SunTrust remained the largest bank in the Atlanta market with a little more than 28 percent of the total deposits in Atlanta, according to the FDIC’s annual Summary of Deposits. The report, released Tuesday, reflects deposits as of June 30. SunTrust’s share was up slightly over 2016, when it had 27.81 percent of the market’s deposits.
Bank of America passed Wells Fargo for the second spot. This came following a year of banking scandal at Wells Fargo. Bank of America’s share grew to 18.91 percent from 18.62. At the same time, Wells Fargo dropped from 18.66 to 18.31 percent.
Together, those three have combined deposits in the Atlanta market of almost $108.9 billion with 482 branches. That accounts for more than 65 percent of bank branches in the market.
Atlanta’s overall banking footprint shrank by 59 branches, according to the FDIC. The market reported 1,225 bank branches this year, down from 1,284 a year ago. Deposits, however, grew to $166.9 billion from $156.2 billion.
Statewide, there were more branches closing and a smaller growth in deposits. Georgia lost 95 bank branches over the year, and the state’s overall deposits grew by $5.5 billion to $240.8 billion. That means total deposits outside the Atlanta market actually shrank by $5.2 billion.
SunTrust also remained the largest bank in the state by deposits, with 22.53 percent of Georgia’s deposits. Wells Fargo held the second spot in Georgia, followed by Bank of America. Synovus, a bank holding company based in Columbus, was No. 4 statewide.
Synovus dominated its home market, with 63.09 percent of deposits in Columbus. It also was the top bank in Athens, with 23.15 percent of deposits.
SunTrust was the largest bank in Savannah with 25.19 percent of that market’s deposits. Wells Fargo was largest in Augusta with 21.82 percent, and Renasant Bank was the largest in Albany at 15.68 percent. State Bank & Trust had the largest share of the Macon market at 30.68 percent.
