Harris Bank and National City Bank have made the biggest percentage gains in deposits from Evanston residents over the past half decade, but Chase Bank and First Bank & Trust continue to have the largest share of local deposits.

An Evanston Chamber of Commerce analysis of data from the Federal Deposit Insurance corporation shows that locally-owned First Bank & Trust, established in 1995, has 26 percent of the market, up from 21 percent in 2005.

Chase Bank, which entered the Evanston market when it bought Bank One a few years ago and has since acquired Washington Mutual, remains in first place with a 39 percent share, but that’s down from a 42 percent share in 2005.

Third in the market is Citibank with a 10 percent share, up from 9 percent in 2005.

Charter One, which acquired Great Bank, has lost nearly half of its market share falling from 13 percent in 2005 to 7 percent last year, and ranks fourth.

Fifth is Bank of America, which acquired LaSalle Bank. It has increased its share fractionally to 6 percent.

Harris, which entered the Evanston market in 2004, now ranks sixth with a 4 percent market share, up from 1 percent in 2005.

National City, which was recently acquired by PNC Financial Services Group of Pittsburgh, has seen its market share grow from 0.22 percent in 2005 to 2.26 percent last year to rank seventh.

Wells Fargo, which acquired Wachovia, has dropped from a 3.9 percent share of the market to 2.2 percent to rank eighth.

And Fifth Third, which entered the market in 2004, has increased its market share fractionally to 1.36 percent to rank ninth.

Chamber President Steve Hagerty, who heads a management consulting firm, noted that two of the banks that have gained market share in Evanston — First Bank & Trust and Harris Bank — have been active participants in the chamber.

“The data makes clear that banks that have engaged their management teams and employees in chamber activities and programs have reaped financial benefits in the competitive Evanston marketplace,” Hagerty said. 

Overall the FDIC data shows Evanston banks had  deposits totaling $1.58 billion in 2010, down from $1.62 billion in 2009, as the recession continued to impact the local economy.

Bill Smith is the editor and publisher of Evanston Now.

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