1. Friday, January 29, 2010 - 8:59 AM
The following table lists the top 10 deposit balances at domestic banks, their respective deposit balance as of 9/30/09 (in billions of dollars), and their bank & thrift acquisitions (both whole operations and branches) since 1/1/08:
Bank of America $975 Countrywide Financial
JPMorgan Chase $868 Washington Mutual
Citigroup $833 none
Wells Fargo $797 Wachovia, Century Bancshares, FSB of Fort Morgan, United Bancorp (WY & ID)
PNC Financial $184 National City
US Bancorp $170 Mellon 1st Business Bank, 22 BB&T branches, FBOP subsidiaries, First Bank of Idaho, Downey S&L, PFF Bank & Trust
Bank of New York Mellon $134 none
SunTrust Banks $119 Omni National, First Priority Bank
BB&T $115 Colonial Bank, Haven Trust
Capital One Financial $115 Chevy Chase Bank
It should be noted that the "big 4" banks make up over 80% of the top 10 balance...and these guys aren't really focusing on the small fry. Community banks are being eaten up by bigger community banks, who, in turn, are prey for even larger community banks...and then the regional banks step into the mix...and then the super-regional banks such as the banks ranked 6-10 from the table above.
I totally support local community bank operations...just please refrain from spinning data like the loser mainstream media, who is more concerned about Twitter feeds and FaceBook--we are better than that!!!
Bank of America $975 Countrywide Financial
JPMorgan Chase $868 Washington Mutual
Citigroup $833 none
Wells Fargo $797 Wachovia, Century Bancshares, FSB of Fort Morgan, United Bancorp (WY & ID)
PNC Financial $184 National City
US Bancorp $170 Mellon 1st Business Bank, 22 BB&T branches, FBOP subsidiaries, First Bank of Idaho, Downey S&L, PFF Bank & Trust
Bank of New York Mellon $134 none
SunTrust Banks $119 Omni National, First Priority Bank
BB&T $115 Colonial Bank, Haven Trust
Capital One Financial $115 Chevy Chase Bank
It should be noted that the "big 4" banks make up over 80% of the top 10 balance...and these guys aren't really focusing on the small fry. Community banks are being eaten up by bigger community banks, who, in turn, are prey for even larger community banks...and then the regional banks step into the mix...and then the super-regional banks such as the banks ranked 6-10 from the table above.
I totally support local community bank operations...just please refrain from spinning data like the loser mainstream media, who is more concerned about Twitter feeds and FaceBook--we are better than that!!!
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