I noticed an interesting trend while reviewing area bank deposits and market shares a story in Monday's paper.
Large banking chains lost deposits last year, while most locally controlled small banks saw their deposits grow.
There seems to be some backlash as a result of 2008's big bank bail out. Could consumers be associating national banking chains with the problems that got the economy into trouble in the first place?
They could be feeling their money is safer if they keep it closer to home.
Of the 18 banks in the Cape Girardeau/Jackson metropolitan statistical area, only 7 banks saw their in-market deposits grow from June 30, 3009 to June 30, 2010. They were: Montgomery Bank, Alliance Bank, First Midwest Bank, First State Community Bank, First Community Bank, Banterra Bank and Peoples Community Bank.
The bank with the biggest dip in deposits was Region's Bank, with its deposits declining 16 percent. Montgomery Bank saw the biggest jump in deposits, climbing 24 percent.
Click here to see which local banks gained or lost deposits during the past year. Look to the chart on the right side of the page.