For the third year, First Tennessee Bank clenches on to the number one market share spot in deposits in Tennessee, leading Regions Bank by over four percent. Accounting for 18.3 percent of the market share, First Tennessee had $21,839,582 in deposits – up from $20,242,511 in deposits in 2016, a 7.9 percent growth year over year.
Regions Bank came in second with $16,370,500 in deposits accounting for 13.7 percent of the market, followed by SunTrust Bank with $13,291,363 in deposits for an 11.2 percent share. Bank of America was fourth with $10,991,506 in deposits for 9.2 percent and Pinnacle Bank rounded out the top five with $9,360,156 in deposits or 7.9 percent of the market share.
Additionally, First Tennessee Bank leads in the deposit market share report for Hamilton County for the seventh year in a row. With over 25 percent of the market, First Tennessee had $2,478,654 in local deposits, which is up from $2,307,423 in deposits in 2016, a 7.4 percent growth year over year. Even though First Tennessee held the highest deposit base, they still had the highest growth rate in 2017. The deposits are reported as of June 30.
"We are honored to have the trust of our customers,” said Market President Jeff Jackson. “It’s exciting to welcome new customers selecting First Tennessee as their financial partner as well as generations of customers who continue to bank with us. Their success is our success.”