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Banks' Market Share
aThe Federal Deposit Insurance Corp. has released its 2003 summary of deposits. The Gulf Coast Business Review took the latest annual bank-deposit data as of June 30 and compared it with that of 2002 for the five metropolitan statistical areas on the Gulf Coast.
Many Florida affiliates of the huge multi-state banks suffered a few nicks. Bank of America, for instance, lost share in all five markets. The worst erosion was in Fort Myers, where it lost 91 basis points. Still, the behemoth held the overall deposit lead in every one of the Gulf Coast markets.
World Savings Bank and Third Federal Savings & Loan of Cleveland saw substantial hikes in deposits at their Gulf Coast branches. Several of the region's community banks experienced deposit increases, too.
Here's how it all shook out in the five MSAs:
Fort Myers-Cape Coral
World Savings enjoyed the biggest percentage increase in share of the Fort Myers market. The 108 basis-point jump resulted from a deposit increase of almost $100 million in the Fort Myers market. Sanibel Captiva Community Bank debuted by taking about one-half of 1% of the market. Third Fed and hometown Florida Gulf Bank also picked up market share.
Among the biggest losers, by percentage of surrendered market share, were multi-state giants SunTrust Bank (-163 basis points) and Wachovia Bank (-79).
Naples
First National Bank of Florida grew its deposit base nearly as much as B of A in Naples. By adding $152 million in deposits, First National easily held onto third place with 13.7% of the hometown market. Yet the $2.8-billion-asset bank still managed to return 13.7% on equity through June 30.
B of A (19.4%) and Wachovia (14.6%) are the deposit-share leaders in Naples. But Wachovia and SunTrust each lost around 1% of the Naples market for deposits.
Punta Gorda
Gold Bank assumed American Bank's 3.8% share of the Charlotte County market while World Savings, by adding $69 million in deposits, pushed above 7%. That put the thrift in fifth place in the market behind B of A, SouthTrust Bank, SunTrust and Wachovia.
Locals Englewood Bank and Charlotte State Bank continued to improve their market positions, even as the latter posted a nearly 19% return-on-equity through the second quarter of 2003.
Sarasota-Bradenton
World Savings was again among the winners, this time in the market covering Manatee and Sarasota counties.
Gold Bank grew the $347 million in deposits that it inherited from American Bank while increasing the acquisition's market share. Branch Banking & Trust Co. made a small splash, too.
Among locals, Coast Bank of Florida (35 basis points) and Bank of Commerce (25) and Landmark Bank of Florida (23) scratched out increases in market share.
Provident Bank and Northern Trust continue to have a decent presence in the market.
Tampa-St. Petersburg-Clearwater
In a region where B of A commands a quarter of the market, competitors big and small still managed to eat a tiny bit into the big bank's deposit lead.
AmSouth Bank, now fifth in the market, increased deposits by $410 million. Mercantile Bank ($213 million) and Florida Bank ($177 million) weren't far behind on the leader list of deposit increases.
World Savings (42 basis points), SouthTrust (35) and Encore Bank (22) all showed nice share gains in the $36-billion Tampa deposit market. A slew of smaller local players also recorded increases.
- Francis X. Gilpin
PUNTA GORDA
MarketDepositsMkt. share Share
Institution ($ in 000s)Offices Deposits share 2002 2002gain/loss
Bank of America7$552,078 21.88%$523,903 22.55%-0.67%
SouthTrust Bank10$443,066 17.56%$438,955 18.90%-1.34%
SunTrust Bank7$423,694 16.79%$425,213 18.31%-1.52%
Wachovia Bank7$245,849 9.74%$241,677 10.40%-0.66%
World Savings Bank2$181,775 7.20%$112,408 4.84%2.36%
Peninsula Bank3$119,452 4.73%$104,434 4.50%0.23%
Charlotte State Bank4$116,180 4.60%$95,223 4.10%0.50%
Englewood Bank4$102,483 4.06%$81,776 3.52%0.54%
Gold Bank1$95,279 3.78%$88,754 3.82%-0.04%
Tarpon Coast National Bank1$58,556 2.32%$47,003 2.02%0.30%
Florida Community Bank2$56,022 2.22%$51,072 2.20%0.02%
First Community Bank of America1$49,029 1.94%$43,435 1.87%0.07%
AmSouth Bank2$47,323 1.88%$38,498 1.66%0.22%
R-G Crown Bank1$20,147 0.80%$16,645 0.72%0.08%
Premier Community Bank1$12,641 0.50%$13,855 0.60%-0.10%
TAMPA
MarketDepositsMkt. share Share
Institution ($ in 000s)Offices Deposits share 2002 2002gain/loss
Bank of America120$8,980,343 24.81%$8,241,836 24.86%-0.05%
Wachovia Bank97$4,752,094 13.13%$4,482,852 13.52%-0.39%
SunTrust Bank94$4,727,170 13.06%$4,836,548 14.59%-1.53%
SouthTrust Bank55$2,802,650 7.74%$2,449,663 7.39%0.35%
AmSouth Bank54$2,528,565 6.99%$2,118,852 6.39%0.60%
World Savings Bank11$1,699,104 4.69%$1,416,604 4.27%0.42%
Republic Bank29$897,073 2.48%$836,325 2.52%-0.04%
Third Federal Savings & Loan of Cleveland5$875,806 2.42%$783,837 2.36%0.06%
Raymond James Bank1$804,292 2.22%$743,205 2.24%-0.02%
Mercantile Bank18$626,090 1.73%$412,636 1.24%0.49%
Colonial Bank17$610,643 1.69%$593,037 1.79%-0.10%
Bank of Tampa9$523,158 1.45%$481,008 1.45%0.00%
Florida Bank4$449,850 1.24%$273,066 0.82%0.42%
Branch Banking & Trust Co3$446,363 1.23%1.23%
Southern Exchange Bank18$443,088 1.22%$415,598 1.25%-0.03%
First National Bank of Florida11$388,096 1.07%$337,686 1.02%0.05%
Regions Bank13$315,686 0.87%$381,901 1.15%-0.28%
United Bank & Trust Co8$309,535 0.86%$288,155 0.87%-0.01%
Premier Community Bank of Florida7$303,710 0.84%$263,464 0.79%0.05%
Intervest National Bank5$295,026 0.82%$267,988 0.81%0.01%
R-G Crown Bank5$252,354 0.70%$205,319 0.62%0.08%
First Kensington Bank7$240,083 0.66%$243,950 0.74%-0.08%
Peoples Bank4$195,941 0.54%$155,364 0.47%0.07%
Northern Trust Bank of Florida3$175,192 0.48%$127,252 0.38%0.10%
Sunshine State Federal Savings & Loan5$157,826 0.44%$150,781 0.45%-0.01%
Madison Bank3$158,122 0.44%$161,929 0.49%-0.05%
Provident Bank2$137,665 0.38%$137,193 0.41%-0.03%
Terrace Bank of Florida4$115,493 0.32%$99,939 0.30%0.02%
Valrico State Bank4$112,331 0.31%$100,195 0.30%0.01%
Cornerstone Community Bank4$108,247 0.30%$72,043 0.22%0.08%
BankAtlantic8$110,053 0.30%$123,100 0.37%-0.07%
Bay Cities Bank2$105,314 0.29%$79,598 0.24%0.05%
Encore Bank3$101,372 0.28%$20,887 0.06%0.22%
Platinum Bank2$96,117 0.27%$81,511 0.25%0.02%
Community National Bank of Pasco County4$95,098 0.26%$63,617 0.19%0.07%
Signature Bank3$88,808 0.25%$60,606 0.18%0.07%
First Community Bank of America2$88,580 0.24%$65,577 0.20%0.04%
First Commercial Bank of Tampa Bay1$87,601 0.24%$74,137 0.22%0.02%
Bay Financial Savings Bank1$81,636 0.23%$75,156 0.23%0.00%
First Citrus Bank3$80,185 0.22%$62,081 0.19%0.03%
First State Bank3$76,756 0.21%$49,733 0.15%0.06%
Compass Bank2$71,437 0.20%$72,253 0.22%-0.02%
Heritage Bank of Florida2$67,789 0.19%$49,202 0.15%0.04%
TCM Bank1$68,815 0.19%$51,294 0.15%0.04%
First National Bank of Pasco3$68,458 0.19%$59,270 0.18%0.01%
Bank of St Petersburg2$63,262 0.17%$55,849 0.17%0.00%
First Home Bank1$52,028 0.14%$45,760 0.14%0.00%
Hillsboro Bank1$50,113 0.14%$45,320 0.14%0.00%
Hernando County Bank2$45,730 0.13%$43,519 0.13%0.00%
Gold Bank2$44,158 0.12%$29,206 0.09%0.03%
Capital City Bank2$39,684 0.11%$41,681 0.13%-0.02%
Southern Commerce Bank1$40,127 0.11%$48,831 0.15%-0.04%
Century Bank of Florida1$34,777 0.10%$26,907 0.08%0.02%
Gulfstream Community Bank1$31,328 0.09%$26,610 0.08%0.01%
First National Bank1$25,080 0.07%$28,459 0.09%-0.02%
Palm Bank1$18,444 0.05%0.05%
RBC Centura Bank1$14,802 0.04%$20,825 0.06%-0.02%
Community Bank of Florida4$9,917 0.03%$5,154 0.02%0.01%
Community Bank of Manatee1$4,240 0.01%0.01%
Armed Forces Bank1$2,279 0.01%$1,090 0.00%0.01%
Central Bank of Tampa$172,179 0.52%-0.52%
First South Bank$501,249 1.51%-1.51%
SARASOTA
MarketDepositsMkt. share Share
Institution ($ in 000s)Offices Deposits share 2002 2002gain/loss
Bank of America44$3,056,861 24.62%$2,840,539 25.00%-0.38%
SunTrust Bank26$1,834,241 14.77%$1,941,017 17.08%-2.31%
Wachovia Bank22$1,139,028 9.17%$1,079,840 9.50%-0.33%
SouthTrust Bank23$898,339 7.23%$799,527 7.04%0.19%
Provident Bank11$541,844 4.36%$436,488 3.84%0.52%
World Savings Bank6$483,543 3.89%$326,810 2.88%1.01%
Northern Trust Bank of Florida5$443,770 3.57%$426,148 3.75%-0.18%
Gold Bank8$422,586 3.40%$347,273 3.06%0.34%
Republic Bank12$275,248 2.22%$265,155 2.33%-0.11%
First National Bank of Florida7$267,215 2.15%$241,106 2.12%0.03%
Century Bank7$267,275 2.15%$244,537 2.15%0.00%
Liberty Savings Bank8$256,818 2.07%$321,367 2.83%-0.76%
1st National Bank and Trust5$186,525 1.50%$162,264 1.43%0.07%
Coast Bank of Florida5$170,262 1.37%$115,852 1.02%0.35%
Regions Bank6$166,670 1.34%$181,306 1.60%-0.26%
Third Federal Savings & Loan of Cleveland1$141,756 1.14%$103,530 0.91%0.23%
Branch Banking & Trust Co3$138,704 1.12%1.12%
Sarasota Bank2$135,825 1.09%$119,758 1.05%0.04%
AmSouth Bank7$129,402 1.04%$92,740 0.82%0.22%
Bank of Commerce1$107,641 0.87%$70,986 0.62%0.25%
Bank One3$106,057 0.85%$84,399 0.74%0.11%
Community Bank of Manatee2$101,059 0.81%$96,444 0.85%-0.04%
First State Bank3$93,420 0.75%$90,380 0.80%-0.05%
Peoples Community Bank of the West Coast1$92,177 0.74%$66,213 0.58%0.16%
Landmark Bank of Florida2$89,446 0.72%$55,759 0.49%0.23%
Flagship National Bank2$80,351 0.65%$58,096 0.51%0.14%
Premier Community Bank2$77,751 0.63%$74,878 0.66%-0.03%
Manatee River Community Bank2$77,357 0.62%$66,841 0.59%0.03%
Community National Bank of Sarasota County4$77,170 0.62%$76,761 0.68%-0.06%
United Bank of the Gulf Coast2$75,625 0.61%$62,858 0.55%0.06%
Horizon Bank2$73,413 0.59%$64,660 0.57%0.02%
FloridaFirst Bank4$69,615 0.56%$66,139 0.58%-0.02%
Suncoast Bank2$60,903 0.49%$44,666 0.39%0.10%
First Bradenton Bank1$44,255 0.36%$38,600 0.34%0.02%
Tarpon Coast National Bank2$45,287 0.36%$41,974 0.37%-0.01%
Colonial Bank2$35,479 0.29%$37,278 0.33%-0.04%
Peninsula Bank2$32,962 0.27%$28,378 0.25%0.02%
Harris Bank1$32,395 0.26%$30,187 0.27%-0.01%
Riverside Bank Gulf Coast2$21,793 0.18%0.18%
Fleet National Bank1$15,252 0.12%$8,627 0.08%0.04%
Bank of Venice1$13,801 0.11%0.11%
Englewood Bank1$13,881 0.11%$14,258 0.13%-0.02%
R-G Crown Bank1$12,524 0.10%$17,645 0.16%-0.06%
Orion Bank1$9,759 0.08%0.08%
Fifth Third Bank Florida1$3,098 0.02%0.02%
First South Bank$120,152 1.06%-1.06%
FORT MYERS
MarketDepositsMkt. share Share
Institution ($ in 000s)Offices Deposits share 20022002gain/loss
Bank Of America33$1,543,584 20.98%$1,468,259 21.89%-0.91%
SunTrust Bank20$1,132,494 15.39%$1,141,351 17.02%-1.63%
Wachovia Bank25$1,037,282 14.10%$998,876 14.89%-0.79%
First National Bank of Florida8$470,143 6.39%$472,824 7.05%-0.66%
SouthTrust Bank12$417,995 5.68%$409,263 6.10%-0.42%
Colonial Bank11$342,304 4.65%$325,680 4.86%-0.21%
AmSouth Bank7$269,492 3.66%$225,995 3.37%0.29%
World Savings Bank3$240,503 3.27%$146,715 2.19%1.08%
Third Federal Savings & Loan of Cleveland2$229,971 3.13%$175,437 2.62%0.51%
Fifth Third Bank Florida6$223,068 3.03%$187,403 2.79%0.24%
Atlantic States Bank4$193,715 2.63%$169,347 2.53%0.10%
Northern Trust Bank of Florida3$164,852 2.24%$147,262 2.20%0.04%
Riverside Bank Gulf Coast5$162,667 2.21%$142,989 2.13%0.08%
Edison National Bank4$103,702 1.41%$98,150 1.46%-0.05%
First Community Bank of SW Fla.1$103,051 1.40%$99,806 1.49%-0.09%
Florida Community Bank3$100,692 1.37%$83,401 1.24%0.13%
Old Florida Bank2$90,346 1.23%$87,967 1.31%-0.08%
Southern Community Bank of SW Fla.1$86,950 1.18%$81,299 1.21%-0.03%
Florida Gulf Bank3$85,123 1.16%$47,906 0.71%0.45%
Busey Bank Florida2$75,875 1.03%$44,368 0.66%0.37%
Premier Community Bank of SW Fla.2$43,442 0.59%$26,433 0.39%0.20%
Sanibel Captiva Community Bank1$40,200 0.55%0.55%
Bank One1$37,769 0.51%$32,361 0.48%0.03%
Pelican National Bank3$35,893 0.49%$21,221 0.32%0.17%
Encore Bank1$31,780 0.43%$7,449 0.11%0.32%
TIB Bank of the Keys1$22,337 0.30%$8,178 0.12%0.18%
Orion Bank1$21,353 0.29%$4,481 0.07%0.22%
Englewood Bank1$18,098 0.25%$17,149 0.26%-0.01%
Republic Bank1$18,443 0.25%$20,065 0.30%-0.05%
R-G Crown Bank1$7,905 0.11%$9,137 0.14%-0.03%
Harris Bank1$5,331 0.07%$5,357 0.08%-0.01%
M&I Bank1$1 0.00%0.00%
NAPLES
MarketDepositsMkt. share Share
Institution ($ in 000s)Offices Deposits share 2002 2002gain/loss
Bank of America18$1,315,332 19.37%$1,158,926 19.83%-0.46%
Wachovia Bank17$990,897 14.59%$909,977 15.57%-0.98%
First National Bank of Florida11$930,819 13.71%$778,608 13.32%0.39%
Orion Bank5$476,132 7.01%$413,920 7.08%-0.07%
AmSouth Bank9$410,583 6.05%$346,508 5.93%0.12%
Fifth Third Bank Florida7$399,358 5.88%$308,198 5.27%0.61%
SunTrust Bank7$283,445 4.17%$302,229 5.17%-1.00%
Northern Trust Bank of Florida2$268,564 3.95%$248,524 4.25%-0.30%
Florida Community Bank3$196,981 2.90%$168,587 2.88%0.02%
Community Bank of Naples3$169,964 2.50%$142,519 2.44%0.06%
Pelican National Bank1$163,758 2.41%$110,683 1.89%0.52%
Atlantic States Bank7$141,534 2.08%$140,278 2.40%-0.32%
Bank Of Florida2$121,486 1.79%1.79%
First Florida Bank1$111,893 1.65%$78,063 1.34%0.31%
SouthTrust Bank4$106,957 1.58%$122,349 2.09%-0.51%
Third Fed. Savings & Loan of Cleveland1$93,463 1.38%$67,955 1.16%0.22%
Bank One1$65,556 0.97%$47,437 0.81%0.16%
Huntington National Bank2$57,720 0.85%$56,060 0.96%-0.11%
Colonial Bank3$56,244 0.83%$53,081 0.91%-0.08%
Bank of Naples1$54,522 0.80%$38,284 0.66%0.14%
Royal Palm Bank of Florida2$51,035 0.75%$16,117 0.28%0.47%
Marine National Bank of Naples1$42,199 0.62%$51,055 0.87%-0.25%
Branch Banking & Trust Co1$41,608 0.61%0.61%
Southern Community Bank of SW Fla.1$40,237 0.59%0.59%
BankUnited1$38,896 0.57%$35,971 0.62%-0.05%
Comerica Bank1$34,108 0.50%$20,682 0.35%0.15%
Republic Bank1$28,458 0.42%$35,520 0.61%-0.19%
TIB Bank of The Keys2$28,100 0.41%$5,457 0.09%0.32%
M&I Bank1$24,513 0.36%$15,881 0.27%0.09%
Harris Bank1$20,612 0.30%$23,365 0.40%-0.10%
US Trust Co of Florida2$13,979 0.21%$15,450 0.26%-0.05%
JP Morgan Trust Co1$7,488 0.11% $- 0.00%0.11%
PNC Bank1$4,477 0.07%$4,226 0.07%0.00%
First South Bank$40,940 0.70%-0.70%
Citizens National Bank of SW Fla.$87,294 1.49%-1.49%
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