U.S. Bank remains No. 1 in bank deposits in Wisconsin, but has lost ground to rivals BMO Harris Bank and Associated Bank, a new report by a regulator shows.
Meanwhile, the number of bank branches in the state declined in the past year, continuing a long-running trend as banking becomes more automated and growing numbers of customers handle financial transactions online and with mobile devices.
The Federal Deposit Insurance Corp. reported that U.S. Bank’s deposit market share in Wisconsin was 18.06 percent when the regulator took its nationwide annual survey on June 30. That means that of every $100 on deposit with banks in the state, $18.06 was with U.S. Bank.
But that figure was down from a market share of 22.81 percent in 2017. FDIC records indicated U.S Bank had almost $8.3 billion less on deposit in Wisconsin this year than at the same time in 2017, at $27.1 billion from about $35.4 billion.
Read more in the Milwaukee Journal Sentinel.