Webster Bank added more deposits than any other bank in Connecticut, according to recently released data on statewide deposit share at the end of the second quarter of this year.
Webster increased deposits more than $1.2 billion to a total of $17.7 billion, bringing its market share up more than half a percentage point and separating itself from People’s United Bank, which was just behind it at the end of the second quarter of 2016.
Bank of America, which has the largest deposit share by far in Connecticut with $30.3 billion in deposits, increased deposits, but lost market share. It controlled 23.3 percent of the market in 2016 and at the end of the second quarter of this year, it had about 22.8 percent.
Key Bank, with its acquisition of First Niagara last year and its 65 branches in Connecticut, jumped into the fray for the first time and is eighth in deposit market share with 3.17 percent.
On the community bank front, United Bank overtook Liberty Bank, growing deposits $570 million and increasing its market share to 2.76 percent.
In addition to BofA, other large banks including Wells Fargo, TD Bank and Citibank all lost market share year-over-year.
Total deposits in the state grew from $129.2 billion at the end of the second quarter of 2016 to $133.2 billion at the end of the second quarter of this year.






