Commerce Bank overtakes MSA's deposit market share

Commerce Bank now controls the greatest portion of the deposit market share in the Springfield metropolitan statistical area, overtaking Great Southern Bank, which has held the No. 1 spot since 2002.

The Federal Deposit Insurance Corp. released the updated market share rankings Oct. 4. The data is based on deposits at FDIC-insured institutions as of June 30.

Commerce holds 12.53 percent of the deposit market share while Great Southern holds 12.37 percent in the five-county MSA comprising Greene, Christian, Dallas, Polk and Webster counties.

As of June 30, Commerce reported deposits of $932.5 million at 13 branches in the Springfield MSA, and Great Southern held deposits of $920.7 million in its 25 area branches.

Great Southern still controls the top spot in the city with 15.85 percent of the deposit market share. Commerce is No. 2 with 13.7 percent.

In last year's MSA deposit market share report based on deposits as of June 30, 2010, Great Southern had 14.6 percent of the market share with $1.1 billion in deposits at 25 area branches, while Commerce held 10.9 percent of the market share and had $831.7 million in deposits at 12 branches in the MSA.

Great Southern took control of the Springfield MSA's deposit market share June 30, 2002, when the bank system's market share was 14.9 percent with $810.7 million in deposits at 14 area branches. Commerce Bank was No. 1 in 2001.

As of June 30, 2011, the Top 10 institutions by deposit market share in the Springfield MSA were:

• Commerce Bank, 12.53 percent, $932.5 million;
• Great Southern Bank, 12.37 percent, $920.7 million;
• Empire Bank, 11.98 percent, $891.9 million;
• Liberty Bank, 7.56 percent, $562.5 million;
• Guaranty Bank, 6.53 percent, $486;
• BancorpSouth, 4.5 percent, $335.2;
• Bank of America, 4.25 percent, $316.6;
• U.S. Bank, 3.57 percent, $265.7;
• Metropolitan National Bank, 3.45 percent, $256.5; and
• Springfield First Community Bank, 2.49 percent, $185.5.

According to the FDIC, there are 41 institutions in the market, holding $7.4 billion in deposits at 196 bank branches.[[In-content Ad]]