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Economic Perspectives, Vol. 4, No. 5, 1978
Multibank Holding Company Expansion in Michigan
Michigan has only 365 banks, the fewest of any of the five states making up the Seventh Federal Reserve District. Even Wisconsin, with deposits totaling only about half the $36 billion in Michigan, has well over 600 banks. Illinois, with practically no branching, has considerably more than 1,200 banks. In Michigan, where deposits total only a little over half the deposits in Illinois, there are roughly 1,600 branches.
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