Madison area residents and businesses sock away more of their money at BMO Harris Bank than any other bank, with more than $3 billion worth of local deposits.
Chicago-based BMO Harris continues to top the list with the highest market share in the Madison area, at 13.6 percent, followed by Associated Bank, of Green Bay, and U.S. Bank, of Minneapolis, among full-service banks — the same rankings they held last year.
Bank market-share results are released once a year by the Federal Deposit Insurance Corp., based on June 30, 2018, records.
In the Madison area, 21 banks claimed at least 1 percent of area deposits, ranging from just under $250 million, at Oak Bank in Fitchburg, to $3.03 billion at BMO Harris.
But only two — BMO Harris and Associated — clinched more than 10 percent of the pot. With $2.53 billion, Associated drew an 11.3 percent share of the market.
Read more in the Wisconsin State Journal.