Banking and Bankruptcies

Bank deposits

In 2022, bank deposits in Cochise County (as of June 30) were down 5.0% from 2021. The drop in deposits was led by Sierra Vista and Douglas, which saw deposits fall 9.5% and 3.8%, respectively. All other banking markets in Cochise County saw deposits increase in 2022. The largest increase was Benson, with deposits up 15.2%, followed by Bisbee (+9.5%), Fort Huachuca (+6.4%), and Willcox (+1.3%).
In 2021, Cochise County deposits were up 18.1% - the biggest increase since 2008 and the second largest on record (with records back to 1994). The 2021 increase followed a 12% jump in 2020, making it the largest 2-year increase on record. Deposits in 2020 and 2021 were helped along by economic stimulus payments and other COVID programs, the effects of which diminished in 2022.

See spreadsheets, below, for Cochise County, city, and town bank deposits (as of July 1, each year).

Bank Deposits (1994-current) (pdf)

Bank Deposits (1994-current) (xlsx)

The number of bankruptcy filings in Cochise County for all chapters rose 3.3% from 123 to 127 in 2022. Despite the increase, the number of filings in 2022 was the second lowest since 2006 (the year 2021 was the lowest on record, with records back to 2006). Filings were down from a high of 355 back in 2010.
The near-record-low number of filings from 2020 through 2022 was helped along by COVID programs, including mortgage relief and the eviction moratorium. In 2020, the first year of the pandemic, the number of bankruptcy filings from within Cochise County fell 34.7%, its largest decline on record, from 219 to 143. That was followed by a 14.0% further decline in 2021, before the slight increase in 2022.

See spreadsheets, below, for annual bankruptcy filings from within Cochise County.

Bankruptcy Filings (2006-current) (pdf)

Bankruptcy Filings (2006-current) (xlsx)