While PNC Bank retains its commanding lead as Pittsburgh's biggest bank, the latest government market share data show a few changes to the top 10 rankings in the region.
Hermitage-based First National Bank of Pennsylvania zoomed ahead to become the area's third largest bank, owing to its takeover of Parkvale Financial in January. The acquisition of the Monroeville institution pushed FNB up from No. 7 last year.
Indiana, Pa.'s First Commonwealth dropped to No. 7 from No. 5, falling one notch below Columbus, Ohio-based Huntington Bank, which remained at No. 6.
The rest of the order remained the same.
The latest rankings were based on deposit share data for the year ended June 30, released Wednesday by the Federal Deposit Insurance Corp.
PNC continued to dominate the market with a 44.1 percent share of deposits. Rhode Island-based Citizens Bank held on to its No. 2 spot with a 7.1 percent share, followed by FNB at 3.7 percent, Pittsburgh-based Dollar with 3.6 percent and First Niagara, headquartered in Buffalo, N.Y., with 2.9 percent.
Rounding out the top 10 were Huntington, 2.6 percent; First Commonwealth, 2.5 percent; S&T Bank of Indiana, Pa., 1.6 percent; Northwest Savings in Warren, 1.1 percent; and ESB Bank, Ellwood City, 0.9 percent.
Nine of the top 10 banks showed an increase in deposits over the prior year. The only decline was posted by First Niagara, which saw deposits fall 5.6 percent.
The top 10 rankings exclude Bank of New York Mellon, which sold its branch banking business to Citizens in 2001, and TriState Capital Bank, a boutique bank serving mid-sized businesses and high net worth individuals.
To see market share data for the 59 financial institutions in the Pittsburgh region, visit http://www3.fdic.gov/sod/sodMarketBank.asp?barItem=2, and select "metropolitan statistical area" from the drop down menu.businessnews
Patricia Sabatini: firstname.lastname@example.org or 412-263-3066.