The 2021 Summary of Deposits data reflect the effects of the COVID-19 pandemic, changing spending patterns, and government stimulus programs on deposit levels and the number of branch openings and closures. This article evaluates changes in community banks compared with those of noncommunity banks. A special feature discusses branch openings and closings of minority depository institutions. This article also evaluates the likely effect on branch levels of increased availability and use of mobile and electronic banking applications. Responses from the 2021 Summary of Deposits survey show that deposit growth rates for the industry were higher than pre-pandemic growth rates. However, deposit growth rates have moderated compared with the record highs in 2020. Over the past year, deposit growth rates have been higher among community banks compared with those of noncommunity banks. In 2021, the decline in the number of branches accelerated from a year ago, with branches of noncommunity banks closing at a higher rate compared with that of community banks.
Last Updated: November 19, 2025