NationsBank’s Market Share Slips; McIlroy Bank & Trust Moves Up

NationsBank Corp.’s share of bank deposits in the Washington County market slipped dramatically in 1998. Figures from the Federal Deposit Insurance Corp. show that NationsBank’s deposits dropped 32 percent between June 30, 1997, and June 30, 1998, the latest date for which those figures are available. (See graphics below.)

Previously, NationsBank led the county in bank deposits, with nearly $361.3 million at June 30, 1997. But a year later, that had fallen to $244.2 million, enough to land the bank at third-place.

Moving into first place in the county was McIlroy Bank & Trust Co., which reported a 16 percent increase in deposits between 1997 and 1998, up to $360 million from $309 million in 1997. As a result, McIlroy Bank now commands nearly 21 percent of the bank deposits within the county.

First National Bank of Springdale experienced a small loss in deposits and in market share, but, because NationsBank’s decline was so dramatic, First National actually moved up from third-place to second. First National’s deposits were listed at $287 million as of June 30, 1998, the equivalent of 16.7 percent of the market. That was down from $289.4 million, or 17.4 percent of the market, in 1997.

In Benton County, Bank of Bentonville still holds a lock on the first-place spot with $473 million in deposits, or 24.7 percent of the total deposits. That’s up slightly from 1997 when the bank reported $419 million in deposits, or 24.3 percent of the market.

First National Bank & Trust of Rogers retained its position as the institution with the second-largest amount of deposits. First National reported $407.4 million in deposits, or 21.3 percent, as of June 30, 1998, up from a year earlier when it had $355.6 million, or a 20.6 percent share.