Banking & Bankruptcy Filings

• In 2024, bank deposits in Cochise County (as of June 30) were up 2.9% from a year prior. That followed declines of 5.0% and 3.9% in 2022 and 2023, respectively (on the heels of double-digit increases of 12.0% and 18.1% in 2020 and 2021, respectively, which were helped along by COVID stimulus programs in those years). All areas of the county saw bank deposits increase in 2024 except Douglas, which saw deposits drop 0.6%.
• The largest increase in bank deposits in 2024 was Benson, where deposits grew by 16.3%. That was after falling 11.3% in 2023; however, that followed increases of 20.5%, 12.4%, and 15.2% in 2020, 2021, and 2022, respectively, the largest increase countywide over the three-year period. 
• The second biggest jump in bank deposits in 2024 was Fort Huachuca, which saw deposits grow by 8.6%. Bisbee saw the third-largest increase at 5.1%. 
• Sierra Vista, the largest banking market area in Cochise County, saw deposits grow by 1.1% in 2024, following declines of 9.5% in 2022 and 3.4% in 2023.

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

• The number of bankruptcy filings in Cochise County for all chapters totaled 151 in 2024, up 22.8% from 123 in 2023. That followed an increase of 3.3% in 2022 and an offsetting drop of 3.1% in 2023 (after steep declines of 6.0% in 2019, 34.7% in 2020, and 14.0% in 2021).
• Decreases in 2020 and 2021 were helped along by COVID stimulus programs those years including mortgage relief, eviction moratoriums, penalty-free early retirement withdrawals, student loan deferrals, and tax credits. Cochise County's number of filings in 2021, the second year of the pandemic, was the lowest on record (with records back to 2006).
• Despite the jump in 2024, bankruptcy filings were still down 57.5% from the record high of 355 back in 2010 and 31.1% lower than 2019, the year prior to the COVID pandemic. Cochise County filings in 2024 were the fifth lowest since 2007 (with only the pandemic and recovery years of 2020 through 2023 seeing lower numbers).

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