A Wells Fargo branch at 7950 W. Alameda Ave. in Lakewood. (Thomas Gounley)
Two firms fresh off acquisitions had the largest jump in local deposit market share in the past year, according to new data released by the Federal Deposit Insurance Corp.
Oklahoma-based BOK Financial, which acquired Denver-based CoBiz Financial in October 2018, was the No. 6 brand in the Denver metro area in terms of market share at the end of June, after taking the No. 12 spot one year earlier. It held 3.95 percent of local deposits, compared to 1.47 percent in 2018.
And Texas-based Independent Bank, which acquired Denver-based Guaranty Bank in January, was the No. 14 brand locally, after barely registering in 2018, when it was No. 47. The company’s deposit share increased to 1.27 percent, up from 0.05 percent.
The FDIC conducts an annual survey of branch-office deposits for all institutions it insures. The data, typically released in September each year, is current as of June 30.
Wells Fargo kept a tight lock on the No. 1 spot for 2019. The company accounted for 25.44 percent of local deposits, a slight dip from 25.82 percent in 2018.
Wells Fargo has been No. 1 since the 1999 survey, which took place months after it merged with Norwest Bank Colorado, which had held the top spot in 1998.
Wells Fargo remains well ahead of runner-up U.S. Bank, which had 13.51 percent of Denver metro area deposits as of June. FirstBank was close behind at No. 3, with 13.37 percent.
On a statewide basis, Wells Fargo also takes the No. 1 spot, with 22.42 percent of deposits. FirstBank, meanwhile, reclaimed the No. 2 spot this year from U.S. Bank, with 11.45 percent market share to the latter’s 10.65 percent.
Here are the deposit market share rankings for the Denver metro area, with 2018 ranking and deposit share noted in parentheses. The full data set can be viewed on the FDIC’s website.
Metro-area deposit market share (2018 stats in parentheses)
- 1. Wells Fargo Bank: 25.44 percent (No. 1 – 25.82 percent)
- 2. U.S. Bank: 13.51 (No. 2 – 15.48)
- 3. FirstBank: 13.37 (No. 3 – 13.53)
- 4. JPMorgan Chase Bank: 11.06 (No. 4 – 11.63)
- 5. KeyBank: 6.36 (No. 5 – 4.64)
- 6. BOKF: 3.95 (No. 12 – 1.73)
- 7. Bank of the West: 3.69 (No. 6 – 3.64)
- 8. Bank of America: 2.91 (No. 9 – 2.08)
- 9. BBVA: 1.98 (No. 8 as Compass Bank – 2.1)
- 10. Citywide Banks: 1.76 (No. 10 – 1.89)
- 11. Colorado Federal Savings Bank: 1.72 (No. 14 – 1.46)
- (tie) 11. Zions Bancorporation: 1.72 (No. 11 as ZB – 1.86)
- 13. UMB Bank: 1.36 (No. 15 – 1.24)
- 14. Independent Bank: 1.27 (No. 47 – 0.05)
15. TCF National Bank: 1.04 (No. 16 – 0.96)
A Wells Fargo branch at 7950 W. Alameda Ave. in Lakewood. (Thomas Gounley)
Two firms fresh off acquisitions had the largest jump in local deposit market share in the past year, according to new data released by the Federal Deposit Insurance Corp.
Oklahoma-based BOK Financial, which acquired Denver-based CoBiz Financial in October 2018, was the No. 6 brand in the Denver metro area in terms of market share at the end of June, after taking the No. 12 spot one year earlier. It held 3.95 percent of local deposits, compared to 1.47 percent in 2018.
And Texas-based Independent Bank, which acquired Denver-based Guaranty Bank in January, was the No. 14 brand locally, after barely registering in 2018, when it was No. 47. The company’s deposit share increased to 1.27 percent, up from 0.05 percent.
The FDIC conducts an annual survey of branch-office deposits for all institutions it insures. The data, typically released in September each year, is current as of June 30.
Wells Fargo kept a tight lock on the No. 1 spot for 2019. The company accounted for 25.44 percent of local deposits, a slight dip from 25.82 percent in 2018.
Wells Fargo has been No. 1 since the 1999 survey, which took place months after it merged with Norwest Bank Colorado, which had held the top spot in 1998.
Wells Fargo remains well ahead of runner-up U.S. Bank, which had 13.51 percent of Denver metro area deposits as of June. FirstBank was close behind at No. 3, with 13.37 percent.
On a statewide basis, Wells Fargo also takes the No. 1 spot, with 22.42 percent of deposits. FirstBank, meanwhile, reclaimed the No. 2 spot this year from U.S. Bank, with 11.45 percent market share to the latter’s 10.65 percent.
Here are the deposit market share rankings for the Denver metro area, with 2018 ranking and deposit share noted in parentheses. The full data set can be viewed on the FDIC’s website.
Metro-area deposit market share (2018 stats in parentheses)
- 1. Wells Fargo Bank: 25.44 percent (No. 1 – 25.82 percent)
- 2. U.S. Bank: 13.51 (No. 2 – 15.48)
- 3. FirstBank: 13.37 (No. 3 – 13.53)
- 4. JPMorgan Chase Bank: 11.06 (No. 4 – 11.63)
- 5. KeyBank: 6.36 (No. 5 – 4.64)
- 6. BOKF: 3.95 (No. 12 – 1.73)
- 7. Bank of the West: 3.69 (No. 6 – 3.64)
- 8. Bank of America: 2.91 (No. 9 – 2.08)
- 9. BBVA: 1.98 (No. 8 as Compass Bank – 2.1)
- 10. Citywide Banks: 1.76 (No. 10 – 1.89)
- 11. Colorado Federal Savings Bank: 1.72 (No. 14 – 1.46)
- (tie) 11. Zions Bancorporation: 1.72 (No. 11 as ZB – 1.86)
- 13. UMB Bank: 1.36 (No. 15 – 1.24)
- 14. Independent Bank: 1.27 (No. 47 – 0.05)
15. TCF National Bank: 1.04 (No. 16 – 0.96)
Leave a Reply