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2023-04-30 16:58:06

₿rMoon on Nostr: The top 15 banks control 75% of deposits in the US. Percentage of Deposits Controlled ...

The top 15 banks control 75% of deposits in the US. Percentage of Deposits Controlled by US Banks:

1. JP Morgan: 16.1%
2. Bank of America: 14.8%
3. Wells Fargo: 10.9%
4. Citibank: 5.8%
5. US Bank: 3.4%
6. Truist: 3.4%
7. PNC Bank: 3.3%
8. TD Bank: 2.9%
9. Charles Schwab: 2.7%
10. Capital One: 2.6%

Meanwhile, JP Morgan and Bank of America are potential bidders for First Republic Bank which is failing. Shares of First Republic were in free-fall all week. The stock price, which peaked in early February at $147, began the week around $14 and closed Friday at $3.51.

It’s a steep fall for First Republic, which was well regarded in the banking industry and enjoyed rapid growth in recent years. Over the past four years, its total assets more than doubled to $212 billion, and its workforce grew to more than 7,200 employees from around 4,500.
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