Bristol County Savings shows largest deposit growth in region

TAUNTON-BASED BRISTOL COUNTY SAVINGS BANK posted the largest percentage increase in deposits for banks that have more than 1 percent of the deposits in the region, according to FDIC data.
TAUNTON-BASED BRISTOL COUNTY SAVINGS BANK posted the largest percentage increase in deposits for banks that have more than 1 percent of the deposits in the region, according to FDIC data.

PROVIDENCE – Bristol County Savings Bank realized the largest market-share gain for deposits in the Providence metropolitan area for banks that have more than 1 percent of the total deposits in the region during the 12-month period ended June 30.

The Taunton-based bank has the sixth largest market share for deposits in the area with 3.61 percent, which grew 30 basis points compared with the year prior, according to data released Friday by the Federal Deposit Insurance Corp. BCSB grew deposits 12.9 percent to $1.4 billion over the 12 months.
Citizens Bank has the largest deposit share with 28.68 percent, but realized a 1.07 percentage point reduction in share compared with the prior year. The Providence-based bank lost $14.8 million in regional deposits, marking a 13 basis point reduction compared with the prior year.
Charlotte, N.C.-based Bank of America has the second-largest market share for the area with 24.34 percent, and grew its in-market deposits 4.8 percent, or $493 million. Santander Bank has the third-largest market share at 9.3 percent, which is 14 basis points less than the prior year.

The Washington Trust Co., based in Westerly, ranks No. 4, and likewise saw a drop, shrinking 11 basis points to 7.1 percent for the area, but realized an in-market deposit gain of $52.8 million, or 2 percent. Bank Rhode Island grew its market share by 6 basis points to 4.07 percent, growing in-market deposits 5.2 percent, or $78.2 million.

For a full market share report, visit the FDIC website.

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