Fayetteville-based Arvest Bank moves into third place in the most recent FDIC bank deposit market share report. Arvest displaces Tulsa-based F&M Bank & Trust Co. from that position for the first time in a decade.
The FDIC updated its market share report this week based on deposits as of June 30.
Bank of Oklahoma and Bank of America retained their first and second place slots with 23.89 and 9.98 percent of the deposit share respectively.
BOk reported $4.01 billion in deposits inside the market, down 3.36 percent from its $4.15 billion reported in 2007. Bank of America’s market share jumped 20.05 percent from $1.4 billion to $1.68 billion.
Arvest broke the $1 billion deposit mark with a 29.36 percent increase in deposits from $947.6 million in 2007 to $1.26 billion as of June 30. The bulk of that $278.2 million increase can be attributed to Arvest’s acquisition of the three M&I bank locations in Tulsa from Marshall & Ilsley Corp. in July 2007. M&I ranked No. 17 in the 2007 market share report with $245.6 million in deposits inside the market.
Arvest’s in market deposits represented a 7.3 percent share.
F&M has held the third-place slot in market share since 1998 when it overtook Liberty Bank & Trust Co. of Tulsa. F&M’s deposit share increased 9.82 percent in the past year from $1.04 billion to $1.14 billion, a 6.8 percent share.
Liberty Bank merged into Bank One Trust Co. in 1997, which was merged into JPMorgan Chase in 2006.
The market share report is based on deposits in the Tulsa MSA, which includes Creek, Okmulgee, Osage, Pawnee, Rogers, Tulsa and Wagoner counties.
The Top 10 banks, their in-market deposits and percent share in the Tulsa market are (dollar figures are in thousands):
1?ank of Oklahoma NA%9$4,012,136?3.89%
2?ank of America NA%9$1,675,436?.98%
4?&M Bank & Trust Co.%9$1,142,101?.80%
6%9JPMorgan Chase Bank NA%9$630,982?.76%
9%9ONB Bank & Trust Co.%9$461,313?.75%
10?merican Heritage Bank%9$460,875?.74%