FDIC Reports Market Data

The Federal Deposit Insurance Corp. released the most current deposit market share data on Oct. 18. Of course, a detailed look at the data, which dated back to June 30, will take some time to calculate, tabulate and interpret, but here’s a quick look at some of the high points:

Deposit value grew. Banks in the two-county area are competing for $6.03 billion in deposits, up 15.5 percent from $5.17 billion a year before. Banks in the six-county area are competing for $9.18 billion, up 11.7 percent from $8.22 billion a year before.

And to no one’s surprise, Fayetteville-chartered Arvest Bank still holds the top spot in market share for both the two-county area (Benton and Washington counties, with 41.38 percent), and the six-county area (including Carroll, Crawford, Sebastian and Madison counties, with 31.39 percent). The bank’s share has slipped slightly, though, by 1.66 percent in the two-county and 0.41 percent in the six-county, despite the fact that it added two offices in that time.

But there’s more competition. As of June 30 there were 24 unique institutions in the two-county area (39 in the six-county area) while there were only 19 (and 34) a year before.

Of all the new-to-the-market banks since June 30, 2004, the biggest winner in the deposit game was Pinnacle Bank in Rogers, with a total of 1.01 percent share of the deposits in the two-county area, placing No. 17 on the list.

Fayetteville-based Signature Bank of Arkansas out-performed all other newcomers, because it opened last and still placed 19th in market share with 0.68 percent of the deposits.

Little Rock-based Metropolitan National Bank, which also entered the market late in the year, didn’t make the market share report.