Census BFS / 2026-07
Monthly business applications
7,497Count rank #25 / 51
+14% from one year earlier; applications are selected EIN applications, not observed operating firms.
- U.S. share
- 1.29%
- High-propensity
- 34.1%
- Projected 4Q
- 581
State atlas
Northeast / U.S. individual health insurance
Massachusetts
Massachusetts's statewide bank deposit concentration rose 176 points between 2015 and 2025, to an HHI of 1,637, ranking 8 of 51 jurisdictions. What is HHI?
This page also covers 2024 individual health-insurance concentration, 2026-07 business applications, and 14 county banking screens, each with its source, a download, and national and regional comparisons.
Highly concentratedHHI rank #21 / 5130 jurisdictions below this HHIBank-deposit HHI 1,6377,497 monthly applications14 local banking screens
Applications
7,497
2026-07 / rank #25
Application YoY
+14%
Rank #38 of 51
Banking HHI
1,637
Rank #8 of 51
Insurance HHI
3,864
Rank #21 of 51
Insurance evidence / 2024
MA within the 51-jurisdiction field
Below 1,5001,500-2,4992,500-3,4993,500-4,9995,000+
- Selected MA
- 3,864
- Northeast average
- 4,037
- U.S. anchor
- 3,650
Geography profileMassachusettsNortheast · 7,497 monthly applications · Insurance HHI 3,864 · Bank HHI 1,637 · 14 local screens
- GeographyExact state joinMA across 51 jurisdictions
- SystemsThree source lanesFormation / banking / insurance
- AlignmentPostal code only2026-07 / 2025 / 2024
- Permitted useSource-native contextNo composite or common-market claim
Cross-system evidence
Three source systems in Massachusetts
The shared state boundary supports navigation, not combination. Each panel keeps its own market, period, participant unit, source, and permitted use.
KFF / 2024
ACA individual insurance
3,864HHI rank #21 / 51
Highly concentrated; the leading insurer holds 56% and 4 insurers exceed 5% share.
- Top insurer
- 56%
- Rivals >5%
- 4
- U.S. HHI
- 3,650
FDIC SOD / 2025
Statewide branch deposits
1,637HHI rank #8 / 51
Moderately concentrated statewide screen; State Street Corporation leads with 34.5% of reported branch deposits.
- Deposits
- $602.8B
- Organizations
- 114
- Branches
- 1,858
No cross-system score
This atlas joins three separately defined state-level systems by exact postal code: monthly Census Business Formation Statistics, a statewide FDIC branch-deposit concentration screen, and KFF's ACA-regulated individual-insurance market concentration. Shared geography does not make the product markets, denominators, populations, periods, or competitive meanings equivalent. Positions are descriptive context, not a composite score, causal estimate, statewide legal antitrust market, measure of startup success, or evidence that applications and concentration move together for a common reason.
Census business formation
Monthly formation signals in Massachusetts
Applications, high-propensity applications, and projected four-quarter formations retain their Census definitions and publication statuses.- Latest month
- Jul 2026
- Observed path
- 60 months
- State field
- 51 jurisdictions
Monthly source pathBusiness applications and high-propensity applications
Aug 2021 to Jul 2026 / counts
Business applications High-propensity applicationsZero-based count scale
Latest applications7,4977,317 state median#25 / 51
Annual change+14%+22.1% state median#38 / 51
High-propensity mix34.1%26.5% state median#3 / 51
Projected formation share7.7%5.3% state median#4 / 51
Source and interpretation contract
U.S. Census Bureau
July 2026 Business Formation Statistics / 2026-07. The FDIC lane aggregates reported branch deposits statewide and is not a deposit or lending market definition. The KFF lane covers the ACA-regulated individual insurance market, not health care generally. Census applications are selected EIN applications, not operating firms or observed employer formations in the publication month.This atlas joins three separately defined state-level systems by exact postal code: monthly Census Business Formation Statistics, a statewide FDIC branch-deposit concentration screen, and KFF's ACA-regulated individual-insurance market concentration. Shared geography does not make the product markets, denominators, populations, periods, or competitive meanings equivalent. Positions are descriptive context, not a composite score, causal estimate, statewide legal antitrust market, measure of startup success, or evidence that applications and concentration move together for a common reason.
Longitudinal banking evidence
A decade of statewide branch-deposit structure
Track Massachusetts across 11 exact annual FDIC vintages. State ranks reset each year, the median preserves the 51-jurisdiction comparison field, and the U.S. aggregate retains its separate national denominator.
Observed span2015-2025June 30 snapshots
Annual coverage11 / 11Complete 51-state panel
HHI change+1761,461 to 1,637
Latest HHI rank#8of 51 jurisdictions
Metric
State deposit HHI
11 exact observationsMassachusetts against the U.S. banking field
20151,461 20251,637
2025Massachusetts1,63751-state median903U.S. aggregate401
Annual evidence ledgerEvery published state input and benchmark
Ranks reset within each annual 51-state universe| Year | HHI | State rank | State median | U.S. aggregate | Leader share | Organizations | Branches | Deposits | Leading organization |
|---|---|---|---|---|---|---|---|---|---|
| 2015 | 1,461 | #11 / 51 | 958 | 410 | 32.0% | 163 | 2,160 | $371.4B | State Street Corporation |
| 2016 | 1,203 | #16 / 51 | 945 | 409 | 26.2% | 157 | 2,162 | $356.4B | State Street Corporation |
| 2017 | 1,131 | #17 / 51 | 977 | 420 | 22.6% | 148 | 2,142 | $350B | State Street Corporation |
| 2018 | 1,323 | #13 / 51 | 961 | 406 | 28.3% | 141 | 2,119 | $397.4B | State Street Corporation |
| 2019 | 1,244 | #15 / 51 | 938 | 390 | 26.3% | 134 | 2,106 | $407.5B | State Street Corporation |
| 2020 | 1,320 | #14 / 51 | 1,005 | 411 | 27.3% | 129 | 2,089 | $497.7B | State Street Corporation |
| 2021 | 1,439 | #11 / 51 | 977 | 408 | 30.5% | 128 | 2,015 | $579.3B | State Street Corporation |
| 2022 | 1,366 | #11 / 51 | 991 | 402 | 28.7% | 125 | 1,932 | $579.5B | State Street Corporation |
| 2023 | 1,417 | #12 / 51 | 973 | 407 | 29.6% | 120 | 1,914 | $556.1B | State Street Corporation |
| 2024 | 1,498 | #11 / 51 | 913 | 398 | 31.9% | 117 | 1,882 | $562.1B | State Street Corporation |
| 2025 | 1,637 | #8 / 51 | 903 | 401 | 34.5% | 114 | 1,858 | $602.8B | State Street Corporation |
Annual statewide and national rows are independent June 30 branch-deposit screens, not interpolated observations or legal market definitions. Reported ownership structures, branch booking, and jurisdiction coverage can change between vintages; deposit values are nominal and should not be read as inflation-adjusted growth.
Local banking layer
County and county-equivalent screens in Massachusetts
The local layer uses the same 2025 FDIC branch records and ownership rule as the statewide screen, but recalculates shares within each reported county or equivalent.
- Published screens
- 14Positive branch-deposit rows
- State median HHI
- 1,425County screen median
- Highly concentrated
- 4HHI at or above 2,500
- Single organization
- 0Reported-deposit screen
Within-state county atlas / 2025
Map the local banking field
Choose one comparable FDIC measure, inspect every published screen, then open the exact county record.MA county field
County deposit HHI
- Published screens
- 14
- Selected rank
- #1
Loading Census boundary layer
0–1,4991,500–2,5002,501–4,9995,000–7,4997,500–10,000Outside MANo positive-deposit screen
County rows are screens of positive FDIC Summary of Deposits branch balances grouped to the reported top bank holding company when available and otherwise to the insured institution. Branch-reported deposits may not represent where every customer lives or competes, county boundaries may not match a banking market, deposits are not every banking product, and these screens are not legal market definitions.
Benchmark table
State against the national market
MeasureMAU.S. benchmarkDeltaRead
HHI vs U.S.3,864U.S. 3,650+214above national HHI
Top share vs U.S.56%U.S. 48%+8%more held by the leader
Rival depth vs U.S.4U.S. 4+0as many or more meaningful rivals
Regional comparison
Northeast HHI peers
Massachusetts ranks #5 of 9 in the Northeast; its HHI is -173 from the regional average.
Nearest HHI peers
Closest public state values, regardless of region.
Public evidence packet
Reproduce the Massachusetts record
Exact state filters preserve the three source-native rows across the context atlas, single-market comparison studio, public API, CSV export, and evidence graph.
- Formation
- U.S. Census Bureau / 2026-07
- Banking
- Federal Deposit Insurance Corporation / 2025
- Insurance
- KFF / 2024
Geographic scope guardrail
This geography layer describes the ACA-regulated individual health insurance market using KFF's 2024 state-level measures. It does not measure a state's overall economy, employer-sponsored insurance, or a legal market definition. The FDIC lane aggregates reported branch deposits statewide and is not a deposit or lending market definition. The KFF lane covers the ACA-regulated individual insurance market, not health care generally. Census applications are selected EIN applications, not operating firms or observed employer formations in the publication month. This layer is a statewide screen of FDIC Summary of Deposits branch balances, grouped to the reported top bank holding company when available and otherwise to the insured institution. Banking antitrust markets are often local, deposits are not every banking product, and the screen is not a legal market definition. County rows are screens of positive FDIC Summary of Deposits branch balances grouped to the reported top bank holding company when available and otherwise to the insured institution. Branch-reported deposits may not represent where every customer lives or competes, county boundaries may not match a banking market, deposits are not every banking product, and these screens are not legal market definitions.