What are Chattanooga's top five biggest banks?

What are Chattanooga's top five biggest banks?

October 25th, 2011 by Staff Report in Business Around the Region

A First Tennessee bank location is seen in this file photo.

Photo by Dan Henry/Times Free Press.

Among 30 banks operating in metropolitan Chattanooga, the five biggest banks have nearly 65 percent of the local deposits. Overall, bank deposits in metro Chattanooga totaled $8.48 billion as of June 30, or 0.2 percent higher than a year ago. The biggest banks as of June 30 were:

1 First Tennessee, $1.82 billion in deposits, up 14.8 percent from a year ago. Memphis-based First Tennessee operates 22 local offices and has 21.5 percent of the market's deposits.

2 SunTrust, $1.55 billion in deposits, up 2.7 percent from a year ago. Atlanta-based SunTrust operates 30 local offices and has 18.3 percent of the market.

3 Regions, $1.26 billion in deposits, down 9.9 percent from a year ago. The Birmingham, Ala.-based Regions operates 23 local offices and has 14.92 percent of the market.

4 Northwest Georgia, $436.5 million, down 14.8 percent from a year ago. Ringgold, Ga.-based Northwest Georgia operates 10 offices, or 5.15 percent of the market.

5 FSG, $413.3 million, down 19.4 percent from a year ago. The Chattanooga-based First Security operates nine offices and has 4.87 percent of the market.

Source: Federal Deposit Insurance Corp. Deposits as of June 30, 2011, compared with June 30, 2010