It’s that time of year again: The Federal Deposit Insurance Corp. has released its latest market-share report, showing who’s up and who’s down in the Charlotte region’s highly competitive banking industry.
Issued annually, the report tracks changes in U.S. deposits and branch numbers, making it a closely watched yardstick for lenders’ performance. Banks, for their part, are quick to note that the data is limited because it is based on a snapshot taken on a single day, June 30.
Here are four takeaways from this year’s report, released last week.
1. BofA up, Wells down. Charlotte-based Bank of America remained the region’s No. 1 lender by market share, as it grew deposits by 10.2 percent to $159 billion. That gain came as some other large lenders, including San Francisco’s Wells Fargo, posted declines in deposits and market share.
Bank of America’s market share rose to about 73 percent, up from about 71 percent. Its market share in the region remains below its 2012 peak of 78.4 percent.
Bank of America’s Charlotte-area deposit figures include non-consumer deposits, such as those for large commercial clients, that it records in its headquarters city. That contributes to its deposit growth and dominance here.
Wells Fargo retained its position as the region’s second-largest lender by market share but posted a 2.3 percent slide in deposits, to $37 billion. Its market share fell to about 17 percent from about 18 percent.
Wells Fargo is pleased that it “continues to enjoy a large and stable core deposit base,” spokesman Josh Dunn said in a statement.
2. Regions posts biggest percentage gain. Of the Charlotte area’s 20 biggest lenders, Birmingham, Ala.-based Regions Bank recorded the largest percentage gain in deposits, about 61 percent.
The regional bank rose to 14th place for market share, up from 16th, as Charlotte-area deposits grew to $393 million. Those gains come as Regions has been growing its other operations in Charlotte.
3. Park Sterling posts largest percentage drop. Charlotte-based Park Sterling Bank posted a roughly 3 percent decline in deposits, the biggest percentage drop among the top 20 banks. The regional lender kept its seventh-place ranking.
Deposits fell to $895 million, while market share dropped to 0.41 percent from 0.46 percent.
President Bryan Kennedy said Park Sterling has a large commercial deposit base in Charlotte. Commercial clients tend to have a large amount of deposits, so their account activity can cause “pretty wild swings” in a bank’s total deposit figures, he said.
Park Sterling is pleased with its Charlotte deposit and loan growth, he said. “I don’t think a one-day-in-time comparison is accurate in terms of how we continue to grow our business here.”
4. New names in top 10. PNC Bank and CommunityOne are the only two new names in Charlotte’s top-10 list.
PNC, part of Pittsburgh’s PNC Financial Services Group, rose to ninth place, breaking the top 10 for the first time since buying RBC Bank’s Raleigh-based U.S. business in 2012.
PNC replaced Bank of North Carolina, part of High Point-based BNC Bancorp., which fell to 11th.
Charlotte-based CommunityOne jumped to 10th place from 14th. It replaced Columbia’s First Citizens Bank and Trust Co., which disappeared from this year’s list because it merged in January with fifth-ranked First-Citizens Bank & Trust Co. of Raleigh.
Here are the top 10, in order: Bank of America, Wells Fargo, BB&T, Fifth Third, First Citizens, SunTrust, Park Sterling, Yadkin, PNC, CommunityOne.