Chase remains Indy’s biggest bank

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JPMorgan Chase, PNC Bank and Fifth Third Bank remain the three largest banks in the Indianapolis market, although Chase’s market share slipped slightly while the other two saw gains, according to Federal Deposit Insurance Corp. data.

According to the FDIC’s recently released Deposit Market Share Report, Chase had $13.56 billion in deposits in the Indianapolis/Carmel/Anderson metro area as of June 30, which represented a market share of 19.89%.

A year earlier, JPMorgan had $10.83 billion in deposits and a 20% market share.

PNC had $9.71 billion in Indianapolis-area deposits and a 14.24% market share. That’s up from June 2019, when the bank had $7.59 billion in Indianapolis-area deposits and a 14% market share.

Fifth Third had $6.59 billion in local deposits and a 9.66% market share, up from its $4.61 billion in deposits and 8.51% market share a year earlier.

Here’s how the rest of the top 10 looked this year.

The list excludes Fishers-based First Internet Bank of Indiana because the bank has no branches; all its deposits nationwide count as local.

Huntington National Bank remained No. 4, with market share of 6.38%, down from 6.61% last year.

BMO Harris Bank remained No. 5, with market share of 5.84%, down from 6.36% last year.

Merchants Bank of Indiana saw its market share jump from 4.31% last year to 5.81%, improving its ranking from eighth to sixth.

KeyBank dropped from sixth to seventh, even though its market share rose to 5.74%, from 5.55% last year.

Bank of America saw its market share climb from 4.67% last year to 4.94%, though its ranking also slipped—from No. 7 to No. 8.

First Merchants Bank’s market share slipped from 3.94% last year to 3.8%, though its ranking remained at ninth.

The National Bank of Indianapolis remained No. 10, with its market share slipping from 3.1% to 2.96%.•

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