If Your Local Banker Has Gone AWOL, Maybe This is Why...
In 2000, Arizona banks held $43 billion in deposits. In 2007 the total was $80 billion, the lion's share controlled by three large national banks. Arizona is third behind Alaska and California in terms of the fewest bank branches per capita. Plenty of room for newcomers, even if all they ever grab is a sliver of market share. Making Phoenix an obvious place to open a bank....
