Banking Practice Exam

Question: 1 / 400

At the end of 2013, there were approximately ______ independent banks and thrifts in operation in the United States.

300

1,800

The answer of approximately 1,800 independent banks and thrifts in operation in the United States at the end of 2013 is supported by data reflecting the ongoing changes in the banking industry at that time. The period after the financial crisis of 2008 saw significant consolidation and restructuring within the banking sector, which led to the closure and merging of many institutions. By 2013, the total number of independent banks and thrifts had stabilized at a much lower figure compared to pre-financial crisis levels, and the number around 1,800 accurately reflects this trend.

During this time, many banks were facing increased regulatory scrutiny and economic pressure, contributing to the shrinking number of independent entities in the market. This context emphasizes the significance of the 1,800 figure, as it illustrates both the impact of the financial crisis and the ongoing dynamics within the banking landscape at that time.

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4,200

6,300

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