80 banks currently operate in the state of Maryland. These are banks that are also insured by the federal deposit insurance corporation. Of the banks operating within the state, 36 are also headquartered in the state. Therefore, these 36 banks can be considered Maryland-based banks though they might operate nationally or internationally. Banks operating within the state had in total $54 billion of assets, $46 billion of deposits and $37 billion of loans outstanding as of this writing. Looking at the asset composition of banks in Maryland, residential mortgages made up 14% of the assets managed by these banks. In addition to this, these banks in total employ 5,517 people within the state. This represents 0.1% of the population.

Density of Banks in Maryland

There are a total of 1,347 bank branches located within the state of Maryland. This works out to a ratio of approximately 2.2 branches per 10,000 people in Maryland.  Comparing the banks in Maryland to banks operating in other states on this measure, Maryland ranks 38th out of 52 states and territories in terms of 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 Maryland had on average 13.9 branches per 100 square miles. Therefore, Maryland ranks 6th out of 52 states and territories in terms of the most branches per square mile.

Performance of Banks in Maryland

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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 Maryland is ranked 6th out of the 52 states and main territories in the country.
  • Return on Assets – in terms of this important return metric, banks in this state are on average higher than the national average. Altogether the Return on Assets for the banks in Maryland is ranked 10th out of the 52 states and main territories in the country.
  • Return on Equity – banks in the state of Maryland are on average generating a higher return on equity than the average bank in the United States. In total, the return on equity for banks in Maryland is ranked 18th out of the 52 states and main territories in the United States.
  • 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 Maryland are ranked 7th 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 Maryland are ranked 42nd 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 Maryland

deposit-market-share-of-banks-in-Maryland

As of this writing Bank of America is the largest bank operating in Maryland and this is based on its share of deposits within the state. Bank of America currently has a 23% share of the deposits within the state. Below is summary information on the top 5 largest banks in Maryland.

Bank of America

Bank of America currently has the largest share of deposits within the state and has $46.0 billion of deposits. In addition to this the bank also has 143 offices within the state, which represents 3% of its total domestic offices.

Main Office Address: 100 N Tryon St Charlotte, NC 28202

Website: www.bankofamerica.com

Manufacturers and Traders Trust Company

Manufacturers and Traders Trust Company currently has the second largest share of deposits within the state and has $27.3 billion of deposits. The bank also has 170 offices within the state, which represents 23% of its total domestic offices.

Main Office Address: 1 M &t Plz Buffalo, NY 14203

Website: http://www.mtb.com

Truist Bank

Truist Bank currently has the third largest share of deposits within the state and has $23.6 billion of deposits. The bank also has 208 offices within the state, which represents 8% of its total domestic offices.

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

Website: www.BBT.com

PNC Bank

PNC Bank currently has the fourth largest share of deposits within the state and has $19.0 billion of deposits. Further, the bank also has 173 offices within the state, which represents 8% of its total domestic offices.

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

Website: www.pnc.com

Capital One

Capital One currently has the fifth largest share of deposits within the state and has $15.8 billion of deposits. In addition, the bank also has 47 offices within the state, which represents 14% of its total domestic offices.

Main Office Address: 1680 Capital 1 Dr. Mclean, VA 22102

Website: www.capitalone.com