What Are Some Common Banks in Florida?

What Are Some Common Banks in Florida?

Common banks in Florida include Wells Fargo, Bank of America and SunTrust. As of November 2015, Wells Fargo has 646 locations in Florida, Bank of America has 585 and SunTrust has 500, according to USBankLocations.com.

There are more than 200 banks with locations in Florida, 132 of which have less than five total branches. Wells Fargo is the banking leader in the state in both the number of locations and the amount in deposits, at over $31 billion, as of October 2014. Out-of-state banks dominate; only one of the top 10 most-common banks is based in Florida, which is BankUnited.

Wells Fargo, based in San Francisco, has over 6,000 locations in the United States. In October 2008, Wells Fargo acquired Wachovia Bank and grew its total deposits from less than $300 billion in 2008 to more than $1 trillion in 2015, making it third in the nation for deposits.

Bank of America, with over 5,000 branches, is headquartered in Charlotte, South Carolina, and is the nation's leader in deposits, with $1.17 trillion. The bank's presence has decreased by more than 18 percent since 2009, possibly due to legal expenses incurred by the company during the financial crisis.

SunTrust is the third most-common bank in Florida and the eighth most-common in the United States, with around 1,500 locations. Its $136.9 billion in deposits make the bank, which is based in Atlanta, rank 11th nationally in deposits.