There are a total of 161 banks currently operating in the state of Kentucky that are also insured by the federal deposit insurance corporation. Of the banks operating within the state, 128 are also headquartered in the state. Therefore, these 128 banks can be considered Kentucky-based banks though they might operate nationally or internationally. Banks operating within the state had in total $72 billion of assets, $61 billion of deposits and $44 billion of loans outstanding as of this writing. Overall and in aggregate residential mortgages made up 19% of the assets managed by banks in Kentucky. Further, these banks also currently employ in total 12,676 people within the state, which represents 0.3% of the population.

Density of Banks in Kentucky

Banks in Kentucky currently have a total of 1,541 branches located within the state. This equates to 3.4 branches per 10,000 people in Kentucky.  If we take the data on the banks in Kentucky and compare it with the banks operating in other states, we find that on this metric, banks in Kentucky rank 12nd 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 Kentucky had on average 3.9 branches per 100 square miles. Therefore, Kentucky ranks 21st out of 52 states and territories in terms of the most branches per square mile.

Performance of Banks in Kentucky

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  • Net Interest Margin – banks in this state are on average above the national average on this metric. In total the net interest margin for the banks in Kentucky is ranked 11st out of the 52 states and main territories in the country.
  • Return on Assets – banks in the state of Kentucky are on average higher the average bank’s Return on Assets in the United States. Overall, the Return on Assets for banks in Kentucky is ranked 26th out of the 52 states and main territories in the United States.
  • 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 Kentucky is ranked 29th out of the 52 states and main territories in the country.
  • Loan to Deposit – Banks in this state are on average below the national average when it comes to loan to deposit. Loan to deposit ratio is a good way to assess the liquidity of a bank. Lower is better as it means that a bank is funding more of its lending activities with its deposit base. Banks in Kentucky are ranked 24th 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 better 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 Kentucky are ranked 28th 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 the state of Kentucky

deposit-market-share-of-banks-in-Kentucky

Based on the latest available data, PNC Bank is the largest bank operating in Kentucky based on its deposit share. PNC Bank currently has a 10% share of deposits within the state. Below is summary information on the top 5 largest banks in Kentucky.

PNC Bank

PNC Bank currently has the largest share of deposits within the state and has $10.9 billion of deposits. In addition to this the bank also has 76 offices within the state, which represents 4% of its total domestic offices.

Main Office Address: 222 Delaware Ave. Wilmington, DE 19899

Website: www.pnc.com

JPMorgan Chase Bank

JPMorgan Chase Bank currently has the second largest share of deposits within the state and has $9.9 billion of deposits. The bank also has 48 offices within the state, which represents 1% of its total domestic offices.

Main Office Address: 1111 Polaris Pkwy. Columbus, OH 43240

Website: www.jpmorganchase.com

Fifth Third Bank

Fifth Third Bank currently has the third largest share of deposits within the state and has $8.4 billion of deposits. The bank also has 79 offices within the state, which represents 7% of its total domestic offices.

Main Office Address: 38 Fountain Sq. Plaza Cincinnati, OH 45263

Website: https://www.53.com

Truist Bank

Truist Bank currently has the fourth largest share of deposits within the state and has $7.0 billion of deposits. Further, the bank also has 73 offices within the state, which represents 3% of its total domestic offices.

Main Office Address: 214 N Tryon St Charlotte, NC 28202

Website: www.BBT.com

U.S. Bank

U.S. Bank  currently has the fifth largest share of deposits within the state and has $5.7 billion of deposits. In addition, the bank also has 97 offices within the state, which represents 4% of its total domestic offices.

Main Office Address: 425 Walnut St. Cincinnati, OH 45202

Website: www.usbank.com