Ally Bank and Union Bank posted the largest gains in deposit dollars of the Top 20 Banks in the third quarter of 2013 compared to the previous quarter, while Capital One and Union Bank posted the largest gains over the previous year, according to a Bank Innovation analysis of data from the Federal Deposit Insurance Company released in December 2013. Deposit dollars remained fairly stable in the third quarter compared to the previous quarter, with Ally Bank gaining 3.3%, or $1.3 billion, while Citibank lost 6.6%, or $8.1 billion, of deposit money. On average, the Top 20 banks lost $1 billion of deposits during the quarter. Year-over-year the changes were larger, with Capital One showing an increase of 79.5% mainly stemming from its ING Direct acquisition, the accounts from which are now part of Capital One 360. Union Bank deposits increased $6.7 billion, or 27.7%, resulting in part from the bank’s purchase of Smartstreet homeowner services from PNC Bank and its growth initiatives focused on the southeastern United States. Overall, dollars on deposit increased about 7%, or $8 billion, in 12 months that ended Sept. 30, 2013. HSBC saw the largest decline in dollars on deposits, losing 10.5% since the [...]
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