Bank Accounts

Bank Deposits Grow Per Capita

Why are they important?

Bank deposits grow with population and per capita income. They also grow when the stock market declines because people move money out to safer investments. Money flows more easily between banks and the stock market today because people have more options for mutual funds and other investments than they did years ago. Local bank accounts are a form of financial capital that can be reinvested in the community through loans for businesses or construction.

How are we doing?

The chart tells us that bank deposits per capita have grown steadily since the late 1990s. This positive trend is probably due to the increase in per capita income and larger numbers of new residents bringing financial resources from other parts of the state.

Download Data and Charts 1994-2003