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Berkshire Hills Bancorp in Pittsfield, Mass., and Community Bank System in DeWitt, N.Y., have struck deals to buy branches from Bank of America.
July 24 -
Washington Federal (WAFD) in Seattle has agreed to buy 51 branches from Bank of America (BAC).
July 19 -
For banks looking to poach customers disaffected by mergers among rivals, there is plenty of opportunity. More than 20% of deposits have changed hands recently in about 50 markets around the country.
March 27
You win some and you lose some.
Flipping through market share statistics shows a riot of steps forward and steps back, with a banks deposit growth outstripping competitors in some markets and falling short in others. Few banks notch across-the-board gains in their major markets and managing the feat in successive time intervals is even rarer. (The following graphic compares changes in deposits held by each institution in a group of 59 banks in large markets versus changes in total deposits in the markets. Text continues below.)
U.S. Bancorp (USB) has done well. In its 20 biggest markets, its deposits grew faster from 2011 to 2012 than total deposits in all but three of the markets. (
JPMorgan Chase (JPM) has also performed admirably, falling behind in only one of its 20 biggest markets Portland, Ore. where its 6.3% growth compared with market growth of 7.5%.
The data excludes branches with more than $1 billion of deposits to reduce distortions from unusually large stockpiles of customer money held at a relatively small number of locations. JPMorgan Chase used the same criteria in
Over a longer time frame, U.S. Bancorp and JPMorgan Chase performed well in their largest metropolitan statistical areas, or economically integrated regions around urban cores with a populations of 50,000 or more. For instance, from 2007 to 2012, U.S. Bancorps growth rates in the Minneapolis and St. Louis markets roughly doubled each markets growth overall.
Including smaller markets, JPMorgan Chases record is still good, though not quite as good. From 2007 to 2012, the companys deposits around Austin, Texas, grew by 1.6%, compared to 26.8% for the overall market.
At Bank of America (BAC), which
Broadly, the data shows that there are many flanks in the war for deposits.