There are a total of 139 banks currently operating in the state of Alabama that are also insured by the federal deposit insurance corporation. Of this amount, 103 of these banks are headquartered in the state and therefore can be considered Alabama-based banks. Banks operating within the state had in total $300 billion of assets, $256 billion of deposits and $172 billion of loans outstanding as of this writing. Overall and in aggregate residential mortgages made up 15% of the assets managed by banks in Alabama. Further, these banks also currently employ in total 35,111 people within the state, which represents 0.7% of the population.

Density of Banks in Alabama

There are a total of 1,426 bank branches located within the state of Alabama. This works out to a ratio of approximately 2.9 branches per 10,000 people in Alabama.  If we take the data on the banks in Alabama and compare it with the banks operating in other states, we find that on this metric, banks in Alabama rank 24th out of the 52 states and territories. This is ranked in order of most to least branches per capita.  Taking a different approach, let’s look at the physical density of branches within this state. When the total square mileage of a state is factored in, banks in Alabama had on average 2.8 branches per 100 square miles. Therefore, Alabama ranks 28th out of 52 states and territories in terms of the most branches per square mile.

Performance of Banks in Alabama

performance-of-banks-in-Alabama

  • Net Interest Margin – banks in the state of Alabama are on average below the average bank’s net interest margin in the United States. This is for FDIC-insured banks only. Overall, the net interest margin for banks in Alabama is ranked 45th out of the 52 states and main territories in the United States.
  • Return on Assets – in terms of this important return metric, banks in this state are on average lower than the national average. Altogether the Return on Assets for the banks in Alabama is ranked 47th out of the 52 states and main territories in the country.
  • Return on Equity – banks in this state on average have a lower return on equity than the national average. Overall, the Return on Equity for banks in Alabama is ranked 50th out of the 52 states and main territories in the country.
  • Loan to Deposit – this is an important metric to gauge the liquidity of a bank. Banks in this state are on average below the national average when it comes to loan to deposit. A lower loan to deposit ratio means the bank is more comfortably funding its loan activities using its deposit base. Overall, banks in Alabama are ranked 32nd out of the 52 states and main territories in the country when it comes to loan to deposits.
  • Nonperforming Assets – this metric gives us an idea of the quality of a bank’s assets and their performance. Banks in this state are on average worse than the national average when it comes to nonperforming assets. We’re specifically looking at the level of nonperformance among the asset base. A higher figure indicates lower quality. Overall, banks in Alabama are ranked 43rd out of the 52 states and main territories in the country when it comes to the percentage of their assets that are nonperforming.

5 Largest Banks in Alabama

deposit-market-share-of-banks-in-Alabama

Based on the latest available data, Regions Bank is the largest bank operating in Alabama based on its deposit share. Regions Bank currently has a 21% share of deposits within the state. Below is summary information on the top 5 largest banks in Alabama

Regions Bank

Regions Bank currently has the largest share of deposits within the state and has $30.3 billion of deposits. In addition to this the bank also has 190 offices within the state, which represents 14% of its total domestic offices.

Bbva USA

Bbva Usa currently has the second largest share of deposits within the state and has $21.2 billion of deposits. The bank also has 88 offices within the state, which represents 14% of its total domestic offices.

  • Main Office Address: 15 20th St. S Birmingham, AL 35233
  • Website: www.bbvausa.com

Wells Fargo Bank

Wells Fargo Bank currently has the third largest share of deposits within the state and has $10.9 billion of deposits. The bank also has 94 offices within the state, which represents 2% of its total domestic offices.

  • Main Office Address: 101 N. Phillips Ave. Sioux Falls, SD 57104
  • Website: www.wellsfargo.com

Servisfirst Bank

Servisfirst Bank currently has the fourth largest share of deposits within the state and has $8.3 billion of deposits. Further, the bank also has 12 offices within the state, which represents 55% of its total domestic offices.

Synovus Bank

Synovus Bank currently has the fifth largest share of deposits within the state and has $6.5 billion of deposits. In addition, the bank also has 34 offices within the state, which represents 12% of its total domestic offices.

  • Main Office Address: 1111 Bay Ave. Columbus, GA 31901
  • Website: www.synovus.com