In Augusta Wachovia (NYSE:WB-S ) still leads the way as the bank that holds the most money; however the market share it holds has eroded over the last year from 24.5 percent to 21.9 percent according to the annual FDIC report.
Its deposit amount has also gone down from $1.62 billion to $1.54 billion, in the metro area. 17 of the market’s 20 banking organizations went up in deposits. Bank of America (NYSE:BAC) along with Southern Bank (SBFC) was the other two banks to fall. Southern only went down by $70,000 and Bank of America by $3 million.
FDIC does its market share reports, by comparing the banks based on their data at the end of June. $7.05 billion is deposited in the banks. A year ago there was $6.6 billion deposited.
So it seems that people have started to take their money from under the mattress and started to believe in the banking system again.
Wachovia Online Banking
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