How many new banks opened in the United States last year? 500? 50? 5? Nope, only two. Yes, two new banks. Last year was the fourth consecutive year of declines in new bank charters—a clear parallel and indicator of the financial crisis and our challenging economic times. Going back to 2007, there were 155 bank charters activated in that year.
These statistics made me think of what I heard motivational and leadership speaker Tom Flick recently say: “You’re moving forward or you’re falling behind.” So true, so true…
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