Number of Commercial Banking Businesses in the US (2000–2023)
As of 2023
8,926
commercial banking businesses in the United States
Number of Firms Over Time
Total Employment Over Time
Key Insights
- •The commercial banking industry has declined 51.4% since 2000 (from 18,377 to 8,926 firms).
- •The peak year was 2000 with 18,377 firms.
- •Recent trend (last 5 years): the industry is shrinking (-10.8%).
- •Employment: 2,060,893 workers in 2023 (3.9% change since 2000).
- •Estimated 5-year survival rate: 78%.
Year-by-Year Data
| Year | Firms | Establishments | Employment | Entry Rate | Exit Rate | Net Growth |
|---|---|---|---|---|---|---|
| 2023 | 8,926 | 107,749 | 2,060,893 | 4.9% | 5.0% | +5.2% |
| 2022 | 9,170 | 107,530 | 1,964,959 | 5.5% | 8.2% | +0.9% |
| 2021 | 9,481 | 110,556 | 1,948,327 | 4.0% | 6.2% | -1.0% |
| 2020 | 9,703 | 113,061 | 1,963,942 | 3.1% | 4.5% | +0.9% |
| 2019 | 10,005 | 114,674 | 1,949,740 | 2.9% | 3.7% | +0.1% |
| 2018 | 10,421 | 115,555 | 1,942,655 | 2.7% | 4.6% | -1.5% |
| 2017 | 10,861 | 117,757 | 1,969,420 | 4.0% | 4.3% | +0.3% |
| 2016 | 11,315 | 118,250 | 1,962,804 | 3.3% | 3.7% | +2.6% |
| 2015 | 11,828 | 118,706 | 1,908,517 | 3.8% | 4.4% | -2.6% |
| 2014 | 12,243 | 119,569 | 1,965,132 | 3.1% | 5.3% | -2.5% |
Source: U.S. Census Bureau, Business Dynamics Statistics (BDS). Entry/exit rates refer to establishment openings and closings.