? To investigate this question, I exploit changes in tax rates on bank profits across U.S. states. Banks respond by …

), our approach estimates bank asset holdings at higher frequencies which allows us to derive precise estimates of (i …

changes in the business strategies of larger banks and non-bank financial service providers, have purportedly made it more … the shares of bank branches, deposits, banking assets, and small business loans held by community banks in the U.S. have … between community bank profitability and various characteristics of the banks and the local markets in which they operate …

, (ii) a Hurricane-Ian-spillovers scenario, and (iii) a cautious-markets scenario. We quantify bank exposures and loss rates …