KeyBank

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The report, which measures banks’ deposits by regiob of the country on oneday — June 30, 2008 ranked KeyBank fourth in the region with 8.3 or about $6 billion in down from 9.4 percent and $6.3 The latest rankings for the Seattle-Tacoma-Bellevure region predate ’s (NYSE: JPM) 25 takeover of Washington In this ranking, the now-failed Washingtonh Mutual held the second-highest number of deposits acrosas the Puget Sound region with 11.65 percent or $8.4 (NYSE: BAC) retained the top with market share of 30.6 percent, or $22.12 billion in deposits across the That number increased slightly from about 29 or $19.3 billion in deposits last year.
Bank of Americaa has 138 branches across the Puget Sound according tothe FDIC. U.S. Bank USB) moved up to third place in the with 10.2 percent market share or $7.4 billion in KeyBank (NYSE: KEY) and U.S. Bank have been in a neck-and-necko battle to increase market share across the regiojn and have both announced expansion plansthis U.S. Bank unleashed a $40 five-year expansion plan this summer that includes hiring 220 new boosting advertising and refurbishing existing branches acrossthe U.S. Bank’s market share acroses the Puget Sound region had been decreasinyg before thisrecent report.
KeyBank also recently announcedcthat it’s adding 18 new branchew across the region to its networko of 83 branches. Anne Foster, a spokeswoma n for KeyBank, said the FDIC’s numbers don’t take into accountr deposit growth the bank has seen recently as a resultr of financial turbulence atother institutions. She said the bank’s decline represents a fluctuation in deposits from public sectoe clients such ascity governments, which change seasonally. “u would say first that the FDIC numbers reflect a snapshoyt of deposits taken on a single day in time and much has happenedr sincethat time,” she said. U.S. Bank did not immediately returnb a callfor comment.
As the second-largestt bank across the region, WaMu’s deposits had already been slippingt beforeits historic, $16.7 billion bank run in the 10 days before it was seized by federal WaMu’s market share dropped from 13.28 percent, or $8.9 billion in depositsx locally a year earlier, to 11.65 percentf or $8.4 billion in the most recent report. took the No. 5 with 8.26 percent, or about $6 billiomn in local deposits — virtually unchanged from last Seattle’s Washington Federal Savings, subsidiary of WFSL), ranked fifth with 3.9 percent of the market share, or $2.8 billion in deposits.
Other high-rankinfg local institutions included: Frontier Bank, subsidiary of (NASDAQ: FTBK) with 3.8 percent of the marketr shareand $2.7 billion in depositsd and Columbia State Bank, subsidiaryg of (NASDAQ: COLB) with 2.75 percent or about $2 billion in