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Can You Name the 10 Largest Banks?

Thursday, January 28, 2010 - 1:42 PM
Jim at Baraineering listed the 10 largest banks in the US and which were TARP participants. Here's an extra credit question: Can you name the banks that these giants have acquired over the last two years? It's sad that during this financial crisis most of these giant banks have grown bigger by acquiring banks that had failed or were on the verge of failure. It's another reason to move your money to community banks and credit unions.
1
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,074
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!!!
1
AnonymousAnonymous2,282 posts since
May 9, 2010
Rep Points: 3,917
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