Biggest banks lose market share, slightly
The deposit market share of the 10 biggest U.S. banks shrank slightly over the last year, but they still controlled close to half the market.
The top 10 banks had $3.44 trillion in deposits as of June 30, up from $3.42 trillion a year earlier, according to SNL Financial's annual tally.
But deposits at smaller banks grew more quickly in the period, which trimmed the top 10 banks' market share to 44.8% from 45.2% a year earlier.
The decline was more pronounced for the Big Four banks -- Bank of America, Wells Fargo, JPMorgan Chase and Citigroup. They had $2.61 trillion in deposits at mid-year, or 34% of the market, down from $2.63 trillion or 34.7% a year earlier.
Bank of America still held on to the No. 1 spot, with nearly $899 billion in deposits, or 11.7% of the total market.
Remember the "Move Your Money" campaign aimed at the TBTF (too big to fail) banks? Maybe some people took that to heart, but not enough to make a significant difference.
But the giants now find themselves the target of public wrath once again, thanks to Foreclosure-Gate.
Here is the list of the 50 biggest banks at mid-year: