Where people in Snohomish County bank
Published 1:30 am Monday, January 23, 2017
Where does Snohomish County bank?
One way to measure that is to look at banking deposits.
The top five banks with the most deposits in the county are national banks headquartered in other states, according to the FDIC or Federal Deposit Insurance Corporation.
Top honors for the county is Bank of America, which has $2.37 billion in deposits in the county or 22 percent of the market share.
The North Carolina-headquartered chain has 21 offices in the county, according to the FDIC. The numbers were tabulated by the FDIC on June 30.
JPMorgan Chase Bank, headquartered in Ohio, comes in second in the county with $1.5 billion in deposits or 14.39 percent deposit share.
Chase actually has the most offices in the county with 25.
Wells Fargo, based in South Dakota, comes in third with $1.4 billion in deposits or 13.25 percent. The bank has 20 offices in the county
The community bank with the most deposits in the county is Coastal Community Bank, the Everett-headquartered bank which ranks eighth in the county with $501 million in deposits and 4.67 percent market share. It has 10 offices in the county.
Heritage Bank, headquartered in Olympia, comes in at ninth with $433 million in deposits or 4.04 percent market share. Heritage, which was formerly Whidbey Island bank, has 12 offices in the county.
The top bank in the county is the top bank in the state, according to the FDIC. Bank of America tops the list followed by Wells Fargo at No. 2, JPMorgan Chase Bank at No. 3, Ohio-headquartered U.S. Bank and Ohio-based KeyBank.
In the state, King County has the most deposits with $76 billion or 53 percent of the state’s market share, according to the FDIC.
Snohomish County ranks second with $10.7 billion in deposits or 7.5 percent of the state’s market share.
That’s ahead of Pierce and Spokane counties, with $10.3 billion and $6.8 billion respectively.
To learn more, go to www.fdic.gov.
| Institution | Snohomish Co. offices | Deposits (millions) | Market share |
|---|---|---|---|
| Bank of America | 21 | $2,367,094 | 22.05% |
| JPMorgan Chase Bank | 25 | $1,544,276 | 14.39% |
| Wells Fargo Bank | 20 | $1,421,100 | 13.24% |
| U.S. Bank | 12 | $668,378 | 6.23% |
| MUFG Union Bank | 7 | $548,695 | 5.11% |
| Opus Bank | 10 | $539,425 | 5.03% |
| Key Bank | 17 | $501,717 | 4.67% |
| Coastal Community Bank | 10 | $501,521 | 4.67% |
| Heritage Bank | 12 | $433,181 | 4.04% |
| Washington Federal | 8 | $396,784 | 3.70% |
| 1st Security of Washington | 4 | $301,663 | 2.81% |
| Banner Bank | 6 | $178,432 | 1.66% |
| HomeStreet Bank | 4 | $172,561 | 1.61% |
| BBCN Bank | 2 | $160,919 | 1.50% |
| Mountain Pacific Bank | 2 | $155,554 | 1.45% |
| Pacific Crest Savings Bank | 1 | $153,528 | 1.43% |
| Columbia State Bank | 5 | $122,976 | 1.15% |
| The Bank of Washington | 4 | $118,354 | 1.10% |
| Peoples Bank | 5 | $105,843 | 0.99% |
| UniBank | 1 | $94,516 | 0.88% |
| Prime Pacific Bank | 2 | $79,197 | 0.74% |
| Umpqua Bank | 2 | $76,494 | 0.71% |
| Skagit Bank | 1 | $43.271 | 0.40% |
| Sound Community Bank | 1 | $38,539 | 0.36% |
| First Financial Northwest | 1 | $10,073 | 0.09% |
