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SLO Banks: Rabobank Increases Market Share

October 29,2014

Screen Shot 2014-10-30 at 11.18.54 AMDutch-owned Rabobank has increased its position with a number 1 market share of deposits in San Luis Obispo County says the FDIC.

In their annual market share report the FDIC reports Rabobank increased their percentage as the top bank in the county with a 26.73 percent market share.The data is from June 30,2014..That is up from 26.14 percent measured as of June 30, 2013. The bank added around $100 million to their deposits in the one-year time.The bank has 16 locations in the county compared to 13 for Heritage Oaks.

Now 2nd on the list is the newly merged Heritage Oaks Bank with a 17.99% market share, up from 10.99% in 2013.The locally owned bank merged in February with Mission Community Bancorp. The merged bank has increased deposits from $585,620,000 to over 1 billion dollars.

Formerly number 2 in deposits in the county – Wells Fargo (8 branches) dropped to number 3 as of  June 2014 with a 12.40% market share.That is down from 14.15% in June 2013. Bank of America is number 4 on the list with a 12.35% market share,down from 12.40% in 2103.They have 6 branches.

Chase (10 branches here) is number 5 at 11.84% – up from 11.58% in June 2013.

The FDIC reports all deposits in SLO county increased from $5.329 billion to $5.579 billion as of June 2014.

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