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FDIC Reports Chase #1 in Deposit Growth

Business Wire
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For the third consecutive year, Chase led the nation in deposit growth as customers added $127 billion to their bank accounts, according to Federal Deposit Insurance Corp. data released this week.

Deposits increased 13.4% — nearly double the industry average of 7.2% — in the 12 months ending June 30, 2014. Chase’s deposits totaled $1.1 trillion.

“We’re investing in both the technology to make banking more convenient, and the expertise to serve our customers’ more complex needs,” said Barry Sommers, CEO of Chase Consumer Banking. “We are in an excellent position to deliver both.”

Chase ranked #1 in three of its five largest markets:

Market 2014 Rank Deposits Growth
New York -NJ 1 $474 billion 8.7%
Houston 1 $104 billion 44.8%
Chicago 1 $88 billion 14.7%
Dallas-Fort Worth 2 $47 billion 11.4%
Los Angeles 3 $43 billion 16.6%

Chase also ranked #1 in a number of other markets in the survey:

  • Detroit-Warren-Dearborn, Michigan: 18.1% increase to $30.8 billion
  • Phoenix-Mesa-Scottsdale, Arizona: 5.9% increase to $19.2 billion
  • Indianapolis-Carmel-Anderson, Indiana: 11.4% increase to $9.6 billion
  • Baton Rouge, Louisiana: 4.1% increase to $7.1 billion
  • Flint, Michigan: 4.9% increase to $1.2 billion
  • Ann Arbor, Michigan: 2.5% increase to $1.1 billion

Chase also holds the largest branch network in each of these cities, except for Baton Rouge, where Chase is ranked second in branches.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE:JPM) , a leading global financial services firm with assets of $2.5 trillion and operations worldwide. Chase serves nearly half of America’s households with a broad range of financial services, including personal banking, small business lending, mortgages, credit cards, auto financing and investment advice. Customers can choose how and where they want to bank: 5,600 branches, 20,000 ATMs, online, mobile and by phone. For more information, go to www.chase.com.

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