Monday, October 8, 2012

Charlotte deposit growth second-highest in U.S.

The Charlotte area posted the second-highest deposit growth out of major U.S. metropolitan areas, according to an SNL Financial analysis of data released last week by the FDIC.

The Charlotte-Gastonia-Rock Hill area's deposits grew 25 percent, to $201 billion in deposits. Charlotte was bested only by the much larger Minneapolis-St. Paul-Bloomington area in Minnesota, which jumped 44 percent to $159 billion in deposits.

The SNL analysis was limited to metropolitan areas of more than 1 million people. Charlotte clocks in at about 1.8 million.

The FDIC's numbers can be skewed by the presence of corporate deposits at a bank's headquarters. Charlotte, of course, is influenced by Bank of America's corporate deposits. The fast-growing U.S. Bancorp is based in Minneapolis.