Patch Stats: Rosemont's Bank Balance

There is no shortage of numbers to quantify the effects of the Great Recession in Rosemont. There are unemployment rates, foreclosure figures, new business licenses, bankruptcy rates and average home values. With unemployment at around 11 percent, it’s hard to accept that the Great Recession officially ended two years ago. With an eye on how our community is faring in this sputtering recovery, Patch looked at Rosemont's bank balance.

The Federal Deposit Insurance Corporation tracks the deposits in every bank backed by the FDIC. While not a perfect reflection of the wealth in a particular community, looking at the total deposits in a zip code can provide a partial portrait of economic health. For example, as of last year, in the Carmichael zip code of 95608 there was $434 million deposited in seven banks. In 2005, there was $533 million. That’s a decline of around 20 percent. But the real nadir was in 2008, when total deposits were $389 million. In Carmichael, at least, things might be improving.

As of last year, there was about $295 million in accounts between banks in the 95826 and 95827 zip codes, which cover Rosemont and other nearby areas.

We have three maps showing savings and checking bank deposits by zip code:

• Percent change in bank deposit values by zip code, 2008-2010
• Percent change in bank deposit values by zip code, 2005-2010
• Bank account values by zip code 2005-2010

As you look at the maps, there a couple of important points to keep in mind.

The amounts are the total deposits in all FDIC-insured banks as of June 30 of that year.

Accounts stay with the branch where it was first opened. For example, if you open an account in Davis and move to Roseville, your subsequent deposits will still be reflected in Davis.