Multibank Holding Company Expansion in Michigan
Last Updated: 09/29/78
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.