SC Biz News

Agriculture

Subscribe to Our Digital Newsletters

S.C. bank deposits up nearly 7% from last year; Midlands banks up 8.6%

Agriculture
  • cmsteam
Print Story
  • Share

By Ashley Heffernan
aheffernan@scbiznews.com
Published Oct. 1, 2015

Bank deposits in South Carolina jumped 6.92% from 2014 to just over $75.1 billion, according to a deposit market share report released Monday by the Federal Deposit Insurance Corp.

In the Midlands, deposits grew by 8.6%, climbing to $17.6 billion from $16.2 billion, the FDIC data show.

Wells Fargo, Bank of America and BB&T remain the top three banks, respectively, for deposits in the Palmetto State, the FDIC report shows.

Wells Fargo held 19.88% of the S.C. market with nearly $15 billion in deposits as of June 30, when the report’s data was compiled, while Bank of America garnered 15.39% of the market with about $11.6 billion in deposits. BB&T held 10.25% of the market share with around $7.7 billion in deposits, the report said.

Columbia-based South State Bank was the highest-ranking S.C.-headquartered bank, at No. 5 statewide. It held 6.65% of the market share with almost $5 billion in deposits. South State had the third-largest market share in Berkeley, Charleston and Dorchester counties, at 13.3%. Wells Fargo and Bank of America mirrored the statewide figures at No. 1 and No. 2 for market share.

The number of bank offices in S.C. dropped from 1,358 in June 2014 to 1,324 in June 2015, according to the report. The top three banks each lost offices from 2014 to 2015. Wells Fargo went from 150 last year to 149 in 2015; Bank of America dropped from 98 to 95; and BB&T went from 114 to 112.

S.C. market share (greater than 0.25%) by deposits as of June 30

 


Institution

Wells Fargo Bank, National Association

Bank of America, National Association

Branch Banking & Trust Co.

First Citizens Bank & Trust Co.

South State Bank

TD Bank, National Association

Synovus Bank

SunTrust Bank

Regions Bank

The Palmetto Bank

Southern First Bank

The Conway National Bank

CresCom Bank

Park Sterling Bank

Security Federal Bank

First Community Bank

Bank of North Carolina

Bank of Travelers Rest

Anderson Brothers Bank

First Palmetto Bank

Arthur State Bank

Tidelands Bank

Palmetto State Bank

Horry County State Bank

Southcoast Community Bank

Ameris Bank

Carolina Bank & Trust Co.

South Atlantic Bank

The Citizens Bank

GrandSouth Bank

Capital Bank, National Association

The Bank of South Carolina

CoastalStates Bank

Community First Bank, Inc.

Enterprise Bank of South Carolina

First Reliance Bank

Oconee Federal Savings & Loan Association

Greer State Bank

Countybank

CertusBank, National Association

First Piedmont Federal Savings & Loan Association of Gaffney

The Peoples Bank

Carolina Alliance Bank

Farmers & Merchants Bank of South Carolina

First South Bank

PNC Bank, National Association

The Bank of Clarendon

No. of Offices

149

95

112

154

87

69

39

48

30

32

9

15

17

29

12

14

12

9

18

21

20

7

8

12

11

12

16

6

15

3

11

4

4

7

12

6

4

4

6

10

6

6

3

8

4

10

5

Deposits ($000)

14,928,864

11,562,374

7,701,867

6,786,593

4,991,573

3,672,843

2,916,380

2,439,818

1,084,244

978,042

898,500

842,660

822,483

720,903

644,864

620,102

542,120

487,639

457,946

455,047

447,007

429,914

410,520

384,590

366,034

352,018

349,068

347,783

343,047

336,986

332,535

330,595

326,762

304,687

297,591

288,676

268,973

268,708

267,600

244,978

244,749

237,711

237,707

232,072

228,080

204,335

186,213

Market Share

19.88%

15.39%

10.25%

9.04%

6.65%

4.89%

3.88%

3.25%

1.44%

1.30%

1.20%

1.12%

1.10%

0.96%

0.86%

0.83%

0.72%

0.65%

0.61%

0.61%

0.60%

0.57%

0.55%

0.51%

0.49%

0.47%

0.46%

0.46%

0.46%

0.45%

0.44%

0.44%

0.44%

0.41%

0.40%

0.38%

0.36%

0.36%

0.36%

0.33%

0.33%

0.32%

0.32%

0.31%

0.30%

0.27%

0.25%

Source: Federal Deposit Insurance Corp.

How banks stack up in Columbia metro market

Below is a ranking of 27 banks banks operating in Columbia metro area based on market share of deposits greater than 0.25% as of June 30.

Institution Name

No. of

Deposits

Market

             Offices

$000

Share

Bank of America, National Association

21

5,107,468

29.09%

Wells Fargo Bank, National Association

29

5,004,688

28.50%

Branch Banking and Trust Company

23

2,116,386

12.05%

First-Citizens Bank & Trust Company

29

1,635,195

9.31%

Synovus Bank

12

903,383

5.14%

TD Bank, National Association

15

620,215

3.53%

South State Bank

6

447,012

2.55%

First Community Bank

11

443,272

2.52%

First Palmetto Bank

8

254,607

1.45%

Southern First Bank

3

177,484

1.01%

Ameris Bank

3

135,506

0.77%

Regions Bank

4

102,157

0.58%

Congaree State Bank

2

86,310

0.49%

Capital Bank, National Association

4

85,413

0.49%

Park Sterling Bank

2

66,991

0.38%

Security Federal Bank

3

63,896

0.36%

SunTrust Bank

1

56,638

0.32%

South Carolina Community Bank

2

53,827

0.31%

First Reliance Bank

2

52,744

0.30%

Arthur State Bank

4

30,829

0.18%

VistaBank

1

25,269

0.14%

PNC Bank, National Association

1

25,027

0.14%

Sandhills Bank

1

20,570

0.12%

Farmers and Merchants Bank of South Carolina

1

19,378

0.11%

Heritage Community Bank

1

15,012

0.09%

Woodforest National Bank

5

6,359

0.04%

CertusBank, National Association

1

4,218

0.02%

Number of Institutions in the Market: 27

195

17,559,854

100

  • Share
0 Comments
Write a Comment