Analysis
NAICS 551111 is the 2022 national industry for offices of bank holding companies, part of 55111 (Management of Companies and Enterprises). Census lists 3 example activities under it in the official index.
County Business Patterns counts 643 US establishments in this code in 2023, employing 7,837 people at an average annual payroll of $125,696 per employee (93rd percentile of national industries). 61% of the establishments have fewer than five employees, which marks it as a small-business industry.
By establishments it ranks 3rd of the 3 codes at this level within Management of Companies and Enterprises, with 1.3% of them.
Between 2018 and 2023 the number of establishments fell 11% and employment fell 3%. The 2018 count used NAICS 2017, so part of a large move can come from codes being redefined rather than from businesses opening or closing.
Its index entries, the activities Census uses to assign businesses to this code, include bank holding companies (except managing), holding companies, bank (except managing) and offices of bank holding companies.
For example, holding the securities of (or other equity interests in) a company or enterprise and administering, overseeing, and managing establishments of the company or enterprise whose securities they hold are classified in 551114 (Corporate, Subsidiary, and Regional Managing Offices) instead.
Official definition
This U.S. industry comprises legal entities known as bank holding companies primarily engaged in holding the securities of (or other equity interests in) companies and enterprises for the purpose of owning a controlling interest or influencing the management decisions of these firms. The holding companies in this industry do not administer, oversee, and manage other establishments of the company or enterprise whose securities they hold.
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Holding the securities of (or other equity interests in) a company or enterprise and administering, overseeing, and managing establishments of the company or enterprise whose securities they hold | 551114 Corporate, Subsidiary, and Regional Managing Offices |
| Holding the securities of depository banks and operating these entities | 5221 Depository Credit Intermediation |
Index entries (3)
- Bank holding companies (except managing)
- Holding companies, bank (except managing)
- Offices of bank holding companies