Great Southern holds lead in local deposits

Posted online September 16, 2019 | 11:55 am

The Top 10

Below are the Top 10 ranking banks in terms of deposit market share in the Springfield metropolitan statistical area as of June 30. Listed are the companies’ deposits, market share and 2018 rank.

1. Great Southern Bank, $1.7 billion, 16%, No. 1

2. Commerce Bank, $1.2 billion, 11.1%, No. 2

3. Central Bank of the Ozarks, $1.16 billion, 10.7%, No. 3

4. Guaranty Bank, $657.8 million, 6.1%, No. 4

5. OakStar Bank, $599 million, 5.5%, No. 6

6. Bank of America, $569.5 million, 5.2%, No. 5

7. Springfield First Community Bank, $471.3 million, 4.3%, No. 7

8. Simmons Bank, $428.6 million, 3.9%, No. 9

9. Old Missouri Bank, $387.5 million, 3.6%, No. 10

10. U.S. Bank, $384 million, 3.5%, No. 8

Great Southern Bancorp Inc. (Nasdaq: GSBC) grew its lead as the No. 1 deposit holder in the Springfield metropolitan statistical area, according to newly released data from the Federal Deposit Insurance Corp.

Springfield-based Great Southern’s deposits were $1.7 billion as of June 30, representing a roughly 16% share of the market among 36 reporting institutions. That’s up from $1.34 billion in MSA deposits as of June 30, 2018, equal to 13.5% of the market.

It’s the third straight year Great Southern has been the leader after years of alternating the top spot with Kansas City-based Commerce Bancshares Inc. (Nasdaq: CBSH), according to past Springfield Business Journal reporting.

At No. 2 spot this year, Commerce Bank’s deposits in the Springfield MSA were $1.2 billion as of June 30. That was 11.1% of the market, according to the FDIC data.

Central Bank of the Ozarks remained in the third spot in the local market, with $1.16 billion in deposits, or a 10.7% share, as of June 30.

No. 4 was Guaranty Bank, which also maintained its spot from 2018. The company reported local deposits of $657.8 million, or 6.1% of the market, as of June 30.

OakStar Bank jumped up a spot to rank No. 5, with $599 million in deposits as of June 30. That’s 5.5% of the market, according to the FDIC data.

Bank of America dropped out of the top five, falling to No. 6 with $569.5 million in deposits, or 5.2% of the local market share, as of June 30.

The 36 reporting institutions in the Springfield metro area reported aggregate deposits of $10.87 billion as of June 30.