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This issue of Review of Applied Urban Research features "Small Banks of Nebraska and Iowa: An Examination of Some Variations in Performance," by E.J. Steele.

The United States is a nation of small banks. In 1975, the median size bank had between $15 and $20 million of demand and time deposits.1 Since banking structure is determined in large part by state regulations, the number and sizes of banks vary a great deal among the states. Table 1 shows the number of banks in Nebraska, Iowa and surrounding states in 1975. Nebraska had 448 banks and ranked eleventh in the nation in total number. Iowa had 654 banks and ranked fifth. Nebraska had fewer people per bank than any of the surrounding states and the median size Nebraska bank had less than $10 million in total deposits. Iowa's median size bank had just over $10 million.