Largest Bank In Every State Of 2023

Forbes Money Personal Finance Largest Bank In Every State Of 2023 Andrew DePietro Contributor Opinions expressed by Forbes Contributors are their own. I cover real estate, economics and cost of living. Following May 30, 2023, 04:08pm EDT | Press play to listen to this article! Got it! Share to Facebook Share to Twitter Share to Linkedin Regions Bank, whose headquarters is in Alabama, is the largest bank by in-state deposits in Alabama .

. . [+] and Mississippi.

getty The year 2023 has been a tough one on the banking sector . First, Silicon Valley Bank failed in March 2023, only to be followed in due course by Signature Bank SBNY and the seizure of First Republic Bank FRC in May 2023. For the majority of depositors, whose deposits are typically less than $250,000, their money is insured by the FDIC, so these bank failures didn’t wipe them out completely.

But for those depositors who did have amounts in these banks of more than $250,000, their collapse has been devastating. Although these banks had large amounts in deposits, they do not rank among the biggest banks in the United States. In order to identify the largest banks in the U.

S. , we sourced data from the FDIC to zero-in on the bank in each state that has the greatest amount in deposits from “inside of market,” meaning, inside the state. Largest Bank in Every State of 2023 Not surprisingly, some of the bigger, well-known names like Wells Fargo WFC , Chase , or Bank of America BAC rank as the No.

1 biggest bank in the state. But many other states sometimes have unique and lesser-known banks as their largest. The bank that proved to be the biggest bank in the most states was Bank of America, with 11 states.

Wells Fargo was the largest bank in seven states, followed by Chase Bank in six states. In New England, TD Bank was very prominent, being the largest bank in Maine and New Hampshire. In the Midwest, U.

S. Bank was one of the most dominant banks, being the biggest bank in Minnesota, Ohio, and Wisconsin. In terms of market share inside the state, Citibank claims 62% of the market share in South Dakota, the highest rate of all 50 states plus D.

C. However, it should be noted that South Dakota is also the headquarters of Citibank, which heavily tilted the market share in its favor. In Alaska, Wells Fargo accounts for 44.

2% of the market. And the third greatest market share was in Rhode Island, where Citizens Bank takes up 39% of the market. MORE FOR YOU There’s Something Fishy About ‘The Little Mermaid’ Audience Review Scores — Update — The Critics Must Be Crazy Here Is The Leaked Allegedly Final MCU Fantastic Four Cast It s A Big Deal Crypto Suddenly Braced For A Huge China Earthquake After Bitcoin Ethereum BNB XRP Cardano Dogecoin Polygon And Solana Price Swings Read on to find out the biggest bank in every U.

S. state. Alabama Largest bank in Alabama : Regions Bank Deposits inside market : $32,590,079,000 Alaska Largest bank in Alaska : Wells Fargo Deposits inside market : $7,536,026,000 Arizona Largest bank in Arizona : Chase Bank Deposits inside market : $58,239,182,000 Arkansas Largest bank in Arkansas : Arvest Bank Deposits inside market : $13,803,860,000 California Largest bank in California : Bank of America Deposits inside market : $451,257,611,000 Colorado Largest bank in Colorado : Wells Fargo Deposits inside market : $41,808,963,000 Connecticut Largest bank in Colorado : Bank of America Deposits inside market : $44,720,763,000 Delaware Largest bank in Delaware : Capital One COF Deposits inside market : $176,840,773,000 District of Columbia Largest bank in D.

C. : Bank of America Deposits inside market : $16,255,281,000 Florida Largest bank in Florida : Bank of America Deposits inside market : $181,870,060,000 Georgia Largest bank in Georgia : Truist Bank Deposits inside market : $69,989,862,000 Hawaii Largest bank in Hawaii : First Hawaiian Bank FHB Deposits inside market : $21,035,324,000 Idaho Largest bank in Idaho : Wells Fargo Deposits inside market : $7,830,911,000 Illinois Largest bank in Illinois : Chase Bank Deposits inside market : $139,242,326,000 Indiana Largest bank in Indiana : Chase Bank Deposits inside market : $30,099,728,000 Iowa Largest bank in Iowa : Wells Fargo Deposits inside market : $8,911,513,000 Kansas Largest bank in Kansas : Bank of America Deposits inside market : $6,964,205,000 Kentucky Largest bank in Kentucky : PNC Bank Deposits inside market : $12,654,364,000 Louisiana Largest bank in Louisiana : Chase Bank Deposits inside market : $25,583,103,000 Maine Largest bank in Maine : TD Bank Deposits inside market : $5,703,094,000 Maryland Largest bank in Maryland : Bank of America Deposits inside market : $46,611,103,000 Massachusetts Largest bank in Massachusetts : State Street STT Bank and Trust Deposits inside market : $166,578,000,000 Michigan Largest bank in Michigan : Chase Bank Deposits inside market : $74,899,526,000 Minnesota Largest bank in Minnesota : U. S.

Bank Deposits inside market : $90,879,982,000 Mississippi Largest bank in Mississippi : Regions Bank Deposits inside market : $9,935,210,000 Missouri Largest bank in Missouri : Bank of America Deposits inside market : $24,236,417,000 Montana Largest bank in Montana : Glacier Bank Deposits inside market : $7,706,307,000 Nebraska Largest bank in Nebraska : First National Bank of Omaha Deposits inside market : $14,446,191,000 Nevada Largest bank in Nevada : Wells Fargo Deposits inside market : $26,691,546,000 New Hampshire Largest bank in New Hampshire : TD Bank Deposits inside market : $12,185,268,000 New Mexico Largest bank in New Jersey : Wells Fargo Deposits inside market : $11,400,660,000 New Jersey Largest bank in New Jersey : Bank of America Deposits inside market : $79,650,717,000 New York Largest bank in New York : Chase Bank Deposits inside market : $846,566,598,000 North Carolina Largest bank in North Carolina : Bank of America Deposits inside market : $212,309,529,000 North Dakota Largest bank in North Dakota : First International Bank & Trust Deposits inside market : $3,819,814,000 Ohio Largest bank in Ohio : U. S. Bank Deposits inside market : $95,057,465,000 Oklahoma Largest bank in Oklahoma : BOK Financial Deposits inside market : $17,253,030,000 Oregon Largest bank in Oregon : U.

S. Bank Deposits inside market : $23,408,094,000 Pennsylvania Largest bank in Pennsylvania : PNC Bank Deposits inside market : $142,513,028,000 Rhode Island Largest bank in Rhode Island : Citizens Bank Deposits inside market : $17,282,575,000 South Carolina Largest bank in South Carolina : Wells Fargo Deposits inside market : $20,626,031,000 South Dakota Largest bank in South Dakota : Citibank Deposits inside market : $443,818,000,000 Tennessee Largest bank in Tennessee : First Horizon Bank Deposits inside market : $31,494,241,000 Texas Largest bank in Texas : Charles Schwab SCHW Bank Deposits inside market : $389,489,000,000 Utah Largest bank in Utah : Morgan Stanley MS Bank Deposits inside market : $169,572,000,000 Vermont Largest bank in Vermont : M&T Bank MTB Deposits inside market : $4,660,924,000 Virginia Largest bank in Virginia : Capital One Deposits inside market : $85,062,845,000 Washington Largest bank in Washington : Bank of America Deposits inside market : $49,477,796,000 West Virginia Largest bank in West Virginia : Truist Bank Deposits inside market : $6,631,433,000 Wisconsin Largest bank in Wisconsin : U. S.

Bank Deposits inside market : $43,453,725,000 Wyoming Largest bank in Wyoming : First Interstate Bank FIBK Deposits inside market : $3,130,808,000 Follow me on Twitter or LinkedIn . Andrew DePietro Editorial Standards Print Reprints & Permissions.