The annual Summary of Deposits report from the Federal
Deposit Insurance Corporation, a snapshot of US banking market
metrics and one of the most eagerly awaited sets of US banking
data, reveals that the number of bank branches in the US has fallen
for the second year running. Douglas Blakey reports.


Table showing the largest 30 retail banks in the US, ranked by branches The Summary of Deposits (SD) report 2011, released
by the FDIC, gives a comprehensive snapshot of the world’s largest
banking industry as of 30 June for all FDIC-insured commercial
banks, savings institutions and insured branches of foreign banks
in the US.

In the past 12 months, the number
of branches in the US fell for only the second time in more than a
decade. US banks had 98,201 branches nationwide, down from 98,516
outlets in 2009.

The figure peaked at 99,549
branches as of June 2008. Wells Fargo shows the biggest decline in
branch numbers, down by a net 191 units from 6,587 to 6,396

Bank of America (BofA) remains the
second-largest bank by branches but its network of 5,856 has
declined by more than 6% from 6,240 units in June 2009; in the past
year it closed a net 186 branches.

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By contrast, Chase’s branch network
increased by 3% last year to 5,437 units (a net increase of 180

The 11th-largest bank by branches,
Toronto Dominion, reported a 16% increase in its network, opening a
net 179 outlets to total 1,300 units.

As for total deposits, figures for
the year to 30 June show an increase of 7.5% to $8.25trn. In the
year to 30 June 2010, sector wide deposits increased by only 2%.
The top US retail banks by total deposits – BofA, Wells Fargo,
Chase and Citigroup – remain unchanged from a year ago.

US Bank and PNC swapped places from
last year, with the former now ranking as the fifth largest with
PNC sixth. Deposits increased by almost 11% at Capital One, which
moved up one place to rank eighth.

Outside the top 10, notable deposit
increases were posted by M&T (deposits increased by 26.9% to
rank 16th), Santander’s US retail subsidiary, Sovereign (up 14% to
rank 19th) and BNP Paribas’ US unit, Bank of the West (up 11.6% to
rank 20th).

Digital focused USAA and Ally Bank
performed particularly strongly and reported deposit growth of 17%
and 20% respectively and now rank 21st and 26th by deposits.

Only four of the top 25 banks failed to report an increase in
deposits: UnionBanCal, Fifth Third, KeyCorp and Zions.


Table showing the liabilities of the largest 30 retail banks in the US, ranked by deposits