CLARKSVILLE, Tenn. (CLARKSVILLENOW) — During a 12-month period when Montgomery County’s total bank deposits jumped by $175.8 million, F&M Bank remained in the top position among FDIC-insured banks with a 19.01% market share.
It is the 14th consecutive year that F&M has maintained its market-leading ranking.
The fact that seven of the 11 Montgomery County banks have 10% or more of deposit market share underscores the extraordinary competitiveness within the market.
The updated market share reports – recently posted on the FDIC website – are based on federally insured deposits of banks and thrifts through June 30, 2017.
Founded in Bumpus Mills in 1906, F&M Bank also retained its number one market share position in Stewart County with 49.72% of deposits. In Robertson County, F&M is in second position with 16.6% market share, behind The Farmer’s Bank’s 25.6%.
The following are June 30, 2017, FDIC deposit market share highlights from counties where F&M Bank has at least one office:
Montgomery County:
• Total county deposits grew almost $176 million, which more than doubled the previous 12 month’s growth ($81 million) to reach combined county-wide bank deposits of $2.52 billion.
• Other Montgomery County banks with greater than 10% of market share include: First Advantage Bank with $342.5 million (13.62%), Planters Bank with $300.2 million (11.94%), Bank of America with $285.4 million (11.35%), Legends Bank with $285.3 million (11.34%), U.S. Bank with $269.0 million (10.69%) and Regions Bank with $255.7 million (10.16%).
Stewart County:
• F&M Bank’s deposits of $81.3 million are almost half of county-wide deposits of $163.4 million.
• Other Stewart County banks are: Regions Bank with $63.1 million (38.6%) and Legends Bank with $19.1 million (11.67%).
Robertson County:
• Total county bank deposits are $862.0 million, a robust uptick of $43.1 million over the previous year. F&M increased to $143.1 million in county deposits.
• Other Robertson County banks with double-digit market share include: The Farmer’s Bank with $220.7 million (25.6%), Regions Bank with $126.0 million (14.62%) and Reliant Bank with $99.1 million (11.5%).
F&M Bank also has banking offices in Cookeville, Hendersonville, Lebanon, Murfreesboro, Mt. Juliet, and White House, which collectively had net deposit increases of $14.2 million over the past 12 months.
F&M Bank has 15 full-service banking offices in seven Middle Tennessee counties. As of June 30, F&M reported $883.5 million in deposits, ranking 16th among all Tennessee-headquartered banks. F&M reported assets of $997.0 million.
In addition to its full-service banking offices, F&M operates mortgage-only offices in Davidson (Green Hills) and Williamson (Brentwood) counties.
For further information, contact Fred Landiss, Sr. Vice President of Marketing at fred.landiss@myfmbank.com or 931-553-2029.