Fulton Bank remains Lancaster County’s biggest bank, but now has its largest lead ever, a new federal report shows.
The Lancaster-based bank holds 27.66% of all bank deposits in the county, the Federal Deposit Insurance Corp. reported Friday.
That was 10.76 percentage points more than runnerup BB&T, which holds 16.90%, according to the FDIC.
The market-share report compares the amount of deposits for each bank at all of its Lancaster County branches as of June 30.
The annual FDIC market-share data is publicly available back to 1994. Of those 26 years, Fulton has been the leader all but three times, according to LNP records.
Most recently, Fulton has been on top for the last five years.
In the latest fiscal year, Fulton posted a double-digit lead for the first time even though its market share was virtually unchanged from 2018’s 27.78%.
So how did Fulton expand its lead by nearly 2 percentage points without growing its own market share?
Its margin widened because BB&T lost roughly that much market share from its 2018 portion of 18.78%.
The rest of the top five banks in 2019 also stayed in the same order as in 2018: third, PNC; fourth, Wells Fargo; and fifth, Ephrata National.
But the remainder of the top 10 saw a complete shakeup.
They are: sixth, Northwest (up from 13th); seventh, Bank of Bird-in-Hand (up from 11th); eighth, Citizens (up from ninth); ninth, S&T (up from 12th); and 10th, M&T (down from seventh).
Northwest was catapulted higher by acquiring Union Community. Bank of Bird-in-Hand added a Paradise location and a mobile bank.
The other banks here, in order of market share, are: 11th, Santander; 12th, First National; 13th, Univest; 14th, Orrstown; 15th, Coatesville Savings; 16th, Jonestown; 17th, PeoplesBank; 18th, Mid Penn; 19th, First Citizens; 20th, LinkBank; 21st, Woodforest National; and 22nd, Centric.
Lancaster County’s 22 banks have 182 bricks-and-mortar locations here holding a collective $11.67 billion in deposits, according to the FDIC report.