BofA Pressing Deposit Limit

Published October 22, 2007, 1:00 a.m. EDT

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Updated August 27, 2020, 1:35 a.m. EDT

1 Min Read

CHARLOTTESVILLE, Va. - With its acquisition of LaSalle Bank, Bank of America is fast approaching the federal limit on market share of deposits, according to new analysis by SNL Financial. When the Lasalle Bank deal is concluded, Bank of America will have 9.92% of total U.S. deposits, which means it is quickly nearing the 10% national market share threshold. The analysis, based on FDIC data of 97,000 bank branches, shows JPMorgan Chase & Co. remains the country's number two deposit-holder, with 7.01% of the U.S. market, followed by Wachovia at 5.86% of the market. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

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