28 November 2007
Where the dollars are
It wasn't that long ago when you couldn't even have branch banks in Oklahoma, the sort of policy which discouraged out-of-state banks from competing which, I have to assume, was the whole idea. Now that this rule and some others have been scrapped, you might wonder if the Big Boys from the Coast have taken over.
Oklahoma and its largest metropolitan areas are highly competitive banking markets, Federal Deposit Insurance Corp. statistics show. Oklahoma had the fifth-lowest concentration in its banking market in 2004, the FDIC said.
The state's largest bank, Bank of Oklahoma, controls just more than 11 percent of deposits, and the five biggest institutions manage about one-third of all deposits. By contrast, the five largest banks in Texas hold more than half of all deposits. In Arizona, the three largest banks control nearly two-thirds of state deposits.
Things I noticed:
One of the Big Boys bought out my bank, and I haven't moved. Yet.Posted at 6:57 AM to Common Cents , Soonerland