JPMorgan Chase and PNC Bank saw both their Indianapolis-area deposits and their market share decline over the past year, although they retained their positions as the area’s two largest banks, according to Federal Deposit Insurance Corp. data.
According to the FDIC’s recently released Deposit Market Share Report, Chase had $10.8 billion in deposits in the Indianapolis/Carmel/Anderson metro area as of June 30, which represented a market share of 20%.
A year earlier, JPMorgan had $10.9 billion in deposits and a 21.4% market share.
PNC Bank had $7.6 billion in Indianapolis-area deposits and a 14% market share. That was down from $8.2 billion in deposits and 16.1% market share a year earlier.
Excluding Fishers-based First Internet Bank of Indiana—which has no branches, so all its deposits nationwide count as local—here’s how the top 10 shook out this year:
◗ Fifth Third Bank remained at No. 3, with a market share of 8.5%, up from 8.4% last year.
◗ Huntington National Bank remained No. 4, with market share of 6.6%, down from 6.8%.
◗ BMO Harris Bank remained No. 5, with market share of 6.4%, up from 5.6%.
◗ KeyBank rose from seventh last year to sixth, with its market share climbing from 4% to 5.6%.
◗ Bank of America saw its market share climb from 4.4% last year to 4.7%, though its ranking slipped from sixth to seventh.
◗ Merchants Bank of Indiana saw its market share jump from 3.4% last year to 4.3%, improving its ranking from 10th to eighth.
◗ First Merchants Bank saw its market share climb from 3.7% last year to 4%, though its ranking slipped from eighth to ninth.
◗ The National Bank of Indianapolis saw its market share slip from 3.4% to 3.1%, and it dropped from ninth place to 10th.