Statistics, Facts & Such
The FDIC reports that at the end of 1996 there were 9,528 main offices of commercial banks in the United States, with 57,788 branches. 25 years ago there were 13,511 main offices and 21,839 branches. ATMs are not included in the numbers.
There are 650,000 stockbrokers in the U.S. The SEC & the NASD, the stockbrokers regulatory agencies, have 2,442 regulators. That works out to one regulator for every 266 brokers.
There were 128,700 Form 8300 (Report of Cash Payments Over $10,000 received in a Trade or Business) filed with the IRS last year.
The Bureau of National Affairs shows 1.2% of the work force quit and change jobs each month, a number which concerns personnel offices of financial institutions. The highest turnover is at call centers where employees talk to customers on the phone all day. (See Training Page #63 - page 4 in this issue.)
Hewitt Associates, a management consulting firm, says replacing an employee costs one to one-and-a-half times the departed worker's annual salary.
An ATM placement salesman says 1000 ATMs can handle more transactions in a year's time than 2000 tellers.
Copyright © 1997 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 7, No. 11, 9/97
First published on 09/01/1997