Bank of America held on to its spot as the bank with the most U.S. deposits, with 12.62 percent of the nation's deposit share as of June 30, according to analysis of this week's FDIC market share data by SNL Financial.
The Charlotte bank controlled about $1.1 trillion in domestic deposits, up nearly 6 percent from last year.
Wells Fargo also maintained the No. 2 spot, with 9.96 percent of the nation's deposits. The $891 billion it held was up 12 percent from last year.
JPMorgan Chase and Citigroup were third and fourth, as they were last year. Capital One Financial Corp., which acquired ING Bank this year, jumped several spots to round out the top five.
Winston-Salem's BB&T grew its U.S. deposits by 19 percent to crack the top 10, jumping from No. 11 to No. 9.
Friday, October 5, 2012
Bank of America still tops in U.S. deposits
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5 comments:
...So much for all the exaggerated claims of the mass exodus from BofA to credit unions.
Tops in Overdraft Fees, too~
Adolf, it is easy to avoid overdraft fees, simply do not write checks in which you do not have sufficient funds to cover.
1994 Anti-Trust law forbids any single bank from having more than 10% of the nation's total deposits.
1. Why doesn't Howdy Doody Dunn KNOW this? Isn't he a BANKING reporter?
2. Why hasn't BofA been properly charged?
Anonymous 11:33, the law you speak of prohibits banks from crossing the 10 percent threshold *by an acquisition*. Banks are permitted to exceed the threshold by internal growth.
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