JPMorgan Chase & Co., the nation’s largest banking company, is looking to make inroads into the Jacksonville market, but it has a long way to go to become a major player in Northeast Florida, according to the latest data compiled by the Federal Deposit Insurance Corp.
JPMorgan Chase had more than $1 trillion in deposits at its 5,670 branches nationwide as of June 30 but in the Jacksonville metropolitan area, it only had $89.2 million at its nine area offices.
The leader in the Jacksonville market continues to be Bank of America, which had $20.8 billion in deposits at 35 area offices, according to the FDIC’s annual update of market share for each U.S. metropolitan area.
That gave Bank of America 42.1 percent of the total deposits of $49.4 billion in the Jacksonville market, but the data is somewhat misleading.
Those deposits likely include large corporate and institutional accounts that are credited to the bank’s main Jacksonville office in the Bank of America Tower Downtown at 50 N. Laura St., but don’t necessarily represent deposits by Jacksonville area residents.
According to the FDIC data, Bank of America’s total deposits in the market include $18.3 billion credited to the Downtown branch.
EverBank ranks second in the market with $12.3 billion in deposits, or 24.9 percent of the market. However, many of the deposits gathered by EverBank come from online customers. The FDIC data shows the bank’s office at 501 Riverside Ave. credited with $11 billion of EverBank’s total deposits.
Wells Fargo Bank is third in the market with almost $6 billion in deposits, a 12.1 percent market share. Wells Fargo leads the market in number of branches with 63.
No other bank has more than a 4 percent share.
Aside from EverBank, the largest locally headquartered bank is The Jacksonville Bank, with $422.8 million in deposits, or just 0.9 percent of the market.
JPMorgan Chase’s market share in Northeast Florida was 0.2 percent as of June 30.
JPMorgan Chase had only one Northeast Florida branch — at its mortgage operations center at 7301 Baymeadows Way — when the FDIC last updated its market share data a year ago, but the company has been aggressively advertising and opening new branches under the Chase brand name.
The company opened its first new Chase branch last fall.
Total number of bank branches, deposits and market share in the Jacksonville metropolitan area for all banks as of June 30, according to data compiled by the Federal Deposit Insurance Corp.
| Bank | Offices | Deposits (in millions) | Market Share |
| Bank of America | 35 | $20,751.4 | 42.1% |
| EverBank | 6 | $12,303.3 | 24.9% |
| Wells Fargo Bank | 63 | $5,973.4 | 12.1% |
| Compass Bank | 25 | $1,934.3 | 3.9% |
| SunTrust Bank | 27 | $1,811.5 | 3.7% |
| Regions Bank | 24 | $1,246.4 | 2.5% |
| BB&T | 14 | $557.5 | 1.1% |
| TD Bank | 7 | $544.4 | 1.1% |
| Ameris Bank | 10 | $469.7 | 1.0% |
| Jacksonville Bank | 9 | $422.8 | 0.9% |
| Fifth Third Bank | 11 | $421.8 | 0.9% |
| FirstAtlantic Bank | 8 | $327.3 | 0.7% |
| Synovus Bank | 6 | $321.0 | 0.7% |
| Atlantic Coast Bank | 8 | $261.8 | 0.5% |
| CenterState Bank | 6 | $245.6 | 0.5% |
| Harbor Community | 6 | $193.6 | 0.4% |
| CBC National Bank | 2 | $185.2 | 0.4% |
| Amer. Enterprise | 2 | $178.2 | 0.4% |
| Florida Capital Bank | 3 | $168.7 | 0.3% |
| CNL Bank | 3 | $145.5 | 0.3% |
| Whitney Bank | 2 | $143.0 | 0.3% |
| First Citizens Bank | 4 | $100.5 | 0.2% |
| JPMorgan Chase | 9 | $89.2 | 0.2% |
| First Federal Bank | 3 | $84.3 | 0.2% |
| Florida Bank | 3 | $71.5 | 0.1% |
| Southeastern Bank | 3 | $71.2 | 0.1% |
| Seaside National | 1 | $62.1 | 0.1% |
| Capital City | 2 | $54.2 | 0.1% |
| Urban Trust | 3 | $53.8 | 0.1% |
| Fidelity Bank | 1 | $45.0 | 0.1% |
| CertusBank | 3 | $35.9 | 0.1% |
| Reunion Bank | 1 | $27.9 | 0.1% |
| Merchants & South. | 1 | $23.3 | 0.1% |
| Citibank | 1 | $16.2 | 0.0% |
| Citizens State Bank | 1 | $10.7 | 0.0% |
| Woodforest Nat. | 3 | $0.8 | 0.0% |
| Southern Commerce | 1 | $0.5 | 0.0% |
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