PROVIDENCE – Retail banking deposits in Bristol County, Mass., grew by 5.6 percent during fiscal year 2018, ended June 30, new federal banking statistics show.
Fourteen of the 16 retail banks operating in Bristol County, which includes Fall River, New Bedford, Seekonk and Taunton, increased their deposits inside the county from June 30, 2017, to June 30, 2018, according to Federal Deposit Insurance Corp. data.
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Deposits within Bristol County totaled more than $10.9 billion as of June 30, up from nearly $10.4 billion a year earlier, FDIC statistics show.
Of the top 10 banks in the county based on market share of deposits, all retained their market share rankings from 2017.
Bank of America again was first with nearly $1.8 billion in deposits within Bristol County for a 16.3 percent market share.
Bristol County Savings Bank was second with nearly $1.6 billion within the county for a 14.5 percent market share.
Santander Bank was third with nearly $1.3 billion within the county for an 11.8 percent market share.
BayCoast Bank was fourth with nearly $1.1 billion within the county for a 9.9 percent market share.
Citizens Bank was fifth with about $947 million within the county for an 8.6 percent market share.
Rounding out this year’s top 10:
- Rockland Trust Co. with about $809 million in deposits within the county for a 7.4 percent market share
- Fall River Five Cents Savings Bank with more than $775 million within the county for a 7.1 percent market share
- Webster Bank with about $676 million within the county for a 6.2 percent market share
- North Easton Savings Bank with nearly $504 million within the county for a 4.6 percent market share
- Mechanics Cooperative Bank with about $401 million within the county for a 3.7 percent market share
The only two banks to see a decrease in deposits were Bank of Easton, which dropped nearly $500,000 to $114.1 million within the county for a 1 percent market share, and Eastern Bank, which dropped about $9.5 million to $55.2 million in deposits within the county for a less than 1 percent market share.
The only two banks to see a change in market share rankings from 2017 were TD Bank, which improved by one ranking to No. 13 with about $114 million in deposits within the county for a 1 percent market share, and Bank of Easton, which dropped one spot to No. 14.
Scott Blake is a PBN staff writer. Email him at Blake@PBN.com.
