The site of last week's Independent Bankers Association of America convention could serve as a metaphor for the effects of consolidation on the industry.

The number of independent banks in Arizona has shrunk to a small handful, and by far the two tallest buildings in downtown Phoenix belong to BankAmerica Corp. and Banc One Corp.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.