Bank of America remains, by far, Connecticut’s biggest deposit-taking institution, owning nearly a quarter of the $120.4 billion state residents’ had in checking, savings and other bank deposits as of June 30. But, according to a new Federal Deposit Insurance Corp. statewide deposit breakdown, a pair of distant deposit rivals — Bridgeport’s People’s United Bank […]
Bank of America remains, by far, Connecticut’s biggest deposit-taking institution, owning nearly a quarter of the $120.4 billion state residents’ had in checking, savings and other bank deposits as of June 30.
But, according to a new Federal Deposit Insurance Corp. statewide deposit breakdown, a pair of distant deposit rivals — Bridgeport’s People’s United Bank and Waterbury’s Webster Bank — have been battling for the No. 2 spot. Lately, People’s United has emerged the winner.
People’s United was second to B of A’s Connecticut 24.67 percent deposit market share, standing, as of June 30, at 12.91 percent. Webster was right on its heels, posting a 12.82 percent deposit market share, FDIC data showed.
Beyond the trio, rankings for the rest of the top 10 remained the same as compared to a year earlier: Wells Fargo Bank, 6.76 percent; TD Bank, 5.47 percent; JPMorganChase Bank, 4.28 percent; First Niagara Bank, 3.41 percent; Citibank, 2.81 percent; Liberty Bank, 2.45 percent; and United Bank, 2.41 percent.
— Gregory Seay
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