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Wisconsin-based banks have seen their share of total deposits in the state increase by more than one percentage point over the past year, according to new data from the FDIC. Banks headquartered in Wisconsin had…


Wisconsin-based banks have seen their share of total deposits in the state increase by more than one percentage point over the past year, according to new data from the FDIC. Wisconsin-headquartered banks held 51.62% of deposits in the state as of June 30, down from 50.36% at the same time in 2021. The growth reversed a declining trend that saw market share deposits in the state grew by 53.83% in 2019. Overall, deposits in the state grew to $205.9 billion, an increase of 2.5% from 2021. The pace growth has been slower than in recent years – 12% in 2021 and 18.6% in 2020 – when federal stimulus programs helped push up deposits. There were 205 banks in the Wisconsin market this year with 1,742 offices, compared to 210 banks with 1,799 offices a year ago. Five years ago there were 241 banks with 2,034 offices and ten years ago the state had 295 banks with 2,287 offices.

American bank continued to hold the largest in-state deposit market share at 21.1%, up 0.74 percentage points from 2021 to $43.5 billion.

BMO Harris Bankin contrast, saw its share decline by 0.96 percentage points to 11.79%, although it remained the second-largest in terms of deposit share at $24.3 billion.

Associated bank remained the largest Wisconsin-based bank in the state with deposits of $20.6 billion. Its market share increased by 0.17 percentage point to 10.01%.

JPMorgan Chase remained fourth at 7.63% market share. Two Wisconsin-based banks outperformed Wells Fargo for the fifth and sixth.

National Bank of Nicolet, which made two acquisitions between the 2021 and 2022 measurement dates, jumped from seventh to fifth in market share. Its deposits rose nearly 40% to $5.5 billion and its market share climbed 0.71 percentage points to 2.68%.

Johnson Financial Group remained sixth but saw its market share climb 0.1 percentage point to 2.54% Wells Fargo saw its share of state deposits fall 0.97 percentage point to 2.53%. The bank’s deposits in Wisconsin grew from $7 billion to $5.2 billion. Rounding out the top 10 were Municipal bank1.44% market share, up 0.14, Bank first1.27% market share, up 0.05 points, and Former National Bank, 1.25% market share, up 0.52 percentage points. The move of the Old National from 15e at 10e was boosted by its acquisition of First Midwest Bank.

NCP Bank fell 10e in 2021 at 13e this while its market share fell by 0.19 percentage points to 0.98%. Its deposits in the state fell about 13.8% to $2 billion.

First business bank also saw its in-state deposit share fall 0.17 points from 11e at 15e. The bank’s deposits in Wisconsin fell 13.7% to $1.77 billion.

National Exchange and Trust Bank and North Shore Bank the two won a place at 11e and 12e respectively. Both banks saw their market share increase by 0.01 percentage point. National Exchange increased its deposits by 4% while North Shore increased by around 3.2%.

Tri City National Bank stayed in 14e, increasing its market share by 0.05 percentage point to 0.91%. The bank’s deposits increased by 8% year-on-year.