Springfield, MO

Log in Subscribe

Great Southern regains top spot in deposit market share

Posted online

Great Southern Bancorp Inc. (Nasdaq: GSBC) surmounted Kansas City-based Commerce Bancshares Inc. (Nasdaq: CBSH) to once again lead the market in deposit market share, according to data released today by the Federal Deposit Insurance Corp.

Commerce Bank dropped to No. 2 in terms of deposits held in the Springfield metropolitan statistical area. The company had led since 2013. Great Southern reigned for nine straight years until 2011, when Commerce gained ground. Great Southern briefly regained the top spot in 2012, according to Springfield Business Journal archives.

Springfield-based Great Southern had $1.3 billion in deposits in the MSA as of June 30, according to the latest data available from the FDIC. That accounted for 13.4 percent of the market’s total.

Commerce dipped to a 12.1 percent market share with $1.2 billion in deposits.

While both Great Southern and Commerce increased their deposits from last year, their percentage of the market declined. Commerce held 13.53 percent and Great Southern had 13.47 percent as of June 30, 2016.

Central Bank of the Ozarks again placed third on the list with $1.1 billion in deposits and 11.5 percent of the market share, according to the FDIC.

Bank of America Corp. (NYSE: BAC) moved up a spot to overtake the No. 4 slot from Guaranty Federal Bancshares Inc. (Nasdaq: GFED). Bank of America had $706 million in deposits and 7.2 percent of the market share as of June 30.

In fifth place, Guaranty held $568.7 million in deposits and 5.9 percent of the MSA market share, according to the FDIC.

Combined, the top five banks held roughly 50 percent of the MSA’s deposit market share. The FDIC’s deposit market share report lists 38 institutions in the MSA.


No comments on this story |
Please log in to add your comment
Editors' Pick

Open for Business: 5 Elements Esthetics and Makeup Studio LLC and Divine Therapeutic Massage LLC

Business owners and friends Kandice Alexander and Inna Oksenchuk now share space under one roof; Larry Ellison sold his half of EllisonLiggett Litigation Consultants; and Dacia LLC opened.

Most Read