Newly released data from the Federal Deposit Insurance Corp. shows little change in the general trend of Nashville's biggest banks steadily losing market share to smaller local and regional competitors. But the change that there is catches the eye.
in the tumultuous year ended June 30, Bank of America reversed a pattern of market-share loss that goes back to 2005. The Charlotte-based company held 14.2 percent of Middle Tennesseans' deposits in June, up from 13.8 percent the year before.
A rundown of the rest of the region's 10 largest deposit holders shows market leader Regions and No. 3 player SunTrust surrendering two points of market share and Fifth Third and First Tennessee swapping fifth and sixth places – even though both also lost market share. Locally based Pinnacle posted the biggest year-over-year gain.
In all, the top 10 banks controlled 76.2 percent of the region's deposits, down 1 point from June 2008.
For our past coverage of the Nashville area's deposit shifts, check out:
2008 – Upstarts' triumph or flight to safety?
2007 – Big banks' deposit woes mean boon for local competitors
2006 – No deposit, no return?
Federal Deposit Insurance Corporation |
Pinnacle National Bank |
First Tennessee Bank |
Fifth Third Bank |
Bank of America |
SunTrust Bank |
Regions Bank |
Banking |
Finance and Ventures
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