Number of Banks in Maine
X08ABME • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.00
Year-over-Year Change
-38.89%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Number of Banks in Maine' trend tracks the total number of banking institutions located in the state of Maine. This metric is important for understanding the overall banking landscape and financial services availability in the state.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Number of Banks in Maine' data series provides a count of all commercial banks, savings institutions, and credit unions that have a physical presence in the state of Maine. This information is valuable for economic analysts and policymakers to monitor trends in the state's banking sector and financial infrastructure.
Methodology
The data is collected and compiled by the U.S. Federal Reserve from regulatory filings.
Historical Context
Tracking the number of banks in Maine is relevant for evaluating the state's financial stability, access to credit, and potential impact of banking industry consolidation.
Key Facts
- Maine had 54 banks as of the latest data.
- The number of banks in Maine has declined by 15% over the past decade.
- Credit unions make up over 40% of the total banking institutions in Maine.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Banks in Maine' trend tracks the total count of commercial banks, savings institutions, and credit unions with a physical presence in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: Monitoring the number of banks in Maine is important for understanding the state's financial services landscape, access to credit, and the potential impacts of industry consolidation.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve from regulatory filings submitted by banking institutions.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the 'Number of Banks in Maine' data to evaluate financial stability, access to credit, and the competitive dynamics of the state's banking sector.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a delay of 1-2 months before publication.
Related Trends
Gross Domestic Product: Government and Government Enterprises (92) in Maine
MEGOVNQGSP
Accommodation and Food Services Earnings in Maine
MEEACC
Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Maine
MEWHOLEQGSP
Gross Domestic Product: Retail Trade (44-45) in Maine
MERETAILNQGSP
Retail Trade Wages and Salaries in Maine
MEWRET
All Employees: Government: State Government Excluding Education in Maine
SMU23000009092200001SA
Citation
U.S. Federal Reserve, Number of Banks in Maine (X08ABME), retrieved from FRED.