Banking Deposits
The amount of banking deposits provides an indication of the amount of money available to loan to local businesses and individuals. Deposits at commercial banks, savings institutions, and federal banks that are insured by the Federal Deposit Insurance Corporation (FDIC) are presented on Arizona Indicators. Annual data as of June 30 go back to 1994 for Arizona and the 15 Arizona counties. The inflation-adjusted percent changes in deposits are shown through the latest year. The figures are adjusted for inflation using the national gross domestic product implicit price deflator (GDP deflator). In addition, banking deposits are compared to the size of the economy, as measured by personal income. However, the release of the personal income data lag 18 months behind the banking deposit data.
Banking deposits on June 30 are reported by the Federal Deposit Insurance Corporation: http://www4.fdic.gov/SOD (click on ‘View Summary of Deposits Data’). The data are updated in October
Personal income data are from the U. S. Department of Commerce, Bureau of Economic Analysis. Preliminary annual data for the state are released in March, with revised annual data reported in September, available at http://www.bea.gov/regional/spi/default.cfm?selTable=summary. County data are released annually 16 months after the end of a year: http://www.bea.gov/regional/reis/default.cfm?catable=CA1-3§ion=2.
The GDP deflator is available from the U.S. Department of Commerce, Bureau of Economic Analysis: http://www.bea.gov/national/nipaweb/SelectTable.asp?Selected=Y (Table 1.1.9).
Deposits are limited to those at FDIC-insured institutions. Misreporting by banks to the FDIC occur, causing erroneous large annual changes, which are most noticeable in the less populous counties. The data are sometimes revised.
Banking Deposits Per $1,000 of Personal Income, 2009
Visualization Notes:
The amount of banking deposits relative to the size of the economy, as measured by personal income, varies widely by county. Counties with a sizable retiree population tend to have higher figures; the very high figure in Santa Cruz County likely is related to deposits made by residents of Mexico. Though bank deposit data exist for 2010, the latest personal income data by county are for 2009.
Banking Deposits Per $1,000 of Personal Income
Visualization Notes:
The amount of banking deposits relative to the size of the economy, as measured by personal income, has fluctuated in Arizona since 1994. The figure declined by 19 percent during the mid-to-late 1990s, likely due to people shifting their savings from bank deposits into the stock market. Following a recovery in deposits from 2001 through 2005 that brought the value almost back to the 1994 level, deposits per $1,000 of personal income fell in 2007 and 2008, though by only 9 percent. Since then, the figure has climbed almost back to the 2005 value.
Annual fluctuations are larger in the less populous counties, making it difficult to identify trends. Apache, Greenlee, Pinal, and Santa Cruz counties in recent years have been lower than the historical norm in the amount of banking deposits per $1,000 of personal income.
Banking Deposits, Inflation-Adjusted Percent Change, 2011
Visualization Notes:
Arizona experienced an inflation-adjusted decrease in banking deposits in 2011, with deposits falling in 11 of the 15 counties.
Banking Deposits, Inflation-Adjusted Percent Change
Visualization Notes:
A decrease in inflation-adjusted banking deposits in Arizona in 2011 wiped out the gain that occurred in 2010. Comparing inflation-adjusted deposits in 2011 to those at the peak of the last cycle in 2006, the 2011 figure was lower in nine counties and the same in two counties. The state’s figure was 2.2 percent less in 2011.
Data Source
Banking deposits on June 30 are reported by the Federal Deposit Insurance Corporation: http://www4.fdic.gov/SOD (click on ‘View Summary of Deposits Data’). The data are updated in October
Personal income data are from the U. S. Department of Commerce, Bureau of Economic Analysis. Preliminary annual data for the state are released in March, with revised annual data reported in September, available at http://www.bea.gov/regional/spi/default.cfm?selTable=summary. County data are released annually 16 months after the end of a year: http://www.bea.gov/regional/reis/default.cfm?catable=CA1-3§ion=2.
The GDP deflator is available from the U.S. Department of Commerce, Bureau of Economic Analysis: http://www.bea.gov/national/nipaweb/SelectTable.asp?Selected=Y (Table 1.1.9).
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