.71

94.19

93.96

91.82

1.58
178.82

6.97
763.75

1.72
209.81

1.46
200.81

1.27
149.62

0.67
102.48

1.98
289.43

1.61
207.31

1.35
211.75

1.32
131.60

0.44
9.94
8.74
14.04
14.14
15.46
56.18
46.67
76.69

0.78
12.56
13.72
15.30
15.44
17.17
113.24
79.59
69.06

0.28
9.20
7.99
15.68
15.75
17.13
39.27
31.13
56.81

0.47
10.78
10.37
14.43
14.43
15.53
66.79
57.34
85.86

0.55
10.71
9.26
12.55
12.63
13.85
71.98
60.79
84.29

0.18
8.17
8.63
24.73
24.73
25.16
29.18
26.11
89.31

0.48
9.00
9.70
15.35
15.38
16.35
80.08
68.34
85.35

0.27
12.97
12.64
27.89
27.89
28.82
33.01
27.96
84.71

0.39
10.79
10.67
17.59
17.60
18.69
59.80
51.83
86.65

0.46
9.75
8.34
13.76
13.90
15.32
51.90
43.79
82.18

9
164
0

0
0
0

0
0
0

0
37
0

2
118
0

0
1
0

0
0
0

7
1
0

0
3
0

0
4
0

PRIOR FULL YEARS
(The way it was...)
Number of institutions
	
	

2020
2018
2016

5,002
5,406
5,913

11
12
13

5
5
5

1,163
1,346
1,429

2,667
2,866
3,025

291
401
462

36
69
65

277
227
300

485
431
549

67
49
65

Total assets (in billions)
	
	

2020
2018
2016

$21,868.9
17,943.0
16,779.7

$492.6
651.7
519.0

$5,539.4
4,285.9
4,052.7

$287.7
286.8
284.9

$7,591.1
6,373.8
5,628.2

$684.0
346.0
331.5

$144.8
218.3
256.0

$51.5
36.7
51.1

$105.7
75.9
97.5

$6,972.0
5,667.9
5,558.8

Return on assets (%)
	
	

2020
2018
2016

0.72
1.35
1.04

1.92
2.96
2.27

0.70
1.17
0.93

1.29
1.32
1.21

0.74
1.26
0.97

0.92
1.13
0.98

1.59
1.42
0.96

2.59
2.94
2.85

1.10
1.12
0.92

0.53
1.40
1.06

Net charge-offs to loans & leases (%)
	
	

2020
2018
2016

0.50
0.48
0.47

3.73
3.87
3.34

0.69
0.50
0.55

0.15
0.15
0.15

0.25
0.18
0.22

0.05
0.02
0.07

0.52
0.76
0.56

0.19
1.41
0.22

0.07
0.17
0.17

0.43
0.37
0.41

Noncurrent assets plus
OREO to assets (%)
	
	

2020
2018
2016

0.61
0.60
0.86

0.92
1.26
1.14

0.38
0.39
0.61

0.69
0.83
0.77

0.76
0.63
0.87

0.30
1.28
1.97

0.26
0.49
0.70

0.34
0.43
0.63

0.56
0.73
0.94

0.66
0.62
0.96

Equity capital ratio (%)
	
	

2020
2018
2016

10.17
11.25
11.10

12.61
15.29
14.84

8.95
9.88
9.97

11.37
11.34
11.30

11.22
11.94
11.81

8.40
11.08
11.26

9.21
10.51
10.04

15.79
16.74
15.23

11.81
12.31
11.41

9.90
11.04
10.85

* See Table V-A (page 10) 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.

6 FDIC QUARTERLY

QUARTERLY BANKING PROFILE
TABLE III-A. Full Year 2021, All FDIC-Insured Institutions
Asset Size Distribution
FULL YEAR
(The way it is...)
Number of institutions reporting
Commercial banks
Savings institutions
Total assets (in billions)
Commercial banks
Savings institutions
Total deposits (in billions)
Commercial banks
Savings institutions
Bank net income (in millions)
Commercial banks
Savings institutions
Performance Ratios (%)
Yield on earning assets
Cost of funding earning assets
Net interest margin
Noninterest income to assets
Noninterest expense to assets
Credit loss provision to assets**
Net operating income to assets
Pretax return on assets
Return on assets
Return on equity
Net charge-offs to loans and leases
Loan and lease loss provision to
net charge-offs
Efficiency ratio
% of unprofitable institutions
% of institutions with earnings gains
Condition Ratios (%)
Earning assets to total assets
Loss allowance to:
Loans and leases
Noncurrent loans and leases
Noncurrent assets plus
other real estate owned to assets
Equity capital ratio
Core capital (leverage) ratio
Common equity tier 1 capital ratio***
Tier 1 risk-based capital ratio***
Total risk-based capital ratio***
Net loans and leases to deposits
Net loans to total assets
Domestic deposits to total assets
Structural Changes
New reporters
Institutions absorbed by mergers
Failed institutions

$100
Million to $1 Billion to
$1 Billion $10 Billion
3,049
813
2,702
675
347
138
$1,125.0
$2,221.7
988.0
1,866.0
136.9
355.8
966.9
1,878.2
854.1
1,584.8
112.8
293.4
13,899
29,677
11,855
25,845
2,044
3,833

Geographic Regions*

All Insured
Institutions
4,839
4,231
608
$23,719.3
22,195.2
1,524.1
19,701.6
18,410.3
1,291.3
279,131
263,122
16,008

Less Than
$100
Million
817
712
105
$49.9
44.0
5.9
42.0
37.5
4.6
505
426
79

$10 Billion
to $250
Billion
147
130
17
$7,076.0
6,471.1
605.0
5,929.0
5,441.1
487.8
97,243
89,728
7,515

Greater
Than $250
Billion New York
13
577
12
299
1
278
$13,246.6 $4,454.4
12,826.1
4,017.7
420.5
436.7
10,885.6
3,690.7
10,492.9
3,340.3
392.7
350.4
137,806
45,990
135,268
41,628
2,538
4,362

2.71
0.17
2.54
1.32
2.24
-0.14
1.22
1.55
1.23
12.21
0.25

3.65
0.38
3.27
1.88
3.64
0.06
1.03
1.20
1.04
7.53
0.07

3.70
0.35
3.35
1.36
2.95
0.08
1.27
1.52
1.29
11.76
0.06

3.62
0.28
3.34
1.26
2.61
0.04
1.38
1.77
1.41
12.90
0.12

3.33
0.24
3.08
1.30
2.40
-0.11
1.44
1.88
1.46
13.76
0.30

2.14
0.10
2.04
1.34
2.04
-0.20
1.07
1.34
1.07
11.26
0.27

-106.66
61.15
3.02
75.55

175.43
74.18
9.91
60.22

235.84
65.10
1.97
75.53

45.45
59.13
0.49
88.07

-57.49
57.08
0.68
91.16

91.77

92.49

94.09

93.75

1.58
178.82

1.48
149.30

1.38
227.28

0.44
9.94
8.74
14.04
14.14
15.46
56.18
46.67
76.69

0.59
13.48
13.31
23.56
23.61
24.70
59.84
50.35
84.13

9
164
0

Atlanta
551
502
49
$4,787.8
4,645.8
142.0
4,028.5
3,909.2
119.3
57,315
56,694
621

Chicago
1,040
897
143
$5,666.0
5,574.0
92.1
4,519.7
4,450.8
68.8
68,067
65,912
2,155

Kansas
City
1,237
1,198
39
$4,198.7
4,152.1
46.6
3,503.0
3,464.1
38.9
45,657
45,218
439

Dallas
1,075
1,006
69
$2,041.5
1,389.1
652.4
1,776.6
1,188.0
588.6
21,286
17,618
3,668

San
Francisco
359
329
30
$2,570.9
2,416.6
154.3
2,183.1
2,057.8
125.3
40,816
36,053
4,763

2.62
0.20
2.42
1.22
2.09
-0.03
1.06
1.38
1.08
10.34
0.26

2.75
0.15
2.60
1.13
2.19
-0.20
1.25
1.51
1.26
11.97
0.26

2.27
0.12
2.16
1.62
2.19
-0.21
1.25
1.59
1.25
13.10
0.19

2.71
0.18
2.53
1.17
2.27
-0.18
1.09
1.40
1.10
11.19
0.31

2.88
0.18
2.70
0.93
2.16
-0.04
1.11
1.36
1.12
11.27
0.10

3.63
0.28
3.35
1.76
2.75
-0.03
1.68
2.23
1.71
16.60
0.33

-178.54
63.82
0.00
84.62

-25.91
60.53
3.99
82.32

-147.30
62.20
5.44
78.04

-249.83
61.13
3.37
69.71

-111.94
64.85
1.54
72.92

-81.18
61.78
2.70
77.67

-15.07
55.60
2.79
80.50

93.07

90.55

91.33

91.18

90.82

91.31

94.37

94.42

1.34
210.81

1.74
182.35

1.55
166.02

1.59
176.48

1.56
191.27

1.44
179.10

1.70
166.57

1.26
85.38

1.88
328.50

0.42
10.83
10.64
15.81
15.83
16.94
67.72
58.21
85.94

0.44
10.86
10.23
14.33
14.36
15.42
73.10
61.79
84.45

0.56
10.31
9.24
13.62
13.85
15.03
67.86
56.86
81.86

0.37
9.50
8.05
14.14
14.18
15.63
45.86
37.69
71.81

0.45
10.32
9.04
14.83
14.44
15.75
57.97
48.03
77.86

0.40
10.21
8.26
13.28
13.37
14.46
54.35
45.73
81.56

0.37
9.52
8.33
14.34
14.40
15.55
52.84
42.15
70.63

0.49
9.81
8.81
13.52
13.60
15.59
55.26
46.10
68.68

0.69
9.64
8.88
15.03
15.16
16.20
50.75
44.17
86.99

0.35
10.14
9.76
14.48
14.74
15.88
69.36
58.90
83.81

9
33
0

0
100
0

0
27
0

0
4
0

0
0
0

0
16
0

3
17
0

3
28
0

0
56
0

1
35
0

2
12
0

PRIOR FULL YEARS
(The way it was…)
Number of institutions
	
	

2020
2018
2016

5,002
5,406
5,913

946
1,278
1,541

3,129
3,353
3,637

776
638
621

138
128
105

13
9
9

593
659
724

570
626
720

1,069
1,163
1,271

1,292
1,379
1,485

1,107
1,182
1,268

371
397
445

Total assets (in billions)
	
	

2020
2018
2016

$21,868.9
17,943.0
16,779.7

$57.2
75.9
91.5

$1,101.4
1,108.6
1,173.9

$2,069.8
1,734.8
1,761.8

$6,358.5
6,202.3
5,305.7

$12,282.0
8,821.4
8,446.9

$4,015.1
3,362.0
3,096.4

$4,485.3
3,677.0
3,507.3

$5,205.7
4,042.6
3,784.3

$4,134.1
3,670.8
3,633.9

$1,792.6
1,133.1
1,010.7

$2,236.1
2,057.6
1,747.0

Return on assets (%)
	
	

2020
2018
2016

0.72
1.35
1.04

0.84
1.01
0.89

1.21
1.23
1.08

1.11
1.33
1.01

0.71
1.46
1.07

0.61
1.29
1.03

0.62
1.22
0.87

0.59
1.44
1.02

0.87
1.26
1.00

0.49
1.25
1.09

0.98
1.40
1.02

1.03
1.74
1.40

Net charge-offs to loans & leases (%)
	
	

2020
2018
2016

0.50
0.48
0.47

0.13
0.18
0.21

0.12
0.16
0.14

0.22
0.20
0.25

0.66
0.70
0.64

0.51
0.43
0.47

0.48
0.59
0.52

0.54
0.55
0.54

0.41
0.23
0.27

0.53
0.50
0.53

0.31
0.24
0.31

0.70
0.73
0.58

Noncurrent assets plus
OREO to assets (%)
	
	

2020
2018
2016

0.61
0.60
0.86

0.74
0.97
1.10

0.60
0.73
0.96

0.65
0.64
0.84

0.83
0.62
0.78

0.50
0.57
0.90

0.60
0.58
0.70

0.55
0.65
1.03

0.52
0.54
0.79

0.70
0.68
1.00

1.08
0.76
1.06

0.48
0.44
0.53

Equity capital ratio (%)
	
	

2020
2018
2016

10.17
11.25
11.10

13.44
13.57
12.70

11.27
11.50
11.14

10.94
11.91
11.55

10.84
12.08
11.87

9.58
10.49
10.50

10.49
12.53
12.11

10.78
12.07
12.05

9.59
10.35
10.32

9.83
10.23
9.87

10.08
11.81
10.92

10.44
11.02
11.79

* See Table V-A (page 11) 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.

FDIC QUARTERLY 7

2022 • Volume 16 • Number 1
TABLE IV-A. Fourth Quarter 2021, All FDIC-Insured Institutions
Asset Concentration Groups*
FOURTH QUARTER
(The way it is...)
Number of institutions reporting
Commercial banks
Savings institutions
Total assets (in billions)
Commercial banks
Savings institutions
Total deposits (in billions)
Commercial banks
Savings institutions
Bank net income (in millions)
Commercial banks
Savings institutions
Performance Ratios (annualized, %)
Yield on earning assets
Cost of funding earning assets
Net interest margin
Noninterest income to assets
Noninterest expense to assets
Credit loss provision to assets**
Net operating income to assets
Pretax return on assets
Return on assets
Return on equity
Net charge-offs to loans and leases
Loan and lease loss provision to
net charge-offs
Efficiency ratio
% of unprofitable institutions
% of institutions with earnings gains
Structural Changes
New reporters
Institutions absorbed by mergers
Failed institutions

All Insured
Institutions
4,839
4,231
608
$23,719.3
22,195.2
1,524.1
19,701.6
18,410.3
1,291.3
63,872
60,077
3,795

Credit
Card
Banks
12
11
1
$499.8
413.8
86.1
351.3
286.2
65.1
5,399
4,636
763

International
Banks
5
5
0
$5,827.2
5,827.2
0.0
4,618.9
4,618.9
0.0
12,586
12,586
0

Agricultural
Banks
1,121
1,110
11
$302.8
297.2
5.5
260.0
256.5
3.5
794
750
43

Commercial
Lenders
2,417
2,187
230
$7,372.2
6,927.9
444.2
6,226.4
5,877.7
348.7
20,638
19,264
1,374

Mortgage
Lenders
293
80
213
$776.3
122.9
653.4
694.5
106.2
588.3
1,639
378
1,260

Consumer
Lenders
33
21
12
$352.9
345.2
7.7
301.2
294.6
6.7
1,626
1,612
14

Other
Specialized
<$1 Billion
357
326
31
$83.4
77.7
5.7
70.7
66.4
4.2
332
93
239

All Other
<$1 Billion
506
412
94
$130.1
104.3
25.8
112.8
91.2
21.5
275
239
36

All Other
>$1 Billion
95
79
16
$8,374.6
8,078.9
295.7
7,065.9
6,812.6
253.3
20,583
20,517
66

2.71
0.15
2.56
1.24
2.28
-0.01
1.08
1.32
1.09
10.90
0.21

11.65
0.92
10.74
6.17
9.21
1.46
4.40
5.69
4.42
34.02
1.58

2.01
0.10
1.91
1.41
2.14
-0.13
0.86
1.11
0.86
9.46
0.28

3.53
0.32
3.21
0.55
2.33
0.08
1.00
1.22
1.06
9.70
0.07

3.09
0.18
2.92
0.99
2.28
-0.02
1.13
1.42
1.14
10.52
0.09

1.82
0.12
1.70
0.74
1.35
-0.02
0.85
1.10
0.87
10.30
0.01

4.05
0.54
3.51
1.31
1.79
0.30
1.89
2.53
1.90
20.63
0.34

2.52
0.21
2.31
3.20
3.40
0.04
1.53
2.04
1.61
12.12
0.21

3.30
0.27
3.03
1.19
3.03
0.06
0.82
0.98
0.86
7.81
0.07

2.29
0.10
2.19
1.10
2.05
-0.03
0.99
1.10
1.00
10.15
0.17

-8.48
63.20
7.81
52.06

110.35
55.94
0.00
58.33

-123.23
68.16
0.00
60.00

183.19
64.82
11.60
47.55

-41.70
61.33
4.05
55.65

-593.16
56.18
9.90
56.31

137.42
38.87
9.09
63.64

65.71
62.95
18.77
43.14

147.50
74.99
9.88
47.23

-38.74
65.57
1.05
54.74

0
72
0

0
0
0

0
0
0

0
14
0

0
55
0

0
0
0

0
0
0

0
0
0

0
1
0

0
2
0

PRIOR FOURTH QUARTERS
(The way it was...)
Return on assets (%)
	
	

2020
2018
2016

1.10
1.33
1.03

4.49
3.36
2.20

1.05
1.03
1.03

1.15
1.22
1.08

1.15
1.26
0.91

0.90
1.12
1.00

2.34
1.32
0.80

2.68
3.96
3.22

1.05
1.11
0.83

0.83
1.42
1.03

Net charge-offs to loans & leases (%)
	
	

2020
2018
2016

0.42
0.50
0.52

2.78
3.85
3.76

0.54
0.49
0.61

0.18
0.21
0.25

0.24
0.21
0.27

0.06
0.06
0.06

0.45
0.80
0.60

0.17
0.25
0.33

0.09
0.22
0.23

0.37
0.39
0.42

* See Table V-A (page 10) 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.

8 FDIC QUARTERLY

QUARTERLY BANKING PROFILE
TABLE IV-A. Fourth Quarter 2021, All FDIC-Insured Institutions
Asset Size Distribution
FOURTH QUARTER
(The way it is...)
Number of institutions reporting
Commercial banks
Savings institutions
Total assets (in billions)
Commercial banks
Savings institutions
Total deposits (in billions)
Commercial banks
Savings institutions
Bank net income (in millions)
Commercial banks
Savings institutions
Performance Ratios (annualized, %)
Yield on earning assets
Cost of funding earning assets
Net interest margin
Noninterest income to assets
Noninterest expense to assets
Credit loss provision to assets**
Net operating income to assets
Pretax return on assets
Return on assets
Return on equity
Net charge-offs to loans and leases
Loan and lease loss provision to
net charge-offs
Efficiency ratio
% of unprofitable institutions
% of institutions with earnings gains
Structural Changes
New reporters
Institutions absorbed by mergers
Failed institutions

$100
Million to $1 Billion to
$1 Billion $10 Billion
3,049
813
2,702
675
347
138
$1,125.0
$2,221.7
988.0
1,866.0
136.9
355.8
966.9
1,878.2
854.1
1,584.8
112.8
293.4
3,133
7,212
2,590
6,137
543
1,074

Geographic Regions*

All Insured
Institutions
4,839
4,231
608
$23,719.3
22,195.2
1,524.1
19,701.6
18,410.3
1,291.3
63,872
60,077
3,795

Less Than
$100
Million
817
712
105
$49.9
44.0
5.9
42.0
37.5
4.6
82
70
12

$10 Billion
to $250
Billion
147
130
17
$7,076.0
6,471.1
605.0
5,929.0
5,441.1
487.8
22,220
20,769
1,450

Greater
Than $250
Billion New York
13
577
12
299
1
278
$13,246.6 $4,454.4
12,826.1
4,017.7
420.5
436.7
10,885.6
3,690.7
10,492.9
3,340.3
392.7
350.4
31,226
11,170
30,510
9,953
716
1,217

2.71
0.15
2.56
1.24
2.28
-0.01
1.08
1.32
1.09
10.90
0.21

3.45
0.33
3.12
1.79
3.82
0.08
0.66
0.78
0.66
4.81
0.09

3.57
0.30
3.27
1.28
2.99
0.08
1.09
1.32
1.13
10.30
0.08

3.56
0.24
3.33
1.21
2.63
0.08
1.29
1.65
1.32
12.08
0.14

3.29
0.21
3.08
1.30
2.45
0.09
1.27
1.64
1.28
12.26
0.23

2.16
0.09
2.07
1.20
2.06
-0.09
0.95
1.10
0.95
9.97
0.22

-8.48
63.20
7.81
52.06

169.12
81.37
24.48
45.41

183.37
68.45
5.48
51.39

82.41
60.42
1.11
59.90

63.70
58.21
1.36
57.14

0
72
0

0
12
0

0
39
0

0
19
0

Atlanta
551
502
49
$4,787.8
4,645.8
142.0
4,028.5
3,909.2
119.3
13,965
13,837
128

Chicago
1,040
897
143
$5,666.0
5,574.0
92.1
4,519.7
4,450.8
68.8
15,097
14,584
513

Kansas
City
1,237
1,198
39
$4,198.7
4,152.1
46.6
3,503.0
3,464.1
38.9
8,974
8,866
108

Dallas
1,075
1,006
69
$2,041.5
1,389.1
652.4
1,776.6
1,188.0
588.6
4,830
3,956
874

San
Francisco
359
329
30
$2,570.9
2,416.6
154.3
2,183.1
2,057.8
125.3
9,836
8,881
955

2.62
0.17
2.45
1.22
2.13
0.04
1.00
1.29
1.01
9.75
0.21

2.77
0.14
2.62
0.96
2.20
-0.02
1.19
1.18
1.19
11.51
0.21

2.26
0.11
2.15
1.48
2.16
-0.10
1.07
1.37
1.07
11.25
0.15

2.72
0.15
2.57
1.09
2.41
-0.08
0.85
1.10
0.85
8.72
0.26

2.79
0.15
2.64
0.84
2.14
0.02
0.96
1.17
0.97
9.88
0.10

3.63
0.23
3.39
1.83
2.84
0.19
1.54
2.03
1.56
15.31
0.28

-94.03
66.68
0.00
76.92

38.20
61.37
4.33
58.75

-14.38
64.90
8.71
52.63

-130.02
62.66
7.40
47.31

-64.49
69.96
10.19
44.79

30.14
63.98
7.63
59.26

110.90
55.98
5.57
57.66

0
2
0

0
0
0

0
7
0

0
7
0

0
12
0

0
28
0

0
13
0

0
5
0

PRIOR FOURTH QUARTERS
(The way it was…)
Return on assets (%)
	
	

2020
2018
2016

1.10
1.33
1.03

0.65
0.87
0.69

1.22
1.24
1.04

1.30
1.32
0.86

1.34
1.49
1.05

0.94
1.24
1.05

0.89
1.25
0.87

1.08
1.45
0.99

1.24
1.19
1.07

0.88
1.19
1.08

1.04
1.34
0.79

1.67
1.81
1.33

Net charge-offs to loans & leases (%)
	
	

2020
2018
2016

0.42
0.50
0.52

0.15
0.25
0.36

0.15
0.19
0.23

0.24
0.21
0.35

0.52
0.73
0.71

0.42
0.44
0.49

0.42
0.58
0.61

0.41
0.58
0.58

0.37
0.24
0.30

0.43
0.51
0.59

0.25
0.30
0.33

0.58
0.78
0.67

* See Table V-A (page 11) 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.

FDIC QUARTERLY 9

2022 • Volume 16 • Number 1
TABLE V-A. Loan Performance, All FDIC-Insured Institutions
Asset Concentration Groups*
All Insured
Institutions

Credit
Card
Banks

International
Banks

Agricultural
Banks

Commercial
Lenders

Mortgage
Lenders

Consumer
Lenders

Other
Specialized
<$1 Billion

All Other
<$1 Billion

All Other
>$1 Billion

Percent of Loans 30-89 Days Past Due
All loans secured by real estate
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
Home equity loans
Other 1-4 family residential
Commercial and industrial loans
Loans to individuals
Credit card loans
Other loans to individuals
All other loans and leases (including farm)
Total loans and leases

0.42
0.34
0.19
0.14
0.42
0.68
0.41
1.02
0.88
1.15
0.30
0.50

0.25
0.00
0.11
0.00
0.00
0.28
0.45
1.08
1.09
0.93
0.26
1.01

0.36
0.42
0.35
0.16
0.48
0.44
0.81
0.65
0.62
0.72
0.47
0.54

0.39
0.43
0.26
0.10
0.42
0.70
0.50
0.89
1.51
0.82
0.30
0.40

0.32
0.30
0.17
0.13
0.36
0.62
0.26
0.80
1.38
0.76
0.22
0.33

0.36
1.08
0.21
0.30
0.19
0.35
0.18
0.26
0.77
0.25
0.03
0.33

0.21
0.11
0.02
0.10
0.20
0.24
0.23
1.57
0.91
1.58
0.06
1.04

0.77
0.58
0.53
0.10
0.45
1.12
0.80
1.10
1.92
1.06
0.44
0.78

0.58
0.38
0.36
0.06
0.47
0.77
0.63
1.10
0.95
1.10
0.51
0.62

0.65
0.42
0.22
0.15
0.51
0.90
0.44
1.20
0.81
1.38
0.23
0.61

Percent of Loans Noncurrent**
All real estate loans
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
Home equity loans
Other 1-4 family residential
Commercial and industrial loans
Loans to individuals
Credit card loans
Other loans to individuals
All other loans and leases (including farm)
Total loans and leases

1.29
0.47
0.69
0.25
2.09
2.04
0.68
0.64
0.83
0.47
0.23
0.89

0.81
0.08
1.16
2.60
0.00
0.74
0.29
0.98
1.03
0.34
0.39
0.91

1.46
1.94
0.75
0.16
5.71
1.78
1.02
0.52
0.62
0.25
0.24
0.82

0.72
0.40
0.70
0.33
0.24
0.57
1.00
0.36
0.37
0.36
0.65
0.73

1.03
0.34
0.61
0.24
1.17
2.18
0.68
0.43
1.01
0.39
0.26
0.85

0.72
0.50
0.49
0.51
0.47
0.77
0.64
0.07
0.42
0.06
0.09
0.65

0.32
0.19
0.20
0.16
3.68
0.29
0.96
0.78
0.95
0.78
0.09
0.68

0.83
0.65
0.78
0.26
0.32
0.87
0.65
0.42
0.69
0.40
0.73
0.78

0.66
0.39
0.81
0.20
0.36
0.64
0.64
0.38
0.47
0.38
0.58
0.64

1.90
0.69
1.00
0.37
2.77
2.40
0.53
0.57
0.76
0.48
0.19
1.00

Percent of Loans Charged-Off (net, YTD)
All real estate loans
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
Home equity loans
Other 1-4 family residential
Commercial and industrial loans
Loans to individuals
Credit card loans
Other loans to individuals
All other loans and leases (including farm)
Total loans and leases

0.01
0.01
0.06
0.02
-0.17
-0.02
0.19
1.19
2.17
0.36
0.09
0.25

0.06
0.18
0.44
0.00
0.00
0.01
0.74
2.15
2.22
1.20
0.29
2.00

-0.06
0.03
0.04
0.00
-0.60
-0.06
0.28
1.60
2.09
0.30
0.06
0.38

0.02
0.06
0.04
0.06
0.04
0.02
0.14
0.25
0.83
0.18
0.03
0.05

0.02
0.01
0.07
0.02
-0.09
-0.02
0.19
0.57
3.05
0.41
0.11
0.11

0.00
0.02
0.07
0.12
-0.05
-0.01
-0.11
0.22
1.78
0.17
0.09
0.01

-0.01
-0.18
0.02
0.01
-0.20
-0.01
0.11
0.42
1.13
0.41
0.11
0.27

-0.03
-0.08
-0.11
0.00
-0.07
0.02
0.01
0.58
0.16
0.60
1.21
0.08

0.01
-0.05
0.04
0.00
0.01
0.00
0.11
0.21
0.83
0.20
0.07
0.04

0.00
0.01
0.03
0.01
-0.17
0.00
0.13
0.89
2.16
0.30
0.10
0.20

$5,258.4
401.1
1,645.6
512.6
265.1
2,259.0
2,314.0
1,882.0
871.1
1,010.9
1,794.7
11,249.0

$2.8
0.1
0.3
0.0
0.0
2.3
42.5
381.6
358.8
22.8
0.7
427.6

$570.7
17.0
62.0
85.8
24.3
326.5
341.6
385.2
282.4
102.9
548.2
1,845.8

$112.5
7.7
30.0
4.0
1.7
25.4
21.6
6.3
0.6
5.7
35.8
176.2

$2,809.4
293.4
1,181.4
331.3
141.5
811.6
1,070.5
283.0
17.2
265.8
378.1
4,541.0

$175.3
5.5
15.7
4.1
7.1
142.1
7.3
14.1
0.4
13.7
7.4
204.1

$51.9
0.4
6.5
0.8
0.7
43.6
35.0
150.2
1.4
148.8
8.9
246.1

$17.8
1.8
6.5
0.6
0.5
7.2
3.0
1.8
0.1
1.7
1.2
23.7

$53.9
4.2
12.4
1.8
1.7
29.9
5.9
5.4
0.1
5.3
3.2
68.4

$1,464.1
71.0
330.9
84.1
87.5
870.2
786.5
654.3
210.2
444.2
811.2
3,716.2

2,960.6
567.6
1,498.1
42.9
779.3
64.0

2.7
0.2
2.4
0.0
0.1
0.0

232.0
1.0
88.0
0.0
135.0
0.0

117.0
12.6
53.0
3.0
17.3
31.2

1,630.4
465.4
844.9
34.7
258.0
26.7

52.4
7.9
22.1
0.2
21.2
1.0

10.4
0.0
0.3
0.1
10.0
0.0

41.4
15.3
18.3
0.0
6.3
1.5

72.7
27.5
23.9
4.7
15.2
1.4

801.6
37.6
445.2
0.1
316.3
2.2

December 31, 2021

Loans Outstanding (in billions)
All real estate loans
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
Home equity loans
Other 1-4 family residential
Commercial and industrial loans
Loans to individuals
Credit card loans
Other loans to individuals
All other loans and leases (including farm)
Total loans and leases (plus unearned income)
Memo: Other Real Estate Owned (in millions)
All other real estate owned
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
1-4 family residential
Farmland

* 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.

10 FDIC QUARTERLY

QUARTERLY BANKING PROFILE
TABLE V-A. Loan Performance, All FDIC-Insured Institutions
Asset Size Distribution

Geographic Regions*

All Insured
Institutions

Less Than
$100
Million

$100
Million to
$1 Billion

$1 Billion
to
$10 Billion

$10 Billion
to $250
Billion

Percent of Loans 30-89 Days Past Due
All loans secured by real estate
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
Home equity loans
Other 1-4 family residential
Commercial and industrial loans
Loans to individuals
Credit card loans
Other loans to individuals
All other loans and leases (including farm)
Total loans and leases

0.42
0.34
0.19
0.14
0.42
0.68
0.41
1.02
0.88
1.15
0.30
0.50

0.80
0.54
0.62
0.42
0.30
1.13
0.69
1.19
1.50
1.19
0.38
0.76

0.37
0.28
0.22
0.16
0.30
0.62
0.44
1.14
1.71
1.10
0.30
0.41

0.24
0.31
0.14
0.09
0.25
0.42
0.34
1.38
2.63
1.11
0.24
0.32

0.38
0.28
0.17
0.14
0.40
0.65
0.24
0.94
1.01
0.87
0.20
0.44

0.58
0.55
0.26
0.18
0.50
0.78
0.54
1.06
0.71
1.39
0.35
0.61

Percent of Loans Noncurrent**
All real estate loans
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
Home equity loans
Other 1-4 family residential
Commercial and industrial loans
Loans to individuals
Credit card loans
Other loans to individuals
All other loans and leases (including farm)
Total loans and leases

1.29
0.47
0.69
0.25
2.09
2.04
0.68
0.64
0.83
0.47
0.23
0.89

0.97
0.45
1.06
0.53
0.23
0.98
1.32
0.64
0.87
0.64
0.94
0.99

0.60
0.43
0.58
0.27
0.54
0.64
0.71
0.42
1.36
0.35
0.63
0.61

0.60
0.37
0.54
0.28
0.45
0.87
0.83
0.70
2.22
0.37
0.27
0.63

1.39
0.29
0.70
0.22
1.14
2.57
0.62
0.69
0.97
0.43
0.28
0.95

Percent of Loans Charged-Off
(net, YTD)
All real estate loans
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
Home equity loans
Other 1-4 family residential
Commercial and industrial loans
Loans to individuals
Credit card loans
Other loans to individuals
All other loans and leases (including farm)
Total loans and leases

0.01
0.01
0.06
0.02
-0.17
-0.02
0.19
1.19
2.17
0.36
0.09
0.25

0.02
-0.01
0.03
-0.01
-0.01
0.01
0.15
0.29
3.55
0.26
0.11
0.07

0.01
0.00
0.01
0.01
0.00
0.00
0.14
0.51
3.20
0.31
0.14
0.06

0.03
0.00
0.06
0.01
-0.03
0.00
0.18
1.23
4.82
0.45
0.07
0.12

$5,258.4
401.1
1,645.6
512.6
265.1
2,259.0
2,314.0
1,882.0
871.1
1,010.9
1,794.7

$17.3
1.1
3.6
0.5
0.3
8.2
3.1
1.6
0.0
1.6
3.5

$509.5
50.8
193.8
28.8
14.4
171.2
88.3
26.1
1.9
24.1
40.5

11,249.0

25.5

2,960.6
567.6
1,498.1
42.9
779.3
64.0

39.4
7.5
12.3
6.2
11.7
1.7

December 31, 2021

Loans Outstanding (in billions)
All real estate loans
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
Home equity loans
Other 1-4 family residential
Commercial and industrial loans
Loans to individuals
Credit card loans
Other loans to individuals
All other loans and leases (including farm)
Total loans and leases
(plus unearned income)
Memo: Other Real Estate Owned
(in millions)
All other real estate owned
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
1-4 family residential
Farmland

Greater
Than $250
Billion New York

Atlanta

Chicago

Kansas
City

Dallas

San
Francisco

0.41
0.37
0.25
0.18
0.35
0.66
0.30
0.86
1.02
0.75
0.25
0.44

0.48
0.26
0.15
0.16
0.46
0.77
0.37
1.52
1.06
1.89
0.16
0.61

0.46
0.29
0.17
0.14
0.51
0.71
0.44
0.60
0.59
0.61
0.46
0.48

0.50
0.42
0.20
0.16
0.48
0.79
0.61
0.91
0.74
1.22
0.35
0.55

0.45
0.29
0.19
0.10
0.35
0.91
0.32
0.77
0.48
0.87
0.16
0.42

0.20
0.46
0.13
0.04
0.22
0.26
0.34
1.16
1.02
1.27
0.19
0.45

1.77
1.01
0.93
0.26
3.56
2.20
0.69
0.59
0.67
0.52
0.19
0.94

1.23
0.91
1.01
0.34
1.86
1.75
0.73
0.69
1.03
0.46
0.13
0.90

1.29
0.29
0.59
0.62
1.58
1.99
0.52
0.77
0.97
0.62
0.14
0.82

1.28
0.87
0.70
0.18
2.57
1.73
0.65
0.33
0.55
0.16
0.27
0.80

1.61
0.23
0.76
0.11
4.12
2.43
0.80
0.64
0.73
0.47
0.29
1.02

1.97
0.19
0.45
0.16
0.83
5.21
0.71
0.49
0.83
0.39
0.18
1.48

0.47
0.27
0.51
0.09
0.65
0.54
0.78
0.75
0.89
0.63
0.34
0.57

0.03
0.01
0.09
0.03
-0.09
-0.01
0.20
1.22
2.14
0.40
0.09
0.30

-0.03
0.04
0.02
0.01
-0.28
-0.03
0.19
1.19
2.12
0.33
0.09
0.27

0.03
0.10
0.08
0.03
-0.11
-0.01
0.20
1.26
2.46
0.47
0.10
0.26

0.00
-0.05
0.05
0.04
-0.20
-0.01
0.17
1.07
2.07
0.26
0.12
0.26

-0.02
0.02
0.06
0.00
-0.23
-0.04
0.21
0.94
1.93
0.17
0.07
0.19

0.00
0.00
0.04
0.02
-0.17
-0.01
0.21
1.71
2.32
0.65
0.08
0.31

0.01
0.00
0.04
0.01
-0.17
-0.01
0.18
0.65
1.53
0.37
0.08
0.10

0.01
-0.04
0.06
0.00
-0.07
-0.01
0.17
1.21
2.20
0.42
0.12
0.33

$1,002.7
104.1
438.9
107.8
33.5
284.9
241.5
79.6
14.1
65.4
68.4

$1,941.7
165.2
658.3
229.6
99.9
772.7
838.7
816.2
388.8
427.4
499.0

$1,787.2
80.0
350.9
146.0
116.9
1,021.9
1,142.4
958.5
466.2
492.3
1,183.3

$1,122.6
78.2
381.3
176.5
64.6
416.8
420.3
340.3
135.7
204.6
291.9

$891.0
61.4
303.3
41.4
58.5
414.0
536.2
439.2
197.8
241.4
358.2

$1,051.2
64.6
249.2
128.7
64.2
519.7
528.4
375.8
166.1
209.6
467.8

$858.2
56.6
214.1
49.8
35.2
401.5
392.7
295.2
191.2
104.0
423.2

$595.7
91.4
246.2
26.6
17.8
193.0
174.5
69.5
16.3
53.2
73.9

$739.6
48.9
251.5
89.7
24.9
314.0
261.9
362.1
164.0
198.2
179.8

664.3

1,392.2

4,095.6

5,071.3

2,175.1

2,224.5

2,423.2

1,969.2

913.5

1,543.4

617.0
246.7
217.2
24.5
92.3
36.2

782.8
184.2
473.0
5.6
94.7
24.6

679.6
108.4
301.8
6.0
261.9
1.5

841.8
20.7
493.7
0.6
318.7
0.0

443.1
62.8
147.5
6.4
226.1
0.4

763.2
140.5
462.3
9.4
145.4
5.6

613.1
60.5
318.9
1.7
220.5
10.8

444.3
109.1
217.1
5.5
84.9
19.7

557.4
163.5
298.0
13.2
65.0
17.7

139.5
31.2
54.3
6.8
37.4
9.9

* 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.

FDIC QUARTERLY 11

2022 • Volume 16 • Number 1
TABLE VI-A. Derivatives, All FDIC-Insured Call Report Filers
Asset Size Distribution
(dollar figures in millions;
notional amounts unless otherwise indicated)
ALL DERIVATIVE HOLDERS
Number of institutions reporting derivatives
Total assets of institutions reporting derivatives
Total deposits of institutions reporting derivatives
Total derivatives

4th
Quarter
2021

3rd
Quarter
2021

2nd
Quarter
2021

1st
Quarter
2021

4th
Quarter
2020

%
Change
20Q42  1Q4

1,307
$21,889,826
18,158,080
179,313,801

1,358
$21,479,239
17,677,856
187,643,808

1,373
$21,030,025
17,273,942
186,058,289

1,388
$20,815,146
17,013,885
191,684,273

1,388
$20,135,034
16,393,952
165,711,801

-5.8
8.7
10.8
8.2

22
$1,514
1,226
210

617
$302,206
258,288
15,904

521
$1,601,414
1,357,651
188,152

134
$6,738,069
5,655,310
4,260,642

13
$13,246,623
10,885,604
174,848,892

Derivative Contracts by Underlying Risk Exposure
Interest rate
Foreign exchange*
Equity
Commodity & other (excluding credit derivatives)
Credit
Total

126,263,377
43,668,294
4,256,115
1,584,207
3,540,460
179,312,453

131,804,111
45,631,510
4,649,081
1,703,480
3,854,151
187,642,333

133,334,810
43,728,636
4,254,960
1,631,946
3,106,414
186,056,766

137,477,490
45,257,498
4,004,712
1,582,254
3,361,030
191,682,984

116,058,438
41,448,704
3,774,715
1,394,504
3,034,285
165,710,646

8.8
5.4
12.8
13.6
16.7
8.2

210
0
0
0
0
210

15,081
0
23
0
16
15,120

181,230
2,770
48
75
3,466
187,589

2,476,581
1,560,231
76,981
98,041
48,807
4,260,642

123,590,274
42,105,293
4,179,063
1,486,092
3,488,171
174,848,892

Derivative Contracts by Transaction Type
Swaps
Futures & forwards
Purchased options
Written options
Total

109,290,037
31,179,822
16,490,297
16,963,118
173,923,274

111,081,251
35,311,292
17,182,098
17,050,718
180,625,360

106,971,001
37,583,984
17,945,500
17,894,265
180,394,750

107,719,719
40,934,399
18,603,556
18,371,380
185,629,054

96,423,495
32,350,455
16,098,917
15,891,741
160,764,608

13.3
-3.6
2.4
6.7
8.2

0
0
0
0
0

2,010
3,021
363
2,390
7,784

120,688
16,177
15,105
12,075
164,044

2,318,480
1,573,070
142,133
133,867
4,167,550

106,848,859
29,587,554
16,332,697
16,814,786
169,583,895

55,248
-4,023
-8,794
6,479
24,091
-28,518

63,671
11,247
-10,450
15,125
22,626
-25,233

63,856
10,331
-13,321
6,125
16,825
-21,074

69,365
13,849
-6,866
3,967
16,748
-18,373

70,648
-11,466
-7,165
-452
14,331
-18,166

-21.8
NM
NM
NM
68.1
NM

0
0
0
0
0
0

24
0
4
0
0
0

592
5
2
1
13
-10

5,797
905
-1,104
230
-71
-313

48,835
-4,932
-7,696
6,249
24,149
-28,195

68,042,217
41,249,959
20,474,533
30,953,966
4,863,871
2,551,933
3,880,771
1,055,173
144,720

73,184,579
41,533,803
22,926,827
31,560,013
4,723,452
2,576,222
4,079,641
1,135,840
159,126

71,258,971
45,947,286
22,279,948
30,839,509
4,557,853
2,502,654
3,806,830
957,152
153,371

76,501,727
44,407,789
22,231,036
32,130,016
4,336,231
2,405,347
3,504,313
870,551
124,452

62,457,197
39,201,919
20,844,428
29,434,113
4,404,492
2,402,103
3,287,136
770,821
138,573

8.9
5.2
-1.8
5.2
10.4
6.2
18.1
36.9
4.4

28
5
0
0
0
0
0
0
0

3,402
1,683
2,998
0
0
0
7
16
0

20,249
46,216
80,392
2,048
262
11
3
21
5

1,103,366
770,730
465,503
1,437,913
92,216
11,860
37,463
35,135
2,065

66,915,172
40,431,324
19,925,640
29,514,005
4,771,393
2,540,062
3,843,298
1,020,001
142,651

2,195,295
2,569,198
236,524

2,417,770
2,478,994
519,222

2,234,059
2,137,329
215,849

2,149,899
2,050,971
435,795

1,820,961
2,023,406
215,486

20.6
27.0
9.8

0
0
0

3
18
75

134
861
1,799

37,339
40,863
7,157

2,157,819
2,527,457
227,493

19.4
34.1

24.9
37.3

24.8
34.9

25.6
34.0

30.2
31.0

0.0
0.0

0.3
0.2

1.6
1.0

3.7
4.9

31.6
56.7

53.4

62.3

59.7

59.6

61.2

0.0

0.5

2.7

8.7

88.2

17.9

21.2

21.5

6.8

137.3

-86.9

0.0

6.4

-0.7

5.6

6.7

185
16,931,219
13,957,568

188
16,663,510
13,628,595

190
16,311,705
13,321,986

188
16,167,781
13,125,102

187
15,870,969
12,847,286

-1.1
6.7
8.6

0
0
0

18
9,166
7,905

89
367,964
310,178

67
4,151,617
3,517,380

11
12,402,472
10,122,105

Derivative Contracts by Underlying Risk Exposure
Interest rate
Foreign exchange
Equity
Commodity & other
Total

122,237,175
41,349,240
4,231,348
1,543,080
169,360,843

127,448,311
41,961,260
4,620,993
1,664,064
175,694,627

129,126,796
40,661,753
4,225,427
1,592,567
175,606,542

133,860,018
42,039,817
3,976,351
1,544,723
181,420,909

112,807,097
39,084,210
3,746,888
1,358,385
156,996,580

8.4
5.8
12.9
13.6
7.9

0
0
0
0
0

536
0
0
0
536

43,964
2,594
36
9
46,602

Trading Revenues: Cash & Derivative Instruments
Interest rate**
Foreign exchange**
Equity**
Commodity & other (including credit derivatives)**
Total trading revenues**

278
3,747
3,534
-28
7,531

-323
3,998
1,729
1,415
6,819

3,373
1,546
2,384
754
8,057

-29
6,343
2,388
1,785
10,487

3,625
-92.3
18 20,716.7
2,480
42.5
191
-114.7
6,314
19.3

0
0
0
0
0

0
0
0
0
0

2
6
12
0
19

-59
374
45
32
392

335
3,367
3,478
-60
7,120

5.4
18.3

4.8
15.4

5.8
18.1

7.5
21.0

4.6
16.8

0.0
0.0

0.0
0.0

0.5
1.5

1.1
3.8

7.1
24

577
20,931,820
17,350,292

607
20,529,306
16,878,746

609
19,988,674
16,400,333

615
19,820,456
16,180,006

623
19,249,586
15,655,539

-7.4
8.7
10.8

0
0
0

129
67,606
57,575

310
1,171,023
986,831

125
6,446,568
5,420,281

13
13,246,623
10,885,604

3,998,706
497,831
24,767
41,128
4,562,432

4,320,508
542,719
28,088
39,417
4,930,733

4,170,881
548,414
29,534
39,380
4,788,208

3,573,201
569,053
28,361
37,531
4,208,145

3,192,677
511,407
27,826
36,119
3,768,028

25.2
-2.7
-11.0
13.9
21.1

0
0
0
0
0

7,226
0
23
0
7,248

117,300
64
12
66
117,442

1,299,225
38,610
9,033
4,788
1,351,656

2,574,955
459,157
15,699
36,273
3,086,085

Fair Value of Derivative Contracts
Interest rate contracts
Foreign exchange contracts
Equity contracts
Commodity & other (excluding credit derivatives)
Credit derivatives as guarantor**
Credit derivatives as beneficiary**
Derivative Contracts by Maturity***
Interest rate contracts 
< 1 year
		 
1-5 years
		 
> 5 years
Foreign exchange and gold contracts 
< 1 year
		 
1-5 years
		 
> 5 years
Equity contracts 
< 1 year
		 
1-5 years
		 
> 5 years
	Commodity & other contracts (including credit
derivatives, excluding gold contracts) 
< 1 year
		 
1-5 years
		 
> 5 years
Risk-Based Capital: Credit Equivalent Amount
Total current exposure to tier 1 capital (%)
Total potential future exposure to tier 1 capital (%)
Total exposure (credit equivalent amount)
to tier 1 capital (%)
Credit losses on derivatives****
HELD FOR TRADING
Number of institutions reporting derivatives
Total assets of institutions reporting derivatives
Total deposits of institutions reporting derivatives

Share of Revenue
Trading revenues to gross revenues (%)**
Trading revenues to net operating revenues (%)**
HELD FOR PURPOSES OTHER THAN TRADING
Number of institutions reporting derivatives
Total assets of institutions reporting derivatives
Total deposits of institutions reporting derivatives
Derivative Contracts by Underlying Risk Exposure
Interest rate
Foreign exchange
Equity
Commodity & other
Total notional amount

Less
Than
$100
Million

$100
Million
to $1
Billion

$1
Billion
to $10
Billion

$10
Billion
to $250
Billion

Greater
Than
$250
Billion

1,177,357 121,015,319
1,477,337 39,869,310
67,948
4,163,364
93,253
1,449,818
2,815,894 166,497,811

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
applicaable to banks filing the FFIEC 051 form.

12 FDIC QUARTERLY

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

(dollar figures in millions)
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
1-4 family residential loans
Home equity loans
Credit card receivables
Auto loans
Other consumer loans
Commercial and industrial loans
All other loans, leases, and other assets
Total securitized and sold
Maximum Credit Exposure by Asset Type
1-4 family residential loans
Home equity loans
Credit card receivables
Auto loans
Other consumer loans
Commercial and industrial loans
All other loans, leases, and other assets
Total credit exposure
Total unused liquidity commitments provided to institution’s own securitizations
Securitized Loans, Leases, and Other Assets 30-89 Days Past Due (%)
1-4 family residential loans
Home equity loans
Credit card receivables
Auto loans
Other consumer loans
Commercial and industrial loans
All other loans, leases, and other assets
Total loans, leases, and other assets
Securitized Loans, Leases, and Other Assets 90 Days or More Past Due (%)
1-4 family residential loans
Home equity loans
Credit card receivables
Auto loans
Other consumer loans
Commercial and industrial loans
All other loans, leases, and other assets
Total loans, leases, and other assets
Securitized Loans, Leases, and Other Assets Charged-off
(net, YTD, annualized, %)
1-4 family residential loans
Home equity loans
Credit card receivables
Auto loans
Other consumer loans
Commercial and industrial loans
All other loans, leases, and other assets
Total loans, leases, and other assets
Seller’s Interests in Institution's Own Securitizations – Carried as Loans
Home equity loans
Credit card receivables
Commercial and industrial loans
Seller’s Interests in Institution's Own Securitizations – Carried as Securities
Home equity loans
Credit card receivables
Commercial and industrial loans
Assets Sold with Recourse and Not Securitized
Number of institutions reporting asset sales
Outstanding Principal Balance by Asset Type
1-4 family residential loans
All other loans, leases, and other assets
Total sold and not securitized

4th
Quarter
2021

3rd
Quarter
2021

2nd
Quarter
2021

1st
Quarter
2021

4th
Quarter
2020

%
Change
20Q421Q4

Less
Than
$100
Million

$100
Million
to $1
Billion

$1
Billion
to $10
Billion

$10
Billion
to $250
Billion

Greater
Than
$250
Billion

35

9

62

63

60

59

57

8.8

1

6

11

$324,821
6
0
169
1,241
6,624
106,355
439,216

$344,767
6
0
209
1,313
6,285
101,198
453,778

$356,054
7
0
316
1,388
0
95,055
452,820

$358,230
7
0
392
1,469
0
91,085
451,183

$382,125
8
0
289
1,569
0
87,334
471,325

-15.0
-25.0
0.0
-41.5
-20.9
0.0
21.8
-6.8

$0
0
0
0
0
0
3
3

$5,423
0
0
0
0
0
0
5,423

$10,938
0
0
0
0
0
7,252
18,190

1,041
0
0
2
0
275
2,500
3,818
241

1,016
0
0
2
0
257
2,414
3,689
255

964
0
0
26
0
0
2,301
3,291
67

1,057
0
0
26
0
0
2,274
3,357
76

1,210
0
0
26
0
0
2,029
3,265
71

-14.0
0.0
0.0
-92.3
0.0
0.0
23.2
16.9
239.4

0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0

51
0
0
0
0
0
63
114
0

476
0
0
2
0
0
118
0
0

514
0
0
0
0
275
2,320
3,109
241

2.1
4.4
0.0
1.6
2.7
0.0
0.5
1.7

1.9
7.5
0.0
1.4
2.5
0.0
0.4
1.6

1.9
1.9
0.0
2.0
2.4
0.0
0.6
1.7

2.0
6.3
0.0
1.9
2.9
0.0
0.5
1.8

2.7
5.3
0.0
4.2
3.1
0.0
0.6
2.5

0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0

1.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0

0.5
0.0
0.0
0.0
0.0
0.0
0.5
0.0

1.7
4.4
0.0
1.6
1.7
0.0
1.7
1.4

2.3
0
0
0
3.8
0
0.4
1.7

1.9
28.1
0.0
0.1
2.5
0.0
1.3
1.5

2.2
26.3
0.0
0.1
2.3
0.0
1.5
1.8

2.4
27.3
0.0
0.2
2.2
0.0
1.9
2.1

2.7
24.5
0.0
0.2
2.4
0.0
1.8
2.3

3.0
28.9
0.0
0.6
2.4
0.0
2.4
2.5

0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0

2.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0

1.0
0.0
0.0
0.0
0.0
0.0
2.0
0.0

2.6
28.1
0.0
0.1
1.0
0.0
0.3
2.0

1.6
0
0
0
3.8
0
1.3
1.5

0.0
2.9
0.0
0.0
0.5
0.0
0.2
0.1

0.0
3.0
0.0
0.0
0.3
0.0
0.2
0.0

0.0
1.7
0.0
0.0
0.2
0.0
0.1
0.0

0.0
1.8
0.0
0.1
0.1
0.0
0.1
0.0

0.1
11.9
0.0
3.6
1.0
0.0
0.2
0.1

0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0

0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0

0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0

0.0
2.9
0.0
0.0
0.3
0.0
0.6
0.0

0
0
0
0
0.8
0
0.2
0.1

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0.0
0.0
0.0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0.0
0.0
0.0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

$95,010 $213,449
6
0
0
0
169
0
613
628
0
6,624
7,019
92,081
102,817 312,783

329

342

345

340

343

-4.1

4

105

145

66

9

32,269
139,581
171,849

33,775
137,571
171,346

37,950
135,583
173,533

36,084
135,492
171,577

35,364
131,293
166,657

-8.8
6.3
3.1

70
0
70

5,292
13
5,306

12,949
55
13,004

12,811
38,591
51,402

1,146
100,922
102,068

Maximum Credit Exposure by Asset Type
1-4 family residential loans
All other loans, leases, and other assets
Total credit exposure

11,750
40,581
52,331

12,469
40,025
52,494

14,644
39,279
53,923

13,149
39,242
52,391

13,564
37,880
51,444

-13.4
7.1
1.7

2
0
2

606
13
619

4,100
33
4,133

6,462
12,204
18,665

580
28,331
28,911

Support for Securitization Facilities Sponsored by Other Institutions
Number of institutions reporting securitization facilities sponsored by others
Total credit exposure
Total unused liquidity commitments

36
21,148
425

37
22,380
432

37
22,536
408

38
23,478
415

37
23,986
418

-2.7
-11.8
1.7

0
0
0

10
0
0

12
0
0

8
1,480
295

6
19,668
130

5,880,634

5,809,510

5,704,667

5,624,426

5,782,059

1.7

27,213

167,639

388,919

1,364,281

3,932,581

21,662

20,788

20,683

18,417

19,694

10.0

0

0

0

0

21,662

51,794
1,624
150
3.4

55,177
1,755
110
3.4

54,035
204
142
3.4

56,072
3,434
106
3.5

56,904
1,029
77
3.6

-9.0
57.8
94.8

0
6
0
0.0

0
293
4
0.1

0
295
1
0.3

248
656
55
2.3

51,546
374
90
5.1

Other
Assets serviced for others**
Asset-backed commercial paper conduits
Credit exposure to conduits sponsored by institutions and others
Unused liquidity commitments to conduits sponsored by institutions
	  and others
Net servicing income (for the quarter)
Net securitization income (for the quarter)
Total credit exposure to Tier 1 capital (%)***

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

FDIC QUARTERLY 13

2022 • Volume 16 • Number 1
TABLE VIII-A. Trust Services (All FDIC-Insured Institutions)
All Insured Institutions

(dollar figures in millions)
Number of institutions reporting
Number of institutions with fiduciary powers
Commercial banks
Savings institutions
Number of institutions exercising fiduciary powers
Commercial banks
Savings institutions
Number of institutions reporting fiduciary activity
Commercial banks
Savings institutions
Fiduciary and related assets - managed assets
Personal trust and agency accounts
Noninterest-bearing deposits
Interest-bearing deposits
U.S. Treasury and U.S. Government agency obligations
State, county and municipal obligations
Money market mutual funds
Other short-term obligations
Other notes and bonds
Common and preferred stocks
Real estate mortgages
Real estate
Miscellaneous assets
Employee benefit and retirement-related trust and
agency accounts:
Employee benefit - defined contribution
Employee benefit - defined benefit
Other employee benefit and retirement-related
	 accounts
Corporate trust and agency accounts
Investment management and investment advisory
agency accounts
Other fiduciary accounts
Total managed fiduciary accounts:
Assets
Number of accounts
Fiduciary and related assets - nonmanaged assets
Personal trust and agency accounts
Employee benefit and retirement-related trust and
agency accounts:
Employee benefit - defined contribution
Employee benefit - defined benefit
Other employee benefit and retirement-related accounts
Corporate trust and agency accounts
Other fiduciary accounts
Total nonmanaged fiduciary accounts:
Assets
Number of accounts
Custody and safekeeping accounts:
Assets
Number of accounts
Fiduciary and related services income
Personal trust and agency accounts
Retirement-related trust and agency accounts:
Employee benefit - defined contribution
Employee benefit - defined benefit
Other employee benefit and retirement-related accounts
Corporate trust and agency accounts
Investment management agency accounts
Other fiduciary accounts
Custody and safekeeping accounts
Other fiduciary and related services income
Total gross fiduciary and related services income
Less: Expenses
Less: Net losses from fiduciary and related services
Plus: Intracompany income credits for fiduciary and
	  related services
Net fiduciary and related services income
Collective investment funds and common trust funds
(market value)
Domestic equity funds
International/global equity funds
Stock/bond blend funds
Taxable bond funds
Municipal bond funds
Short-term investments/money market funds
Specialty/other funds
Total collective investment funds

14 FDIC QUARTERLY

Asset Size Distribution

Dec 31
2021

Dec 31
2020

Dec 31
2019

Dec 31
2018

% Change
2020-2021

Less
Than $100
Million

$100
Million to
$1 Billion

$1 Billion
to
$10 Billion

$10 Billion
to $250
Billion

Greater
Than $250
Billion

4,839
1,528
1,416
112
1,135
1,046
89
1,081
1,001
80

5,002
1,578
1,461
117
1,171
1,079
92
1,118
1,034
84

5,177
1,627
1,500
127
1,207
1,106
101
1,147
1,055
92

5,406
1,686
1,561
125
1,260
1,162
98
1,199
1,106
93

-3.3
-3.2
-3.1
-4.3
-3.1
-3.1
-3.3
-3.3
-3.2
-4.8

817
111
101
10
65
55
10
62
52
10

3,049
884
837
47
637
599
38
594
562
32

813
417
371
46
330
298
32
322
292
30

147
104
95
9
91
82
9
91
83
8

13
12
12
0
12
12
0
12
12
0

829,855
5,824
83,238
128,417
237,992
163,253
183,013
372,612
4,762,236
1,792
55,982
164,833

744,217
4,917
77,995
131,620
252,130
156,493
160,426
341,460
4,009,783
2,048
49,113
143,307

709,267
7,674
69,079
138,753
253,381
146,718
132,383
301,599
3,581,225
2,125
52,582
130,782

630,296
8,900
76,197
124,625
234,846
122,932
135,186
287,252
2,964,907
2,087
49,756
107,310

11.5
18.4
6.7
-2.4
-5.6
4.3
14.1
9.1
18.8
-12.5
14.0
15.0

20,646
11
95
1,575
4,218
2,733
92
8,035
45,085
10
1,135
2,083

60,424
286
2,932
2,199
8,788
11,826
106
4,933
275,541
143
7,996
6,030

109,152
381
8,078
12,658
18,535
15,229
386
16,394
268,449
282
7,564
16,574

321,881
421
15,867
51,767
91,634
61,478
4,865
49,543
884,391
1,059
17,205
44,678

317,750
4,725
56,266
60,218
114,816
71,986
177,563
293,707
3,288,771
298
22,082
95,468

743,167
686,683

594,988
634,612

493,000
602,747

395,229
508,367

24.9
8.2

2,315
4,203

21,913
3,204

15,931
20,975

31,256
25,194

671,752
633,107

510,203
23,813

454,678
27,836

408,075
23,739

339,960
15,607

12.2
-14.5

8,143
5

96,596
306

39,468
2,447

128,722
6,654

237,275
14,401

2,734,651
630,819

2,319,578
553,382

2,110,931
468,541

1,832,929
391,609

17.9
14.0

25,454
4,306

125,233
13,104

154,512
22,046

610,311
98,890

1,819,142
492,473

6,159,191
2,051,292

5,329,291
1,953,763

4,816,302
1,892,284

4,113,997
1,852,807

15.6
5.0

65,072
85,913

320,781
538,637

364,530
327,343

1,222,907
523,121

4,185,901
576,278

452,238

386,951

339,489

300,897

16.9

14,540

27,104

27,106

215,008

168,480

2,250,463
2,978,739
772,607
4,157,859
3,543,431

2,076,354
3,036,632
773,596
3,846,196
3,429,906

2,504,371
4,697,794
1,620,838
3,584,494
3,998,882

2,152,994
4,432,130
1,489,228
3,338,071
3,470,168

8.4
-1.9
-0.1
8.1
3.3

207,257
14,415
46,119
5
13,593

82,139
15,457
3,970
3,457
42,723

54,566
17,759
18,670
305,078
37,828

981,712
1,086,386
165,248
382,459
510,186

924,788
1,844,722
538,600
3,466,860
2,939,101

14,155,345
4,449,885

13,549,635
4,752,447

16,745,867 15,183,488
4,304,374
3,909,570

4.5
-6.4

295,929
2,006,831

174,860
160,949

461,007
118,417

3,341,000
366,195

9,882,550
1,797,493

143,775,262 129,464,890 110,653,618 96,368,744
24,150,693 13,479,805 13,731,356 13,286,592

11.1
79.2

53,421
184,657

1,942,804
10,035,030

1,321,851
9,478,837

12,996,312 127,460,875
2,081,042
2,371,127

5,228

4,700

4,584

4,745

11.2

138

243

626

2,011

2,210

1,127
1,079
2,693
1,736
11,114
509
17,752
1,079
42,623
35,625
270

1,030
1,102
2,243
1,885
9,585
606
16,127
1,032
38,540
34,306
547

1,195
1,361
2,176
1,875
9,110
803
14,535
926
36,841
34,622
502

1,373
1,502
2,114
1,774
9,140
775
14,927
983
37,511
35,122
300

9.4
-2.1
20.1
-7.9
16.0
-16.0
10.1
4.6
10.6
3.8
-50.6

29
11
81
0
166
6
10
10
458
289
1

96
21
810
6
947
1
664
36
2,950
2,112
4

181
26
283
199
1,094
5
284
190
2,974
2,023
5

297
312
828
538
3,513
169
2,179
269
10,201
7,916
41

524
710
690
993
5,395
327
14,614
575
26,040
23,286
218

6,274
12,682

7,335
10,777

10,137
11,550

9,307
11,154

-14.5
17.7

2
162

2
708

186
1,045

899
3,058

5,185
7,708

1,140,121
344,854
225,365
157,802
2,030
165,770
70,819
2,111,006

894,542
312,134
209,306
153,517
2,106
156,498
62,117
1,794,996

789,065
257,360
175,200
133,911
2,287
143,418
61,674
1,570,104

615,673
202,917
148,831
125,119
2,004
143,955
58,833
1,303,752

27.5
10.5
7.7
2.8
-3.6
5.9
14.0
17.6

9,971
1,232
2,350
1,043
0
3,557
0
18,379

9,203
13,814
515
2,699
0
0
9,186
35,685

12,078
129
897
1,588
47
0
32
15,850

61,395
12,813
37,990
18,626
868
1,887
9,168
144,565

1,047,474
316,866
183,613
133,847
1,115
160,326
52,433
1,896,527

QUARTERLY BANKING PROFILE

COMMUNITY BANK PERFORMANCE
Community banks are identified based on criteria defined in the FDIC’s 2020 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 2021 Net Income Rose on Higher Net Interest Income
Quarterly Net Income Continued to Increase Year Over Year
Net Interest Margin Narrowed
Loan and Lease Balances Increased From One Quarter and One Year Ago
Asset Quality Continued to Improve
Full-Year Net Income
Increased in 2021

Full-year 2021 net income increased $7.4 billion (29.3 percent) to $32.7 billion from 2020, driven
by higher net interest income (up $6.8 billion, 9.3 percent) and lower provision expense (down
$6.0 billion, 84.7 percent). A $974.1 million increase in noninterest income also supported
earnings growth, which was partially offset by a $3.9 billion increase in noninterest expense and
$2.3 billion increase in income taxes. The net interest margin (NIM) fell 12 basis points from 2020
to 3.27 percent, as the 41 basis point decline in the yield on earning assets outpaced the 29 basis
point decline in the cost of funds and growth in earning assets outpaced growth in net interest
income. The average community bank full-year pretax return on assets (ROA) ratio increased
22 basis points to 1.52 percent in 2021. The percentage of unprofitable community banks declined
from 4.5 percent to 3.2 percent, the lowest level on record.

Community Bank
Quarterly Net Income
Continued to Increase
Year Over Year

Community bank quarterly net income increased by $511.6 million (7.1 percent) from a year ago to
$7.8 billion in fourth quarter 2021. Higher net interest income and lower provision expense more
than offset a decline in noninterest income and growth in noninterest expense. Just over half
of all community banks (51.2 percent) reported annual improvements in quarterly net income.
However, net income declined $719.9 million (8.5 percent) from third quarter 2021 because of
higher noninterest expense. The average community bank quarterly pretax ROA ratio decreased
1 basis point from one year ago and 16 basis points from one quarter ago to 1.40 percent, as
average asset growth outpaced growth in earnings.

Growth in Net Interest
Income Lifted Net
Operating Revenue

Growth in net interest income of $1.3 billion (6.7 percent) overcame a decline in noninterest income
of $707.0 million (10.4 percent) to lift net operating revenue $588.4 million (2.3 percent) from
fourth quarter 2020. Lower interest expense (down $910.9 million, 35.1 percent) generated most of
the growth in net interest income, while lower gains on loan sales (down $1.5 billion, 50.6 percent)
drove the decline in noninterest income. Quarterly NIM fell 11 basis points from the year-ago
quarter to 3.22 percent, as growth in average earning assets outpaced growth in net interest
income. The yield on earning assets fell 30 basis points and the cost of funding earning assets fell
19 basis points from the year-ago quarter. The average cost of funds of 0.26 percent reached the
lowest level on record since Quarterly Banking Profile data collection began in first quarter 1984.

Chart 1

Chart 2

Contributors to the Year-Over-Year Change in Income
FDIC-Insured Community Banks
$ Billions
1.5

Positive Factor
$0.51

$1.30

-$0.91

-$0.71

$0.56

Negative Factor
-$0.21

$0.27

Net Interest Margin
Percent

Community Banks (3.22)
Industry (2.56)

4.00
3.75
3.50

0.5

3.25
3.00

-0.5

2.75
-1.5

7%

7%

Net
Income

Net
Interest
Income

Source: FDIC.

-74%

-10%

3%

Loan Loss Noninterest Noninterest
Provisions
Income
Expense

-53%

19%

Realized
Gains on
Securities

Income
Taxes

2.50
2.25
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Source: FDIC.

FDIC QUARTERLY 15

2022 • Volume 16 • Number 1

Noninterest Expense
Increased From the
Year-Ago Quarter and
Prior Quarter

Noninterest expense of $17.1 billion was up $555.9 million (3.4 percent) from fourth quarter
2020, driven by an increase in “all other noninterest expense” of $372.0 million (7.5 percent).1
Higher data processing and marketing expenses drove the increase in the “all other noninterest
expense” category. An increase in salary and benefits expense of $167.6 million (1.7 percent) also
contributed to the annual growth in noninterest expense. Average assets per employee increased
10.0 percent to $7.1 million from the year-ago quarter. While more than two-thirds of community
banks (69.4 percent) reported higher noninterest expense compared with fourth quarter 2020,
noninterest expense as a percentage of average assets declined 16 basis points from fourth quarter
2020 to 2.51 percent.
Quarterly, noninterest expense rose $733.6 million (4.5 percent) because of both an increase
in “all other noninterest expense” of $390.0 million (7.9 percent) and an increase in salary
and benefits expense of $331.6 million (3.5 percent). Higher data processing expense drove the
quarterly increase in the “all other noninterest expense” category.

Provision Expense
Decreased From One Year
Ago but Increased From
One Quarter Ago

Provision expense declined $914.9 million (74.0 percent) from fourth quarter 2020 but
increased $39.2 million (13.9 percent) from third quarter 2021 to $320.8 million. Eighty-two
community banks had adopted current expected credit loss (CECL) accounting as of fourth
quarter. Community bank CECL adopters reported negative provision expense of $18.4 million
in fourth quarter, an increase of $50.0 million from the previous quarter and a reduction of
$173.9 million from one year ago. Provision expense for community banks that had not adopted
CECL accounting totaled $339.2 million, a decline of $10.7 million from one quarter ago and
$740.9 million from one year ago.

Allowance for Loan and
Lease Losses to Total
Loans Remained Higher
Than the Pre-Pandemic
Level

The allowance for loan and lease losses (ALLL) as a percentage of total loans and leases declined
3 basis points from the year-ago quarter to 1.29 percent. The ALLL as a percentage of loans 90
days or more past due or in nonaccrual status (coverage ratio) increased 53.7 percentage points
from the year-ago quarter to 223.8 percent, a record high, due to declining noncurrent loan
balances. This ratio is well above the 147.9 percent reported before the pandemic in fourth quarter
2019. The coverage ratio for community banks is 49.9 percentage points above the coverage ratio
for noncommunity banks.

Total Assets Increased
From the Previous Quarter

Total assets increased $60.3 billion (2.2 percent) from the previous quarter and $262.9 billion
(10.5 percent) from one year ago. Securities were the primary driver of both the quarterly
and annual asset growth, increasing $44.0 billion (7.9 percent) from one quarter ago and
$169.7 billion (39.0 percent) from one year ago. Despite a small decline in the quarter, cash and
balances due from depository institutions remain elevated at 11.5 percent of total assets, higher
than the pre-pandemic level (7.0 percent) reported in fourth quarter 2019.
1 All

other noninterest expense includes, but is not limited to, automated teller machine and interchange expenses, legal
fees, advertising and marketing expenses, consulting expense, data processing expense, and FDIC deposit insurance
assessments.

Chart 3

Chart 4
Noncurrent Loan Rates for FDIC-Insured Community Banks

Change in Loan Balances and Unused Commitments
FDIC-Insured Community Banks
Change 4Q 2021 vs. 4Q 2020
Change 4Q 2021 vs. 3Q 2021

$ Billions
60
50.6
40
20

17.6

16.3

5.2 4.4

-20

5.9

0.3 0.6

7.1

10.6

-12.2

10
8
6

-60

4

-62.3

Nonfarm
Commercial
Nonresidential & Industrial
RE

Source: FDIC.

C&I Loans
Home Equity
Farm Loans

12
1.5

-40

-80

16

C&D Loans
Nonfarm Nonresidential RE
1–4 Family RE

14

35.3

0

Share of Loan Portfolio Noncurrent
Percent

1–4 Family Construction & Agricultural Commercial RE Commercial
Residential Development Production & Construction & Industrial
RE

Loan Balances

16 FDIC QUARTERLY

Unused
Commitments

2
0
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Source: FDIC.

QUARTERLY BANKING PROFILE

Loan and Lease Balances
Increased Modestly From
the Previous Quarter and
a Year Ago

Community bank loan and lease balances increased $24.3 billion (1.4 percent) between third
and fourth quarter 2021. Growth in nonfarm nonresidential commercial real estate (CRE)
loan balances of $16.3 billion (3.1 percent) and construction and development loan balances of
$5.9 billion (4.7 percent) more than offset a $12.2 billion (4.7 percent) decline in commercial
and industrial (C&I) loan balances. An increase in unused CRE loan commitments of $7.1 billion
(5.8 percent) drove the quarter-over-quarter growth of $11.0 billion (2.8 percent) in unused
commitments.
All major loan categories except C&I grew in 2021, and 57.8 percent of community banks recorded
annual loan growth. Total loans and leases balances increased $34.2 billion (2.0 percent) from
one year ago driven by growth in nonfarm nonresidential CRE loan balances of $50.6 billion
(10.4 percent). C&I loan balances declined $62.3 billion (20.1 percent) from fourth quarter 2020.
The annual decline in C&I loan balances was due to Paycheck Protection Program (PPP) loan
repayment and forgiveness. PPP loan balances declined $83.8 billion (75.0 percent) in the year
ending fourth quarter 2021.

Small Loans to Businesses
Declined 12.8 Percent
Year Over Year

Community bank small loans to businesses fell $43.4 billion (12.8 percent) in 2021 primarily due
to a $45.6 billion decline in small C&I loan balances. Small farmland and agricultural production
loan balances also fell $778.0 million, while small nonfarm nonresidential CRE loans rose
$3.0 billion (2.3 percent) over the year. Community banks hold 40.0 percent of total small loans to
businesses, the same share as a year ago.

Deposit Growth
Accelerated From the
Previous Quarter

Community banks reported deposit growth of 2.8 percent ($63.4 billion) during the fourth
quarter, up from 2.6 percent ($58.9 billion) in third quarter 2021 and 2.1 percent ($46.0 billion)
in second quarter 2021. More than 75 percent of community banks (76.6 percent) reported an
increase in deposit balances. Growth in deposits of more than $250,000 accounted for most of the
deposit growth (up $55.8 billion, or 5.1 percent). Growth in domestic deposit balances was largely
in interest-bearing deposits (up 41.1 billion, or 2.5 percent), while noninterest-bearing deposits
increased $22.3 billion (3.5 percent).

Noncurrent Loan Balances
Continued to Decline
Quarter Over Quarter

Nearly 60 percent of community banks (59.1 percent) reported quarter-over-quarter reductions
in the balance of loans and leases 90 days or more past due or in nonaccrual status (noncurrent
loan balances). Noncurrent loan balances declined $1.1 billion (10.0 percent) to $11.1 billion from
third quarter 2021. The quarterly decline in noncurrent loan balances was mainly attributable
to a $489.5 million (14.5 percent) decrease in nonfarm nonresidential CRE noncurrent balances,
a $214.9 million (7.4 percent) decrease in 1–4 family residential noncurrent balances, and a
$124.2 million (6.6 percent) decrease in C&I noncurrent balances. The noncurrent rate for total
loans and leases dropped 7 basis points from third quarter to 0.58 percent, the lowest noncurrent
rate on record for community banks.

Net Charge-Offs Declined
From One Year Ago

Net charge-offs declined in all major loan categories from one year ago and in aggregate declined
$307.4 million (45.7 percent) to $365.4 million. The largest contributors to the year-over-year
decrease in net charge-offs were the C&I portfolio, which declined $167.5 million (57.8 percent),
and the nonfarm nonresidential CRE portfolio, which declined $38.6 million (33.2 percent). The
net charge-off rate for community banks declined 6 basis points from the year-ago quarter to
0.09 percent.

Some Capital Ratios
Declined as Growth in
Assets Outpaced
Capital Formation

Equity capital grew $2.5 billion (0.9 percent) to $292.6 billion in fourth quarter. The leverage capital
ratio declined 10 basis points to 10.16 percent in fourth quarter 2021, as growth in average assets
outpaced tier 1 capital formation. The average tier 1 risk-based capital ratio among community
banks that did not file the community bank leverage ratio (CBLR) was 14.36 percent, down 26 basis
points from the prior quarter, as growth in risk-weighted assets outpaced tier 1 capital formation.
The average CBLR for the 1,699 banks that elected to use the CBLR framework was 11.2 percent,
nearly unchanged from third quarter 2021.

One New Community
Bank Opened and No
Community Banks Failed
in Fourth Quarter 2021

The number of community banks declined to 4,391, down 59 from the previous quarter.
Six banks transitioned from community to noncommunity banks, four banks transitioned
from noncommunity to community banks, three community banks ceased operations, and
54 community banks merged during the quarter.
Author:
Angela Hinton
Senior Financial Analyst
Division of Insurance and Research

FDIC QUARTERLY 17

2022 • Volume 16 • 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 (%)

2021

2020

2019

2018

2017

2016

2015

1.25
11.61
10.16
0.40
0.06
8.69
3.27
28.51
4,391
3.17

1.09
9.72
10.32
0.60
0.12
14.06
3.39
-0.03
4,557
4.52

1.19
10.24
11.15
0.65
0.13
-1.26
3.66
-4.14
4,748
3.96

1.19
10.57
11.09
0.70
0.13
2.20
3.72
27.90
4,979
3.64

0.96
8.65
10.80
0.78
0.16
1.12
3.62
0.19
5,227
5.72

0.99
8.81
10.69
0.94
0.16
0.00
3.57
0.00
5,461
4.67

0.99
8.85
10.67
1.07
0.15
2.71
3.57
9.56
5,734
5.04

* Excludes insured branches of foreign banks (IBAs).

TABLE II-B. Aggregate Condition and Income Data, FDIC-Insured Community Banks
4th Quarter
2021

3rd Quarter
2021

4th Quarter
2020

%Change
20Q4-21Q4

4,391
386,215

4,450
390,766

4,557
390,966

-3.6
-1.2

CONDITION DATA
Total assets
Loans secured by real estate
		 1-4 Family residential mortgages
		 Nonfarm nonresidential
		 Construction and development
		 Home equity lines
Commercial & industrial loans
Loans to individuals
		Credit cards
Farm loans
Other loans & leases
Less: Unearned income
Total loans & leases
Less: Reserve for losses*
Net loans and leases
Securities**
Other real estate owned
Goodwill and other intangibles
All other assets

$2,757,175
1,293,022
385,625
534,746
129,988
40,329
247,948
65,865
2,159
47,200
50,697
832
1,703,900
22,051
1,681,848
604,552
1,164
20,879
448,731

$2,737,509
1,275,740
384,817
526,769
126,064
40,759
263,727
65,285
2,024
46,766
52,532
1,001
1,703,048
22,516
1,680,532
570,038
1,365
20,345
465,228

$2,536,765
1,220,521
386,936
492,427
115,173
42,143
315,032
64,747
2,101
47,488
49,087
1,047
1,695,828
22,451
1,673,377
443,288
1,857
17,854
400,390

8.7
5.9
-0.3
8.6
12.9
-4.3
-21.3
1.7
2.8
-0.6
3.3
-20.5
0.5
-1.8
0.5
36.4
-37.3
16.9
12.1

Total liabilities and capital
Deposits
		 Domestic office deposits
		 Foreign office deposits
		Brokered deposits
Estimated insured deposits
Other borrowed funds
Subordinated debt
All other liabilities
Total equity capital (includes minority interests)
		 Bank equity capital

2,757,175
2,362,931
2,360,525
2,405
49,899
1,567,652
78,938
272
22,301
292,733
292,604

2,737,509
2,334,106
2,331,687
2,419
51,553
1,571,054
84,259
283
24,636
294,226
294,099

2,536,765
2,117,890
2,115,490
2,401
61,284
1,472,429
117,634
352
24,558
276,332
276,211

8.7
11.6
11.6
0.2
-18.6
6.5
-32.9
-22.6
-9.2
5.9
5.9

Loans and leases 30-89 days past due
Noncurrent loans and leases
Restructured loans and leases
Mortgage-backed securities
Earning assets
FHLB Advances
Unused loan commitments
Trust assets
Assets securitized and sold
Notional amount of derivatives

5,609
9,853
4,693
268,859
2,592,251
53,705
397,960
402,818
24,368
126,487

5,312
11,056
4,987
260,168
2,568,774
55,360
392,532
320,703
24,361
142,538

7,532
13,198
5,521
201,317
2,372,272
72,764
347,378
348,944
23,259
181,390

-25.5
-25.3
-15.0
33.6
9.3
-26.2
14.6
15.4
4.8
-30.3

(dollar figures in millions)
Number of institutions reporting
Total employees (full-time equivalent)

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
2021

Full Year
2020

%Change

4th Quarter
2021

4th Quarter
2020

%Change
20Q4-21  Q4

$88,059
7,635
80,423
1,080
24,641
64,921
854
7,221
30
32,725
32,690
1,081
13,830
18,860
31,982

$88,371
13,389
74,981
7,026
24,181
62,336
1,086
5,068
1
25,820
25,767
2,014
12,021
13,745
24,887

-0.4
-43.0
7.3
-84.6
1.9
4.1
-21.3
42.5
N/M
26.7
26.9
-46.3
15.1
37.2
28.5

$22,225
1,684
20,541
321
6,119
17,056
190
1,737
28
7,765
7,768
365
4,502
3,266
7,580

$22,209
2,665
19,544
1,227
6,962
16,798
408
1,490
0
7,399
7,382
637
3,969
3,412
7,049

0.1
-36.8
5.1
-73.9
-12.1
1.5
-53.4
16.5
N/M
4.9
5.2
-42.7
13.4
-4.3
7.5

* 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.

18 FDIC QUARTERLY

N/M - Not Meaningful

QUARTERLY BANKING PROFILE
TABLE II-B. Aggregate Condition and Income Data, FDIC-Insured Community Banks
Prior Periods Adjusted for Mergers
4th Quarter
2021

3rd Quarter
2021

4th Quarter
2020

%Change
20Q4-21Q4

4,391
386,215

4,391
386,319

4,383
382,963

0.2
0.8

CONDITION DATA
Total assets
Loans secured by real estate
		 1-4 Family residential mortgages
		 Nonfarm nonresidential
		 Construction and development
		 Home equity lines
Commercial & industrial loans
Loans to individuals
		Credit cards
Farm loans
Other loans & leases
Less: Unearned income
Total loans & leases
Less: Reserve for losses*
Net loans and leases
Securities**
Other real estate owned
Goodwill and other intangibles
All other assets

$2,757,175
1,293,022
385,625
534,746
129,988
40,329
247,948
65,865
2,159
47,200
50,697
832
1,703,900
22,051
1,681,848
604,552
1,164
20,879
448,731

$2,696,906
1,259,030
381,239
518,472
124,129
39,933
260,143
64,696
2,016
46,617
50,082
990
1,679,577
22,195
1,657,383
560,529
1,358
20,072
457,564

$2,494,277
1,202,456
380,449
484,167
112,400
40,918
310,265
60,853
1,952
46,855
50,331
1,021
1,669,738
22,222
1,647,516
434,814
1,825
19,426
390,696

10.5
7.5
1.4
10.4
15.6
-1.4
-20.1
8.2
10.6
0.7
0.7
-18.5
2.0
-0.8
2.1
39.0
-36.2
7.5
14.9

Total liabilities and capital
Deposits
		 Domestic office deposits
		 Foreign office deposits
		Brokered deposits
Estimated insured deposits
Other borrowed funds
Subordinated debt
All other liabilities
Total equity capital (includes minority interests)
		 Bank equity capital

2,757,175
2,362,931
2,360,525
2,405
49,899
1,567,652
78,938
272
22,301
292,733
292,604

2,696,906
2,299,510
2,297,091
2,419
50,343
1,549,449
82,684
277
24,197
290,238
290,111

2,494,277
2,081,428
2,079,027
2,401
59,449
1,449,981
114,466
485
24,023
273,876
273,756

10.5
13.5
13.5
0.2
-16.1
8.1
-31.0
-43.9
-7.2
6.9
6.9

Loans and leases 30-89 days past due
Noncurrent loans and leases
Restructured loans and leases
Mortgage-backed securities
Earning assets
FHLB Advances
Unused loan commitments
Trust assets
Assets securitized and sold
Notional amount of derivatives

5,609
9,853
4,693
268,859
2,592,251
53,705
397,960
402,818
24,368
126,487

5,278
10,952
4,940
254,210
2,530,537
54,256
386,991
320,703
24,361
141,053

7,477
13,240
5,453
195,634
2,330,314
71,476
336,082
344,896
23,130
180,974

-25.0
-25.6
-13.9
37.4
11.2
-24.9
18.4
16.8
5.4
-30.1

(dollar figures in millions)
Number of institutions reporting
Total employees (full-time equivalent)

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
2021

Full Year
2020

%Change

4th Quarter
2021

4th Quarter
2020

%Change
20Q4-21  Q4

$88,059
7,635
80,423
1,080
24,641
64,921
854
7,221
30
32,725
32,690
1,081
13,830
18,860
31,982

$86,603
13,029
73,574
7,049
23,667
60,986
1,079
4,952
1
25,334
25,280
2,090
11,996
13,284
24,407

1.7
-41.4
9.3
-84.7
4.1
6.5
-20.9
45.8
N/M
29.2
29.3
-48.3
15.3
42.0
31.0

$22,225
1,684
20,541
321
6,119
17,056
190
1,737
28
7,765
7,768
365
4,502
3,266
7,580

$21,841
2,595
19,246
1,236
6,826
16,500
402
1,465
0
7,274
7,256
673
3,938
3,318
6,929

1.8
-35.1
6.7
-74.0
-10.4
3.4
-52.7
18.5
N/M
6.8
7.1
-45.7
14.3
-1.6
9.4

* 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

FDIC QUARTERLY 19

2022 • Volume 16 • Number 1
TABLE III-B. Aggregate Condition and Income Data by Geographic Region, FDIC-Insured Community Banks
Fourth Quarter 2021
(dollar figures in millions)

Geographic Regions*
All Community Banks

New York

Atlanta

Chicago

Kansas City

Dallas

San Francisco

4,391
386,215

487
79,127

498
41,413

963
79,023

1,190
70,615

986
82,819

267
33,218

CONDITION DATA
Total assets
Loans secured by real estate
		 1-4 Family residential mortgages
		 Nonfarm nonresidential
		 Construction and development
		 Home equity lines
Commercial & industrial loans
Loans to individuals
		Credit cards
Farm loans
Other loans & leases
Less: Unearned income
Total loans & leases
Less: Reserve for losses**
Net loans and leases
Securities***
Other real estate owned
Goodwill and other intangibles
All other assets

$2,757,175
1,293,022
385,625
534,746
129,988
40,329
247,948
65,865
2,159
47,200
50,697
832
1,703,900
22,051
1,681,848
604,552
1,164
20,879
448,731

$696,394
377,341
134,494
145,032
26,722
11,491
61,419
16,183
377
541
15,558
145
470,896
5,350
465,547
131,338
186
7,004
92,319

$291,915
134,466
37,281
64,484
16,196
5,351
24,868
6,559
107
1,229
2,945
150
169,917
2,156
167,761
64,161
181
1,183
58,629

$494,678
221,311
63,839
88,691
19,230
8,980
46,364
11,959
187
8,146
11,679
77
299,381
3,914
295,467
116,540
239
3,883
78,549

$469,347
204,755
56,109
73,028
21,196
4,679
44,029
11,988
849
26,925
6,858
101
294,452
4,193
290,260
106,481
239
2,964
69,403

$528,197
230,350
66,732
100,067
35,439
4,567
47,619
12,859
234
7,844
8,771
200
307,243
4,124
303,120
123,019
266
3,507
98,285

$276,643
124,800
27,171
63,444
11,205
5,261
23,649
6,317
404
2,516
4,886
159
162,009
2,315
159,694
63,015
52
2,337
51,545

Total liabilities and capital
Deposits
		 Domestic office deposits
		 Foreign office deposits
		Brokered deposits
		 Estimated insured deposits
Other borrowed funds
Subordinated debt
All other liabilities
Total equity capital (includes minority interests)
		 Bank equity capital

2,757,175
2,362,931
2,360,525
2,405
49,899
1,567,652
78,938
272
22,301
292,733
292,604

696,394
588,281
587,673
608
19,008
391,168
21,724
190
8,234
77,965
77,939

291,915
254,233
254,227
6
3,037
160,475
6,156
6
1,960
29,561
29,559

494,678
420,523
420,523
0
8,750
298,536
18,387
19
3,339
52,410
52,319

469,347
402,667
402,667
0
8,634
288,494
14,838
6
2,927
48,909
48,908

528,197
458,670
458,670
0
7,249
293,859
11,248
40
3,110
55,129
55,121

276,643
238,557
236,766
1,792
3,220
135,120
6,586
10
2,732
28,758
28,756

Loans and leases 30-89 days past due
Noncurrent loans and leases
Restructured loans and leases
Mortgage-backed securities
Earning assets
FHLB Advances
Unused loan commitments
Trust assets
Assets securitized and sold
Notional amount of derivatives

5,609
9,853
4,693
268,859
2,592,251
53,705
397,960
402,818
24,368
126,487

1,336
3,210
1,642
69,740
654,529
15,925
96,498
85,821
10,295
55,312

603
791
371
29,581
274,528
4,574
36,207
16,074
111
10,304

934
1,728
994
44,985
464,457
12,663
72,209
85,447
4,478
18,620

840
1,470
745
38,946
442,102
9,940
77,161
137,029
4,337
22,389

1,511
2,005
583
49,504
495,971
7,374
72,138
53,105
4,712
11,621

384
649
359
36,104
260,664
3,229
43,747
25,343
434
8,242

$22,225
1,684
20,541
321
6,119
17,056
190
1,737
28
7,765
7,768
365
4,502
3,266
7,580

$5,611
451
5,160
0
1,468
4,076
167
637
0
2,082
2,071
104
816
1,255
1,946

$2,283
158
2,125
26
615
1,819
-2
151
0
742
742
20
290
453
743

$3,856
303
3,553
62
1,514
3,189
4
325
3
1,498
1,496
68
1,075
421
1,491

$3,841
342
3,499
84
1,018
2,972
13
216
3
1,262
1,262
55
901
361
1,247

$4,453
320
4,133
108
1,016
3,333
7
206
22
1,531
1,545
85
1,065
480
1,503

$2,181
111
2,070
40
488
1,667
1
202
0
650
650
33
355
296
649

Number of institutions reporting
Total employees (full-time equivalent)

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

* 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.

20 FDIC QUARTERLY

QUARTERLY BANKING PROFILE
Table IV-B. Fourth Quarter 2021, FDIC-Insured Community Banks
All Community Banks
Performance ratios (annualized, %)
Yield on earning assets
Cost of funding earning assets
Net interest margin
Noninterest income to assets
Noninterest expense to assets
Loan and lease loss provision to assets
Net operating income to assets
Pretax return on assets
Return on assets
Return on equity
Net charge-offs to loans and leases
Loan and lease loss provision to net charge-offs
Efficiency ratio
Net interest income to operating revenue
% of unprofitable institutions
% of institutions with earnings gains

4th Quarter
2021
3.48
0.26
3.22
0.90
2.51
0.05
1.11
1.40
1.14
10.69
0.09
87.79
63.60
77.05
8.36
51.29

3rd Quarter
2021
3.60
0.29
3.31
0.92
2.45
0.04
1.26
1.56
1.27
11.87
0.07
100.16
60.40
77.19
4.36
65.91

Fourth Quarter 2021, Geographic Regions*
New York
3.46
0.28
3.18
0.85
2.36
0.00
1.13
1.57
1.20
10.73
0.09
0.42
61.14
77.86
4.93
57.70

Atlanta
3.40
0.23
3.16
0.86
2.54
0.04
1.04
1.25
1.04
10.13
0.05
130.19
65.87
77.54
9.24
52.61

Chicago
3.38
0.27
3.11
1.24
2.62
0.05
1.23
1.50
1.23
11.54
0.09
91.51
62.56
70.13
7.48
46.94

Kansas City
3.52
0.31
3.21
0.88
2.56
0.07
1.08
1.28
1.09
10.33
0.08
152.59
65.32
77.46
10.59
44.71

Dallas
3.66
0.26
3.40
0.78
2.57
0.08
1.16
1.35
1.19
11.25
0.11
127.13
64.41
80.27
8.11
59.03

San Francisco
3.39
0.17
3.21
0.71
2.44
0.06
0.95
1.25
0.95
9.13
0.08
120.97
64.90
80.92
7.12
53.56

Dallas
3.79
0.31
3.48
0.92
2.58
0.08
1.33
1.54
1.35
12.63
0.08
169.69
61.43
77.88
2.84
77.48

San Francisco
3.48
0.20
3.28
0.78
2.40
0.01
1.12
1.46
1.12
10.66
0.04
50.21
61.78
79.72
3.37
77.53

Table V-B. Full Year 2021, FDIC-Insured Community Banks
All Community Banks
Performance ratios (%)
Yield on earning assets
Cost of funding earning assets
Net interest margin
Noninterest income to assets
Noninterest expense to assets
Loan and lease loss provision to assets
Net operating income to assets
Pretax return on assets
Return on assets
Return on equity
Net charge-offs to loans and leases
Loan and lease loss provision to net charge-offs
Efficiency ratio
Net interest income to operating revenue
% of unprofitable institutions
% of institutions with earnings gains

Full Year
2021
3.58
0.31
3.27
0.94
2.48
0.04
1.22
1.52
1.25
11.61
0.06
99.94
61.42
76.55
3.17
74.83

Full Year
2020
4.00
0.61
3.39
1.02
2.63
0.30
1.05
1.30
1.09
9.72
0.12
348.90
62.34
75.61
4.52
53.90

Full Year 2021, Geographic Regions*
New York
3.49
0.33
3.15
0.77
2.31
0.00
1.08
1.50
1.14
10.25
0.09
0.05
61.49
79.32
4.52
82.14

Atlanta
3.53
0.28
3.25
0.86
2.53
0.04
1.09
1.35
1.11
10.69
0.05
152.96
64.26
78.01
5.82
77.71

Chicago
3.48
0.31
3.17
1.31
2.59
0.05
1.35
1.66
1.36
12.70
0.04
164.75
60.21
69.45
3.32
68.85

Kansas City
3.70
0.36
3.34
0.97
2.51
0.07
1.31
1.54
1.33
12.55
0.06
186.76
60.80
76.45
1.60
72.69

* See Table V-A for explanation.

FDIC QUARTERLY 21

2022 • Volume 16 • Number 1
Table VI-B. Loan Performance, FDIC-Insured Community Banks
Geographic Regions*
December 31, 2021

All Community Banks

New York

Atlanta

Chicago

Kansas City

Dallas

San Francisco

Percent of Loans 30-89 Days Past Due
All loans secured by real estate
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
Home equity loans
Other 1-4 family residential
Commercial and industrial loans
Loans to individuals
Credit card loans
Other loans to individuals
All other loans and leases (including farm)
Total loans and leases

0.28
0.22
0.17
0.13
0.26
0.51
0.34
1.31
1.85
1.30
0.23
0.33

0.25
0.09
0.16
0.18
0.29
0.40
0.26
1.43
1.84
1.42
0.08
0.28

0.29
0.24
0.12
0.16
0.27
0.64
0.48
1.26
1.23
1.26
0.16
0.35

0.33
0.30
0.17
0.08
0.24
0.68
0.24
0.60
0.70
0.60
0.14
0.31

0.25
0.23
0.13
0.09
0.25
0.43
0.34
0.88
2.66
0.74
0.24
0.29

0.40
0.27
0.28
0.12
0.37
0.67
0.44
2.44
1.18
2.46
0.44
0.49

0.17
0.14
0.12
0.03
0.16
0.31
0.40
0.97
1.25
0.96
0.27
0.24

Percent of Loans Noncurrent
All loans secured by real estate
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
Home equity loans
Other 1-4 family residential
Commercial and industrial loans
Loans to individuals
Credit card loans
Other loans to individuals
All other loans and leases (including farm)
Total loans and leases

0.57
0.38
0.54
0.27
0.49
0.70
0.71
0.48
0.77
0.47
0.44
0.58

0.69
0.65
0.68
0.38
0.65
0.82
0.88
0.42
1.03
0.40
0.08
0.68

0.45
0.23
0.37
0.17
0.35
0.68
0.59
0.34
0.31
0.34
0.39
0.46

0.61
0.45
0.65
0.20
0.35
0.72
0.62
0.22
0.19
0.22
0.29
0.58

0.48
0.32
0.50
0.10
0.38
0.41
0.57
0.31
1.05
0.25
0.59
0.50

0.61
0.25
0.57
0.18
0.30
0.80
0.79
1.11
0.38
1.12
0.49
0.65

0.34
0.41
0.26
0.19
0.76
0.38
0.65
0.29
0.55
0.28
0.77
0.40

Percent of Loans Charged-Off (net, YTD)
All loans secured by real estate
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
Home equity loans
Other 1-4 family residential
Commercial and industrial loans
Loans to individuals
Credit card loans
Other loans to individuals
All other loans and leases (including farm)
Total loans and leases

0.02
0.01
0.04
0.02
-0.01
0.01
0.13
0.51
3.73
0.41
0.10
0.06

0.05
0.06
0.08
0.02
-0.01
0.04
0.13
0.68
3.38
0.61
0.04
0.09

0.00
-0.05
0.02
-0.01
-0.04
-0.01
0.12
0.45
0.80
0.45
0.20
0.05

0.01
0.00
0.04
0.00
-0.01
-0.01
0.12
0.17
1.08
0.16
0.09
0.04

0.02
0.00
0.04
0.06
-0.01
0.00
0.09
0.59
7.04
0.17
0.06
0.06

0.02
0.01
0.03
0.03
0.04
0.01
0.20
0.53
1.26
0.52
0.12
0.08

-0.01
-0.05
0.00
0.00
0.00
-0.01
0.06
0.62
1.35
0.57
0.29
0.04

Loans Outstanding (in billions)
All loans secured by real estate
Construction and development
Nonfarm nonresidential
Multifamily residential real estate
Home equity loans
Other 1-4 family residential
Commercial and industrial loans
Loans to individuals
Credit card loans
Other loans to individuals
All other loans and leases (including farm)
Total loans and leases

$1,293.0
130.0
534.7
123.4
40.3
385.6
247.9
65.9
2.2
63.7
97.9
1,704.7

$377.3
26.7
145.0
57.3
11.5
134.5
61.4
16.2
0.4
15.8
16.1
471.0

$134.5
16.2
64.5
6.7
5.4
37.3
24.9
6.6
0.1
6.5
4.2
170.1

$221.3
19.2
88.7
22.6
9.0
63.8
46.4
12.0
0.2
11.8
19.8
299.5

$204.8
21.2
73.0
14.0
4.7
56.1
44.0
12.0
0.8
11.1
33.8
294.6

$230.4
35.4
100.1
9.2
4.6
66.7
47.6
12.9
0.2
12.6
16.6
307.4

$124.8
11.2
63.4
13.6
5.3
27.2
23.6
6.3
0.4
5.9
7.4
162.2

Memo: Unfunded Commitments (in millions)
Total Unfunded Commitments
Construction and development: 1-4 family residential
Construction and development: CRE and other
Commercial and industrial

397,960
39,138
89,307
123,608

96,498
6,925
24,820
30,683

36,207
5,702
8,942
10,015

72,209
4,383
14,569
26,074

77,161
6,129
13,572
22,335

72,138
12,640
19,527
20,592

43,747
3,359
7,876
13,909

* 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.

22 FDIC QUARTERLY

QUARTERLY BANKING PROFILE

INSURANCE FUND INDICATORS
Deposit Insurance Fund Increases by $1.2 Billion
Insured Deposits Grow by 1.6 Percent
DIF Reserve Ratio Is Unchanged at 1.27 Percent
During the fourth quarter, the Deposit Insurance Fund (DIF) balance increased by
$1.2 billion to $123.1 billion. Assessment income of $2 billion drove the fund balance
increase. Interest earned on investments of $197 million and other miscellaneous income of
$47 million also added to the fund balance. Operating expenses of $475 million, provisions
for insurance losses of $8 million, and unrealized losses on available-for-sale securities of
$536 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—rose by 2.8 percent in the fourth quarter and 9.5 percent over 12 months.1,2
Total estimated insured deposits increased by 1.6 percent in the fourth quarter of 2021
and by 6.6 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, 2021, unchanged from the previous
quarter and 2 basis points lower than the previous year. The 12-month decline in the
reserve ratio was entirely the result of continued elevated insured deposit growth.
The Federal Deposit Insurance Act (the FDI Act) requires a minimum reserve ratio for
the DIF of 1.35 percent. If the reserve ratio falls below 1.35 percent, the FDIC has eight
years to return the reserve ratio to 1.35 percent. During the first half of 2020, due solely
to extraordinary insured deposit growth, the reserve ratio dropped to 1.30 percent as of
June 30, 2020. Because the reserve ratio fell below its statutory required minimum, the
FDIC Board adopted a Fund Restoration Plan in September 2020 and has been providing
semiannual updates to its analysis and projections.3
Author:
Charles James
Economic Analyst
Division of Insurance and Research
1 There

are additional adjustments to the assessment base for banker’s banks and custodial banks.
for estimated insured deposits and the assessment base include insured branches of foreign banks, in addition
to insured commercial banks and savings institutions.
3 See https://www.fdic.gov/news/board-matters/2020/2020-09-15-notice-dis-a-fr.pdf.
2 Figures

FDIC QUARTERLY 23

2022 • Volume 16 • Number 1
Table I-C. Insurance Fund Balances and Selected Indicators
Deposit Insurance Fund*
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

3rd
Quarter
2019

2nd
Quarter
2019

1st
Quarter
2019

4th
Quarter
2018

$121,935

$120,547

$119,362

$117,897

$116,434

$114,651

$113,206

$110,347

$108,940

$107,446

$104,870

$102,609

$100,204

1,967

1,662

1,589

1,862

1,884

2,047

1,790

1,372

1,272

1,111

1,187

1,369

1,351

197

221

251

284

330

392

454

507

531

544

535

507

481

0
475

0
448

0
466

0
454

0
470

0
451

0
465

0
460

0
460

0
443

0
459

0
434

0
453

8

-53

-42

-57

-48

-74

-47

12

-88

-192

-610

-396

-236

61

65

2

1

9

5

2

2

21

4

9

2

2

-536
1,206

-165
1,388

-233
1,185

-285
1,465

-338
1,463

-284
1,783

-383
1,445

1,450
2,859

-45
1,407

86
1,494

694
2,576

421
2,261

788
2,405

123,141

121,935

120,547

119,362

117,897

116,434

114,651

113,206

110,347

108,940

107,446

104,870

102,609

4.45

4.72

5.14

5.44

6.84

6.88

6.71

7.95

7.54

8.72

10.10

10.31

10.63

1.27

1.27

1.27

1.25

1.29

1.30

1.30

1.38

1.41

1.41

1.40

1.36

1.36

9,729,408

9,580,694

9,490,290

9,513,987

9,123,046

8,924,313

8,839,109

8,181,190

7,824,835

7,744,445

7,695,179

7,699,035

7,522,972

6.65

7.35

7.37

16.29

16.59

15.24

14.87

6.26

4.01

4.95

4.62

4.95

5.11

Domestic Deposits
Percent change from
   four quarters earlier

18,236,831

17,676,691

Assessment Base***
Percent change from
   four quarters earlier

20,572,345

(dollar figures in millions)
Beginning Fund Balance
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
Ending Fund Balance
Percent change from
   four quarters earlier
Reserve Ratio (%)
Estimated Insured
Deposits
Percent change from
   four quarters earlier

11.62

Number of Institutions
Reporting

17,203,234 16,980,316 16,339,026

12.47

10.53

20,016,875 19,671,622

18.31

`

15,716,702 15,563,637 14,351,881 13,262,843 13,020,253

23.19

19,197,834 18,792,904

20.71

21.70

12.78

18,453,702 18,153,259 16,484,340

12/18

3/19

1.40

6/19

4.14

3.41

4.37

8.47

8.36

16.46

16.31

16.02

15.74

5.93

4.56

4.44

3.77

3.27

3.01

4,848

4,923

4,960

4,987

5,011

5,042

5,075

5,125

5,186

5,267

5,312

5,371

5,415

Deposit Insurance Fund Balance
and Insured Deposits
($ Millions)

Percent of Insured Deposits
1.36

5.27

16,157,322 15,905,145 15,684,001 15,561,782 15,452,139

9.47

DIF Reserve Ratios
1.36

4.77

12,788,773 12,725,363 12,659,406

1.41

1.41

9/19 12/19

1.38

3/20

1.30

6/20

1.30

1.29

9/20 12/20

1.25

3/21

1.27

6/21

1.27

DIF
Balance

1.27
12/18
3/19
6/19
9/19
12/19
3/20
6/20
9/20
12/20
3/21
6/21
9/21
12/21

9/21 12/21

$102,609
104,870
107,446
108,940
110,347
113,206
114,651
116,434
117,897
119,362
120,547
121,935
123,141

DIF-Insured
Deposits
$7,522,972
7,699,035
7,695,179
7,744,445
7,824,835
8,181,190
8,839,109
8,924,313
9,123,046
9,513,987
9,490,290
9,580,694
9,729,408

Table II-C. Problem Institutions and Failed Institutions
(dollar figures in millions)

2021

2020

2019

2018

2017

2016

2015

Problem Institutions
Number of institutions
Total assets****

44
$170,172

56
$55,830

51
$46,190

60
$48,481

95
$13,939

123
$27,624

183
$46,780

Failed Institutions
Number of institutions
Total assets*****

0
$0

4
$455

4
$209

0
$0

8
$5,082

5
$277

8
$6,706

* 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.

24 FDIC QUARTERLY

QUARTERLY BANKING PROFILE
Table III-C. Estimated FDIC-Insured Deposits by Type of Institution
(dollar figures in millions)
December 31, 2021

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

Total Commercial Banks and Savings Institutions
Other FDIC-Insured Institutions
U.S. Branches of Foreign Banks
Total FDIC-Insured Institutions

Number of
Institutions

Total
Assets

Domestic
Deposits*

Est. Insured
Deposits

4,231
2,816
747
668

$22,195,229
3,932,790
14,740,620
3,521,819

$16,898,323
3,302,489
10,946,478
2,649,357

$8,725,493
1,902,112
5,636,046
1,187,335

608
266
306
36

1,524,087
626,717
403,659
493,711

1,290,891
509,526
322,665
458,700

966,039
409,771
239,574
316,695

4,839

23,719,316

18,189,214

9,691,532

9

119,748

47,617

37,875

4,848

23,839,064

18,236,831

9,729,408

* 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, 2021 (dollar figures in billions)
Annual Rate in Basis Points*

Number of
Institutions

Percent of Total
Institutions

Amount of
Assessment Base

Percent of Total
Assessment Base

1.50 - 3.00

2,934

59.6

$8,370.2

41.82

3.01 - 6.00

1,441

29.3

10,991.0

54.91

6.01 - 10.00

459

9.3

555.4

2.77

10.01 - 15.00

35

0.7

85.4

0.43

15.01 - 20.00

53

1.1

14.7

0.07

20.01 - 25.00

1

0.0

0.2

0.00

>25.00

0

0.0

0.0

0.00

* Beginning in the second quarter of 2011, the assessment base was changed to average consolidated total assets minus tangible equity, as required by the Dodd-Frank Act.

FDIC QUARTERLY 25

2022 • Volume 16 • 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/communitybanking/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 offices, banks must have

26 FDIC QUARTERLY

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
— Foreign Assets ≥ 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 threshold 2
— 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-

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
4 Maximum

number of offices indexed to equal 40 in 1985 and 87 in 2016.

branch deposit size indexed to equal $1.25 billion in 1985 and
$6.97 billion in 2016.

QUARTERLY BANKING PROFILE

insured deposits, as well as assessment rate information. Depository
institutions that are not insured 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 doublecounting of subsidiary data. Additionally, c
­ ertain 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 f­ ilers began filing Call Reports
effective with the quarter e
­ nding 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-of-period amount plus endof-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 year-to-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.

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 period-to-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/
fil22003.html
https://www.fdic.gov/regulations/resources/call/call.html
Further information on changes in financial statement
presentation, income recognition and disclosure is a
­ vailable
from the FASB. http://www.fasb.org/jsp/FASB/Page/
LandingPage&cid=1175805317350.

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 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.
While risk categories for small institutions (except new
institutions) were eliminated effective July 1, 2016, initial rates for
small institutions are subject to minimums and maximums based
on an institution’s CAMELS composite rating. (Risk categories for
large institutions were eliminated in 2011.)
The current assessment rate schedule became effective July 1, 2016.
Under the current schedule, initial base assessment rates range
from 3 to 30 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

FDIC QUARTERLY 27

2022 • Volume 16 • Number 1

by up to 5 basis points for unsecured debt. The unsecured debt
adjustment cannot exceed the lesser of 5 basis points or 50 percent
of an institution’s initial base assessment rate (IBAR). Thus, for
example, an institution with an IBAR of 3 basis points would have
a maximum unsecured debt adjustment of 1.5 basis points and
could not have a total base assessment rate lower than 1.5 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 July 1, 2016, is shown in the
following table:
Total Base Assessment Rates*

Established Small Banks
1 or 2

3

4 or 5

Large and
Highly
Complex
Institutions**

Initial Base
Assessment Rate

3 to 16

6 to 30

16 to 30

3 to 30

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

1.5 to 16

3 to 30

11 to 30

1.5 to 40

CAMELS Composite

* 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.
** Effective July 1, 2016, large institutions are also subject to temporary assessment
surcharges in order to raise the reserve ratio from 1.15 percent to 1.35 percent. The
surcharges amount to 4.5 basis points of a large institution’s assessment base (after making
certain adjustments).

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-publiclytraded 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

28 FDIC QUARTERLY

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, 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 e
­ ligible 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 c
­ redit
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

QUARTERLY BANKING PROFILE

(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.

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

­ alance sheet—including trading assets and liabilities, availableb
for-sale securities, loans held for sale, assets and l­ iabilities
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

­ ervicing rights, purchased credit card relationships, and other
s
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.

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 sellerprovided 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 enter­
prises. 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 v
­ aluation 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.

FDIC QUARTERLY 29

2022 • Volume 16 • 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-­balancesheet 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-tomaturity” (reported at amortized cost (book value)), securities
designated as “available-for-sale” (reported at fair (market)
value), and equity s
­ ecurities 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.

30 FDIC QUARTERLY

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 pass-through 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.

CONSUMER LENDING THROUGH THE PANDEMIC AND THE RECOVERY
Introduction

	
The U.S. economy and households entered the recession that started in 2020 in a strong

Consumer Sector
Overview

The pandemic quickly pushed the economy into a recession and more than 20 million
people lost their jobs in two months. Many businesses shut down as state and local
governments issued stay-at-home orders and directed businesses to close. Many people
remained at home to slow the spread of COVID-19, resulting in a sharp slowdown in
economic activity. The unemployment rate rose to 14.7 percent in April 2020, well above
the previous peak unemployment rate of 10.8 percent in 1982 (Chart 1). In May 2020, an
additional 31.5 percent of the labor force could not work because of closures or lost business
related to the COVID-19 pandemic.1 Aggregate monthly personal income dipped $33 billion
in March 2020 (almost 2 percent from February 2020, about four times the average monthly
personal income change). The negative trends were short-lived, however, as businesses
reopened quickly and fiscal support boosted income.

position. Before the pandemic, the unemployment rate was at the lowest level since the
1970s and household wealth was at its highest level since data were first collected in 1945.
Household balance sheets had been improving for years before the pandemic and debt
burdens were historically low. This strong starting position helped households weather the
income disruptions that occurred due to the pandemic.

Government support programs bolstered income in the months following the start of the
recession through the largest and fastest economic contraction on record (Chart 2). Direct
transfers and enhanced unemployment insurance payments pushed monthly personal
income to a record high in April 2020, about $150 billion higher than monthly personal
income before the pandemic. In the context of the severe recession and substantial job loss,
this record-setting personal income and its full-year increase in 2020 compared with 2019
reflects the magnitude of the federal government’s pandemic-related support to the U.S.
economy. Personal income spiked again in January 2021 and March 2021 when additional
rounds of direct payments were made.

Chart 1
Unemployment Spiked at the Onset of the Pandemic
Official Unemployment Rate (U-3)
Unemployed + Marginally Attached +
Part Time for Economic Reasons (U-6)
Unable to Work Due to COVID-19
Business Closure

Share of Labor Force
(Percent)

35
30
25

Previous U-6 Peak (Dec 2009)

20
15

Previous U-3 Peak (Nov 1982)

10
5
0
Jan 2019

May 2019

Sep 2019

Jan 2020

May 2020

Sep 2020

Jan 2021

May 2021

Sep 2021

Source: Bureau of Labor Statistics (Haver Analytics).
Note: Data are monthly through December 2021. The U-3 unemployment measure is available from January 1948 to December 2021.
The U-6 unemployment measure is available from January 1994 to December 2021. Shaded area indicates recession.

1 In May 2020, the Bureau of Labor Statistics added questions to the Current Population Survey about how the
coronavirus pandemic affected work, including the question “At any time in the LAST 4 WEEKS, were you unable
to work because your employer closed or lost business due to the coronavirus pandemic?” The standard measure of
unemployment (U-3) was 13.2 percent in May 2020.

FDIC QUARTERLY 31

2022 • Volume 16 • Number 1

Chart 2
Personal Income Rose During the Pandemic From Government Support
Monthly Dollar Amount
($ Trillions)

Income

Unemployment Insurance

Economic Impact Payments

2.5
2.0
1.5
1.0
0.5
0.0
Jan-2019

Jul-2019

Jan-2020

Jul-2020

Jan-2021

Jul-2021

Source: Bureau of Economic Analysis (Haver Analytics).
Note: Data are monthly through December 2021.

Extensive government support pushed aggregate personal income to record highs in the
months following the onset of the 2020 recession and—coupled with reduced spending
from pandemic-related business closures—led to a high household savings rate. Estimates
place excess savings—savings on top of what would be predicted by the pre-pandemic
trend in household savings—at about $2.5 trillion in early 2021. While household wealth
dipped with the stock market in first quarter 2020, it reached new record highs in every
quarter between second quarter 2020 and fourth quarter 2021 as the stock market recovered
and housing prices rose. Household savings and wealth supported consumer debt payments
throughout the recession and often allowed consumers to keep current on debt service
payments despite challenging economic conditions.

Government Support Programs Expanded During the Pandemic
Several federal programs supported households through the pandemic. The Coronavirus Aid, Relief, and Economic
Security (CARES) Act, passed in March 2020, provided direct economic impact payments for the majority of American
households.a From the end of March through May 2020, the Internal Revenue Service made 159 million of these payments
to qualifying individuals. The federal government also provided two more rounds of economic impact payments in early
2021. Altogether, the Treasury issued almost $800 billion in transfer payments in about 15 months, much higher than the
previous peak in transfer payments in the Great Recession.
The CARES Act also expanded unemployment insurance, both in terms of who was covered by unemployment insurance
and the size of payments. Besides state unemployment insurance payments, the federal government paid $600 per
week in federal unemployment insurance benefits.b The CARES Act also created two new unemployment insurance
programs. The Pandemic Emergency Unemployment Compensation program extended unemployment insurance benefits
to people whose standard state benefits had expired. And the Pandemic Unemployment Assistance program provided
unemployment insurance payments to people who typically aren’t eligible for unemployment insurance, like gig workers,
independent contractors, and the self-employed.
By October 2021, most federal monetary support programs had ended. Most economic impact payments were disbursed
by summer 2021, and enhanced unemployment insurance programs ended in September 2021. The last major fiscal cash
transfer program related to COVID-19 in effect at the end of 2021 was the expansion of the Child Tax Credit. The American
Rescue Plan expanded the Child Tax Credit and changed a tax refund to disbursing half of the money as monthly payments.

a CARES

Act economic impact payments were up to $1,200 per adult and $500 per child under 17 years old for individuals who made less than $99,000 per year and
joint filers who made less than $198,000 per year.
b These additional payments were later reduced to $300 per week, but remained in effect through September 2021.

32 FDIC QUARTERLY

CONSUMER LENDING THROUGH THE PANDEMIC AND THE RECOVERY

The unprecedented government transfers, coupled with changes in consumer spending
and saving behaviors, led to a change in consumer lending trends. Consumer loan volumes
declined in 2020 and remained below pre-pandemic levels through third quarter 2021. And
unlike in previous recessions, loan performance generally improved through the recession.
Households used the government support partly to pay down debt and increase savings,
both decreasing their reliance on consumer credit for spending and improving repayment
rates on existing loans. The Census Bureau’s Household Pulse Survey provides further
information about consumers’ use of the increased income from government transfers.
The survey asked respondents how they used the economic impact payments they received.
While only 11 percent of households used the first economic impact payment to “mostly pay
down debt” in summer 2020, that figure increased to about 50 percent for the second and
third payments, received in early 2021.2 Many households also saved part of their economic
impact payments, which may have made them more able to pay debts in future months.

Overview of
Consumer Lending
at Banks

In aggregate, banks held $1.9 trillion in consumer loans in fourth quarter 2021 (Chart 3).
Consumer loans are defined as loans to individuals that are not backed by real estate. The
category includes credit card loans, auto loans, and other consumer loans. On average,
consumer loans are not a large part of bank portfolios, just 7.9 percent of bank assets
overall. Consumer loans are also a relatively small share of community bank portfolios,
totaling $66 billion in fourth quarter 2021.3 However, for lenders that specialize in
consumer lending, trends in the consumer landscape are of great importance.

Chart 3
Credit Card Loans Comprise About Half of Consumer Loans;
Auto Loans and Other Consumer Loans Comprise the Rest
Loans Outstanding
($ Trillions)

Credit Card Loans

Auto Loans

Other Consumer Loans

2.0
1.8
1.6
1.4
1.2
1.0
0.8
0.6
0.4
0.2

0.0
Mar-2019

Sep-2019

Mar-2020

Sep-2020

Mar-2021

Sep-2021

Source: FDIC.
Note: Data are quarterly through fourth quarter 2021.

Noncommunity banks are the main consumer lenders. While noncommunity banks
represent 88 percent of total banking industry assets, they hold a disproportionally higher
share of consumer loans: 97 percent of the industry total (Chart 4). Credit card loans are
particularly concentrated in noncommunity banks. Noncommunity banks also hold a higher
proportion of their assets as consumer loans. Consumer loans, on average, are 10.3 percent of
assets at noncommunity banks and only 2.8 percent of assets at community banks (Table).4

2 The

response options in the survey were “mostly spend it,” “mostly save it,” or “mostly use it to pay off debt.” See
Phase 3 COVID-19 Household Pulse Survey for an example of the survey questionnaire.
3 Community

banks are defined using the criteria in the FDIC 2012 Community Banking Study and FDIC 2020 Community
Banking Study. The definition encompasses small banks and larger banks that focus on traditional lending and deposittaking activities. See https://www.fdic.gov/resources/community-banking/report/2012/2012-cbi-study-full.pdf and
https://www.fdic.gov/resources/community-banking/report/2020/2020-cbi-study-full.pdf for more information.
Noncommunity banks are all other banks.
4 The

larger share of assets of consumer loans at noncommunity banks is partly driven by the credit card specialist
banks, where consumer loans are 76.4 percent of assets. Excluding the 11 credit card specialist banks, consumer loans
are 8.7 percent of assets at noncommunity banks.

FDIC QUARTERLY 33

2022 • Volume 16 • Number 1

Banks implemented or expanded forbearance programs for their customers in spring and
summer 2020, which helped to support loan performance. These forbearance programs
for consumer loans were not mandated by the CARES Act, but bank supervisors released
guidance in March 2020 encouraging banks to work prudently with customers affected by
COVID-19 and stating that they view loan modification programs as positive actions that
can mitigate adverse effects on borrowers during the pandemic.5 Supervisors clarified that
borrowers who received forbearance should generally be considered current on their loans
if they met the terms of the forbearance; this may have contributed to lower delinquency
rates on consumer loans during 2020 and 2021.

Chart 4
Noncommunity Banks Hold a Disproportionately Larger Share of Consumer Loans
Than Their Share of Total Banking Industry Assets
Share Held by Noncommunity Banks
(Percent)

100
90
80
70
60
50
40
30
20
10
0

88%

85%

Assets

Loans

Source: FDIC.
Note: Data are as of fourth quarter 2021.

97%

95%

Total
Consumer
Loans

Auto Loans

100%

Credit Card
Loans

93%

Other
Consumer
Loans

Table
Consumer Loans Are a Larger Share of Assets at Noncommunity Banks Than Community Banks
Loan Type
Consumer Loans
Credit Card Loans
Auto Loans
Other Consumer Loans

Community Banks

Noncommunity Banks

2.8%
0.1%
1.3%
1.4%

10.3%
5.4%
2.6%
2.2%

Source: FDIC.
Note: Data are average share of assets from first quarter 2011 through fourth quarter 2019.

The outlook for overall consumer loan performance is strong. In aggregate, household
balance sheets have remained relatively healthy through the recession, and labor
markets improved even as federal support for households began to wane. Households
have generally not taken on more consumer debt through the recession and recovery,
and banks have generally tightened underwriting standards. However, if the pandemic
worsens and businesses shut down again, households may lose income and have trouble
repaying their debt. The next sections discuss the three types of consumer lending
in detail.

5 See, for example, https://www.fdic.gov/news/press-releases/2020/pr20030b.pdf and https://www.fdic.gov/news/pressreleases/2020/pr20038a.pdf.

34 FDIC QUARTERLY

CONSUMER LENDING THROUGH THE PANDEMIC AND THE RECOVERY

Nonbank Lenders in the Consumer Lending Space
Nonbank lenders hold most consumer loans, primarily due to large holdings of federal student loans. The Federal Reserve
Bank of New York publishes quarterly reports on consumer debt based on their Consumer Credit Panel database, which
uses anonymous credit bureau data to study consumer debt. The quarterly report does not distinguish between bank
and nonbank debt, but by combining their data with bank Consolidated Reports of Condition and Income (Call Report)
data, we can estimate the shares of loans held by nonbanks. Nonbanks include credit unions, auto finance companies,
fintech lenders, other private lenders, and the federal government.a Nonbank lenders held 57 percent of consumer loans
outstanding as of fourth quarter 2021. However, excluding federally owned student loans, nonbank lenders hold only
31 percent of consumer loans outstanding (Chart 5).b Nonbank lenders hold almost no credit card loans, but they hold the
majority of auto loans and other consumer loans.c

Chart 5
Banks Hold the Majority of Credit Card Loans but Nonbanks Hold the Majority of
Auto and Other Consumer Loans
Loans Outstanding
($ Trillions)

Bank Share of Loans: 43 percent
Bank Share Excluding
Federal Student Loans: 69 percent

Bank
Nonbank

3.0
2.5
2.0
1.5
1.0
0.5
0.0

Total Consumer Loans

Credit Card Loans

Auto Loans

Other Consumer Loans

Sources: FDIC, Federal Reserve Bank of New York (Haver Analytics).
Note: Data are as of fourth quarter 2021.

a Most

consumer loans held by the federal government are U.S. Department of Education student loans.
Consumer Credit Panel does not separately identify federal student loans and private student loans. Data on outstanding federal student loans come from
the National Student Loan Data System. See https://studentaid.gov/data-center/student/portfolio.
c Credit unions hold about 20 percent of outstanding auto loans. In this section, credit unions are considered nonbank lenders.
b The

Credit Cards

The credit card market is dominated by a few large noncommunity banks. The ten largest
credit card lenders—all noncommunity banks—held 88 percent of outstanding credit
card loans in fourth quarter 2021, while community banks held less than 1 percent of
outstanding credit card loans.
Credit card loan volumes declined during the pandemic (Chart 6). Aggregate credit card
loan volume in first quarter 2021 was the lowest since 2017, down 19 percent from the
pre-pandemic peak in fourth quarter 2019. In third and fourth quarters 2021, credit card
loans grew year over year, but in fourth quarter 2021 loan balances remained down about
7 percent compared with fourth quarter 2019.

FDIC QUARTERLY 35

2022 • Volume 16 • Number 1

Chart 6
Credit Card Loan Balances Fell in 2020 and the First Half of 2021
Loans Outstanding
($ Billions)

Top Ten Banks

Other Noncommunity Banks

Community Banks

1,000
900
800
700
600
500
400
300
200
100
0

Mar-2019

Sep-2019

Mar-2020

Sep-2020

Mar-2021

Sep-2021

Source: FDIC.
Note: Data are quarterly through fourth quarter 2021.

Aggregate credit card balances fell in 2020 because households changed their spending
habits, often in ways that are not typical during recessions. Credit card balances rose
during the previous two recessions. In the pandemic recession, households cut back on
spending as lockdowns and business closures were implemented across the country, which
lowered credit card balances. Households cut back more than average on services spending,
particularly for those services that involve in-person interaction, such as restaurants,
hotels, travel, and medical care. Goods spending recovered quickly after it fell in March and
April 2020, but services spending recovered more slowly. These changes meant that overall
spending did not surpass pre-pandemic levels until first quarter 2021. And the government
transfer payments enabled many households to pay down existing credit card balances,
which also reduced aggregate outstanding credit card loans.
Banks tightened lending standards in 2020, which also contributed to lower credit card
loan balances. In second quarter 2020, on net, more than 70 percent of all banks tightened
lending standards for credit card loans, according to the Federal Reserve’s Senior Loan
Officer Opinion Survey (SLOOS). The survey covers about 80 of the largest U.S. banks, which
is especially useful for credit cards because most credit card loans come from large banks.
Banks tightened lending standards again in third quarter 2020, and then began loosening
standards as the economy recovered. On net, banks loosened underwriting standards for
credit cards in every quarter of 2021, but they remained relatively tight. In the first quarter
2021 SLOOS report, banks were asked to compare their current underwriting standards to
pre-pandemic levels. The underwriting standards for credit card loans at a meaningful
share majority of banks were still tighter than before the pandemic.
Credit card loan performance generally improved as consumers cut back on credit card
spending and paid down credit card balances with federal transfers. The share of credit
card loans that were noncurrent—90 days or more past due but still accruing interest—and
loans in nonaccrual status decreased 22 percent from fourth quarter 2019 to fourth quarter
2020 and decreased another 21 percent by fourth quarter 2021 (Chart 7). And the net chargeoff rate for credit card loans for the banking industry was near its historic low in fourth
quarter 2021. In contrast, the share of credit card loans that were noncurrent rose from
fourth quarter 2007, at the start of the Great Recession, through first quarter 2010, after the
end of the Great Recession.

36 FDIC QUARTERLY

CONSUMER LENDING THROUGH THE PANDEMIC AND THE RECOVERY

Chart 7
The Noncurrent Rate on Credit Card Loans Was Lower at Community Banks
Than at Noncommunity Banks
Share of Loans That Are Noncurrent
(Percent)

Noncommunity Banks

Community Banks

8
7
6
5
4
3
2
1
0

2001

2003

2005

2007

2009

2011

2013

2015

2017

2019

2021

Source: FDIC.
Note: Noncurrent loans are loans that are 90 days or more delinquent or in nonaccrual status. Data are quarterly through fourth quarter 2021.
Shaded areas indicate recession.

Auto Loans

The auto lending market is split between banks, credit unions, and other auto finance
companies. Banks and captive finance companies each hold about 30 percent of the auto
loan market, credit unions hold about 18 percent, and other lenders hold the remaining
amount, according to Experian.6 In the banking industry, a few banks hold the majority
of outstanding auto loans, but most banks (87.5 percent) have some auto loans on their
balance sheets. The ten largest bank auto lenders hold almost 75 percent of outstanding
bank auto loans (Chart 8).
Auto lending by banks and nonbanks declined during the start of the pandemic but
recovered quickly. Auto lending declined for a few months in first and second quarter 2020
as many dealerships closed in-person sales facilities. However, auto loan volumes recovered
more quickly than in previous recessions because of higher demand and low interest rates. A
factor contributing to increased demand for auto loans may have been people who previously
did not own a car but felt uncomfortable using public transportation during a pandemic.

Chart 8
The Ten Largest Auto Lending Banks Held Three-Quarters of Auto Loans
in the Banking Sector
Loans Outstanding
($ Billions)

Top Ten Banks

Other Noncommunity Banks

Community Banks

600
500
400
300
200
100
0

Mar-2019

Sep-2019

Mar-2020

Sep-2020

Mar-2021

Sep-2021

Source: FDIC.
Note: Data are quarterly through fourth quarter 2021.

6A

captive finance company is a wholly owned subsidiary of an auto manufacturer that provides loans for purchases of
their own vehicles.

FDIC QUARTERLY 37

2022 • Volume 16 • Number 1

Auto loan balances in the banking industry fell slightly from $487 billion in first quarter
2020 to $486 billion in second quarter 2020, but exceeded pre-pandemic levels by third
quarter 2020. In fourth quarter 2021, auto loan balances were about 11 percent above their
pre-pandemic level. In past recessions, auto loan volumes recovered much more slowly.
While data on auto loans in the banking industry are not available for previous recessions,
data on auto sales may serve as a proxy for bank auto-lending patterns. After the Great
Recession, the number of cars sold did not surpass pre-recession levels until 2014, almost
seven years after the previous peak.7
During the recession, banks tightened lending standards for auto loans, especially for
subprime borrowers. In second quarter 2020, about half of all banks tightened lending
standards for auto loans, according to the SLOOS. Banks loosened underwriting standards
over the subsequent quarters, especially for prime borrowers. In a special question in first
quarter 2021, banks were asked to compare their underwriting standards to pre-pandemic
underwriting standards. Responses showed that the standards at more than a quarter of
banks were tighter than before the pandemic for subprime and near-prime borrowers,
and the standards at 11 percent of banks were tighter than before the pandemic for prime
borrowers. Tighter standards tend to improve the quality of loan portfolios and decrease
delinquencies.
Auto loan performance improved in 2020 and 2021. The share of auto loans at banks that
were noncurrent increased in the first half of 2020 before improving through 2021 (Chart 9).
The share of bank auto loans in early delinquency—loans that were 30 to 89 days past due—
fell almost 50 percent from first quarter 2020 to first quarter 2021. Early delinquencies
rose in 2021 but remained well below pre-pandemic levels in fourth quarter 2021. Unlike
pre-pandemic trends, auto loan performance was somewhat better at community banks
than noncommunity banks.8 While auto loan data were not reported separately before
2011, loan performance data for auto and other consumer loans combined are available.
Loan performance for these non-credit-card consumer loans began deteriorating in fourth
quarter 2007 at the start of the Great Recession and worsened through first quarter 2010,
after the end of the recession.

Chart 9
Auto Loan Performance Was Better at Community Banks Than at
Noncommunity Banks in 2020 and 2021
Share of Loans That Are Noncurrent
(Percent)

Noncommunity Bank Auto Loans

4.0

Community Bank Auto Loans

3.5

Noncommunity Bank
Non-Credit-Card Consumer Loans

3.0

Community Bank
Non-Credit-Card Consumer Loans

2.5
2.0
1.5
1.0
0.5
0.0
2001

2003

2005

2007

2009

2011

2013

2015

2017

2019

2021

Source: FDIC.
Note: Noncurrent loans are loans that are 90 days or more delinquent or in nonaccrual status. Before 2011, data for auto loans are not separately
available, so the dashed lines show noncurrent rates for auto and other consumer loans combined (non-credit-card loans). Data are quarterly
through fourth quarter 2021. Shaded areas indicate recession.

7 Bureau
8 The

of Economic Analysis.

share of loans that were noncurrent increased at community banks in third and fourth quarter 2021 consistent with
the seasonal nature of auto loan noncurrent rates.

38 FDIC QUARTERLY

CONSUMER LENDING THROUGH THE PANDEMIC AND THE RECOVERY

Other Consumer Loans

Most banks hold other consumer loans on their balance sheets. Other consumer loans
include revolving, single payment, or installment loans made to an individual that are not
credit card or auto loans. This loan category is mostly composed of unsecured personal
loans and private student loans. The ten largest bank lenders for other consumer loans
hold about half of other consumer loans in the banking system, while community banks
hold about 9 percent of the other consumer loans in the banking system. Most banks
(96 percent) hold some other consumer loans on their balance sheets.
Balances of other consumer loans were flat after the start of the pandemic recession but
began growing again in third quarter 2020 (Chart 10). Balances of other consumer loans
continued to rise through the end of 2020 and in 2021. In fourth quarter 2021, the balance of
other consumer loans was $473 billion, 14.8 percent higher than the pre-pandemic level.
Just as for auto and credit card loans, banks tightened lending standards for other
consumer loans in second and third quarter 2020. On net, 61 percent of banks tightened
lending standards in second quarter 2020, and 16 percent tightened in third quarter 2020,
according to the SLOOS. Starting in fourth quarter 2020, banks loosened standards on other
consumer loans in every quarter thereafter through fourth quarter 2021. Although banks
have loosened underwriting standards on other consumer loans, the standards are still
relatively tight. In the July 2021 SLOOS report, banks reported that underwriting standards
for other consumer loans were somewhat tighter compared with their historical range from
2005 to the present.

Chart 10
Other Consumer Loan Balances Continued to Grow in 2020 and 2021
Loans Outstanding
($ Billions)

Top Ten Banks

Other Noncommunity Banks

Community Banks

500
450
400
350
300
250
200
150
100
50
0

Mar-2019

Sep-2019

Mar-2020

Sep-2020

Mar-2021

Sep-2021

Source: FDIC.
Note: Data are quarterly through fourth quarter 2021.

Loan performance for other consumer loans improved throughout the pandemic.
Forbearance programs and changing consumer spending and savings behavior may
have kept delinquencies low. The other consumer loan noncurrent rate fell 20 percent
between the first and second quarter of 2020 but followed its typical seasonal pattern of
rising through the end of the year (Chart 11).9 The noncurrent rate improved further in
2021, and in fourth quarter 2021 the noncurrent rate was still down 20 percent from the
fourth quarter 2019 level. In contrast, other non-credit-card consumer loan performance
worsened during the last recession. Before 2011, auto loans were included in this category,
so direct comparisons of loan performance during the Great Recession are not possible, but
the share of non-credit-card consumer loans that were noncurrent began rising in fourth
quarter 2007 at the start of the Great Recession. The noncurrent rate for this loan category
continued to rise through fourth quarter 2011, after the end of the Great Recession.

9 The

noncurrent rate for combined bank and nonbank other consumer loans spiked down in second quarter 2020
because of federally owned student loans. See the inset box on page 35 for more details on federal student loans.

FDIC QUARTERLY 39

2022 • Volume 16 • Number 1

Chart 11
Other Consumer Loan Performance Improved at Community and
Noncommunity Banks in 2020 and 2021
Share of Loans That Are Noncurrent
(Percent)

3.0
2.5
2.0

Noncommunity Bank Other Consumer Loans
Community Bank Other Consumer Loans

Noncommunity Bank
Non-Credit-Card Consumer Loans
Community Bank
Non-Credit-Card Consumer Loans

1.5
1.0
0.5
0.0
2001

2003

2005

2007

2009

2011

2013

2015

2017

2019

2021

Source: FDIC.
Note: Noncurrent loans are loans that are 90 days or more delinquent or in nonaccrual status. Before 2011, data for other consumer loans are not
separately available, so the dashed lines show noncurrent rates for auto and other consumer loans combined (non-credit-card loans). Data are
quarterly through fourth quarter 2021. Shaded areas indicate recession.

Conclusion

In contrast with trends in previous recessions, consumer lending continued during the
pandemic and consumer loan performance remained strong, helped by government
programs that supported individual incomes and forbearance programs. The economic
recovery helped support consumer financial conditions even as these programs ended.
In aggregate, household balance sheets are healthy and labor markets are strong. Despite
record job losses, households have generally not taken on more consumer debt through the
recession and recovery. Furthermore, banks tightened lending standards in the uncertain
economic environment. While the outlook for consumer loan performance is strong, it
remains dependent on pandemic conditions. If the pandemic worsens and causes more
business shutdowns and reduced economic activity, household income may decline and
consumer loan performance may deteriorate.

	Author:
Kathryn Fritzdixon
Senior Financial Economist
Division of Insurance and Research

40 FDIC QUARTERLY

2021 SUMMARY OF DEPOSITS HIGHLIGHTS
Introduction	
The 2021 Summary of Deposits (SOD) Survey responses reflect the continued effects of the

COVID-19 pandemic and funding from government stimulus programs, changing spending
patterns, and the availability and use of electronic banking applications on deposit and
branch levels.1 Total deposits at FDIC-insured institutions increased 10.7 percent during the
most recent SOD reporting period (year ending June 30, 2021), down from the year-earlier
rate, which was the highest growth rate on record since the 1940s.2 However, deposit
growth was up from the pre-pandemic levels reported in 2019. Deposit growth rates were
higher for community banks than for noncommunity banks on a merger-adjusted basis
during the year ending June 30, 2021.3
Along with elevated deposit growth, the 2021 SOD survey responses reflect a record rate
of decline in the number of branches. The number of branches of FDIC-insured depository
institutions continued to decline across all census categories—metropolitan, micropolitan,
and rural areas—with closures of noncommunity bank branches occurring at a rate higher
than closures of community bank branches.

Total Deposits Continued
to Grow at More Than
Double the Pre-Pandemic
Growth Rate

Total deposits increased 10.7 percent, from $15.5 trillion to $17.2 trillion, during the 2021
SOD reporting period. While this growth rate is less than half the extraordinarily high
growth rate reported in 2020, deposit growth was more than twice as high as it was before
the beginning of the pandemic (Chart 1). The growth was widespread: deposits increased
at community banks and noncommunity banks, banks in all SOD asset size groups, banks
in all but one lending specialization (credit card lending), and banks across all census
categories.4
Noncommunity banks, which hold a high share of the banking industry’s total deposits,
nearly matched the industry’s total deposit growth rate, while the deposit growth rate for
community banks exceeded that of noncommunity banks. The merger-adjusted deposit
growth rate of 10.3 percent for noncommunity banks was twice as high as the rate reported
in 2019 but less than half the growth rate reported in 2020 (Table 1). Deposit growth at
community banks in the year ending June 30, 2021, remained elevated at 13.5 percent but
was down slightly from the 16.6 percent growth rate on a merger-adjusted basis reported in
the year ending June 30, 2020.

1 “Deposits”

refers to deposits in branches of FDIC-insured institutions in the United States, U.S. territories, and U.S.
possessions. U.S. branches of foreign institutions and their deposits are not included.
2 The

FDIC’s 2020 Annual Report shows growth in domestic deposits of 26.2 percent in 1942, 24.2 percent in 1943, and
46 percent in 1989, all of which are higher than the 21.7 percent deposit growth reported in the 2020 SOD survey. The
high growth in 1989 is because 1989 was the first year in which deposits of institutions covered under both the Bank
Insurance Fund and the Savings Association Insurance Fund were included in the domestic deposit totals shown in the
Annual Report. According to FDIC Call Report data, if institutions covered under both the Bank Insurance Fund and
the Savings Association Insurance Fund are included in the sum of total domestic deposits in 1988, deposit growth in
1989 would be much lower at 2.9 percent. Given that growth in domestic deposits in 1989 was driven by this change
in how deposit totals were reported, 1943 is the most recent year in which deposit growth was higher than the 2020
SOD growth. Importantly, the Annual Report shows deposit totals as of December 31 of each year while the SOD survey
reports deposit totals as of June 30 of each year, so year-over-year growth rates calculated based on these two sources
would be close but not identical. See FDIC Annual Report 2020: 140, https://www.fdic.gov/about/financial-reports/
reports/2020annualreport/2020ar-final.pdf.
3 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. See https://www.fdic.
gov/resources/community-banking/report/2012/2012-cbi-study-full.pdf. Merger adjustment is a way of excluding the
effects of mergers from a growth calculation in order to measure the “organic growth” of a cohort of institutions. For
example, in calculating one-year merger-adjusted deposit growth of community banks, deposits of community banks
acquired during the year by noncommunity banks would be excluded from the prior year total for community bank
deposits. For more information see Eric C. Breitenstein and Derek K. Thieme, “Merger Adjusting Bank Data: A Primer,”
FDIC Quarterly 13, no. 1 (2019): 31–49, https://www.fdic.gov/analysis/quarterly-banking-profile/fdic-quarterly/2019vol13-1/fdic-v13n1-4q2018-article.pdf.
4 SOD

bank asset size groups as discussed in this article are banks with assets greater than $250 billion; banks with
assets between $10 billion and $250 billion; banks with assets between $1 billion and $10 billion; and banks with assets
less than $1 billion.

FDIC QUARTERLY 41

2022 • Volume 16 • Number 1

Chart 1
Deposits Continued to Grow in 2021, but the Growth Rate Was Lower Than in 2020
Total Deposits
($ Trillion)

Total Deposits (Left Axis)

Percent Change in Deposits (Right Axis)

Percent

20

20

18
16
14

15

12
10

10

8
6

5

4
2
0

2017

2018

2019

2020

2021

0

Source: FDIC Summary of Deposits, June 30, 2017, to June 30, 2021.

Federal pandemic-related economic assistance programs supported deposit growth at
FDIC-insured institutions during the year ending June 30, 2021. U.S. fiscal and monetary
authorities continued to provide relief to Americans affected by the COVID-19 pandemic
through additional economic impact payments, the Pandemic Emergency Unemployment
Compensation Program, and the U.S. Small Business Administration Paycheck Protection
Program between June 30, 2020, and June 30, 2021. Further, the Federal Reserve maintained
low interest rates and continued to purchase financial instruments, including U.S. Treasury
securities and mortgage-backed securities, to support the flow of credit to U.S. households
and businesses and to promote financial stability throughout 2021.5 This funding, along with
elevated savings rates, contributed to higher deposit balances at FDIC-insured institutions.6

Table 1
Deposit Growth Remained Elevated for Community Banks but Moderated for Noncommunity Banks in 2021
2017
All Banks

5.1

Noncommunity Banks
Community Banks

5.5
2.9

Noncommunity Banks
Community Banks

4.9
6.1

2018

2019

2020

Year-Over-Year Percent Change
3.8
4.2
21.7
Year-Over-Year Percent Change (Not Adjusted for Mergers)
4.3
4.5
23.9
0.9
2.2
8.9
Year-Over-Year Percent Change (Adjusted for Mergers)
3.8
4.0
22.6
4.7
5.4
16.6

2021
10.6
10.4
12.1
10.3
13.5

Source: FDIC Summary of Deposits, June 30, 2017, to June 30, 2021.
Note: Merger-adjusted figures for community banks depict the growth through time of the combined deposits of the June 30, 2021, cohort of community banks and the
deposits of all the institutions they acquired since June 30, 2016; merger-adjusted figures for noncommunity banks are calculated similarly.

5 See Coronavirus Aid, Relief, and Economic Security Act: H.R. 748 Section 2107; Coronavirus Aid, Relief, and Economic
Security Act: H.R. 748 Section 1102; Board of Governors of the Federal Reserve System, “Paycheck Protection Program
Liquidity Facility,” https://www.federalreserve.gov/monetarypolicy/ppplf.htm; U.S. Department of the Treasury, “Fact
Sheet: The American Rescue Plan Will Deliver Immediate Economic Relief to Families,” https://home.treasury.gov/news/
featured-stories/fact-sheet-the-american-rescue-plan-will-deliver-immediate-economic-relief-to-families; Richard
H. Clarida, Burcu Duygan-Bump, and Chiara Scotti, “The COVID-19 Crisis and the Federal Reserve’s Policy Response,”
Federal Reserve, June 3, 2021, https://www.federalreserve.gov/econres/feds/the-covid-19-crisis-and-the-federalreserves-policy-response.htm.
6 Total personal income increased in first quarter 2021, reflecting primarily an increase in government social benefits.
Savings as a percentage of disposable personal income increased between second quarter 2020 and second quarter 2021.
See U.S. Bureau of Economic Analysis, “Personal Income and Outlays, March 2021,” news release no. BEA 21-19, April 30,
2021, https://www.bea.gov/news/2021/personal-income-and-outlays-march-2021.

42 FDIC QUARTERLY

2021 SUMMARY OF DEPOSITS HIGHLIGHTS

The Market Share of
Deposits Held by the
Largest Banks
Continued to Grow

Banks in the largest asset size group (those with assets greater than $250 billion) continued
to hold most of the banking industry’s deposits in the year ending June 30, 2021, despite
year-over-year unadjusted growth rates among the asset size groups being volatile.
Deposit growth was highest among banks with assets of $10 billion to $250 billion: total
deposits for this group of banks increased 13.8 percent during the year ending June 30, 2021.
Deposit growth for the smallest banks (those holding less than $1 billion in total assets)
reversed a four-year declining trend, with a 3.9 percent year-over-year increase in total
deposits. Banks with assets greater than $250 billion saw a mere 9.6 percent increase in
deposits in 2021, up from 2020. This stands in stark contrast to the previous year when the
largest banks saw a 41.2 percent increase.
Total deposits have grown over the past five years for each of the asset size groups in
Table 2 except for the smallest banks (assets less than $1 billion). Deposits increased most
for banks in the greater than $250 billion asset size group—71.7 percent between 2016
and 2021. Banks with assets of less than $1 billion and banks with assets of $1 billion to
$10 billion saw their share of total deposits decrease each year from 2017 through 2021,
in sharp contrast with that of the largest banks. The largest banks continued to hold a
majority share of total deposits in 2020 and 2021.

Table 2
Large Banks Continued to Hold the Highest Share of Total Deposits
Percentage Change in Total Deposits
Not Adjusted for Mergers
2016–2017

2017–2018

2018–2019

2019–2020

2020–2021

2016–2021

4.7
8.5
2.5
–1.4
5.1

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

71.7
50.5
32.9
–5.2
53.0

2020
52.4
30.9
10.5
6.2

2021
51.9
31.8
10.5
5.8

Assets Greater Than $250 Billion
Assets $10 Billion to $250 Billion
Assets $1 Billion to $10 Billion
Assets Less Than $1 Billion
All Banks

Share of Deposits (Percent)
2016
46.2
32.4
12.0
9.4

Assets Greater Than $250 Billion
Assets $10 Billion to $250 Billion
Assets $1 Billion to $10 Billion
Assets Less Than $1 Billion

2017
46.1
33.4
11.7
8.8

2018
45.3
35.5
11.1
8.1

2019
45.2
36.5
10.8
7.6

Source: FDIC Summary of Deposits June 30, 2016, to June 30, 2021.

Deposit Growth Was
Widespread Across
Census Categories

Total deposits increased for branches across all census categories—metropolitan,
micropolitan, and rural (Table 3) in the SOD reporting period ending June 30, 2021.7
Branches in metropolitan areas continued to hold an overwhelming majority of deposits—
nearly 93.4 percent of total deposits. Over the previous five years, the share of total
domestic deposits in metropolitan areas ranged from 92.7 percent in 2016 to a high of
93.5 percent in 2021. Not surprisingly, deposits in metropolitan areas accounted for most of
the increase in domestic deposits.

7 Counties

are labeled metropolitan, micropolitan, or rural depending on whether they are in areas designated by the U.S.
Census Bureau 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.

FDIC QUARTERLY 43

2022 • Volume 16 • Number 1

Among census categories, total deposit growth was lowest in metropolitan areas
(10.8 percent) during the year ending June 30, 2021. But deposit growth in metropolitan
areas during the most recent reporting period was close to double the peak year-over-year
growth (6.2 percent) reported between 2016 and 2019.
Total deposits in micropolitan areas have also grown rapidly since 2020. Increases in total
deposits in micropolitan counties ranged from 2.3 percent to 3.4 percent between 2016 and
2019 year over year, while total deposits in micropolitan counties increased 15.3 percent in
2020 and 12.3 percent in 2021.
In rural areas, the deposit growth rate of 11.3 percent, during the year ending June 30,
2021, was much higher than growth rates reported in previous years, which ranged from
1.4 percent to 3.1 percent between 2016 and 2019. The deposit growth rate in rural areas
was below that of micropolitan areas but higher than that of metropolitan areas during the
most recent SOD reporting period.

Table 3
The Deposit Growth Rate in Micropolitan Counties Rose Most Among Census Areas in 2021
Metropolitan
Micropolitan
Rural
All

Total Domestic Deposits ($ Billions)
Year-Over-Year Percent Change
Total Domestic Deposits ($ Billions)
Year-Over-Year Percent Change
Total Domestic Deposits ($ Billions)
Year-Over-Year Percent Change
Total Domestic Deposits ($ Billions)
Year-Over-Year Percent Change

2016

2017

2018

2019

2020

2021

10,421.2
6.2
470.8
2.6
349.6
1.4
11,241.6
5.9

10,965.4
5.2
486.9
3.4
360.3
3.1
11,812.5
5.1

11,395.9
3.9
498.1
2.3
368.3
2.2
12,262.4
3.8

11,881.6
4.3
511.5
2.7
378.8
2.9
12,771.9
4.2

14,532.2
22.3
589.9
15.3
422.6
11.6
15,544.7
21.7

16,102.8
10.8
662.2
12.3
470.5
11.3
17,235.5
10.9

Source: FDIC Summary of Deposits June 30, 2016, to June 30, 2021.
Note: Data are not adjusted for mergers.

Deposits Increased Across
Banks of All Lending
Specializations Except
Credit Card Banks

Banks in all lending specializations except credit card lending reported an increase
in deposits during the most recent SOD reporting period.8 Banks with a credit card
lending specialization, the pool of which remained unchanged year over year, reported a
4.4 percent decline in total deposits during the year ending June 30, 2021, compared with
a 3.7 percent increase in deposits during the previous reporting period (June 30, 2019 to
June 30, 2020). Despite a decline in growth from the previous year, deposits increased
most—19 percent on a merger-adjusted basis—for banks with a mortgage lending
specialization, followed by banks with a consumer lending specialization (16.4 percent)

8 There

are nine bank lending specializations (these groups are hierarchical and mutually exclusive):
• I nternational—Assets exceed $10 billion and more than 25 percent of assets are in foreign offices.
• Agricultural—Agricultural production loans and real estate loans secured by farmland total more than 25 percent of  
total loans and leases.
• Credit card—Credit card loans and securitized receivables total more than 50 percent of total assets plus securitized
receivables.
• Commercial lending—Commercial and industrial loans, real estate construction and development loans, and loans
secured by commercial real estate total more than 25 percent of total assets.
• Mortgage lending—Residential mortgage loans and mortgage-backed securities total more than 50 percent of total
assets.
• Consumer lending—Residential mortgage loans, credit card loans, and other loans to individuals total more than
50 percent of total assets.
• O ther specialized less than $1 billion—Assets are less than $1 billion. Loans and leases are less than 40 percent of total
assets.
• A ll other less than $1 billion—Assets are less than $1 billion, and the institution does not meet any of the definitions
above. There is significant lending activity with no identified concentrations.
• A ll other greater than $1 billion—Assets are greater than $1 billion, and the institution does not meet any of the
definitions above. There is significant lending activity with no identified concentrations.

44 FDIC QUARTERLY

2021 SUMMARY OF DEPOSITS HIGHLIGHTS

(Table 4). A merger between two depository institutions may affect loan portfolio
composition. As a result, the merged institution may no longer meet the asset
concentration thresholds that define a lending specialization, even if no underlying
change in loan balances or strategies has occurred.

Table 4
Mortgage Lending Specialists Reported the Highest Deposit Growth on a Merger-Adjusted Basis
Year-Over-Year Deposit Growth (Percent) Not Adjusted for Mergers
Lending Specialty
Agricultural
Commercial Lending
Consumer Lending
Credit Card
International
Mortgage Lending
Other < $1 Billion
All Other < $1 Billion
All Other > $1 Billion

2016

2019

2020

2021

4.5
3.8
1.9
1.6
15.1
0.2
4.3
6.3
15.1
26.1
-18.5
3.1
0.6
-3.1
31.5
-4.3
8.3
7.3
1.9
4.4
-6.6
-9.8
-2.2
-0.5
-6.5
-13.2
-19.6
-5.4
-14.8
-6.6
-16.4
-7.7
-3.1
11.7
4.7
3.1
Year-Over-Year Deposit Growth (Percent) Adjusted for Mergers

-3.2
17.5
-40.7
0.0
28.0
92.8
1.0
14.6
25.0

6.1
-0.2
19.9
-4.4
15.1
13.2
79.0
41.9
20.1

2020
6.5
6.9
30.9
3.7
28.0
24.9
79.7
40.8
36.3

2021
12.7
11.1
16.4
-4.4
15.1
19.0
15.4
13.9
8.3

2016
2.8
1.5
33.4
11.5
6.1
-8.1
-12.7
-7.0
12.3

Agricultural
Commercial Lending
Consumer Lending
Credit Card
International
Mortgage Lending
Other < $1 Billion
All Other < $1 Billion
All Other > $1 Billion

2017

2017
1.8
5.1
-16.0
20.6
5.0
1.9
-21.0
-15.2
6.0

2018

2018
2.2
5.0
-0.5
-4.4
4.0
-0.9
-3.4
-7.9
4.0

2019
-12.0
4.1
-50.4
4.7
2.3
49.7
-10.9
3.7
5.4

Source: FDIC Summary of Deposits, June 30, 2016, to June 30, 2021.

Total Number of Branches
Declined at a Record Rate

Branch closures, net of openings, increased 3.7 percent (a net decline of 3,164 branches)
during the year ending June 30, 2021 (Chart 2). This was the highest net percentage
reduction in branches since at least 1987. The net branch closure rate was 1.6 percent
(1,410 net branch closures) during the previous reporting period.9
The historically high rate of branch closures occurred even though the number of banks
reporting branch openings outpaced the number of banks reporting branch closures. Of the
4,940 banks that existed on both June 30, 2020, and June 30, 2021, 485 banks (9.8 percent)
opened branches, 401 banks (8.1 percent) closed branches, and the number of branches
owned by 4,054 banks (82.1 percent) remained unchanged.10

9 Offices

acquired through mergers were closed at a slightly higher rate (6.2 percent) in the year ending June 30, 2021,
compared with 4.6 percent as of the year ending June 30, 2020.
10 The

total number of banks reporting as of June 30, 2021, was 4,951, including ten de novo banks and one bank that sold
most of its assets but retained a deposit insurance certificate.

FDIC QUARTERLY 45

2022 • Volume 16 • Number 1

Chart 2
Branch Closures Increased at a Higher Rate in 2021
Branch Closures (Left Axis)

Number

Percent Change From the Previous Year (Right Axis)

Percent

3,500

4.0

3,000

3.5
3.0

2,500

2.5

2,000

2.0
1,500

1.5

1,000

1.0

500

0.5

0

2017

2018

2019

2020

0.0

2021

Source: FDIC Summary of Deposits, June 30, 2016, to June 30, 2021.

The Number of Branches
per Institution Declined

The number of branches per institution declined in the year ending June 30, 2021, as the
number of FDIC-insured institutions fell from 5,066 to 4,950 and the number of branches
fell from 84,972 to 81,808. An increase in deposits combined with a decrease in the number
of institutions and branches drove increases in both average deposits per institution and
average deposits per branch during the year ending June 30, 2021.
Although the number of branches per institution declined, this measure remains high after
several years of growth (Chart 3). The decline in the number of institutions (18.3 percent)
outpaced the decline in the number of branches (10.9 percent) between June 30, 2016, and
June 30, 2021, resulting in an increase in the average number of branches per institution
from 15.2 branches in 2016 to 16.5 branches in 2021 (Table 5).

Chart 3
2021 Ended a Decades-Long Trend of Increasing Numbers of Branches per Institution
Institutions

Number

120,000

Branches

Branches per Institution

Branches per Institution

18
16

100,000

14

80,000

12
10

60,000

8

40,000

6
4

20,000
0

2
1987

1992

1997

2002

Source: FDIC Summary of Deposits, June 30, 1987, to June 30, 2021.

46 FDIC QUARTERLY

2007

2012

2017

2021

0

2021 SUMMARY OF DEPOSITS HIGHLIGHTS

Table 5
Branches per Institution Declined Slightly in 2021

Year

Number of
Institutions

Number of
Branches

Branches per
Institution

Total Deposits
($ Billions)

Deposits per
Institution
($ Millions)

Deposits per
Branch
($ Thousands)

2017
2018
2019
2020
2021

5,787
5,541
5,303
5,066
4,950

89,839
88,065
86,382
84,972
81,808

15.5
15.9
16.3
16.8
16.5

11,813
12,262
12,772
15,546
17,196

2,041
2,213
2,408
3,069
3,474

131,486
139,242
147,854
182,958
210,202

Source: FDIC Summary of Deposits, June 30, 2017, to June 30, 2021.
Note: Data are not adjusted for mergers.

Branch Closures Continued
to Outpace Branch Openings
in Metropolitan Areas

Among census categories, the number of branch closures was highest in metropolitan areas
on a gross, proportional, and unadjusted basis (Table 6). While both noncommunity and
community banks in all census categories reported net reductions in branches between
2016 and 2021, the largest reduction in the number of branches occurred in metropolitan
areas (11.6 percent). In metropolitan areas, community bank branches closed at a higher
rate (14.2 percent) than noncommunity bank branches (10.6 percent).
In micropolitan areas, the five-year branch closure rate (2016 to 2021) was 9.7 percent.
Unlike the pattern in metropolitan areas, in micropolitan areas, noncommunity
bank branches closed at a rate higher than community bank branches. Branches of
noncommunity banks in micropolitan areas closed at a rate of 11.1 percent, compared with
an 8.7 percent closure rate for community bank branches.
In rural areas, branches closed at a rate of 6.7 percent in the five years ending June 30, 2021.
As in metropolitan areas, community banks closed branches at a higher rate (7.2 percent)
than noncommunity banks (5.5 percent).

Table 6
The Number of Branches in All Census Groups Has Declined Over The Last Five Years
Census Group
Metropolitan

Micropolitan

Rural

All

All Banks
Noncommunity Banks
Community Banks
All Banks
Noncommunity Banks
Community Banks
All Banks
Noncommunity Banks
Community Banks
All Banks
Noncommunity Banks
Community Banks

2016

2017

2018

2019

2020

2021

% Change
2016–2021

72,889
52,749
20,140
10,129
4,365
5,764
8,806
2,409
6,397
91,824
59,523
32,301

71,213
51,887
19,326
9,931
4,309
5,622
8,695
2,389
6,306
89,839
58,585
31,254

69,731
50,985
18,746
9,755
4,204
5,551
8,579
2,311
6,268
88,065
57,500
30,565

68,301
50,127
18,174
9,592
4,076
5,516
8,489
2,293
6,196
86,382
56,496
29,886

67,200
49,622
17,578
9,452
4,041
5,411
8,388
2,310
6,078
85,040
55,973
29,067

64,451
47,176
17,275
9,145
3,882
5,263
8,212
2,277
5,935
81,808
53,335
28,473

–11.6
–10.6
–14.2
–9.7
–11.1
–8.7
–6.7
–5.5
–7.2
–10.9
–10.4
–11.9

Source: FDIC Summary of Deposits June 30, 2016, to June 30, 2021.
Note: Data are not adjusted for mergers.

FDIC QUARTERLY 47

2022 • Volume 16 • Number 1

Branch Openings Were
Most Prevalent in Texas
in the Most Recent
Reporting Period

Texas was home to the most branch openings (121) among all states; the metropolitan
area reporting the most branch openings (Houston-The Woodlands-Sugar Land); and the
second-highest number of metropolitan areas reporting branch openings (15) in the year
ending June 30, 2021. The Houston-The Woodlands-Sugar Land (Houston) metropolitan
area—which has a relatively low number of total branches (1,411) for a large metropolitan
area—had the highest number of branch openings among all metropolitan areas
(50 branches) during the most recent SOD reporting period (Table 7).
Branch opening activity was also prominent in the New York-Newark-Jersey City, NY-NJ-PA
(New York City) metropolitan area, which reported the second-highest number of branch
openings and the highest number of branch closings among metropolitan areas during
the most recent SOD reporting period. The New York City metropolitan area reported 44
branch openings, with an equal number of branch openings (22) in the states of New York
and New Jersey, and 257 branch closures for a net decline of 213 branches during the year
ending June 30, 2021. The reduction in branches in the New York City metropolitan area was
led by closures in New York County, New York (42 branches), Bergen County, New Jersey
(27), and Nassau County, New York (23). Despite the net reduction in branches, the New York
metropolitan area still had the largest number of branches (4,697) among metropolitan
areas as of June 30, 2021 (Table 8).

Table 7
The Houston Metropolitan Area Had the Highest Number of Branch Openings
Metropolitan Area Name

Number of Branches
Opened

Houston-The Woodlands-Sugar Land, TX (Houston)
New York-Newark-Jersey City, NY-NJ-PA (New York)
Dallas-Fort Worth-Arlington, TX (Dallas)
Boston-Cambridge-Newton, MA-NH (Boston)
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (Philadelphia)

50
44
34
30
30

Source: FDIC Summary of Deposits, June 30, 2020, to June 30, 2021.
Note: Table depicts top five metropolitan areas ranked by number of branch openings.

Table 8
The New York Metropolitan Area Had the Highest Number of Branch Closures
Metropolitan Area Name
New York-Newark-Jersey City, NY-NJ-PA (New York)
Chicago-Naperville-Elgin, IL-IN-WI (Chicago)
Washington-Arlington-Alexandria, DC-VA-MD-WV (Washington)
Los Angeles-Long Beach-Anaheim, CA (Los Angeles)
Atlanta-Sandy Springs-Alpharetta, GA (Atlanta)
Source: FDIC Summary of Deposits, June 30, 2020, to June 30, 2021.
Note: Table depicts top five metropolitan areas ranked by number of branch closures.

48 FDIC QUARTERLY

Number of Branches
Closed
257
131
116
114
82

2021 SUMMARY OF DEPOSITS HIGHLIGHTS

Of the metropolitan areas with the highest number of branch closures, only two areas
had disproportionately high branch closures (in the sense that the area’s share of U.S.
branch closures exceeded its share of U.S. branches). The share of branch closures in the
Washington-Arlington-Alexandria, DC-VA-MD-WV (Washington) metropolitan area and
the Atlanta-Sandy Springs-Alpharetta, GA (Atlanta) metropolitan area both exceeded the
share of total branches in these areas. In each area, however, one or two institutions drove
the high number of closures. For example, branch closures in the Washington metropolitan
area represented 3 percent of branch closings among all metropolitan areas nationwide
while branches in this metropolitan area represented 2 percent of total branches in
metropolitan areas nationwide. Of the 25 banks that closed branches in the Washington
metropolitan area, two banks accounted for more than half (51 percent) of the 116 branch
closures. Similarly, branch closures in the Atlanta metropolitan area represented
2 percent of branch closures in metropolitan areas while branches in this area represented
1.8 percent of branches in metropolitan areas nationwide. While 17 banks closed branches
in the Atlanta metropolitan area, two banks were responsible for 62 percent of branch
closures in this area.

Community Banks
Continued to Serve
Less-Populated Areas

Community banks continued to operate most of the branches in both rural areas and
micropolitan areas. The share of community bank branches in micropolitan areas has
increased over the past five years, up from 56.6 percent in the year ending June 30, 2017, to
57.6 percent in the year ending June 30, 2021. Similarly, the share of branches operated by
community banks in rural areas declined from 72.5 percent in the year ending June 30, 2017,
to 72.3 percent in the year ending June 30, 2021.

Brick-and-Mortar Branches
Led the Overall Reduction
in the Number of Branches

The closings of brick-and-mortar branches—the most prevalent branch service type—
contributed most to the overall decline in the number of branches during the most recent
SOD reporting period. As shown in Table 9, full-service brick-and-mortar branches
represented more than 92.5 percent of all branches.11 Because of the large number of brickand-mortar branches, this group experienced the lowest percentage decline (3 percent or
2,337 branches) among branch types during the year ending June 30, 2021. The proportion
of brick-and-mortar branches increased slightly from 91.8 percent to 92.5 percent year over
year despite the decline in the number of branches.
The rate of decline in the number of full-service retail branches, the second-largest
category among branch service types, was the highest of all branch service types at
16.8 percent. As a result, the proportion of full-service retail branches declined from
4.7 percent of all branch service types to 4.1 percent of all branch service types. Home
banking and limited-service branches declined at faster rates in 2021 when compared with
closure rates reported in 2020, but the proportion of branches in this category remained
relatively stable.

11 The

number of brick-and-mortar branches was 75,674 as of the most recent reporting period, which, divided by the
total number of branches (81,808), yields 92.5 percent. The SOD survey collects information on the service type of each
branch
• f ull-service brick-and-mortar—locations owned or leased by a bank at which customers can open and close accounts,
apply for loans, deposit and withdraw funds, and receive other banking services
• f ull-service retail—full-service branches in a retail facility such as a store or supermarket
• home banking—full-service branches that customers can access on a website or by telephone
• l imited-service—branches that exist for the sole purpose of cashing payroll checks or conducting administrative
services for the bank, or that accept deposits but do not provide any other services.
See pages 31-32 of the Summary of Deposits reporting instructions, https://www.fdic.gov/regulations/resources/call/
sod/sod-instructions.pdf.

FDIC QUARTERLY 49

2022 • Volume 16 • Number 1

Table 9
Full-Service Brick-and-Mortar Branch Closures Led the Overall Reduction in Branches
Full-Service, Brick-and-Mortar
Change, number
Change, percent
Full-Service, Retail
Change, number
Change, percent
Full-Service, Home Banking*
Change, number
Change, percent
Limited-Service Branches
Change, number
Change, percent
All Branches
Change, number
Change, percent

2016

2017

2018

2019

2020

2021

83,236
–1,059
–1.3
5,014
–247
–4.7
179
0
0.0
3,395
–132
–3.7
91,824
–1,438
–1.5

81,760
–1,476
–1.8
4,706
–308
–6.1
189
10
5.6
3,184
–211
–6.2
89,839
–1,985
–2.2

80,425
–1,335
–1.6
4,441
–265
–5.6
192
3
1.6
3,007
–177
–5.6
88,065
–1,774
–2.0

79,054
–1,371
–1.7
4,250
–191
–4.3
194
2
1.0
2,884
–123
–4.1
86,382
–1,683
–1.9

78,011
–1,043
–1.3
4,002
–248
–5.8
191
–3
–1.5
2,768
–116
–4.0
84,972
–1,410
–1.6

75,674
–2,337
–3.0
3,329
–673
–16.8
203
12
6.3
2,602
–166
–6.0
81,808
–3,164
–3.7

Source: FDIC Summary of Deposits, June 30, 2016, to June 30, 2021.
Note: Data are not adjusted for mergers.
*Home banking branches are sometimes called “cyber branches” because they are typically accessed online.

Average Deposits per
FDIC-Insured Institution
and Branch Increased

Average deposits per institution increased 13.2 percent in the year ending June 30, 2021.
This growth rate is slightly above the five-year (2016 to 2020) average growth rate in
deposits per institution of 13.1 percent as lower growth rates in 2018 and 2019 offset the
unprecedented growth rate in 2020. However, deposit growth per institution remains well
above growth rates reported in 2018 and 2019.
Growth in average deposits per branch was higher than the five-year average growth rate,
but lower than the growth rate reported during the year ending June 30, 2020. Average
deposits per branch increased at an average rate of 10.2 percent between 2016 and 2020,
and, in 2021, average deposits per branch increased 14.9 percent.

Most Counties in the
United States Have at Least
One Branch of an
FDIC-Insured Institution

Branch locations are geographically widespread across the United States albeit with
varying density, and most counties in the United States (98.6 percent) have a branch
presence as of the most recent SOD reporting period. Unsurprisingly, the counties
with no branch presence are sparsely populated, with populations ranging from 90 to
approximately 8,100 residents.12 Of all U.S. counties, 19.3 percent have only a community
bank branch presence. Texas and Kansas have the highest number of counties with only a
community bank branch presence. Three out of four states have at least one county with
only a community bank branch presence, underscoring the important role that community
banks play in serving their communities.

12 References

population estimates as of July 2020 from the U.S. Census Bureau. Population data are not available for all
counties without a branch presence.

50 FDIC QUARTERLY

2021 SUMMARY OF DEPOSITS HIGHLIGHTS

Minority Depository
Institutions Continued to
Serve an Important Role,
Supported by a MergerAdjusted Net Gain
in Branches

Minority depository institutions (MDIs) play an important role in creating jobs, growing
small businesses, and building wealth in low- and moderate-income communities.13
MDI banks and branches tend to support economic growth in low- and moderate-income
communities. MDIs are primarily located in areas characterized by dense populations, with
89 percent of MDI branches located in a metropolitan area. Like community banks, MDIs
typically have smaller geographic footprints than noncommunity banks and rely on core
deposits to fund loan growth. Most MDIs also met the FDIC’s definition of a community
bank as of June 30, 2021.14 Of the 144 banking institutions identified as MDIs as of that date,
122 met the FDIC’s definition of a community bank.
The number of branches operated by MDIs declined slightly during the most recent SOD
reporting period. Collectively, MDIs operated 1,537 branches as of June 30, 2021, compared
with 1,540 branches a year ago. This 0.2 percent decline in the number of branches operated
by MDIs was far less than the 3.8 percent decline in the number of branches operated by the
U.S. banking industry. The net decline in branches resulted from changes in MDI branch
networks including 44 branch openings and 47 branch closures during the year ending
June 30, 2021 (Table 10). Institutions designated as Hispanic MDIs reported the highest
number of net branch closings. Black MDIs also reported a net decline in branches, as
closings outpaced openings. Asian MDIs reported a net opening of branches and multiracial
MDIs reported no change.

Table 10
Hispanic Minority Depository Institutions Opened the Most Offices in the Past Year on a Merger-Adjusted Basis
Designation

Number of Openings

Number of Closings

Net Openings/Closings

Not Adjusted for Mergers
Asian
Black
Hispanic
Native American
Multiracial
Total

34
1
3
6
0
44

Asian
Black
Hispanic
Native American
Multiracial
Total

11
2
28
2
0
43

17
2
28
0
0
47
Adjusted for Mergers
17
1
18
0
0
36

17
–1
–25
6
0
–3
–6
1
10
2
0
7

Sources: FDIC Summary of Deposits, June 30, 2020, to June 30, 2021, and FDIC MDI List.
Note: MDI is Minority Depository Institution.

13 The

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.
See https://www.fdic.gov/news/board-matters/2021/2021-06-15-notice-sum-b-fr.pdf, Federal Deposit Insurance
Corporation, Policy Statement Regarding Minority Depository Institutions (2002). For more information about MDIs,
see FDIC, “2019 Minority Depository Institutions: Structure, Performance, and Social Impact,” https://www.fdic.gov/
regulations/resources/minority/2019-mdi-study/full.pdf.
14 Section

308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 requires the Secretary of
the Treasury and the federal financial institution regulatory agencies to consult on the best ways to achieve the goal of
preserving minority ownership of MDIs, most of which are also community banks. For more information about section
308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, see https://uscode.house.gov/view.
xhtml?req=granuleid:USC-prelim-title12-section1463&num=0&edition=prelim - Public Law 101–73, title III, § 308,
Aug. 9, 1989, 103 Stat. 353, as amended by Public Law 111–203, title III, § 367(4), July 21, 2010, 124 Stat. 1556, codified at
12 U.S.C. 1463 note.

FDIC QUARTERLY 51

2022 • Volume 16 • Number 1

Focusing on the MDIs in operation as of June 30, 2021, and adjusting for the effects of
mergers provides a different perspective on the branching trends. After adjusting for
the effects of mergers, MDIs increased the number of branches they operated, from 1,530
to 1,537. For MDIs designated as community banks, the merger-adjusted increase in the
number of branches operated was more pronounced, from 714 branches on a mergeradjusted basis as of the year ending June 30, 2020, to 745 branches as of the most recent
SOD reporting period. Branch trends at MDI community banks thus differed from other
community banks. On a merger-adjusted basis, community banks in total had a 0.3 percent
reduction in branches. Non-MDI community banks had a 1.1 percent reduction in branches,
but community bank MDIs had a 4.3 percent increase in branches.

Advancements in Technology
Supported the Ability to
Perform Bank Transactions
Remotely

Various factors are likely contributing to the ongoing reduction in the number of branches.
The growing prevalence of mobile banking, which increased in importance during the
pandemic, may have played a role in the accelerated branch reduction rate reported in the
year ending June 30, 2021.
While not all bank transactions can be performed remotely and access to banking services
remains a challenge for underserved communities, many bank customers, businesses, and
governmental entities have increasingly used online and mobile banking applications to
conduct routine banking transactions. These platforms were particularly helpful during
the pandemic to support social distancing. Bank customers are performing more bank
transactions remotely, many banks that operate with no physical branch locations have
reported elevated deposit growth in recent years, and the dollar amount and number of
electronic funds payments continues to grow.
Bank customers are increasingly performing routine banking transactions using online
or mobile banking applications. Results from the FDIC’s 2019 survey on household use
of banking and financial services reflect a decline in the percentage of households that
rely on bank tellers (from 28.2 percent to 21 percent) and an increase in the percentage
of households that rely on mobile banking applications for bank account access (from
9.5 percent to 34 percent) between 2015 and 2019.15 In addition, a survey of mobile banking
application use conducted by S&P Global Market Intelligence in 2021 shows that more than
half of mobile banking customers increased their use of mobile banking applications and
reduced the number of branch visits during the pandemic.16 Further, according to S&P’s
survey, since the beginning of the pandemic, many mobile application users took advantage
of features such as peer-to-peer money payments and photo-based remote check deposit
for the first time.
Although some banks operate home banking branches, also called cyber branches, and
branches of other service types, some banks operate no physical branches. These banks,
called “online-only banks” for this discussion, have reported strong deposit growth in
recent years despite the absence of brick-and-mortar branches.17 As of June 30, 2021, the
FDIC insured six online-only banks, and five (81.8 percent) were noncommunity banks.
Deposits for these banks totaled $152.3 billion, an increase of 5.4 percent during the year
ending June 30, 2021, and an increase of 18.6 percent compared with the pre-pandemic level
(the year ending June 30, 2019).

15 FDIC,

“How America Banks: Household Use of Banking and Financial Services, 2019 FDIC Survey,” https://www.fdic.
gov/analysis/household-survey/index.html.
16 S&P

2021 U.S. Mobile Banking Market Report.

17 Online-only

banks are defined as banks that meet each of the following criteria: the bank does not belong to a
multibank holding company; the bank operates only a main branch and no additional branches; and the main branch is
listed as a cyber branch.

52 FDIC QUARTERLY

2021 SUMMARY OF DEPOSITS HIGHLIGHTS

The volume and number of automated clearinghouse (ACH) payments continue to rise as
bank customers and governmental entities increasingly use remote banking applications
to meet financial needs (Chart 4, Chart 5).18 The ACH network supports electronic funds
payments to and from bank accounts, enabling customers to perform many routine
banking transactions remotely. The number of ACH payments processed in first quarter
2021 was the highest on record, with 2.7 billion payments processed, including 110 million
economic impact payments distributed by the U.S. government. The level of ACH payments,
including direct deposits, consumer bill pay, person-to-person, and business-to-business
payments, has continued to trend upward over the past ten years. Compared with first
quarter 2020, the number of ACH payments increased 9.9 percent (up 655 million) and total
dollar volume of ACH payments increased 24.6 percent, including a 28.7 percent increase in
business-to-business ACH payments.

Chart 4
The Number of Automated Clearinghouse Payments Continues to Rise
Payment Volume

Number of Payments
(Billions)

Percentage Change

Percent

30

12

25

10

20

8

15

6

10

4

5

2

0

2014

2015

2016

2017

2018

2019

2020

2021

0

Source: Nacha.
Note: Data are totals from third quarter of the previous year to second quarter of the year shown.

Chart 5
The Volume of Automated Clearinghouse Payments Rose Sharply in 2021
Dollar Volume

Payments
(Trillions)

Percentage Change

Percent

80

20

70

18
16

60

14

50

12

40

10

30

8
6

20

4

10
0

2
2014

2015

2016

2017

2018

2019

2020

2021

0

Source: Nacha.
Note: Data are totals from third quarter of the previous year to the second quarter of the year shown.

18 All

ACH payment data are derived from Nacha, formerly known as the National Automated Clearinghouse Association.

FDIC QUARTERLY 53

2022 • Volume 16 • Number 1

The U.S. government delivers most of its payments to the public electronically using ACH
or direct deposit payments, eliminating the need to visit a brick-and-mortar branch or
automated teller machine to cash or deposit a physical check. These ACH payments include
99.5 percent of federal salaries, 99 percent of Social Security benefits, 90 percent of tax
refunds, and 79 percent of economic impact payments.19 The growth of ACH payments that
flow directly into the banking system supports deposit growth in the banking industry in a
way that does not depend on the number or location of physical branches.

Conclusion

Total deposits in domestic branches of FDIC-insured institutions continued to grow at a
rate that exceeded the pre-pandemic average but was lower than the extraordinarily high
growth rate reported as of June 30, 2020. Continued government payments to consumers
and businesses, and fiscal and monetary policy responses to the pandemic helped support
the elevated deposit growth rate during the year ending June 30, 2021. Growth in total
deposits was widespread, reflecting increased deposit holdings for community banks and
noncommunity banks; banks of different asset size groups; banks with a wide variety of
lending specializations; and banks in metropolitan, micropolitan, and rural areas.
The net number of branches nationwide continued to decline. Community banks not only
continued to operate more branches than noncommunity banks in rural and micropolitan
areas but also closed branches at slower rates in those areas. The relatively large presence
of community banks in rural and micropolitan areas reflects the continued importance of
community banks in serving local communities. MDIs, primarily a subset of community
banks, continued to serve their communities as well. MDIs were among the few subgroups
of the banking industry that reported a net merger-adjusted addition of branches during
the most recent SOD reporting period. Bank customers have continued to use mobile and
internet banking platforms and applications at an increasing rate to perform banking
transactions, potentially reducing the need for physical branches.
Authors:
Caitlyn R. Kasper
Financial Analyst
Division of Insurance and Research
Camille A. Keith
Economic Analyst
Division of Insurance and Research
Erica J. Tholmer
Senior Financial Analyst
Division of Insurance and Research
Anthony M. Waltrich
Economic Research Assistant
Division of Insurance and Research

19 For

more information about direct deposits of government payments, see https://www.nacha.org/content/
government-affairs.

54 FDIC QUARTERLY