Chase stays atop ranking of biggest banks in Indy

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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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