U.S. Bank gains top spot in county

Umpqua Bank, which held the No. 1 position for three years, falls to second place
U.S. Bank has displaced Umpqua Bank for the top banking spot in Jackson County.

Plenty has changed in Jackson County banking during the past year, including the market-share leader.

U.S. Bank emerged as the 2013 market leader, ending Umpqua Bank's three-year hold, according to the Federal Deposit Insurance Corp.

Bank Deposits (000s) 2013 share 2012 share

U.S. Bank 540,887 18.67% 13.77%

Umpqua Bank 418,818 14.46% 16.05%

Wells Fargo Bank 406,648 14.04% 13.89

JPMorgan Chase 371,189 12.81% 13.07

AmericanWest Bank 229,756 7.93% 9.97*

KeyBank 197,597 6.82% 7.32%

Bank of America 171,059 5.90% 7.32%

Peoples Bank of Commerce 143,562 4.96% 4.17%

Washington Federal 135,552 4.68% 1.06%

Sterling Savings Bank 134,120 4.63% 5.16%

Evergreen Federal 60,394 2.08% 2.21%

Home Federal Bank 52,182 1.80% 2.25%

Bank of the Cascades 29,209 1.01% 1.12%

Scott Valley Bank 5,882 0.20% 0.15%

Institutions: 14

Total deposits: $2,897 billion

*PremierWest Bank

The FDIC's annual June 30 snapshot, showed U.S. Bank with $540.887 million in deposits, 18.67 percent of the county's $2.897 billion in savings and checking accounts. Umpqua Bank, slipped from 16.05 percent market share a year ago to 14.46 percent with $418.818 million in deposits.

Since June 30, 2012, both PremierWest Bank and South Valley Bank & Trust have gone by the wayside, acquired by healthier financial institutions. In the past three months, a period not covered in the rankings, Umpqua gobbled up Sterling Savings Bank, while Banner Bank is in the process of assimilating Home Federal Bank into its system.

"U.S. Bank is the trusted brand," said Gloria Schell, U.S. Bank's regional president. "While things are changing in the market, we continue to serve business and consumer customers in our market."

U.S. Bank also is the statewide market share leader at 20.6 percent, but hasn't topped Jackson County's chart since a three-year run in 1995-1997.

Schell said U.S. has seen its business and consumer numbers grow. "Consumers have chosen to save more money," she said, alluding to one program that has produced an additional $7 million in savings and money market accounts.

Technically, Umpqua Bank, with the addition of Sterling accounts to its coffers, has corralled more than 19 percent of deposits in the county. However, that deal was announced after the June 30 reading.

Change of ownership at PremierWest and South Valley to AmericanWest and Washington Federal shook up old loyalties and sent some customers looking for new locations.

"I got the sense there was a pretty good local following for PremierWest and through the process maybe people felt disenfranchised by the change, or just the process," said Jeff Rulis, a senior research analyst for D.A. Davidson & Co.

"There's usually a little bit of dislocation in any acquisition and some people go elsewhere."

Rulis said he anticipates more changes on the horizon as banks scramble for market share here and elsewhere.

"Mergers and acquisitions seem to continue and pick up pace given the regulatory pressure on banks is pretty steady," he said. "To the point where some scale makes sense for profitability sake, if you are in a sub-billion asset situation in this environment, it's fairly challenging on stand-alone basis."

Reach reporter Greg Stiles at 541-776-4463 or business@mailtribune.com. Follow him on Twitter @GregMTBusiness, and read his blog at www.mailtribune.com/Economic Edge.


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