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BB&T holds top spot in WV bank deposits list

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BB&T continues to lead other banks in West Virginia in deposits, but its market share dropped a bit from 2012 to 2013.

According to data released Sept. 30 by the FDIC, BB&T's 78 offices in West Virginia had $5.415 billion in deposits as of June 30, a drop from $5.439 billion a year earlier.

The bank's market share dropped slightly, from 17.96 percent a year ago to 17.68 percent this year.

Half of deposits in banking companies with offices in West Virginia are in five banks: BB&T, United Bank, Wesbanco Bank, City National Bank of West Virginia and Huntington National Bank.

Although his bank was not the leader in deposits, Andy Paterno, president of Huntington National Bank's West Virginia operations, was pleased with the numbers.

"In our Charleston MSA, we had a pretty good year. We grew 12 percent," Paterno said Oct. 2.

On the consumer side, Huntington emphasized its no-fee checking, a 24-hour grace period for overdrafts and other services to draw new customers, Paterno said.

"We've also had a pretty good increase in our business activity. We are getting new customers — new names to this bank," he said.

In terms of individual offices and branches, BB&T's office at 300 Summers St. in downtown Charleston was the branch with the most deposits in West Virginia, with $1.008 billion.

The remaining top ten branches as ranked by total deposits are:

Wesbanco Bank, One Bank Plaza, Wheeling, $592.4 million

United Bank, 500 Virginia St. E., Charleston, $570.5 million

Huntington National Bank, 900 Lee St., Charleston, $485.3 million

United Bank, 990 Elmer Price Drive, Morgantown, $415.5 million

First Sentry Bank, 823 8th St., Huntington, $334.0 million

BB&T, 10 6th Ave. W., Huntington, $316.2 million

Summit Community Bank, 300 N. Main St., Moorefield, $316.1 million

Huntington Federal Savings Bank, 1049 5th Ave., Huntington, $312.3 million

BB&T, 496 High St., Morgantown, $281.4 million

In total deposits in West Virginia, United Bank ranked second and third, with $3.589 billion and $2.408 billion, respectively. But Wesbanco had more deposits in its offices outside West Virginia, with $2.532 billion vs. $454.5 million for United.

The bank with the most deposits in West Virginia but none outside was Putnam County Bank with $539 million.

 

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