22 n e w h a v e n B I Z
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n e w h a v e n b i z . c o m
T h e L i s t
Largest out-of-state banks in Connecticut
Ranked by Conn. deposits as of June 30, 2020
Largest out-of-state banks in Connecticut
(Ranked by Conn. deposits as of June 30, 2020)
Rank Bank
Conn. deposits (000)
2020/2019/2018
Market share
2020/2019/2018
Conn. offices/
Total US offices
Parent
company/
Headquarters
1
Bank of America
30 State House Square
Hartford, CT 06103
800-432-1000; www.bankofamerica.com
$40,429,756
$32,073,533
$32,042,513
24.82%
22.94%
23.64%
112
4,241
Bank of America Corp.
Charlotte, N.C
2
Wells Fargo Bank, NA
205 Church St.
New Haven, CT 06510
203-773-9037; www.wellsfargo.com
$9,088,286
$7,936,189
$8,349,780
5.58%
5.68%
6.16%
63
5,148
Wells Fargo & Co.
San Francisco, Calif.
3
TD Bank
2461 Main St.
Glastonbury, CT 06033
860-652-6507; www.tdbank.com
$8,009,374
$6,874,983
$6,677,841
4.92%
4.92%
4.93%
63
1,231
Toronto Dominion (TD) Bank
Toronto, Canada
4
JP Morgan Chase Bank
111 W. Putnam Ave.
Greenwich, CT 06830
203-861-7379; www.chase.com
$7,227,692
$5,822,228
$5,767,338
4.44%
4.16%
4.26%
51
5,000
JP Morgan Chase & Co.
New York, N.Y.
5
Citibank
475 Steamboat Road
Greenwich, CT 06830
203-863-5100; www.citibank.com
$6,071,000
$5,415,000
$5,605,000
3.73%
3.87%
4.14%
14
705
Citigroup Inc.
New York
6
KeyBank
195 Church St.
New Haven, CT 06510
203-789-2781; www.key.com
$4,816,217
$4,531,504
$4,307,262
2.96%
3.24%
3.18%
56
1,105
Key Corp.
Cleveland, Ohio
7
Citizens Bank
39 Church St.
New Haven, CT 06510
203-821-3080; www.citizensbank.com
$3,194,807
$2,952,841
$2,889,091
1.96%
2.11%
2.13%
33
1,018
Citizens Financial Group Inc.
Providence, R.I.
8
Santander Bank
1010 Farmington Ave.
West Hartford, CT 06107
860-570-3121; www.santanderbank.com
$2,003,314
$1,791,832
$1,599,202
1.23%
1.28%
1.18%
21
576
Banco Santander SA
Madrid, Spain
9
Berkshire Bank
927 Farmington Ave.
West Hartford, CT 06107
860-231-8148; www.berkshirebank.com
$1,460,423
$1,385,928
$294,026
0.90%
0.99%
0.22%
27
132
Berkshire Hills Bancorp Inc.
Massachusetts
10
Signature Bank
75 Holly Hill Lane
Greenwich, CT 06830
866-744-5463; www.signatureny.com
$974,742
$761,431
$357,966
0.60%
0.54%
0.26%
1
39
Signature Bank
New York
11
First Republic Bank
93 Mason St.
Greenwich, CT 06830
203-422-0818; www.firstrepublic.com
$649,535
$469,583
$515,580
0.40%
0.34%
0.38%
1
83
First Republic Bank
California
12
BNY Mellon
10 Mason St.
Greenwich, CT 06830
203-487-5758; www.bnymellon.com
$434,000
$334,000
$293,043
0.27%
0.24%
0.22%
2
33
The Bank of New York Mellon Corp.
New York
13
Centreville Bank (1)
40 Main St.
Putnam, CT 06260
860-928-6501; putnambank.com
$420,924
NA
NA
0.26%
NA
NA
8
19
Centreville Bank
West Warwick, RI
14
Northern Trust Co.
165 Mason St.
Greenwich, CT 06830
203-863-1400; www.northerntrust.com
$338,155
$272,324
$216,009
0.21%
0.19%
0.16%
1
62
Northern Trust Corp.
Illinois
15
Manufacturers & Traders Trust Co. (M&T Bank)
247 Federal Road
Brookfield, CT 06804
203-744-1200; www.mtb.com
$297,678
$309,954
$433,911
0.18%
0.22%
0.32%
9
782
M&T Bank Corp.
New York
16
bankHometown
182 Main St.
Putnam, CT 06260
860-753-4500; www.hometowncoop.com
$289,652
$225,866
$219,648
0.18%
0.16%
0.16%
5
16
Hometown Financial Group MHC
Massachusetts
17
PeoplesBank
30 Bridge St.
Suffield, CT 06078
860-668-3950; www.bankatpeoples.com
$278,102
$233,895
NA
0.17%
0.17%
NA
4
24
Peoplesbancorp MHC
Massachusetts
18
Westfield Bank
47 Palomba Drive
Enfield, CT 06082
860-265-3919; www.westfieldbank.com
$105,466
$80,203
$69,481
0.06%
0.06%
0.05%
4
27
Western New England Bancorp Inc.
Massachusetts
19
Washington Trust Co. of Westerly
14 Clara Drive
Mystic, CT 06355
860-572-2058; www.washtrust.com
$64,167
$63,481
$64,174
0.04%
0.05%
0.05%
2
25
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, 2020 report.
(1) Acquired Putnam Bank effective May 1, 2020.
—Compiled by Timothy Doyle.
Source: Each company's 2020 proxy report, Yahoo Finance. Note: CEO pay ratio and median employee compensation may not
be directly comparable because of differing methodologies allowed to determine median compensation.
(1) Compensation data for FY2020.
(2) Based on median US employee.—Compiled by Timothy Doyle
