What Major Banks Are in South Carolina?


Quick Answer

All four of the major American banks, including Wells Fargo, JP Morgan Chase, Bank of America and Citigroup, operate locations in South Carolina. Furthermore, a number of locally run FDIC Insured financial institutions operate in South Carolina, including First Citizen Bank and the South State Bank.

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Full Answer

According to a 2012 study conducted by the Charleston Regional Business Journal, the largest bank in South Carolina is Wells Fargo, the smallest of the major four American banks. In South Carolina, Wells Fargo controls roughly 18% of the entire banking sector, which equated to more than $12 billion in deposits. The second largest bank, Bank of America, is also a part of the Big Four. Bank of America controls 13.5% of the market with more than $9 billion in deposits. BB&T, First Citizens Bank and TD Bank also made the list of top five banks in South Carolina.

The sixth largest bank in South Carolina, NBSC, is one of only two banks on the list of South Carolina's largest banks that is actually headquartered in South Carolina. In 2012, NBSC saw more than $2.7 billion in deposits, which represents just over 4% of the market. The other major bank headquartered in South Carolina is the SCBT, which at $2.6 billion in deposits also controls nearly 4% of the market.

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