Smaller US banks grew faster than larger rivals in Q3

Lenders less than $1 billion in size increased loans 16% over the quarter

Small- and mid-sized US banks continued to outpace the country’s biggest lenders in growing loans and other assets over the three months to end-September, regulatory filings show.

Banks $1-3 billion in size and those $3-10 billion in size increased net loans and leases by 14% each over Q3, slightly down from 15% in Q2. There were 46 banks in the former size bracket and 142 in the latter as of September. The 130 banks over $10 billion in size, in contrast, saw net loans increase a little less