Independent Banker - April 2019 - 13

The State of Banking
History Lesson
Connecticut
40
banking institutions
Total assets:
$112.6 billion
The Bridgeport-StamfordNorwalk
area has the
largest deposit market with
$47.5 billion
in deposits
Median ROA:
0.80%
Residential real estate
has the highest loan
concentration at
317%
Source: FDIC Q3-18 statistics
A second life for beat-up bills
Shredded currency is finding new life in all sorts of creative ways.
Even though they start out crisp and clean, dollar bills endure considerable
wear and tear in their lifetimes.
The bill that lasts the longest, on average, is the $100 bill, which
survives 15 years. Lower-value $5 and $10 bills, which get used more, are
worn out after four or fi ve years, according to the Federal Reserve Bank of
New York. Even if they
manage to make it a
couple decades, several
denominations of
bills are automatically
pulled from the money
supply when they hit a
certain age.
Life of a note
7.7
Quick stat
6.3 million
consumers say they want to change
their bank in the next year. Another
31 million people are on the fence.
Source: Resonate State of the Consumer Report 2019
What happens to
dollars postmortem?
The Federal Reserve
used to burn bills
that were taken out
of circulation, but it
has embraced new,
more environmentally
conscious solutions.
5.9
4.9
4.2
3.7
$1 $5 $10 $20 $50 $100
Source: Federal Reserve Bank of New York
Denomination of bill
Nearly all-90 percent-of old bills fi nd new life in gardens and houses,
and as a source of fuel. The currency is shredded and used to make
compost, potting soil, housing insulation, roofi ng shingles and fuel pellets.
Recycling plants in Los Angeles, Philadelphia and Seattle, among other
cities, burn shredded currency to generate electricity.
For the most creative green confetti ever, the Bureau of Engraving
and Printing sells prepackaged bags of shredded bills as souvenirs. The
bags have reportedly weighed as much as 5 pounds and held as much as
$10,000 of worthless bills. -Julie Kendrick
independentbanker.org Q 13
15
Life expectency (years)

http://www.independentbanker.org

Independent Banker - April 2019

Table of Contents for the Digital Edition of Independent Banker - April 2019

Table of Contents
Independent Banker - April 2019 - Cover1
Independent Banker - April 2019 - Cover2
Independent Banker - April 2019 - Table of Contents
Independent Banker - April 2019 - 2
Independent Banker - April 2019 - 3
Independent Banker - April 2019 - 4
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Independent Banker - April 2019 - Cover3
Independent Banker - April 2019 - Cover4
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https://www.nxtbook.com/mspc/independentbanker/december2022
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https://www.nxtbook.com/mspc/independentbanker/september2022
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https://www.nxtbook.com/mspc/independentbanker/april2022
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https://www.nxtbook.com/mspc/independentbanker/february2022
https://www.nxtbook.com/mspc/independentbanker/january2022
https://www.nxtbook.com/mspc/independentbanker/december2021
https://www.nxtbook.com/mspc/independentbanker/november2021
https://www.nxtbook.com/mspc/independentbanker/october2021
https://www.nxtbook.com/mspc/independentbanker/september2021
https://www.nxtbook.com/mspc/independentbanker/august2021
https://www.nxtbook.com/mspc/independentbanker/july2021
https://www.nxtbook.com/mspc/independentbanker/june2021
https://www.nxtbook.com/mspc/independentbanker/may2021
https://www.nxtbook.com/mspc/independentbanker/april2021
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https://www.nxtbook.com/mspc/independentbanker/january2021
https://www.nxtbook.com/mspc/independentbanker/december2020
https://www.nxtbook.com/mspc/independentbanker/november2020
https://www.nxtbook.com/mspc/independentbanker/october2020
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https://www.nxtbook.com/mspc/independentbanker/december2019
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https://www.nxtbook.com/mspc/independentbanker/january2019
https://www.nxtbook.com/mspc/independentbanker/december2018
https://www.nxtbook.com/mspc/independentbanker/november2018
https://www.nxtbook.com/mspc/independentbanker/october2018
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https://www.nxtbook.com/mspc/independentbanker/august2018
https://www.nxtbook.com/mspc/independentbanker/july2018
https://www.nxtbook.com/mspc/independentbanker/june2018
https://www.nxtbook.com/mspc/independentbanker/may2018
https://www.nxtbook.com/mspc/independentbanker/april2018
https://www.nxtbook.com/mspc/independentbanker/march2018
https://www.nxtbook.com/mspc/independentbanker/february2018
https://www.nxtbook.com/mspc/independentbanker/january2018
https://www.nxtbook.com/mspc/independentbanker/december2017
https://www.nxtbook.com/mspc/independentbanker/november2017
https://www.nxtbook.com/mspc/independentbanker/october2017
https://www.nxtbook.com/mspc/independentbanker/september2017
https://www.nxtbook.com/mspc/independentbanker/august2017
https://www.nxtbook.com/mspc/independentbanker/july2017
https://www.nxtbook.com/mspc/independentbanker/june2017
https://www.nxtbook.com/mspc/independentbanker/may2017
https://www.nxtbook.com/mspc/independentbanker/april2017
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