Through the third quarter, the decline in the number of commercial banks still in existence continues to meet my forecast for the year. By the end of September 2013 the banking system numbered 159 banks fewer than were in existence on December 31, 2012.
In the pace through the first three quarters of the year continues in the fourth quarter, the banking system should have more than 200 fewer banks at the end of 2013 than were in existence at the end of 2012. My forecast for 2013 has been for a decline of about 200 banks.
In 20012, the year ended with 195 fewer banks.
Year-over-year, that is, September 30, 2012, to September 30, 2013, the number of commercial banks in the banking system declined by 231 banks.
Note that for the first three quarters of 2013 there were only 21 failed commercial banks.
Thus, the banking system continues