Depositive news for BoFA.
Position | Statewide |
Last year, Bank of America Corp.'s stock took a dive that would have made Greg Louganis proud. But its Tar Heel deposits rose. The jump of 134% helped the state rebound from 2010, when Federal Deposit Insurance Corp.-insured deposits here dropped 32%. The cause of the increase is unclear, but a spokesman says it's due to internal movements. BofA recently reorganized into three major banking units: retail, business and institutional. "I suspect that the movement of deposits around within the overall franchise had something to do with this rearrangement," UNC Charlotte finance professor Tony Plath says.
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By Institution
North Carolina Headquarters Market share Bank of America Charlotte 47.4% Wells Fargo San Francisco 13.6 BB&T Winston-Salem 12.3 First-Citizens Bank & Trust Raleigh 4.3 RBC Bank Raleigh 3.6 SunTrust Bank Atlanta 2.6 First Bank Troy 0.9 Fifth Third Bank Cincinnati 0.7 Yadkin Valley Bank& Trust Elkin 0.6 Bank of North Carolina Thomasville 0.6 United States Deposits Market share (billions) Bank of America $948.7 12.8% Wells Fargo 777.0 10.5 JPMorgan Chase 743.3 10.0 Citigroup 318.8 4.3 PNC Financial Services Group 201.4 2.7 U.S. Bancorp 198.4 2.7 Toronto-Dominion Bank 142.5 1.9 SunTrust Banks 126.8 1.7 Bank of New York Mellon 114.3 1.5 BB&T 113.8 1.5 WORKING CAPITAL WESTERN CHARLOTTE TRIAD TRIANGLE EASTERN Employed: 453,996 984,242 724,014 909,969 998,581 YTD change: 9,115 12,997 17,701 11,804 18,872 Index: 93.6 103.0 95.7 111.8 104.2 Source: Employment Security Commission, October. Figures are not seasonally adjusted. The index is the number of jobs as a percentage of the average in 2000. COUNTY INDEX % change of deposits 1. Alamance 3.0 * 2. Alexander 2.2 # 3. Alleghany 18.2 # 4. Anson 4.6 * 5. Ashe 6.0 * 6. Avery 4.9 # 7. Beaufort 3.3 # 8. Bertie 2.2 # 9. Bladen 4.9 # 10. Brunswick 3.8 # 11. Buncombe 3.6...
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