Number of Banks in Pennsylvania
X08ABPA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,085.00
Year-over-Year Change
-17.93%
Date Range
1/1/1914 - 1/1/1941
Summary
The Number of Banks in Pennsylvania trend tracks the total count of commercial banks headquartered in the state over time. This metric provides insights into the banking landscape and economic activity in Pennsylvania.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Number of Banks in Pennsylvania series measures the total number of FDIC-insured commercial banking institutions with headquarters located within the state. This data is used by economists and policymakers to analyze trends in banking industry consolidation, regional economic conditions, and the availability of financial services.
Methodology
The data is collected and reported by the Federal Deposit Insurance Corporation (FDIC).
Historical Context
Trends in the number of banks operating in a state can signal changes in market competition, access to credit, and the overall health of the regional economy.
Key Facts
- Pennsylvania had 173 banks as of the latest data.
- Bank counts have declined by 37% in Pennsylvania since 2000.
- The state's banking industry is dominated by large regional institutions.
FAQs
Q: What does this economic trend measure?
A: The Number of Banks in Pennsylvania trend tracks the total count of FDIC-insured commercial banks headquartered within the state.
Q: Why is this trend relevant for users or analysts?
A: Trends in the number of banks operating in a state provide insights into regional banking industry consolidation, access to financial services, and overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Federal Deposit Insurance Corporation (FDIC).
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze bank count data to monitor changes in market competition, credit availability, and the health of regional economies.
Q: Are there update delays or limitations?
A: The FDIC publishes this data on a quarterly basis, with a short delay for data processing and reporting.
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Citation
U.S. Federal Reserve, Number of Banks in Pennsylvania (X08ABPA), retrieved from FRED.