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U.S. Bank ranks third in Colorado deposits, passing JPMorgan Chase


In the back-and-forth battle for depositors in Colorado, U.S. Bank overtook JPMorgan Chase for third-best on a list perennially topped by Wells Fargo Bank, according to a federal survey.


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Print   Email   Font ResizeBusinessU.SBank ranks third in Colorado deposits, passing JPMorgan ChaseBy David MigoyaThe Denver PostPosted:   10/09/2012 12:01:00 AM MDTUpdated:   10/09/2012 01:41:11 AM MDT var requestedWidth = 0; if(requestedWidth > 0){ document.getElementById('articleViewerGroup').style.width = requestedWidth + "px"; document.getElementById('articleViewerGroup').style.margin = "0px 0px 10px 10px"; } In the back-and-forth battle for depositors in Colorado, U.SBank overtook JPMorgan Chase for third-best on a list perennially topped by Wells Fargo Bank, according to a federal survey.Though Wells' market share slipped to just under 25 percent, it still held the lion's share of deposits in the state — $24.7 billion as of June 30 — more than double the amounts held by FirstBank branches, the Federal Deposit Insurance Corpanalysis released last week shows.Coloradans continued to head toward banks, increasing deposits by about four percent from last year and 16 percent from 2009.The real battle is for third place, between U.SBank and ChaseNo bank below them holds more than a 3.6 percent share.U.SBank overtook Chase, registering a 9.7 percent market share in Colorado — 12.5 in Denver alone — a significant uptick from the 8.6 percent it held last year.That translates to almost $9.7 billion in deposits held as of June 30, compared to the $8.3 billion it had at the same point last year."We saw big increases in commercial banking, retail, community banking and commercial real estate," U.SBank spokeswoman Nicole Garrison-Sprenger said from headquarters in Minneapolis"Customers are choosing to bank with us because we are strong and growing."Chase added two locations last year to bring it to 121 statewide, and its deposits increased to about $9.1 billion from $8.9 billion.Advertisement

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