Andrew and I presented two workshops yesterday at the California State Future Business Leaders of America conference, conveniently held locally in Santa Clara; as a result, I didn’t have time to squeeze in my #FLM2015 Question of the Day. So, what better time to make up the work than Saturday evening? Ah, life with a 5 month old baby…

Question of the Day: How many FDIC insured institutions are there in the US?

Not quite as challenging to answer this one as some of my previous questions this month. A little digging on the FDIC website provides me with these facts:

I was a bit confused about the dollar amounts, until I read the fine print and saw that those millions listed are in millions of dollars, so $15.6 trillion in assets and $11.8 trillion in deposits.

Also found this more detailed chart and was particularly interested to know that while no new banks have been established and FDIC insured in 2015, 89 had been merged/closed and 4 had failed:

Did any of you hear about four failed banks in the first quarter of this year? Makes me assume they were pretty small. After some digging, one in each of these cities — San Juan, PR; Atlanta, Chicago, and Crestview, FL. Maybe these were bigger news if you live in one of those cities. Finally, it actually looks as though there was an average of 1.5 failed bank a month in 2014 and 2 failed banks a month in 2013, which is not something I ever would have guessed.

OK, it IS Saturday night, so that’s enough FDIC food for thought for this weekend. See you Monday!

About the Author

Jessica Endlich

When I started working at Next Gen Personal Finance, it's as though my undergraduate degree in finance, followed by ten years as an educator in an NYC public high school, suddenly all made sense.