5:45 am October 20, 2009, by Henry Unger
The French were right — the more things change, the more they stay the same.
After one of the most tumultuous years in banking history, a familiar name remains atop a list of the largest banks in the metro Atlanta: SunTrust.
AJC reporter Paul Donsky writes that the Atlanta-based bank held more than 23 percent of the metro area’s bank deposits, according to a new report from the Federal Deposit Insurance Corp.
The No. 2 lender by deposits was Wachovia, with a 19 percent share. That’s roughly the same as last year, though the gap between the bank and SunTrust has shrunk from seven percentage points to four.
Donsky reports that SunTrust officials said the decline in market share reflects the bank’s effort to reduce the amount of wholesale “brokered” deposits, which are more expensive and volatile than checking accounts and other kinds of “core” customer deposits.
Rounding out the metro area’s top five were Bank of America, BB&T and Bank of North Georgia.
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