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Chase stays atop ranking of biggest banks in Indy

October 14, 2017

JPMorgan Chase, PNC Bank and Fifth Third Bank remain the three largest banks in Marion County, according the Federal Deposit Insurance Corp.

As of June 30, New York-based Chase held $8.6 billion in deposits within Marion County, which represents a local market share of 30.1 percent. Meanwhile, Pittsburgh-based PNC had $5.9 billion in deposits and a 20.1 percent share, and Cincinnati-based Fifth Third had $3.4 billion in deposits and an 11.8 percent share.

Twenty-six banks had a presence in Marion County as of June 30. Together, they had 212 branches and $28.6 billion in deposits. Deposits were up 3 percent compared with a year earlier.

Rounding out the top 10 in Marion County were Columbus, Ohio-based Huntington National Bank, Chicago-based BMO Harris Bank, Cleveland-based KeyBank, The National Bank of Indianapolis, Birmingham, Alabama-based Regions Bank, Carmel-based Merchants Bank of Indiana and San Francisco-based Wells Fargo Bank.

Hamilton County has a slightly different lineup of largest banks, with the top two locally based. No. 1 was Fishers-based First Internet Bank of Indiana, which has no branches and thus credits all $1.7 billion in deposits to its headquarters. Its market share was 19.1 percent.

Second was Chase, with $1.6 billion in deposits and a 17.1 percent share, and third was Merchants Bank of Indiana, with $1.3 billion in deposits and a 13.8 percent share.

In all, 26 banks in Hamilton County held $9.1 billion in deposits, up 12 percent from a year earlier. Rounding out Hamilton County’s top 10 were PNC Bank, Muncie-based First Merchants Bank, Lake City Bank, Fifth Third, Huntington, BMO Harris, KeyBank, Regions Bank and The National Bank of Indianapolis.•

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