A recent analysis by the Federal Reserve Bank of Minneapolis has found that the rate of community bank consolidation has not increased despite the rising cost of regulation. Instead, researchers found the current consolidation rates to be in line with historical trends. In June 2013, the Minneapolis Fed forecasted a decline of 325 community banks by June 2014; the actual decline was 114. That translates to an annual rate of decline of 3.5%, only slightly above the 3% annual decline which characterized the last 20 years. Rising regulatory costs are expected to push 15% of banks with assets below $50 million into unprofitability.