Each year the Banking Supervision Department of the Minneapolis Fed prepares a report on the conditions of Ninth District banks. The following summary, from a report by James Lyon, vice president of banking supervision, describes the banks' 1990 performance.
The overall condition of Ninth District banks improved steadily over the latter half of the 1980s from the low reached in 1986. While 1990 did not represent the degree of adversity for Ninth District banks that it did for those in some other regions of the country, the strengthening trend of prior years slowed considerably and in some cases reversed.
Ninth District bank facts
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The 1,225 commercial banks in the Ninth Federal Reserve District range in size from $3 million to $13 billion in assets. The number of district banks has declined in each of the last 11 years, falling by 201, or 14 percent.
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The majority of the banks, 639 (52 percent) are located in Minnesota, followed by Montana at 160 (13 percent), North Dakota at 149 (12 percent), South Dakota 128 (10 percent), northwestern Wisconsin 112 (9 percent) and the Upper Peninsula (U.P.) of Michigan 37 (3 percent).
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The Minneapolis/St. Paul MSA (metropolitan statistical area) includes 147 banks and combined assets of $35.4 billion, or 41 percent of the district's banking assets.
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Most district banks are small: 42 percent are under $25 million in assets, while just 2 percent are over $300 million in assets.
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Bank asset distribution by state: Minnesota 63.5 percent, South Dakota 9.9, North Dakota 8.7, Montana 8.4, northwestern Wisconsin 6.7 and U.P. Michigan 2.8.
