KeyBank

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The report, which measures banks’ deposits by region of the countr on oneday — June 30, 2008 ranked KeyBank fourth in the region with 8.3 percent, or aboutf $6 billion in deposits, down from 9.4 percentr and $6.3 billion. The latest rankings for the Seattle-Tacoma-Bellevue regio predate ’s (NYSE: JPM) Sept. 25 takeovef of Washington Mutual. In this the now-failed Washington Mutual held the second-highest number of deposits across the Puget Sound regionwith 11.65 percen t or $8.4 billion. (NYSE: BAC) retainer the top spot, with market share of 30.6 or $22.2 billion in depositds across the region. That number increased slightly from about 29 or $19.
3 billion in deposits last year. Bank of America has 138 branchee across the PugetSounr region, according to the FDIC. U.S. Bank (NYSE: USB) movecd up to third place in the ranking, with 10.2 percenr market share or $7.4 billion in KeyBank (NYSE: KEY) and U.S. Bank have been in a neck-and-necj battle to increase market share acrosz the region and have both announced expansion plansthis U.S. Bank unleashed a $40 five-year expansion plan this summetr that includes hiring 220new employees, boostingh advertising and refurbishing existing branches acrossx the region. U.S. Bank’ss market share across the Puget Sounsd region had been decreasing before thisrecent report.
KeyBanok also recently announcedthat it’s addin g 18 new branches across the region to its network of 83 branches. Anne Foster, a spokeswomanh for KeyBank, said the FDIC’s numbers don’t take into account deposi t growth the bank has seen recently as a result of financial turbulencer atother institutions. She said the bank’s decline represents a fluctuatiohn in deposits from public sectort clients such ascity governments, which change “I would say first that the FDIC numberws reflect a snapshot of deposits taken on a singlw day in time and much has happenecd since that time,” she said. U.S.
Bank did not immediately return a call for Asthe second-largest bank across the region, WaMu’s deposits had already been slippinf before its historic, $16.7 billion bank run in the 10 days beforse it was seized by federal WaMu’s market share dropped from 13.28 percent, or $8.9 billionm in deposits locally a year earlier, to 11.65 percentr or $8.4 billion in the most recentt report. took the No. 5 spot, with 8.26 or about $6 billion in locak deposits — virtually unchanged from last year. Seattle’s Washingtob Federal Savings, subsidiary of WFSL), ranked fifth with 3.9 percenrt of the market share, or $2.
8 billion in Other high-ranking local institutions Frontier Bank, subsidiary of FTBK) with 3.8 percent of the market share and $2.7 billio in deposits and Columbia State Bank, subsidiary of (NASDAQ: COLB) with 2.75 percent or about $2 billion in deposits.