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Article: COMMERCIAL CRUSH
- Article from:
- Orange County Business Journal
- Article date:
- February 13, 2006
- Author:
CopyrightCopyright CBJ, L. P. Feb 13-Feb 19, 2006. Provided by ProQuest LLC. (Hide copyright information)
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Deposits Grew at Banks for Fifth Year in a Row; Beating National Average
Deposits at Orange County's largest banks outpaced the national average-again.
The 30 largest banks in OC grew deposits for the fifth year in a row, jumping 12% to $41 billion for the 12 months through June 30, according to this week's Business Journal list.
Banks nationally posted 8.6% deposit growth during the same period, according to the Federal Deposit Insurance Corp. A year ago, OC banks recorded 20% growth in deposits versus a 6% gain for U.S. banks.
Deposit growth at local banks is a product of several factors, including investors parking cash at banks amid tepid gains on Wall Street, an expanding economy that ...