The state of North Carolina is home to 87 banks that are insured by the federal deposit insurance corporation and that operate within the state. Of this amount, 47 of these banks are headquartered in the state and therefore can be considered North Carolina-based banks. Banks operating within the state had in total $3,021 billion of assets, $2,543 billion of deposits and $1,274 billion of loans outstanding as of this writing. Looking at the asset composition of banks in North Carolina, residential mortgages made up 10% of the assets managed by these banks. In addition to this, these banks in total employ 198,304 people within the state. This represents 1.9% of the population.

Density of Banks in North Carolina

Banks in North Carolina currently have a total of 2,147 branches located within the state. This equates to 2.0 branches per 10,000 people in North Carolina.  Comparing the banks in North Carolina to banks operating in other states on this measure, North Carolina ranks 41st out of 52 states and territories in terms of branches per capita.  Another way to view this is by looking at the physical accessibility. On this basis, banks in North Carolina had on average 4.4 branches per 100 square miles. As a result, North Carolina ranks 17th out of 52 states and territories in terms of most branches per square mile.

Performance of Banks in North Carolina

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  • Net Interest Margin – banks in this state are on average below the national average on this metric. In total the net interest margin for the banks in North Carolina is ranked 49th out of the 52 states and main territories in the country.
  • Return on Assets – banks in the state of North Carolina are on average lower the average bank’s Return on Assets in the United States. Overall, the Return on Assets for banks in North Carolina is ranked 42nd out of the 52 states and main territories in the United States.
  • Return on Equity – banks in the state of North Carolina are on average generating a lower return on equity than the average bank in the United States. In total, the return on equity for banks in North Carolina is ranked 41st out of the 52 states and main territories in the United States.
  • Loan to Deposit – this is an important metric to gauge the liquidity of a bank. Banks in this state are on average above 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 North Carolina are ranked 49th out of the 52 states and main territories in the country when it comes to loan to deposits.
  • Nonperforming Assets – this metric is a good way to compare the quality of the assets of a bank as well as the performance of the assets. Banks operating in the state of North Carolina are on average better than the national average when it comes to nonperforming assets. The level of nonperformance is what is important as a higher figure indicates a lower quality or a lower performing asset base. In total, banks in North Carolina are ranked 13rd out of the 52 states and main territories in the country on this metric.

5 Largest Banks in the state of North Carolina

deposit-market-share-of-banks-in-North Carolina

Based on the latest available data, Bank of America is the largest bank operating in North Carolina based on its deposit share. Bank of America currently has a 41% share of deposits within the state. Below is summary information on the top 5 largest banks in North Carolina.

Bank of America

Bank of America currently has the largest share of deposits within the state and has $208.1 billion of deposits. In addition to this the bank also has 135 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

Truist Bank

Truist Bank currently has the second largest share of deposits within the state and has $92.6 billion of deposits. The bank also has 349 offices within the state, which represents 14% of its total domestic offices.

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

Website: www.BBT.com

Wells Fargo Bank

Wells Fargo Bank currently has the third largest share of deposits within the state and has $73.4 billion of deposits. The bank also has 261 offices within the state, which represents 5% of its total domestic offices.

Main Office Address: 101 N. Phillips Ave. Sioux Falls, SD 57104

Website: www.wellsfargo.com

First-Citizens Bank & Trust Company

First-Citizens Bank & Trust Company currently has the fourth largest share of deposits within the state and has $24.5 billion of deposits. Further, the bank also has 230 offices within the state, which represents 43% of its total domestic offices.

Main Office Address: 239 Fayetteville St Raleigh, NC 27601

Website: https://www.firstcitizens.com

Pacific Western Bank

Pacific Western Bank currently has the fifth largest share of deposits within the state and has $14.8 billion of deposits. In addition, the bank also has 1 office within the state, which represents 1% of its total domestic offices.

Main Office Address: 9701 Wilshire Blvd. Beverly Hills, CA 90212

Website: www.pacwest.com