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Deposits continue to grow at a rapid pace even as the number of banks has decreased.

According to research firm Market Rates Insight, the number of insured institutions declined by 10.4% in the past five years from 8,856 in June 2005 to 7,932 in March, the MRI data showed. At the same time, the number of branches at these institutions increased 8.2% from 92,043 to 99,550, which is an average incremental increase of 2.2 branches per institution.

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Peter Westerman


Credit Union Times

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