Florida Trend | Florida's Business Authority

The Evolution of Florida Banking

The Florida Banking Market in 1995
» 358 banks and bank holding companies
» 4,219 offices
» $177 billion in deposits
» Combined market share of five largest:
? ? 57.6%
» Combined market share of 10 largest:
? ? 68.17%

The Florida Banking Market in 2009
» 341 banks and bank holding companies
» 5,820 offices
» $401 billion in deposits
» Combined market share of five largest:
? ? 52.58%
» Combined market share of 10 largest:
? ? 63.35%
Interactive Chart:
Click a bank's name (in the left column) to follow its evolution in Florida.
1995: No. 1 Barnett Banks, Jacksonville, acquires Community Bank of the Islands and First Federal Savings and Loan of Lake Wales for $20 million
1996: Barnett
consolidates its 28
individual banks into one statewide bank, setting
the stage for acquisition
1998: Acquired by NationsBank for $15.5 billion in stock. NationsBank moves to No. 3
1999: NationsBank acquires Bank of America for $43 billion. Takes Bank of America name. Moves to No. 1
2009: No. 1 Bank of America, Charlotte, N.C
1995: No. 2 First Union acquires Society First Federal Savings Bank ($1.47 billion in assets), Fort Myers, for $188 million
1996: Buys the parent of Home Savings, Hollywood, ($1.2 billion in assets)
for $336 million
2001: First Union wins a fight with SunTrust to acquire Wachovia. Takes Wachovia name
2004: Wachovia
($437 billion in assetspays $14.3 billion to acquire SouthTrust ($54 billion in assets), Birmingham, Ala
2006: Wachovia acquires Golden West Financial, parent of World Savings and Loan, for $25.5 billion. Briefly becomes No. 1
2008: Acquired by Wells Fargo, San Francisco
2009: No. 2 Wells Fargo,
San Francisco
1995: No. 3 SunTrust Banks, Atlanta
2001: Buys 141 Florida branches of Ohio-based Huntington National Bank for $705 million
2006: Acquires Ponte Vedra National Bank
2008: Acquires $225 million in deposits of the failed First Priority Bank, Bradenton, from the FDIC
2009: No. 3 SunTrust, Atlanta
1995: No. 4 NationsBank acquires Intercontinental Bank, Miami, for $218 million in stock
1996: Acquires Chase Federal Bank, Miami, for $280 million. Acquires Citizens Federal Savings for $516 million
1998: Acquires Barnett Banks for $15.5 billion in stock. Moves to No. 3
1999: NationsBank acquires Bank of America for $43 billion. Takes Bank of America name. Moves to No. 1
2009: No. 1 Bank of America, Charlotte, N.C
1995: No. 5 Great Western Bank, Chatsworth, Calif.
1997: Acquired by Washington Mutual, Seattle, for $6.8 billion
2008: WaMu is acquired by JPMorgan Chase Bank, New York, from FDIC for $1.9 billion in the largest bank failure in U.S. history.
2009: No. 6 JPMorgan Chase Bank, New York
1995: No. 6 AmSouth Bank,Birmingham, Ala
2006: Acquired by Regions Bank, Birmingham, Ala., for $9.8 billion
2009: No. 4 Regions Bank,Birmingham, Ala.
1995: No. 7 Home Savings of America, Irwindale, Calif.
1997: Florida branches acquired by SouthTrust
2004: SouthTrust buys FloridaFirst Bancorp, Lakeland, for $146 million. Acquired by Wachovia
2004: Wachovia
($437 billion in assetspays $14.3 billion to acquire SouthTrust ($54 billion in assets), Birmingham, Ala
2006: Wachovia acquires Golden West Financial, parent of World Savings and Loan, for $25.5 billion. Briefly becomes No. 1
2008: Acquired by Wells Fargo, San Francisco
2009: No. 2 Wells Fargo,
San Francisco
1995: No. 8 Citizens Federal Bank, Miami
1996: Acquired by NationsBank
1998: NationsBank acquires Barnett Banks for $15.5 billion in stock. Moves to No. 3
1999: NationsBank acquires Bank of America for $43 billion. Takes Bank of America name. Moves to No. 1
2009: No. 1 Bank of America, Charlotte, N.C
1995: No. 9 SouthTrust, Birmingham, Ala.
1996: Acquires Preferred Bank, Palmetto, for $8.8 million. Acquires FirstMerit Bank, Clearwater, a unit of First Merit Corp
2004: Buys FloridaFirst Bancorp, Lakeland, for $146 million. Acquired by Wachovia
2006: Wachovia acquires Golden West Financial, parent of World Savings and Loan, for $25.5 billion. Briefly becomes No. 1
2008: Acquired by Wells Fargo, San Francisco
2009: No. 2 Wells Fargo,
San Francisco
1995: No. 10 World Savings and Loan, Oakland, Calif.
2006: Acquired by Wachovia
2008: Wachovia acquired by Wells Fargo, San Francisco
2009: No. 2 Wells Fargo,
San Francisco
1996: Colonial Bank, Montgomery, Ala., enters the Florida market by acquiring Southern Bank of Central Florida, Orlando
2002: BB&T, Winston-Salem, N.C., enters the Florida market
2004: After acquiring 18 institutions, Colonial enters the top 10 in Florida market share at No. 8
2007: Purchases Commercial Bank of Florida, Miami, and Citrus & Chemical Bank, Lakeland
2009: Colonial (then No.5) fails. BB& T acquires Colonial’s branches and deposits in an FDIC-brokered sale
2009: No. 5 BB&T, Winston-Salem, N.C.
1995
2009
1 Barnett Banks
Jacksonville; 19.22% market share; 656 offices; $34 billion in Florida deposits
1 Bank of America
Charlotte, N.C.; 18.15% market share; 661 Florida offices; $72.8 billion Florida deposits
2 First Union
Charlotte, N.C.; 15.07% market share; 571 offices; $26.7 billion in Florida deposits
2 Wells Fargo
San Francisco; 16.02% market share; 724 Florida offices; $64.3 billion in Florida deposits
3 SunTrust Banks
Atlanta; 9.71% market share; 397 Florida offices; $17.2 billion in Florida deposits
3 SunTrust
Atlanta; 9.95% market share; 565 offices; $39.9 billion in Florida deposits
4 NationsBank
Charlotte, N.C.; 9.66% market share; 376 Florida offices; $17.1 billion in Florida deposits
4 Regions Bank
Birmingham, Ala.; 4.35% market share; 428 Florida offices; $17.5 billion in Florida deposits
5 Great Western Bank
Chatsworth, Calif.; 3.94% Florida market share; 120 Florida offices; $7 billion in Florida deposits
5 BB&T*
Winston-Salem, N.C.; 4.11% market share; 308 Florida offices; $16.4 billion in Florida deposits
6 AmSouth Bank
Birmingham, Ala.; 3.05% Florida market share; 135 Florida offices; $5.4 billion in Florida deposits
6 JPMorgan Chase Bank
New York; 2.68% market share; 243 Florida offices; $10.8 billion Florida deposits
7 Home Savings of America
Irwindale, Calif.; 2.54% market share; 40 Florida offices; $4.5 billion in Florida deposits
7 Citibank
New York; 2.22% market share; 52 Florida offices;
$8.9 billion in Florida deposits
8 Citizens Federal Bank
Miami.; 1.84% Florida market share; 39 Florida offices; $3.3 billion in Florida deposits
8 BankUnited
Miami; 2.07% market share; 85 Florida offices; $8.3 billion in Florida deposits
9 SouthTrust
Birmingham, Ala.; 1.65% Florida market share; 123 Florida offices; $2.9 billion in Florida deposits
9 Raymond James Bank
St. Petersburg; 1.9% market share; 1 Florida office; $7.6 billion in Florida deposits
10 World Savings and Loan
Oakland, Calif.; 1.49% market share; 20 Florida offices; $2.6 billion in Florida deposits
10 Fifth Third Bank
Cincinnati; 1.9% market share; 167 Florida offices; $7.6 billion in Florida deposits

*BB&T data includes Colonial Bank

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