Bank Health,
Quarter by Quarter

Start with the map the title promises. Each state is shaded by the number of FDIC-insured banks headquartered there - a count of charters, not branches. The dark band is the farm belt: 382 banks call Texas home, and the upper Midwest still runs hundreds of small community banks apiece. The coasts run comparatively few, larger banks. Together these 4,581 charters hold the nation's deposits.

Every state, in a table

State	Banks	Assets	Weighted ROA
Texas TX	382	$1.2T	1.18%
Illinois IL	329	$980B	1.02%
Iowa IA	244	$210B	1.21%
Minnesota MN	241	$470B	1.24%
Missouri MO	214	$380B	1.09%
Kansas KS	198	$150B	1.13%
Oklahoma OK	166	$210B	1.19%
Wisconsin WI	151	$260B	1.16%
California CA	151	$980B	0.98%
Nebraska NE	148	$180B	1.22%
Georgia GA	141	$520B	1.07%
Ohio OH	140	$5.1T	1.28%
Pennsylvania PA	130	$690B	1.06%
Tennessee TN	124	$330B	1.15%
Kentucky KY	116	$150B	1.14%
Indiana IN	107	$240B	1.11%
Alabama AL	107	$340B	1.16%
Louisiana LA	98	$140B	1.08%
New York NY	95	$2.1T	1.02%
Florida FL	95	$460B	1.05%
Massachusetts MA	95	$640B	1.08%
Michigan MI	78	$300B	1.09%
Virginia VA	77	$640B	1.11%
Arkansas AR	72	$150B	1.20%
Colorado CO	69	$210B	1.12%
North Dakota ND	66	$60B	1.24%
Mississippi MS	64	$130B	1.19%
North Carolina NC	61	$3.6T	0.92%
New Jersey NJ	59	$320B	1.03%
South Dakota SD	56	$3.5T	1.31%
Montana MT	46	$40B	1.18%
Washington WA	45	$190B	1.07%
West Virginia WV	45	$90B	1.12%
South Carolina SC	43	$130B	1.13%
Utah UT	41	$640B	1.62%
Maryland MD	40	$190B	1.04%
New Mexico NM	37	$50B	1.10%
Connecticut CT	33	$190B	1.00%
Oregon OR	24	$90B	1.05%
Wyoming WY	23	$30B	1.14%
Delaware DE	22	$1.2T	1.44%
Maine ME	19	$60B	1.02%
Arizona AZ	16	$120B	1.06%
New Hampshire NH	15	$40B	1.01%
Nevada NV	12	$90B	1.15%
Idaho ID	11	$40B	1.09%
Vermont VT	11	$30B	1.03%
Rhode Island RI	7	$260B	0.85%
Hawaii HI	7	$80B	1.11%
District of Columbia DC	6	$20B	0.95%
Alaska AK	4	$20B	1.07%

Illustrative stand-ins in the real FDIC shape. Banks = active insured institutions with a head office in the state (BankFind STALP). Assets are booked at the charter's HQ, so states hosting one megabank charter (Ohio, North Carolina, South Dakota, Delaware) carry trillions that are transacted nationwide - a real quirk of where charters sit, not where the money is spent. Swap-point and fetch steps in HANDOFF.md.

Assets are the size of the bank. The top four charters alone hold more than the next fifty combined - and the gap is the whole story of the industry. Beside each name: how fast it grew over the year, and how much of its loan book is going bad. Growth above 0 and noncurrent loans below the 0.62% national line are the healthy reading.

1. 01
   JPMorgan Chase Bank, N.A. Columbus, OH · N
   $4.02T
   1Y +6.1% NPL 0.55%
2. 02
   Bank of America, N.A. Charlotte, NC · N
   $2.67T
   1Y +2.4% NPL 0.48%
3. 03
   Citibank, N.A. Sioux Falls, SD · N
   $1.93T
   1Y -1.2% NPL 0.71%
4. 04
   Wells Fargo Bank, N.A. Sioux Falls, SD · N
   $1.89T
   1Y -0.8% NPL 0.62%
5. 05
   U.S. Bank, N.A. Cincinnati, OH · N
   $663B
   1Y +1.1% NPL 0.44%
6. 06
   Goldman Sachs Bank USA New York, NY · NM
   $555B
   1Y +3.7% NPL 0.39%
7. 07
   PNC Bank, N.A. Wilmington, DE · N
   $552B
   1Y +0.9% NPL 0.51%
8. 08
   Truist Bank Charlotte, NC · NM
   $519B
   1Y -2.1% NPL 0.53%
9. 09
   Capital One, N.A. McLean, VA · N
   $479B
   1Y +4.8% NPL 1.14%
10. 10
    TD Bank, N.A. Wilmington, DE · N
    $372B
    1Y -3.4% NPL 0.61%
11. 11
    The Bank of New York Mellon New York, NY · SM
    $335B
    1Y +2.9% NPL 0.21%
12. 12
    State Street Bank and Trust Boston, MA · SM
    $298B
    1Y +1.6% NPL 0.18%
13. 13
    Charles Schwab Bank, SSB Westlake, TX · SB
    $288B
    1Y -4.9% NPL 0.12%
14. 14
    First-Citizens Bank & Trust Raleigh, NC · NM
    $221B
    1Y +58.0% NPL 0.72%
15. 15
    Citizens Bank, N.A. Providence, RI · N
    $221B
    1Y -0.6% NPL 0.71%

Bar length is total assets on a shared scale (top bank = full width). The NPL chip turns oxblood when noncurrent loans exceed the 0.62% national average; the 1Y chip is muted when assets shrank. First-Citizens' outsized growth reflects its 2023 acquisition of the failed Silicon Valley Bridge Bank.

Sort the same 4,497 banks by size and the shape of the industry appears. The top bar is every charter, split by asset tier; the bottom bar is every dollar of assets, split the same way. They are near mirror images. More than three thousand community banks are the overwhelming majority of the count and less than a tenth of the money; a dozen mega-institutions are the reverse, holding 44% of all assets. Where the two bars invert is the concentration of American finance.

• Community < $1B
• Midsize $1B - $10B
• Regional $10B - $50B
• Super-regional $50B - $250B
• Mega > $250B

Every tier, in a table

Tier	Range	Banks	Share of banks	Share of assets
Mega	> $250B	12	0.3%	43.5%
Super-regional	$50B - $250B	70	1.6%	20.3%
Regional	$10B - $50B	285	6.3%	15.7%
Midsize	$1B - $10B	1,010	22.5%	12.1%
Community	< $1B	3,120	69.4%	8.4%

Illustrative figures in the real FDIC shape. Share of banks is the count of charters in the tier; share of assets is their combined size. Real figures bin the institutions census by the ASSET column; swap-point in HANDOFF.md.

Net income is what the industry actually earned each quarter. It runs a steady $60-to-$80 billion - except 2023 Q4, when a one-time deposit-insurance special assessment (levied to cover the 6 failures of the shakeout) cut profits by nearly half and dragged industry return on assets to a floor. The ROA line below reads the same story as a rate.

Quarterly figures, in a table

Quarter	Assets ($T)	Net income ($B)	ROA	Banks	Failures
2022 Q1	23.6	59.7	1.00%	4,796	0
2022 Q2	23.4	64.4	1.08%	4,771	0
2022 Q3	23.5	71.7	1.19%	4,746	0
2022 Q4	23.7	68.4	1.12%	4,715	0
2023 Q1	23.7	79.8	1.28%	4,672	2
2023 Q2	23.9	70.8	1.17%	4,645	1
2023 Q3	23.6	68.4	1.13%	4,614	1
2023 Q4	23.7	38.4	0.63%	4,587	1
2024 Q1	23.8	64.3	1.06%	4,568	0
2024 Q2	24.0	71.5	1.16%	4,539	1
2024 Q3	24.2	65.4	1.06%	4,517	0
2024 Q4	24.4	66.8	1.08%	4,487	0

Illustrative industry aggregates in the real FDIC shape. Note the bank count falls every quarter - from consolidation, not failure. Real figures roll up from the per-bank financials.csv panel over REPDTE; see HANDOFF.md.

Here is the pressure the earnings line never shows. As the Federal Reserve raised rates through 2022, the bonds banks already held lost market value, and the industry's unrealized loss on its securities book ballooned past $685B. On paper it costs nothing - until depositors leave and a bank must sell those bonds at a loss to pay them. That is exactly the trap Silicon Valley Bank walked into in 2023 Q1, with roughly $515B of such losses still sitting across the industry.

Unrealized losses by quarter, in a table

Quarter	Unrealized loss ($B)	Failures
2022 Q1	205	0
2022 Q2	445	0
2022 Q3	685	0
2022 Q4	618	0
2023 Q1	515	2
2023 Q2	558	1
2023 Q3	684	1
2023 Q4	478	1
2024 Q1	517	0
2024 Q2	513	1
2024 Q3	364	0
2024 Q4	482	0

Illustrative levels in the real FDIC shape - the trajectory (a 2022 run-up, a standing overhang since) tracks the real Quarterly Banking Profile, but the exact billions are stand-ins. Real figures roll up from the securities schedule (available-for-sale and held-to-maturity marks) over REPDTE; see HANDOFF.md.

In the spring of 2023 three regional banks failed in eight weeks - Silicon Valley Bank, Signature, and First Republic - carrying more than $538B in assets between them, the largest failures since 2008. Then the panic passed and the pattern reverted to what it usually is: a handful of small community banks a year, orders of magnitude smaller. The timeline plots every failure since 2023 by date and by assets at failure, on a log scale - the only way three giants and a $50M community bank share one frame.

Every failure, in a table

Bank	Failed	Assets	DIF cost
Silicon Valley Bank Santa Clara, CA	Mar 10, 2023	$209B	$18.9B
Signature Bank New York, NY	Mar 12, 2023	$110B	$2.5B
First Republic Bank San Francisco, CA	May 1, 2023	$213B	$15.6B
Heartland Tri-State Bank Elkhart, KS	Jul 28, 2023	$140M	$40M
Citizens Bank Sac City, IA	Nov 3, 2023	$60M	$10M
Republic First Bank Philadelphia, PA	Apr 26, 2024	$6.0B	$670M
The First National Bank of Lindsay Lindsay, OK	Oct 18, 2024	$110M	$40M
Pulaski Savings Bank Chicago, IL	Nov 15, 2024	$50M	$30M

Illustrative figures traced on the real FDIC failures list. DIF cost is the FDIC's estimated hit to the Deposit Insurance Fund - the industry-funded pool that makes insured depositors whole; the 2023 special assessment in the earnings section is how the industry repaid it. The section filters FAILYR >= 2023; swap-point in HANDOFF.md.

Size is not the same as safety. Plot each of the fifteen largest banks by how fast it grew over the year against how much of its loan book has gone bad, and the field splits four ways. The banks to watch sit in the upper right - expanding and carrying above-average noncurrent loans. The consumer-credit lenders, Capital One, Discover, American Express, live there by design: higher charge-offs are the price of higher yields. 4 of the fifteen sit above the national noncurrent-loan line.

• At or below the national loan line
• Above it (more bad debt)
• Bubble area = total assets

The fifteen, in a table

Bank	Assets	1Y growth	Noncurrent loans	vs national
JPMorgan Chase Bank, N.A.	$4.02T	+6.1%	0.55%	at/below
Bank of America, N.A.	$2.67T	+2.4%	0.48%	at/below
Citibank, N.A.	$1.93T	-1.2%	0.71%	above
Wells Fargo Bank, N.A.	$1.89T	-0.8%	0.62%	at/below
U.S. Bank, N.A.	$663B	+1.1%	0.44%	at/below
Goldman Sachs Bank USA	$555B	+3.7%	0.39%	at/below
PNC Bank, N.A.	$552B	+0.9%	0.51%	at/below
Truist Bank	$519B	-2.1%	0.53%	at/below
Capital One, N.A.	$479B	+4.8%	1.14%	above
TD Bank, N.A.	$372B	-3.4%	0.61%	at/below
The Bank of New York Mellon	$335B	+2.9%	0.21%	at/below
State Street Bank and Trust	$298B	+1.6%	0.18%	at/below
Charles Schwab Bank, SSB	$288B	-4.9%	0.12%	at/below
First-Citizens Bank & Trust	$221B	+58.0%	0.72%	above
Citizens Bank, N.A.	$221B	-0.6%	0.71%	above

Illustrative figures in the real FDIC call-report shape. Noncurrent loans are loans 90+ days past due or nonaccrual as a share of the loan book (a NPERFV-derived field); the national average is itself an illustrative baseline. Swap-point in HANDOFF.md.

After the drama, the reassurance. A bank's Tier 1 leverage ratio is its capital measured against its assets - how much of the balance sheet can evaporate before the bank is insolvent. Regulators call a bank well-capitalized at 5%. The distribution of all 4,262 insured banks does not cluster near that floor; it clusters more than twice above it, around 11-12%. The failures were about liquidity - cash to meet a run - far more than solvency.

Capital distribution, in a table

Tier 1 leverage band	Banks	Share
< 8%	41	1.0%
8-9%	210	4.9%
9-10%	742	17.4%
10-11%	1,105	25.9%
11-12%	812	19.1%
12-13%	476	11.2%
13-15%	560	13.1%
> 15%	316	7.4%
All insured banks	4,262	100.0%

Illustrative counts in the real FDIC shape. Tier 1 leverage is core capital over average total assets (RBCT1J); the well-capitalized threshold is 5%. Real figures bin the latest-quarter financials panel; swap-point in HANDOFF.md.