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BANKING & FINANCE 34 | BOOK OF LISTS 2020 LARGEST OUT-OF-STATE BANKS IN CONNECTICUT (Ranked by Conn. deposits as of June 30, 2019) Largest out-of-state banks in Connecticut (Ranked by Conn. deposits as of June 30, 2019) Rank Bank Conn. deposits 2019/2018/2017 (000) Market share 2019/2018/2017 Conn. offices/ Total offices Parent company/ Headquarters 1 Bank of America 185 Asylum St. Hartford, CT 06103 800-432-1000; www.bankofamerica.com $32,073,533 $32,042,513 $30,375,653 22.94% 23.64% 22.79% 119 4,514 Bank of America Corp. Charlotte, N.C 2 Wells Fargo Bank 205 Church St. New Haven, CT 06510 203-773-9037; www.wellsfargo.com $7,936,189 $8,349,780 $8,756,665 5.68% 6.16% 6.57% 69 5,533 Wells Fargo & Co. San Francisco, Calif. 3 TD Bank 2461 Main St. Glastonbury, CT 06033 860-652-6507; www.tdbank.com $6,874,983 $6,677,841 $6,936,523 4.92% 4.93% 5.20% 63 1,251 Toronto Dominion (TD) Bank Toronto, Canada 4 JP Morgan Chase Bank 111 W. Putnam Ave. Greenwich, CT 06830 203-861-7379; www.chase.com $5,822,228 $5,767,338 $5,894,986 4.16% 4.26% 4.42% 49 5,235 JP Morgan Chase & Co. New York, N.Y. 5 Citibank 399 Post Road West Westport, CT 06880 203-635-6763; www.citibank.com $5,415,000 $5,605,000 $6,299,000 3.87% 4.14% (1) 4.73% 14 997 Citigroup Inc. New York 6 KeyBank 195 Church St. New Haven, CT 06510 203-789-2781; www.key.com $4,531,504 $4,307,262 $4,219,978 3.24% 3.18% 3.17% 59 1,135 Key Corp. Cleveland, Ohio 7 Citizens Bank 470 Bank St. New London, CT 06320 860-444-6300; www.citizensbank.com $2,952,841 $2,889,091 $2,868,688 2.11% 2.13% 2.15% 36 1,105 Citizens Financial Group Inc. Providence, R.I. 8 Santander Bank 1010 Farmington Ave. West Hartford, CT 06107 860-570-3121; www.santanderbank.com $1,791,832 $1,599,202 $1,824,330 1.28% 1.18% 1.37% 24 589 Banco Santander SA Madrid, Spain 9 Berkshire Bank (2) 927 Farmington Ave. West Hartford, CT 06107 860-231-8148; www.berkshirebank.com $1,385,928 $294,026 $287,803 0.99% 0.22% 0.22% 27 135 Berkshire Hills Bancorp Inc. Massachusetts 10 Signature Bank 75 Holly Hill Lane Greenwich, CT 06830 866-744-5463; www.signatureny.com $761,431 $357,966 $387,893 0.54% 0.26% 0.29% 1 33 Signature Bank New York 11 First Republic Bank 93 Mason St. Greenwich, CT 06830 203-422-0818; www.firstrepublic.com $469,583 $515,580 $417,201 0.34% 0.38% 0.31% 1 82 First Republic Bank California 12 BNY Mellon 10 Mason St. Greenwich, CT 06830 203-487-5758; www.bnymellon.com $334,000 $293,043 $309,423 0.24% 0.22% 0.23% 1 37 The Bank of New York Mellon Corp. New York 13 Manufacturers & Traders Trust Co. (M&T Bank) 247 Federal Road Brookfield, CT 06804 203-744-1200; www.mtb.com $309,954 $433,911 $543,272 0.22% 0.32% 0.41% 9 806 M&T Bank Corp. New York 14 HSBC Bank USA 24 Elm St. Westport, CT 06880 800-975-4722; www.us.hsbc.com $307,260 $337,469 $299,346 0.22% 0.25% 0.22% 3 249 HSBC Holdings PLC London, United Kingdom 15 Northern Trust Co. 165 Mason St. Greenwich, CT 06830 203-863-1400; www.northerntrust.com $272,324 $216,009 $192,769 0.19% 0.16% 0.14% 1 65 Northern Trust Corp. Illinois 16 PeoplesBank (3) 30 Bridge St. Suffield, CT 06078 860-668-3950; www.bankatpeoples.com $233,895 NA NA 0.17% NA NA 4 23 Peoplesbancorp MHC Massachusetts 17 bankHometown 182 Main St. Putnam, CT 06260 860-753-4500; www.hometowncoop.com $225,866 $219,648 $208,022 0.16% 0.16% 0.16% 5 15 Hometown Financial Group MHC Massachusetts 18 Capitol One 45 S. Main St. Branford, CT 06405 203-481-3471; www.capitalone.com $153,696 $153,772 $146,171 0.11% 0.11% 0.11% 1 476 Capitol One Financial Corp. McLean, Va. 19 Westfield Bank 47 Palomba Drive Enfield, CT 06082 860-265-3919; www.westfieldbank.com $80,203 $69,481 $58,625 0.06% 0.05% 0.04% 2 (4) 24 Western New England Bancorp Inc. Massachusetts 20 Washington Trust Co. of Westerly 14 Clara Drive Mystic, CT 06355 860-572-2058; www.washtrust.com $63,481 $64,174 $59,496 0.05% 0.05% 0.04% 1 23 Washington Trust Bancorp Inc. Rhode Island Source: Federal Deposit Insurance Corp. website: www.fdic.gov. Notes: Listed address denotes branch with the highest deposits in Conn. per June 30, 2018 report. Limited-service offices which contributed zero deposits per June 30, 2018 report were not included in the number of Conn. offices. Note: New York-based NBT Bank announced in November 2019 that it will open its first office in Greater Hartford, date pending. (1) Figure has been revised since published in our 2018/2019 Book of Lists. (2) Acquired Willimantic-based Savings Inst. Bank and Trust Co. on May 17, 2019. (3) PeoplesBancorp MHC, parent company of PeoplesBank, both of Massachusetts, acquired The First National Bank of Suffield on Nov. 30, 2018. Branches of The First National Bank of Suffield conduct business under the trade name First Suffield Bank, a Division of PeoplesBank. (4) With 2 additional CT branches pending in Bloomfield and West Hartford. —Compiled by Heide Martin. Wells Fargo in 2019 named two new executives whose turfs include Connecticut: David Miree was named Wells Fargo's lead region president for Northeast community banking and Kevin Burke commercial banking market executive for Connecticut. JPMorgan Chase opened a number of new Connecticut branches in 2019, including its first in downtown Hartford at the corner of Trumbull and Pearl streets. KeyBank in July appointed James R. Barger to lead its Connecticut/ Massachusetts banking market. Berkshire Bank in May completed its $180-million acquisition of Windham's Savings Institute Bank & Trust Co. Westfield Bank, which entered the Connecticut market in 2013, in April announced plans to open two more Connecticut offices, including one in West Hartford. HOW THE TOP 5 FARED: Total deposits, Out-of-state banks (in 000s) % 2018 2019 change Bank of America $32,042,513 $32,073,533 0.1% Wells Fargo $8,349,780 $7,936,189 -4.95% TD Bank $6,677,841 $6,874,983 2.95% JP Morgan Chase Bank $5,767,338 $5,822,228 0.95% Citibank $5,605,000 $5,415,000 -3.39% Out-of-state banks with the most CT offices No. of offices Bank of America 119 Wells Fargo Bank 69 TD Bank 63 KeyBank 59 JP Morgan Chase Bank 49