DATA AND PROGRAMS FOR DAVID WHEELOCK'S SEP/OCT 1993 REVIEW ARTICLE 'IS THE BANKING INDUSTRY IN DECLINE? RECENT TRENDS AND FUTURE PROSPECTS FROM A HISTORICAL PERSPECTIVE' DATA FOR FIGURE 1 TFACB = TOTAL FINANCIAL ASSETS OF COMMERCIAL BANKS TFANB = TOTAL FINANCIAL ASSETS OF NON-BANKS TFACB/TFANB = THE RATIO OF THE ABOVE TWO SERIES SOURCE: BOARD OF GOVERNORS, FLOW OF FUNDS YEAR TFACB TFANB TFACB/TFANB 1972 616313 1085957 0.56753 1973 696289 1140597 0.61046 1974 757468 1173487 0.645485 1975 792680 1360547 0.582619 1976 853300 1549011 0.550868 1977 944609 1732256 0.545306 1978 1066148 1981713 0.537993 1979 1173366 2254429 0.520471 1980 1266102 2603612 0.486287 1981 1365046 2894777 0.471555 1982 1471462 3346006 0.439767 1983 1601800 3814551 0.419918 1984 1798787 4354771 0.413061 1985 1990199 5060879 0.393252 1986 2165965 5960995 0.363356 1987 2257087 6441045 0.350422 1988 2384921 7089454 0.336404 1989 2545274 7890849 0.32256 1990 2644240 8111676 0.325979 1991 2677261 9318643 0.287302 1992 2776105 10011967 0.277279 DATA FOR FIGURE 2 BNKLNS = BANK LOANS TO NON-FINANCIAL CORPORATIONS LNSSTP = LOANS AND OTHER SHORT-TERM PAPER OF NON-FINANCIAL CORPORATIONS BNKLNS/LNSSTP = RATIO OF ABOVE TWO SERIES SOURCE: BOARD OF GOVERNORS, FLOW OF FUNDS YEAR BNKLNS LNSSTP BNKLNS/LNSSTP 1972 120453 146619 0.821537 1973 137050 168500 0.813353 1974 159407 201669 0.790439 1975 143514 185348 0.774295 1976 140072 190567 0.735028 1977 154918 215318 0.719485 1978 175120 244348 0.716683 1979 204270 294691 0.693167 1980 230332 332342 0.693057 1981 261678 398456 0.65673 1982 318498 453753 0.701919 1983 340892 492244 0.692526 1984 391134 597766 0.654326 1985 424083 659779 0.642765 1986 473726 720884 0.657146 1987 482357 761651 0.633304 1988 519285 841183 0.617327 1989 553519 924849 0.598497 1990 555356 959740 0.578653 1991 530493 891191 0.595263 1992 518473 887954 0.583896 DATA FOR FIGURE 3 COMPAP = COMMERCIAL PAPER OF NON-FINANCIAL CORPORATIONS C&I = BANK CONSTRUCTION AND INVESTMENT LOANS COMPAP/C&I = RATIO OF ABOVE TWO SERIES SOURCE: BOARD OF GOVERNORS, FLOW OF FUNDS YEAR COMPAP C&I COMPAP/C&I 1972 6968 137098 0.050825 1973 8382 164987.9 0.050804 1974 12513 196646 0.063632 1975 9616 189326.7 0.050791 1976 11049 190903.5 0.057877 1977 12808 211037.3 0.060691 1978 15499 246158.5 0.062964 1979 24518 291350.6 0.084153 1980 28026 325654 0.086061 1981 42722 355373.2 0.120217 1982 37614 392474.3 0.095838 1983 36775 414162.4 0.088794 1984 58490 473209.5 0.123603 1985 72207 500156 0.144369 1986 62865 536689.3 0.117135 1987 73768 566401.3 0.13024 1988 85676 605306 0.141542 1989 107112 638440.1 0.167771 1990 116852 642566.8 0.181852 1991 98476 617034.1 0.159596 1992 107105 597630.4 0.179216 DATA FOR FIGURE 4 NET INT. INCOME = BANKS NET INTEREST INCOME AS A PERCENT OF ASSETS NON-INT. INCOME = BANKS NON-INTEREST INCOME AS A PERCENT OF ASSETS SOURCES: 1980 - 1986; BARTH, J. ET. AL., THE FUTURE OF AMERICAN BANKING PP. 70-71 1987 - 1992; FDIC STATISTICS ON BANKING, 1992 YEAR NET INT. NON-INT. INCOME INCOME 1980 3.03 0.77 1981 3.03 0.86 1982 3.14 0.92 1983 3.13 0.99 1984 3.24 1.06 1985 3.33 1.14 1986 3.23 1.22 1987 3.329623 1.38 1988 3.425613 1.44 1989 3.401566 1.54 1990 3.40885 1.62 1991 3.554183 1.74 1992 3.806745 1.88 DATA FOR FIGURE 5 NUMBER OF COMMERCIAL BANKS IN THE CONTINENTAL UNITED STATES TAKEN FROM PAGE 37 OF ALL BANKS STATISTICS (FOR 1900-1955) 1956 - 1970, AS OF JUNE, BUT NOT FOR CONTINENTAL U.S. ANYMORE 1971 - 1979, 1980-1991 AS OF DECEMBER NUMBER OF BRANCHES 1920 - 1940 TAKEN FROM BANKING AND MONETARY STATISTICS, 1914-1941 (P.297) 1941 - 1969 TAKEN FROM VARIOUS ISSUES OF THE FEDERAL RESERVE BULLETIN THE 'CHANGES IN NUMBER OF BANKING OFFICES IN THE UNITED STATES' TABLE AND THE 'BANKS AND BRANCHES, NUMBER OF BANKS AND BRANCHES IN OPERATION ON DECEMBER 31, 19XX' TABLE YEAR NUMBER BRANCHES(STARTS IN 1900) ---- ------ -------- 1900 12427 . 1901 13424 . 1902 14488 . 1903 15814 . 1904 17037 . 1905 18152 . 1906 19786 . 1907 21361 . 1908 22531 . 1909 23098 . 1910 24514 . 1911 25183 . 1912 25844 . 1913 26664 . 1914 27236 . 1915 27390 . 1916 27739 . 1917 28298 . 1918 28856 . 1919 29147 . 1920 30291 1281 1921 30456 1455 1922 30120 1801 1923 29829 2054 1924 28988 2297 1925 28442 2525 1926 27742 2703 1927 26650 2914 1928 25798 3138 1929 24970 3353 1930 23679 3522 1931 21654 3467 1932 18734 3195 1933 14207 2784 1934 15348 3005 1935 15488 3155 1936 15329 3270 1937 15094 3411 1938 14867 3444 1939 14667 3491 1940 14534 3525 1941 14434 3564 1942 14353 3602 1943 14197 3797 1944 14138 3924 1945 14126 3947 1946 14152 3981 1947 14182 4161 1948 14198 4349 1949 14151 4579 1950 14146 4843 1951 14107 5153 1952 14069 5465 1953 14005 5826 1954 13936 6306 1955 13780 6923 1956 13679 7362 1957 13619 7968 1958 13535 8613 1959 13470 9388 1960 13491 10216 1961 13463 11077 1962 13422 12068 1963 13482 13220 1964 13669 14321 1965 13791 15486 1966 13802 16648 1967 13744 17690 1968 13724 18777 1969 13673 19985 1970 13671 21424 1971 13784 22888 1972 13928 24406 1973 14172 26246 1974 14457 28244 1975 14632 29795 1976 14673 30947 1977 14705 32724 1978 14712 34408 1979 14708 36403 1980 14836 38353 1981 14882 40405 1982 14963 39479 1983 15023 40808 1984 15126 41740 1985 15072 43239 1986 14886 44225 1987 14004 45411 1988 13415 46713 1989 13011 48771 1990 12669 51305 1991 12269 53000 DATA FOR FIGURE 6 A VALUE OF '1' MEANS A STATE HAD THAT TYPE OF BRANCHING, WHILE '0' MEANS IT DID NOT. TYPES OF BANK BRANCHING BY STATE AS OF DEC 31, 1979 SOURCE: "A PROFILE OF STATE-CHARTERED BANKING" 1979 EDITION STATE STATE-WIDE BRANCHING LIMITED BRANCH UNIT BANKING AL 0 1 0 AK 1 0 0 AZ 1 0 0 AR 0 1 0 CA 1 0 0 CO 0 0 1 CT 1 0 0 DE 1 0 0 FL 0 1 0 GA 0 1 0 HI 1 0 0 ID 1 0 0 IL 0 0 1 IN 0 1 0 IA 0 1 0 KS 0 0 1 KY 0 1 0 LA 0 1 0 ME 1 0 0 MD 1 0 0 MA 0 1 0 MI 0 1 0 MN 0 1 0 MS 0 1 0 MO 0 0 1 MT 0 0 1 NE 0 0 1 NV 1 0 0 NH 0 1 0 NJ 1 0 0 NM 0 1 0 NY 1 0 0 NC 1 0 0 ND 0 0 1 OH 0 1 0 OK 0 0 1 OR 1 0 0 PA 0 1 0 RI 1 0 0 SC 1 0 0 SD 1 0 0 TN 0 1 0 TX 0 0 1 UT 1 0 0 VT 1 0 0 VA 0 1 0 WA 1 0 0 WV 0 0 1 WI 0 1 0 WY 0 0 1 DATA FOR FIGURE 7 NUMBER = NUMBER OF BANKS IN THAT STATE AS OF DEC 31, 1979 POP = STATE'S POPULATION AS OF DEC 31, 1979 (THOUSANDS) NUMBER/POP = NUMBER OF BANKS PER 1000 PERSONS AS OF DEC 31, 1979 SOURCE: NUMBER; BOARD OF GOVERNORS, CALL REPORTS POP; BUREAU OF THE CENSUS STATE NUMBER POP NUMBER/POP AK 12 399 0.030075188 AL 317 3869 0.0819333161 AR 259 2269 0.1141472014 AZ 22 2639 0.0083364911 CA 242 23255 0.0104063642 CO 306 2849 0.1074061074 CT 65 3100 0.0209677419 DE 18 599 0.0300500835 FL 576 9471 0.0608172315 GA 439 5391 0.0814320163 HI 9 950 0.0094736842 IA 651 2917 0.2231744943 ID 27 933 0.0289389068 IL 1250 11423 0.1094283463 IN 404 5475 0.0737899543 KS 616 2347 0.2624627184 KY 343 3644 0.0941273326 LA 262 4139 0.0633003141 MA 142 5746 0.0247128437 MD 102 4223 0.0241534454 ME 41 1125 0.0364444444 MI 372 9249 0.0402205644 MN 760 4038 0.1882119861 MO 721 4889 0.147473921 MS 182 2508 0.0725677831 MT 162 789 0.2053231939 NC 82 5802 0.0141330576 ND 173 652 0.2653374233 NE 454 1564 0.2902813299 NH 78 912 0.0855263158 NJ 175 7373 0.0237352502 NM 86 1281 0.0671350507 NV 9 765 0.0117647059 NY 225 17634 0.012759442 OH 408 10799 0.037781276 OK 490 2970 0.164983165 OR 75 2578 0.0290923196 PA 367 11874 0.0309078659 RI 15 957 0.0156739812 SC 85 3087 0.0275348235 SD 154 689 0.2235123367 TN 351 4533 0.0774321641 TX 1422 13887 0.1023979261 UT 74 1416 0.052259887 VA 233 5325 0.0437558685 VT 29 506 0.057312253 WA 100 4013 0.0249190132 WI 631 4666 0.1352336048 WV 235 1939 0.121196493 WY 94 452 0.2079646018 FIRST PART OF DATA FOR FIGURE 8 BANK FAILURES BY STATE SOURCE: ANNUAL REPORT OF THE FDIC, VARIOUS YEARS (DATA FOR 1992 WERE FAXED BEFORE PUBLICATION OF ANNUAL REPORT) ST 92 91 90 89 88 87 86 85 84 83 82 81 80 -- -- -- -- -- -- -- -- -- -- -- -- -- -- AK 0 0 0 2 1 2 1 0 0 0 0 0 0 AL 0 0 0 0 0 2 1 2 1 1 1 0 1 AR 1 1 1 0 0 0 0 1 2 1 3 0 0 AZ 3 1 5 6 1 0 0 0 0 0 0 1 0 CA 12 4 4 1 3 8 8 7 6 5 2 0 0 CO 0 3 7 7 10 13 7 6 2 1 0 1 0 CT 10 17 1 1 0 0 0 0 0 0 0 0 0 DE 0 0 0 0 1 0 0 0 0 0 0 0 0 FL 2 10 7 5 3 3 3 2 2 0 1 0 1 GA 2 0 0 0 0 0 0 0 0 0 0 1 0 HI 1 1 0 0 0 0 0 0 0 0 0 0 0 IA 0 0 0 0 6 6 10 11 3 0 2 0 0 ID 0 0 0 0 0 0 1 0 0 0 0 0 0 IL 2 2 0 0 1 2 1 2 5 6 5 2 1 IN 1 1 0 0 1 3 1 1 2 0 0 0 0 KS 2 1 1 5 6 8 16 13 7 1 0 0 3 KY 0 0 1 0 0 1 2 0 1 1 0 0 0 LA 2 5 4 21 11 14 9 0 1 0 0 0 0 MA 15 14 7 1 0 2 0 0 0 0 1 0 1 MD 1 1 0 0 0 0 0 0 0 0 0 0 0 ME 0 2 0 0 0 0 0 0 0 0 0 0 0 MI 0 0 0 0 1 0 0 0 1 0 1 0 0 MN 1 0 1 1 7 10 5 6 4 1 1 0 0 MO 7 0 1 1 2 4 10 9 2 1 2 0 0 MS 1 0 0 0 0 1 0 0 1 0 0 0 0 MT 1 0 0 2 1 3 1 0 0 1 0 0 0 NC 0 1 0 0 0 0 0 0 0 0 0 0 0 ND 0 0 3 2 1 2 0 0 0 0 0 0 1 NE 0 0 0 1 1 6 6 13 5 1 0 0 0 NH 3 12 1 0 0 0 0 0 0 0 0 0 0 NJ 5 4 2 0 0 0 0 0 1 1 1 0 0 NM 0 3 2 0 0 0 2 3 0 0 0 0 0 NV 0 0 0 0 0 0 0 0 0 1 0 0 0 NY 7 2 5 3 1 1 0 4 0 2 4 3 0 OH 0 1 1 0 1 1 0 0 0 0 0 0 0 OK 2 1 9 12 23 31 17 13 5 1 3 0 0 OR 0 0 0 0 0 1 1 3 5 5 0 2 0 PA 2 0 0 0 0 1 0 0 0 0 1 0 0 RI 3 0 0 0 0 0 0 0 0 0 0 0 0 SC 0 1 0 0 0 0 0 0 0 0 0 0 0 SD 0 0 0 0 1 2 1 0 1 1 0 0 0 TN 0 0 1 0 0 0 3 5 11 12 3 0 1 TX 31 31 103 133 113 50 26 12 6 3 7 0 0 UT 0 0 0 0 2 3 3 1 1 0 0 0 0 VA 2 2 0 1 0 0 0 0 0 0 1 0 0 VT 0 1 0 0 0 0 0 0 0 0 0 0 0 WA 0 0 0 0 1 0 1 0 0 0 1 0 0 WI 0 0 0 0 0 0 1 1 0 0 0 0 0 WV 0 1 0 1 0 0 0 0 1 0 1 0 1 WY 0 0 0 0 1 4 7 5 2 1 0 0 0 SECOND PART OF DATA FOR FIGURE 8 NUMBER OF BANKS PER STATE SOURCE: BOARD OF GOVERNORS, CALL REPORTS(FOURTH QUARTER OF EACH YEAR) ST 92 91 90 89 88 87 86 85 84 83 82 81 80 -- -- -- -- -- -- -- -- -- -- -- -- -- -- AK 8 8 8 7 10 11 15 15 15 14 14 12 12 AL 217 219 220 221 221 225 228 240 269 273 294 308 318 AR 258 261 256 257 255 256 256 259 258 259 260 262 260 AZ 38 39 38 43 47 49 54 52 46 38 30 26 24 CA 434 450 447 444 436 440 444 444 436 400 357 308 280 CO 343 377 423 418 412 420 437 436 427 399 372 339 322 CT 48 55 67 69 65 64 59 56 49 49 54 57 64 DE 35 37 42 43 40 38 34 30 27 22 17 18 18 FL 404 416 428 424 411 402 411 410 422 438 460 495 556 GA 402 402 407 390 377 356 367 372 382 390 416 426 435 HI 8 10 10 10 10 10 10 10 10 10 10 9 9 IA 542 553 562 576 585 596 613 624 629 637 643 649 651 ID 21 22 22 24 22 23 24 26 25 26 27 27 26 IL 1015 1070 1095 1125 1154 1211 1218 1234 1241 1247 1250 1253 1253 IN 268 282 299 310 336 343 354 371 378 390 400 405 405 KS 507 528 555 572 588 599 612 623 628 623 620 618 620 KY 311 320 332 335 332 330 331 333 336 337 343 344 345 LA 221 226 231 232 251 269 298 300 302 286 278 273 269 MA 59 71 83 94 98 103 101 111 119 120 131 135 137 MD 96 100 103 105 99 94 91 89 87 89 91 94 102 ME 22 21 21 20 19 23 22 25 26 31 35 36 41 MI 218 230 235 268 285 312 345 358 365 371 374 375 376 MN 588 603 621 631 647 697 727 734 738 751 760 760 760 MO 510 532 543 551 576 594 610 673 713 732 732 728 725 MS 121 123 123 123 125 128 138 146 153 161 167 170 177 MT 120 145 156 167 169 169 169 169 167 166 166 164 163 NC 77 80 77 77 70 67 64 62 62 69 69 71 80 ND 143 146 150 158 159 173 176 177 177 177 176 176 176 NE 373 388 390 389 409 422 430 445 463 464 461 457 457 NH 24 28 40 43 48 52 53 55 59 62 71 71 75 NJ 104 112 126 121 123 118 116 121 120 132 145 160 168 NM 84 83 90 93 93 94 94 96 95 93 92 88 89 NV 17 18 18 16 16 16 16 16 15 14 13 12 9 NY 228 239 229 218 206 194 195 186 188 197 226 232 235 OH 270 279 287 291 295 300 304 317 320 341 355 380 385 OK 393 411 419 430 465 487 520 534 538 526 510 502 495 OR 48 51 50 49 52 53 59 67 72 80 88 84 80 PA 283 291 304 299 295 296 300 311 326 332 340 350 355 RI 10 11 9 10 10 10 14 15 13 15 15 14 14 SC 81 83 85 81 77 74 73 74 73 71 77 83 85 SD 120 124 124 128 132 136 134 137 140 145 152 153 152 TN 251 250 253 268 270 280 283 289 293 332 347 352 351 TX 1090 1124 1186 1316 1495 1765 1972 1936 1853 1726 1598 1523 1468 UT 37 38 38 39 39 43 50 51 57 60 61 66 76 VA 170 174 178 182 184 173 171 167 176 189 202 223 229 VT 21 24 27 27 26 26 25 25 27 27 27 27 28 WA 96 95 95 94 90 90 94 98 102 100 100 98 100 WI 445 458 473 510 522 553 566 574 590 603 624 636 634 WV 164 169 180 188 197 204 210 215 225 229 241 243 237 WY 63 62 71 71 95 101 106 114 116 111 111 108 102 THE FOLLOWING IS THE PROGRAM USED TO PUT THE ABOVE DATA SETS TOGETHER AND GENERATE THE AVERAGE FAILURE RATE FOR EACH STATE TO BE USED IN FIGURE 8. THE CODE WAS RUN USING SAS VERSION 6.07. DATA FAIL8092; INFILE (FAILURES); INPUT STATE $ FAIL92-FAIL80; IF STATE = 'DC' THEN DELETE; PROC SORT; BY STATE; DATA NUMBER; INFILE (STATEBNK); INPUT STATE $ NUM92-NUM80; PROC SORT; BY STATE; DATA BOTH; MERGE FAIL8092 NUMBER; BY STATE; FAILRT80 = FAIL80/NUM80; FAILRT81 = FAIL81/NUM81; FAILRT82 = FAIL82/NUM82; FAILRT83 = FAIL83/NUM83; FAILRT84 = FAIL84/NUM84; FAILRT85 = FAIL85/NUM85; FAILRT86 = FAIL86/NUM86; FAILRT87 = FAIL87/NUM87; FAILRT88 = FAIL88/NUM88; FAILRT89 = FAIL89/NUM89; FAILRT90 = FAIL90/NUM90; FAILRT91 = FAIL91/NUM91; FAILRT92 = FAIL92/NUM92; AVGFAIL = MEAN(OF FAILRT80-FAILRT92); DATA PRODUCED FROM ABOVE PROGRAM AND DATA, TO BE USED IN FIGURE 8. ST AVERAGE FAILURE RATE OVER 1980-1992 -- ------------ AK 0.0487845488 AL 0.0027334367 AR 0.0029712341 AZ 0.0334954123 CA 0.0106499616 CO 0.0104920303 CT 0.0420647976 DE 0.0019230769 FL 0.0071375104 GA 0.0005632725 HI 0.0173076923 IA 0.0047803722 ID 0.0032051282 IL 0.0018487888 IN 0.0022931747 KS 0.0080417196 KY 0.0013867844 LA 0.0206452952 MA 0.0446727975 MD 0.0015705128 ME 0.0073260073 MI 0.0006863304 MN 0.0040908852 MO 0.0049429255 MS 0.0017394547 MT 0.0043014828 NC 0.0009615385 ND 0.0043223114 NE 0.0057965363 NH 0.0445054945 NJ 0.009420759 NM 0.0085302613 NV 0.0054945055 NY 0.0113047925 OH 0.0010609011 OK 0.018780022 OR 0.0181805511 PA 0.0010297456 RI 0.0230769231 SC 0.0009267841 SD 0.0033679796 TN 0.0090027762 TX 0.0289680176 UT 0.0167847074 VA 0.0025926123 VT 0.0032051282 WA 0.0024422622 WI 0.0002699188 WV 0.0018499646 WY 0.0143290807 THE FOLLOWING EXPLAINS HOW TO OBTAIN THE NUMBER QUOTED IN FOOTNOTE 30. --USING THE FINAL SERIES FROM THE ABOVE DATA FILES FOR FIGURES 7 & 8, --THE "PROGRAM" CONSISTS OF THE FOLLOWING: PROC CORR; THE FOLLOWING DATA AND CODE CORRESPONDS TO THE SHADED INSERT ON PAGE 12. Source for Inflation is Annual U.S. Economic Data(MAY 1993, P. 8) SOURCE: BOARD OF GOVERNORS, CALL REPORTS (ONLY PULLED BANKS WITH ASSETS <= CUTTOFF) PROGRAM USED TO PROCESS THIS DATA FOLLOWS THE DATA. for 1984, banks with assets<= 50 mil for 1985, banks with assets<= 51.8 mil (50 * 1.036 gdp inflation) for 1986, banks with assets<= 53.147 2.6 infl for 1987, banks with assets<= 54.847 3.2 infl for 1988, banks with assets<= 56.932 3.8 infl for 1989, banks with assets<= 59.551 4.6 infl for 1990, banks with assets<= 62.052 4.2 infl for 1991, banks with assets<= 64.596 4.1 infl for 1992, banks with assets<= 66.275 2.6 infl OBS DATE state NUMBER ASSETS EQUITY 1 841231 AK 2 80630 6556 2 841231 AL 192 4997214 481588 4 841231 AR 166 4100420 377692 5 841231 AZ 35 701419 68151 6 841231 CA 238 6197838 728074 7 841231 CO 331 6270446 547677 8 841231 CT 16 484547 44255 9 841231 DC 5 156792 16597 10 841231 DE 5 122068 12819 11 841231 FL 217 5122732 513568 12 841231 GA 273 6536974 598483 13 841231 HI 2 18093 1818 14 841231 IA 483 10882893 982712 15 841231 ID 12 289768 23910 16 841231 IL 798 18659952 1600220 17 841231 IN 185 5180491 442253 18 841231 KS 520 9830881 856201 19 841231 KY 209 5520429 513797 20 841231 LA 149 4148013 410538 21 841231 MA 28 710587 53022 22 841231 MD 38 996957 93643 23 841231 ME 10 229846 20516 24 841231 MI 162 4539552 354740 25 841231 MN 593 12056007 1038146 26 841231 MO 511 11128288 925140 27 841231 MS 90 2479429 218946 28 841231 MT 130 2960408 253031 29 841231 NC 31 814606 79051 30 841231 ND 145 3259162 293606 31 841231 NE 405 6918787 644909 32 841231 NH 28 848809 62704 33 841231 NJ 14 483452 35344 34 841231 NM 47 1340689 119347 35 841231 NV 8 139725 20862 36 841231 NY 64 1652307 182056 37 841231 OH 163 4115084 376352 38 841231 OK 384 8224925 734460 39 841231 OR 52 1032146 83756 40 841231 PA 116 3132833 309281 41 841231 PR 2 71387 4126 42 841231 RI 5 122676 13285 43 841231 SC 48 1159184 121644 44 841231 SD 120 2299119 223707 45 841231 TN 175 4287844 330701 46 841231 TX 1140 27405403 2527604 47 841231 UT 41 860883 73255 48 841231 VA 101 2815613 243669 49 841231 VT 11 339026 25926 50 841231 WA 68 1432493 129888 51 841231 WI 426 10543938 898976 52 841231 WV 144 3863384 358642 53 841231 WY 86 1621613 138499 54 851231 AK 2 89736 5199 55 851231 AL 165 4174183 430333 56 851231 AQ 1 22995 2280 57 851231 AR 164 4220976 386761 58 851231 AZ 38 872555 75458 59 851231 CA 231 6780464 645800 60 851231 CO 339 6703015 564211 61 851231 CT 19 436362 58650 62 851231 DC 4 142186 14423 63 851231 DE 6 176592 23613 64 851231 FL 215 5177486 539126 65 851231 GA 265 6582729 611420 66 851231 HI 2 18436 1309 67 851231 IA 484 11330629 1001785 68 851231 ID 13 303358 25853 69 851231 IL 772 18802286 1590170 70 851231 IN 169 4737473 406726 71 851231 KS 514 10086931 874492 72 851231 KY 204 5743683 541455 73 851231 LA 145 4258343 381819 74 851231 MA 24 581827 52600 75 851231 MD 36 1056936 101013 76 851231 ME 10 294059 26652 77 851231 MI 147 4285387 333624 78 851231 MN 586 12488480 1078301 79 851231 MO 483 10712195 886918 80 851231 MS 79 2136712 202090 81 851231 MT 132 3003846 250147 82 851231 NC 30 738498 76581 83 851231 ND 145 3413460 308976 84 851231 NE 394 7105047 653301 85 851231 NH 19 558710 41188 86 851231 NJ 15 454542 40666 87 851231 NM 48 1344244 118462 88 851231 NV 8 176083 21289 89 851231 NY 58 1619767 180408 90 851231 OH 153 4013486 364548 91 851231 OK 386 8714821 762887 92 851231 OR 47 1015588 81081 93 851231 PA 108 3183328 323515 94 851231 PR 3 75245 6864 95 851231 RI 6 157842 18249 96 851231 SC 45 1115212 120368 97 851231 SD 116 2361525 228805 98 851231 TN 171 4462030 362298 99 851231 TX 1205 30395631 2726320 100 851231 UT 36 788519 69234 101 851231 VA 95 2679544 252816 102 851231 VT 8 279499 21702 103 851231 WA 65 1495760 128503 104 851231 WI 407 10525200 909408 105 851231 WV 131 3765339 349280 106 851231 WY 84 1627428 138808 107 861231 AK 3 124360 11794 108 861231 AL 156 4184899 425663 109 861231 AQ 1 24106 2568 110 861231 AR 159 4332511 401011 111 861231 AZ 36 868306 66751 112 861231 CA 204 6504984 565211 113 861231 CO 340 7090537 553655 114 861231 CT 19 613986 74078 115 861231 DC 4 132893 13961 116 861231 DE 4 94428 11374 117 861231 FL 218 5438852 558595 118 861231 GA 249 6723503 629301 119 861231 HI 2 19254 882 120 861231 IA 476 11554545 986244 121 861231 ID 14 421852 32524 122 861231 IL 749 19128303 1622530 123 861231 IN 150 4346225 375085 124 861231 KS 501 10084635 844996 125 861231 KY 189 5422464 512763 126 861231 LA 156 4755259 376228 127 861231 MA 21 559994 52338 128 861231 MD 32 994178 91570 129 861231 ME 7 198516 17664 130 861231 MI 126 3908508 308058 131 861231 MN 571 12722377 1048117 132 861231 MO 443 10535639 860663 133 861231 MS 72 2031285 192398 134 861231 MT 132 2979386 241522 135 861231 NC 30 765425 90392 136 861231 ND 145 3528953 316576 137 861231 NE 376 7022718 624986 138 861231 NH 18 585337 47959 139 861231 NJ 13 383223 45311 140 861231 NM 48 1405638 120928 141 861231 NV 7 148360 16994 142 861231 NY 59 1744317 196847 143 861231 OH 144 3885882 358778 144 861231 OK 389 9030248 762320 145 861231 OR 40 914369 72549 146 861231 PA 97 3081820 323661 147 861231 PR 3 118644 8448 148 861231 RI 5 136694 17512 149 861231 SC 43 1068194 133342 150 861231 SD 107 2232284 205470 151 861231 TN 160 4371538 369817 152 861231 TQ 1 2899 624 153 861231 TX 1238 32686658 2649129 154 861231 UT 34 818903 67977 155 861231 VA 89 2710997 261292 156 861231 VT 7 264458 20733 157 861231 WA 62 1514614 122190 158 861231 WI 380 10110454 857798 159 861231 WV 120 3513404 332581 160 861231 WY 78 1644639 139671 161 871231 AK 3 130834 8853 162 871231 AL 149 4040269 421956 163 871231 AQ 1 26876 3313 164 871231 AR 164 4674231 438405 165 871231 AZ 30 755149 63762 166 871231 CA 206 6835744 628668 167 871231 CO 327 6893998 544061 168 871231 CT 22 736431 106727 169 871231 DC 4 100211 11308 170 871231 DE 5 149031 17299 171 871231 FL 217 5441507 601586 172 871231 GA 244 6748793 698760 173 871231 HI 2 17858 1201 174 871231 IA 460 11379809 1010639 175 871231 ID 13 397180 31330 176 871231 IL 738 19126394 1675982 177 871231 IN 144 4489297 392905 178 871231 KS 490 10092822 862078 179 871231 KY 181 5323145 497101 180 871231 LA 146 4645844 350669 181 871231 MA 29 881750 110867 182 871231 MD 33 1115922 106250 183 871231 ME 8 266680 23746 184 871231 MI 113 3592086 298844 185 871231 MN 550 12625123 1074811 186 871231 MO 422 10466176 887946 187 871231 MS 66 2040373 192600 188 871231 MT 135 3070053 254924 189 871231 NC 33 934450 115816 190 871231 ND 143 3512446 327599 191 871231 NE 369 7219007 650784 192 871231 NH 15 477758 38608 193 871231 NJ 17 470201 57348 194 871231 NM 50 1552925 131277 195 871231 NV 7 149322 17153 196 871231 NY 51 1525480 195039 197 871231 OH 140 3946188 370159 198 871231 OK 366 8964292 740402 199 871231 OR 33 763332 61169 200 871231 PA 92 2950937 331060 201 871231 PR 3 91759 8543 202 871231 RI 3 97575 12833 203 871231 SC 41 957781 124973 204 871231 SD 106 2417556 223927 205 871231 TN 155 4419679 393725 206 871231 TQ 1 4614 601 207 871231 TX 1159 31529942 2368701 208 871231 UT 25 619431 57969 209 871231 VA 85 2619595 268144 210 871231 VT 7 242090 22342 211 871231 WA 58 1455290 119622 212 871231 WI 372 10251435 899266 213 871231 WV 111 3289541 314177 214 871231 WY 75 1720902 147953 215 881231 AK 2 71899 7346 216 881231 AL 147 4218413 443959 217 881231 AQ 1 30951 3607 218 881231 AR 159 4703794 446571 219 881231 AZ 29 794445 54751 220 881231 CA 181 6398172 575789 221 881231 CO 318 7117269 540743 222 881231 CT 20 680914 103296 223 881231 DC 7 201617 23779 224 881231 DE 6 191796 23335 225 881231 FL 225 6069835 661324 226 881231 FM 1 8918 671 227 881231 GA 251 7286660 799692 228 881231 HI 2 16236 1048 229 881231 IA 456 11765135 1108641 230 881231 ID 13 425636 30657 231 881231 IL 676 18142980 1634273 232 881231 IN 134 4285099 377607 233 881231 KS 475 10026660 860572 234 881231 KY 181 5567230 518763 235 881231 LA 136 4493372 316214 236 881231 MA 21 716903 70390 237 881231 MD 34 1201240 121348 238 881231 ME 7 266088 22164 239 881231 MI 97 3131393 264069 240 881231 MN 530 12486585 1099683 241 881231 MO 405 10223131 901422 242 881231 MS 64 2038620 191273 243 881231 MT 137 3303728 274713 244 881231 NC 33 1127543 134891 245 881231 ND 139 3450500 331262 246 881231 NE 353 7106574 662980 247 881231 NH 13 473532 38639 248 881231 NJ 29 827235 136926 249 881231 NM 48 1570699 131158 250 881231 NV 7 170228 20361 251 881231 NY 54 1592560 190744 252 881231 OH 138 3954516 411846 253 881231 OK 349 8845019 730543 254 881231 OR 32 758213 67946 255 881231 PA 93 3142454 375230 256 881231 PR 3 92524 8321 257 881231 RI 2 49389 10484 258 881231 SC 45 1216724 149728 259 881231 SD 101 2361578 218832 260 881231 TN 150 4528660 411222 261 881231 TX 1017 28522021 1991252 262 881231 UT 21 533742 53320 263 881231 VA 91 2895268 314451 264 881231 VT 6 216334 19186 265 881231 WA 59 1547655 143766 266 881231 WI 343 9985296 900124 267 881231 WV 97 2957929 280538 268 881231 WY 70 1745387 154109 269 891231 AK 2 77442 7998 270 891231 AL 147 4569873 474251 271 891231 AQ 1 32661 3941 272 891231 AR 159 4897299 474211 273 891231 AZ 25 767426 55430 274 891231 CA 165 5755212 538828 275 891231 CO 321 7253882 564153 276 891231 CT 22 735444 114513 277 891231 DC 7 243826 27488 278 891231 DE 9 255704 47995 279 891231 FL 230 6654787 728396 280 891231 FM 1 15902 1671 281 891231 GA 262 8222775 885802 282 891231 HI 2 17779 1431 283 891231 IA 450 12161745 1179272 284 891231 ID 11 333656 22727 285 891231 IL 652 18166543 1656475 286 891231 IN 120 4122008 365583 287 891231 KS 460 10138404 895699 288 891231 KY 180 5801156 536745 289 891231 LA 123 4211099 312215 290 891231 MA 17 668287 54652 291 891231 MD 37 1243972 144494 292 891231 ME 7 248985 22164 293 891231 MI 92 3168940 281609 294 891231 MN 515 12626730 1136041 295 891231 MO 386 10367529 914641 296 891231 MS 61 1998971 191906 297 891231 MT 137 3403654 294907 298 891231 NC 36 1188554 169306 299 891231 ND 140 3564346 348968 300 891231 NE 332 7026908 674452 301 891231 NH 13 456727 37674 302 891231 NJ 28 956512 122694 303 891231 NM 50 1798605 143923 304 891231 NV 7 185605 23086 305 891231 NY 60 1867851 206009 306 891231 OH 130 3940750 400776 307 891231 OK 322 8440766 720916 308 891231 OR 30 748896 67705 309 891231 PA 89 3136743 372887 310 891231 PR 3 95103 13458 311 891231 RI 2 51821 11227 312 891231 SC 45 1320634 153686 313 891231 SD 96 2296367 225273 314 891231 TN 146 4600823 445819 315 891231 TX 908 26740936 1883369 316 891231 UT 20 519954 48146 317 891231 VA 87 3024848 312912 318 891231 VT 7 247124 22791 319 891231 WA 63 1797779 161186 320 891231 WI 330 10007072 915193 321 891231 WV 97 3198411 291588 322 891231 WY 48 1199613 112088 323 901231 AK 2 42560 10321 324 901231 AL 140 4552238 455607 325 901231 AQ 1 39553 4312 326 901231 AR 152 4980783 479983 327 901231 AZ 17 556888 38382 328 901231 CA 171 6079982 566702 329 901231 CO 328 8059247 591885 330 901231 CT 22 786900 64410 331 901231 DC 10 316427 31843 332 901231 DE 10 238446 49707 333 901231 FL 231 7323260 755196 334 901231 FM 1 23163 2188 335 901231 GA 274 9125866 995215 336 901231 HI 2 19534 2232 337 901231 IA 439 12560099 1207322 338 901231 ID 11 360622 26390 339 901231 IL 621 18130825 1662393 340 901231 IN 115 4137599 375643 341 901231 KS 435 10347568 885952 342 901231 KY 177 6013457 552996 343 901231 LA 123 4466885 314259 344 901231 MA 16 597106 49625 345 901231 MD 35 1291124 134609 346 901231 ME 8 277841 24740 347 901231 MI 86 3204818 286105 348 901231 MN 499 12870886 1151719 349 901231 MO 376 10909457 952753 350 901231 MS 62 2112363 200235 351 901231 MT 135 3422853 294475 352 901231 NC 33 1183551 146745 353 901231 ND 131 3558429 335455 354 901231 NE 329 7389150 711141 355 901231 NH 17 718951 50366 356 901231 NJ 36 1235973 158272 357 901231 NM 46 1802431 138272 358 901231 NV 9 241394 34091 359 901231 NY 59 1977174 267053 360 901231 OH 127 3955166 428851 361 901231 OK 312 8661014 755325 362 901231 OR 27 621220 63099 363 901231 PA 89 3233925 401626 364 901231 PR 3 130470 19723 365 901231 RI 2 51786 11611 366 901231 SC 48 1576289 180559 367 901231 SD 95 2423382 237529 368 901231 TN 144 4891534 432740 369 901231 TX 796 24675654 1869679 370 901231 UT 20 543874 49198 371 901231 VA 86 3149964 330750 373 901231 VT 6 205032 14348 374 901231 WA 64 1899655 186719 375 901231 WI 290 9278045 855501 376 901231 WV 94 3242889 304535 377 901231 WY 48 1270690 118056 379 911231 AK 2 81968 9326 380 911231 AL 135 4574259 454924 382 911231 AR 152 5208579 507305 383 911231 AZ 17 503033 37963 384 911231 CA 171 6238357 602877 385 911231 CO 286 7795774 574403 386 911231 CT 17 656364 56423 387 911231 DC 9 233105 29519 388 911231 DE 9 305402 73071 389 911231 FL 219 7519890 738834 391 911231 GA 267 9379341 970350 393 911231 HI 2 18688 2484 394 911231 IA 426 12598244 1221704 395 911231 ID 10 381251 28656 396 911231 IL 611 18655657 1732084 397 911231 IN 101 3642759 340964 398 911231 KS 424 10649370 946873 399 911231 KY 168 6053696 553830 400 911231 LA 116 4205059 331902 401 911231 MA 17 572103 45887 402 911231 MD 32 1276973 130208 403 911231 ME 9 331763 33710 404 911231 MI 90 3465034 317828 405 911231 MN 486 13024677 1181173 406 911231 MO 368 11301892 1005454 407 911231 MS 62 2135498 211483 408 911231 MT 124 3367405 293490 409 911231 NC 37 1353143 162540 410 911231 ND 125 3436087 335603 411 911231 NE 331 7856497 760933 412 911231 NH 9 342378 24513 413 911231 NJ 31 1299036 127521 414 911231 NM 39 1540443 125860 415 911231 NV 9 294458 36142 416 911231 NY 59 2008224 190853 417 911231 OH 123 3869545 413998 418 911231 OK 303 8740291 791235 419 911231 OR 27 696918 66585 420 911231 PA 86 3325689 386607 422 911231 RI 4 81123 15563 423 911231 SC 44 1498243 168193 424 911231 SD 95 2526733 254299 425 911231 TN 138 4829507 425311 426 911231 TX 732 23589617 1879860 427 911231 UT 21 581194 55022 428 911231 VA 85 3401690 339883 429 911231 VT 4 159338 11949 430 911231 WA 59 1769309 164434 431 911231 WI 280 9396229 891049 432 911231 WV 84 3123788 300092 433 911231 WY 44 1285124 116230 434 921231 AK 1 31940 3340 435 921231 AL 130 4736376 468169 436 921231 AQ 1 43288 5443 437 921231 AR 146 5276254 511762 438 921231 AZ 15 383355 31668 439 921231 CA 160 5968936 562338 440 921231 CO 256 7650632 580352 441 921231 CT 14 616819 47210 442 921231 DC 7 211878 20355 443 921231 DE 8 284005 77499 444 921231 FL 202 7433444 749218 445 921231 FM 1 39428 7680 446 921231 GA 258 9435989 968230 447 921231 GU 1 34141 5190 448 921231 HI 1 11722 1359 449 921231 IA 415 12987667 1301662 450 921231 ID 11 448506 47219 451 921231 IL 571 17919312 1723160 452 921231 IN 96 3602190 349368 453 921231 KS 407 10753091 996936 454 921231 KY 168 6388605 593373 455 921231 LA 108 4037228 345462 456 921231 MA 16 613519 48590 457 921231 MD 27 1097831 111749 458 921231 ME 9 360645 30528 459 921231 MI 79 3210377 296171 460 921231 MN 467 13025109 1225335 461 921231 MO 349 11335095 1022490 462 921231 MS 59 2118893 211372 463 921231 MT 97 2683392 245813 464 921231 NC 32 1202805 140821 465 921231 ND 123 3502648 352067 466 921231 NE 313 7808824 780892 467 921231 NH 9 409744 35865 468 921231 NJ 24 1097458 103286 469 921231 NM 40 1562422 138783 470 921231 NV 8 307270 36169 471 921231 NY 51 1832957 209263 472 921231 OH 121 4162043 438929 473 921231 OK 285 8642861 802226 474 921231 OR 24 704601 62844 475 921231 PA 76 3149516 385446 476 921231 PR 2 91860 4585 477 921231 RI 3 77820 13463 478 921231 SC 44 1663944 169108 479 921231 SD 91 2584892 260428 480 921231 TN 129 4686500 439429 481 921231 TX 711 23859182 2011733 482 921231 UT 18 483584 46775 483 921231 VA 71 2924992 300052 484 921231 VT 3 96465 7339 485 921231 WA 58 1923832 170535 486 921231 WI 264 9210005 886940 487 921231 WV 79 3202974 314335 488 921231 WY 45 1342173 127763 THIS CODE USES THE ABOVE DATA AND THE "UNPROCESSED" STATE BANK DATA IN FIGURE 8. THE NUMBER OF BANK DATA FOR THAT FIGURE WAS IN THE SAME FORMAT AS THE ABOVE DATA. DATA ALL; INFILE 'H1KMW00.DAVEW1.CNTL(STATEBNK)' FIRSTOBS=4; INPUT JUNK DATE STATE $ NUMBER1 ASSETS1 EQUITY1; YEAR = ((DATE-1231)/10000)+1900; IF YEAR >= 1984; IF STATE='PR' OR STATE='VI' OR STATE='GU' OR STATE='AQ' OR STATE='TQ' OR STATE='DC' OR STATE='FM' THEN DELETE; DROP JUNK DATE; PROC SORT; BY YEAR STATE ; DATA SMALL; INFILE 'H1KMW00.WORK1.CNTL(SMALLBNK)' FIRSTOBS=14; INPUT JUNK DATE STATE $ NUMBER2 ASSETS2 EQUITY2; YEAR = ((DATE-1231)/10000)+1900; IF STATE='PR' OR STATE='VI' OR STATE='GU' OR STATE='AQ' OR STATE='TQ' OR STATE='DC' OR STATE='FM' THEN DELETE; DROP JUNK DATE; PROC SORT; BY YEAR STATE ; DATA COMBO; MERGE ALL SMALL; BY YEAR STATE; PROC MEANS DATA=COMBO SUM; BY YEAR; VAR NUMBER1 NUMBER2 ASSETS1 ASSETS2 EQUITY1 EQUITY2; OUTPUT OUT=AGGREGAT SUM=; DATA AGGREGAT;SET AGGREGAT; NUMRAT = NUMBER2 / NUMBER1; ASSETRAT = ASSETS2 / ASSETS1; EQUITRAT = EQUITY2 / EQUITY1; PROC PRINT;