KBRA Financial Intelligence

Utilize KFI to Create Custom Bank Deposit Reports for States, Counties, and MSAs

New data from the Federal Deposit Insurance Corporation’s (FDIC) latest Summary of Deposits (SOD) report was compiled from a survey of more than 76,000 domestic offices. These locations are operated by more than 4,500 FDIC-insured commercial and savings banks, savings associations, and U.S. branches of foreign banks. KFI Pro subscribers can download this data directly into Excel from the web application. Users can sort deposit trends by institution, state, metropolitan statistical area (MSA), and more for the year ended June 30.

The survey is primarily broken down by MSA. Per the FDIC, an MSA is defined as a region that includes at least one urbanized area with a population of 50,000 or more. MSAs comprise the central county or counties (or equivalent entities) containing the core, plus adjacent outlying counties with a high degree of social and economic integration with the central county.

Texas comprises 26 MSAs and is home to 6,208 bank offices. Of that total, JPMorgan Chase Bank, National Association (KFI Score: B) comprises 478 locations, or roughly 7.7%. However, the bank’s share of in-state deposits is more than twice as large as its physical footprint at 18.2%. That also leads all banks within Texas’ MSAs. Despite maintaining just one office, Charles Schwab Bank, SSB (KFI Score: A), a Texas state-chartered subsidiary of the Charles Schwab Corporation, has managed to attract the second-largest share of the state’s deposits at 15.5%.

Though Texas’ deposits are largely dominated by the commercial and savings bank subsidiaries of the U.S.’s largest bank holding companies, the mix in Massachusetts tilts more toward regional institutions. State-chartered State Street Bank and Trust Company (KFI Score: B-), a commercial banking subsidiary of Boston-headquartered State Street Corporation, maintains a hefty 31.9% of Massachusetts deposits. That far outpaces second-place Bank of America, National Association (KFI Score: B) at 17.2%. Coming in third place is Providence, Rhode Island-headquartered Citizens Bank, National Association (KFI Score: B) with a 10.6% market share. The Providence-Warwick MSA is one of the unique areas with a presence in two states, both Rhode Island and Massachusetts. Citizens Bank maintains the largest number of bank offices within Massachusetts at 188, 9.8% of the state’s 1,913 total locations.

Institutions can also be segmented by state counties, cities, and zip codes via KFI’s Industry tab, as demonstrated below. Users can utilize this functionality to create custom deposit summary reports. To access our full library of banking data, including branch maps and loan/deposit composition data, request a demo with KFI today.