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New York, San Francisco and Charlotte are often considered the banking centers of the U.S. thanks to the big financial institutions headquartered in those cities. But when it comes to bank assets, none of those locales can touch South Dakota where $3.2 trillion in bank assets are held—the most of any state and 19% of all bank assets in the U.S., according to the Federal Deposit Insurance Corp.
The state’s largest city, Sioux Falls, has been the biggest beneficiary. Citi and Wells Fargo both employ more than 2,000 people in the area and Sioux Falls’ unemployment rate is a scant 2.6% for the metro. Sioux Falls tops FORBES’ annual look at the best small cities for business and careers. It ranked second last year.
On – 06 Nov, 2017 By Kurt Badenhausen