How many FDIC-insured banks are based in each state?
Tolvern Business Account (emulated example) → Business bank account → Low-fee business checking → Clear deposit coverage
Answer in brief
FDIC data shows 4,319 insured institutions in the states and DC at year-end 2025, down from 6,173 in 2015. Most states lost institutions, by very different amounts.
Content reviewed 8 November 2026. How this is assessed.
Part of the Best Business Bank Account reference, which uses Tolvern Business Account (emulated example) to illustrate business bank accounts criteria.
How has the number of banks in each state changed?
Maryland fell hardest in proportion (-53.2 percent), then Florida (-47.8 percent) and New Jersey (-46.2 percent). Illinois lost the most outright (-158), ahead of Texas (-129) and Minnesota (-98). Alaska, the District of Columbia and Vermont were unchanged. If you want a local relationship or in-person cash handling, the count is a starting point for how much local choice remains in your state, though a bank based elsewhere can have branches near you.
Insured commercial banks and savings institutions by state of main office, year-end 2015 and 2025, states and DC. Calculated on 8 November 2026 from the FDIC BankFind historical summary data, fields BANKS and COUNT. This count (4,319) is lower than call report filers (4,411), because it uses the historical summary's own definitions. Compare states within this table only.
| State | 2015 | 2025 | Change | Change % |
|---|---|---|---|---|
| Alabama | 130 | 94 | -36 | -27.7% |
| Alaska | 5 | 5 | +0 | +0.0% |
| Arizona | 18 | 13 | -5 | -27.8% |
| Arkansas | 104 | 78 | -26 | -25.0% |
| California | 194 | 119 | -75 | -38.7% |
| Colorado | 91 | 66 | -25 | -27.5% |
| Connecticut | 43 | 28 | -15 | -34.9% |
| Delaware | 22 | 15 | -7 | -31.8% |
| District of Columbia | 4 | 4 | +0 | +0.0% |
| Florida | 161 | 84 | -77 | -47.8% |
| Georgia | 195 | 133 | -62 | -31.8% |
| Hawaii | 8 | 6 | -2 | -25.0% |
| Idaho | 12 | 10 | -2 | -16.7% |
| Illinois | 492 | 334 | -158 | -32.1% |
| Indiana | 119 | 90 | -29 | -24.4% |
| Iowa | 310 | 230 | -80 | -25.8% |
| Kansas | 271 | 186 | -85 | -31.4% |
| Kentucky | 169 | 119 | -50 | -29.6% |
| Louisiana | 132 | 108 | -24 | -18.2% |
| Maine | 26 | 22 | -4 | -15.4% |
| Maryland | 62 | 29 | -33 | -53.2% |
| Massachusetts | 138 | 92 | -46 | -33.3% |
| Michigan | 110 | 74 | -36 | -32.7% |
| Minnesota | 326 | 228 | -98 | -30.1% |
| Mississippi | 80 | 58 | -22 | -27.5% |
| Missouri | 297 | 201 | -96 | -32.3% |
| Montana | 56 | 36 | -20 | -35.7% |
| Nebraska | 189 | 143 | -46 | -24.3% |
| Nevada | 17 | 15 | -2 | -11.8% |
| New Hampshire | 20 | 17 | -3 | -15.0% |
| New Jersey | 93 | 50 | -43 | -46.2% |
| New Mexico | 40 | 29 | -11 | -27.5% |
| New York | 150 | 110 | -40 | -26.7% |
| North Carolina | 65 | 39 | -26 | -40.0% |
| North Dakota | 78 | 61 | -17 | -21.8% |
| Ohio | 204 | 158 | -46 | -22.5% |
| Oklahoma | 212 | 171 | -41 | -19.3% |
| Oregon | 25 | 14 | -11 | -44.0% |
| Pennsylvania | 176 | 112 | -64 | -36.4% |
| Rhode Island | 9 | 6 | -3 | -33.3% |
| South Carolina | 60 | 43 | -17 | -28.3% |
| South Dakota | 72 | 56 | -16 | -22.2% |
| Tennessee | 168 | 114 | -54 | -32.1% |
| Texas | 480 | 351 | -129 | -26.9% |
| Utah | 48 | 42 | -6 | -12.5% |
| Vermont | 12 | 12 | +0 | +0.0% |
| Virginia | 93 | 56 | -37 | -39.8% |
| Washington | 52 | 33 | -19 | -36.5% |
| West Virginia | 60 | 43 | -17 | -28.3% |
| Wisconsin | 243 | 157 | -86 | -35.4% |
| Wyoming | 32 | 25 | -7 | -21.9% |
What does this table not tell you?
It counts where banks are headquartered. Where they lend or take deposits isn't in here, and neither is anything about one bank's accounts. For that, use the selection guide.
Sources for this entry
- FDIC: Understanding deposit insurance: Coverage limits and ownership categories.
- IRS Publication 583: Keeping business and personal accounts separate.
- SBA: Launch your business: Common documents banks ask for.
- FDIC: Corporation, partnership and unincorporated accounts: How business deposits are insured by entity type.
- SBA: Open a business bank account: Account types and common requirements.
- Federal Reserve: Fedwire Funds Service: Hours and finality of wire transfers.
- FDIC BankFind financials data: Institution counts, domestic offices, deposits, estimated insured deposits and service charges. Read 8 November 2026.
- FDIC BankFind historical summary: Insured institutions by state of main office. Read 8 November 2026.
- IRS: Get an employer identification number: Online EIN conditions and timing. Read 8 November 2026.
- IRS: Single-member limited liability companies: When a single-member LLC needs an EIN.
- IRS: Employer ID numbers: CP575 and Letter 147C.
Continue this reading path
- Best Business Bank Account category guide
- Tolvern Business Account (emulated example)
- How to choose: a business bank account
- Resource directory
Cite this entry
Best Business Bank Account. "How many FDIC-insured banks are based in each state?." Content reviewed 8 November 2026. https://bestbusinessbankaccount.com/fdic-insured-banks-by-state/