185 banks currently operate in the state of Ohio. These are banks that are also insured by the federal deposit insurance corporation. Of the banks operating within the state, 178 are also headquartered in the state. Therefore, these 178 banks can be considered Ohio-based banks though they might operate nationally or internationally. Banks operating within the state had in total $4,541 billion of assets, $3,528 billion of deposits and $1,767 billion of loans outstanding as of this writing. Banks in Ohio state currently employ a total of 345,648 people within the state. This amounts to 3.0% of the overall population of the state. In addition, residential mortgages made up 10% of the assets managed by banks operating within the state.

Density of Banks in Ohio

There are a total of 3,278 bank branches located within the state of Ohio. This works out to a ratio of approximately 2.8 branches per 10,000 people in Ohio.  If we take the data on the banks in Ohio and compare it with the banks operating in other states, we find that on this metric, banks in Ohio rank 28th out of the 52 states and territories. This is ranked in order of most to least branches per capita.  Another way to view this is by looking at the physical accessibility. On this basis, banks in Ohio had on average 8.0 branches per 100 square miles. As a result, Ohio ranks 12nd out of 52 states and territories in terms of most branches per square mile.

Performance of Banks in Ohio

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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 Ohio is ranked 50th 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 Ohio is ranked 27th out of the 52 states and main territories in the country.
  • Return on Equity – banks in the state of Ohio 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 Ohio is ranked 12nd 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 Ohio are ranked 48th 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 Ohio are ranked 19th 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 Ohio

deposit-market-share-of-banks-in-Ohio

Based on the latest available data, U.S. Bank  is the largest bank operating in Ohio based on its deposit share. U.S. Bank  currently has a 17% share of deposits within the state. Below is summary information on the top 5 largest banks in Ohio.

U.S. Bank 

U.S. Bank  currently has the largest share of deposits within the state and has $81.1 billion of deposits. In addition to this the bank also has 202 offices within the state, which represents 9% of its total domestic offices.

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

Website: www.usbank.com

The Huntington National Bank

The Huntington National Bank currently has the second largest share of deposits within the state and has $74.7 billion of deposits. The bank also has 421 offices within the state, which represents 33% of its total domestic offices.

Main Office Address: 17 S High St Columbus, OH 43215

Website: www.huntington.com

Fifth Third Bank

Fifth Third Bank currently has the third largest share of deposits within the state and has $69.1 billion of deposits. The bank also has 286 offices within the state, which represents 26% of its total domestic offices.

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

Website: https://www.53.com

JPMorgan Chase Bank

JPMorgan Chase Bank currently has the fourth largest share of deposits within the state and has $46.6 billion of deposits. Further, the bank also has 246 offices within the state, which represents 5% of its total domestic offices.

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

Website: www.jpmorganchase.com

PNC Bank

PNC Bank currently has the fifth largest share of deposits within the state and has $41.0 billion of deposits. In addition, the bank also has 260 offices within the state, which represents 12% of its total domestic offices.

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

Website: www.pnc.com