Springfield MSA banks grow deposits

Banks in the Springfield metropolitan statistical area reported a gain in total deposits held, according to data released today by the Federal Deposit Insurance Corp.

The 36 institutions in the five-county area had combined deposits of $14.6 billion as of June 30, a roughly 10% increase from the same time a year earlier, according to the FDIC's latest report that summarizes deposits held in the market.

The Top 10 banks in the market held the vast majority of the total deposits, at $9.9 billion. The banks in the Top 10 increased their holdings by approximately 1% from a year earlier.

Great Southern Bank remained the market leader, with nearly $2 billion in MSA deposits, or 13.5% of the market share. No. 2 Commerce Bank and No. 3 Central Bank of the Ozarks also maintained their spots. Commerce had $1.6 billion in deposits, or 11% of the market share, and Central Bank reported $1.57 billion, or 10.8%.

Changes in the Top 10 were OakStar Bank, which moved to No. 4 from No. 5 last year;, and No. 8 The Bank of Missouri, which moved up 10 spots from 2020. Simmons Bank, which ranked No. 9 last year, fell off of the Top 10 this year to land at No. 12.

Below are the Top 10 ranking deposit leaders in the local MSA, by deposits, market share and 2020 rank:

1. Great Southern Bank, $2 billion, 13.5%, No. 1

2. Commerce Bank, $1.6 billion, 11%, No. 2

3. Central Bank of the Ozarks, $1.57 billion, 10.8%, No. 3

4. OakStar Bank, $1 billion, 7.1%, No. 5

5. Guaranty Bank, $793.1 million, 5.4%, No. 4

6. Bank of America, $743.5 million, 5.1%, No. 6

7. Springfield First Community Bank, $608.7 million, 4.2%, No. 7

8. The Bank of Missouri, $573.2 million, 3.9%, No. 18

9. U.S. Bank, $535.5 million, 3.7%, No. 8

10. Old Missouri Bank, $494.7 million, 3.4%, No. 10