The number of national bank charters in the Midwest has dropped precipitously in the last decade. And while industry contraction is a factor, community bankers also point to savings on examination costs, local decision-making by (and access to) examiners, along with the dilution of national banking powers as reasons they’ve opted to convert to a state bank charter from a national charter.
One place where the decline in national bank charters is astonishing is in Comptroller of the Currency Joseph Otting’s native Iowa, where there are 17 national charters today where there had been 42 a decade . . .
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