PNC Bank, Citizens Bank, First National Bank and the rest of the Pittsburgh area’s biggest retail banks maintained their positions in the top 10 rankings this year, while all but one saw deposits grow, newly released figures from the Federal Deposit Insurance Corp. show.

At the same time, most of the top 10 continued to shutter branches, a reflection of the industry’s push toward virtual banking.

Pittsburgh-based PNC — which has long been the region’s market leader — continued its dominance with a 42.2% share of deposits, followed far behind by Rhode Island-based Citizens with 5.4%, Pittsburgh-based First National Bank of Pennsylvania with 3.8%, Pittsburgh-based Dollar Bank with 2.7% and Cleveland-based KeyBank with 2.2%.

Rounding out the top 10 were Huntington with 1.9% of deposits; First Commonwealth, 1.6%; S&T, 1.4%; NexTier, 0.69%; and WesBanco, 0.67%.

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The FDIC’s latest report —  based on deposit data as of June 30 — measures banks’ share of consumer and business wallets in the seven-county Pittsburgh region.

All of the banks except KeyBank reported higher deposits than the previous year.

A year ago, the FDIC report showed KeyBank had gained enough deposits to overtake Dollar Bank as the region’s No. 4 retail bank. But those figures were later revised to show that KeyBank remained at No. 5.

Banks occasionally submit changes that can cause revisions to the market share data, the FDIC said in an email Tuesday.

As of June, the top 10 banks operated 42 fewer branch offices in the region than in June of 2020, reducing the total to 538, according to the FDIC.

Six of the top 10 banks cut their number of branches, three banks (Dollar, S&T and NexTier) operated the same number as the year before, and just one bank (Huntington) added a branch.

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PNC shed 19 offices, the most of any bank. First Commonwealth lost eight, KeyBank shrunk by five, FNB and WesBanco dropped by four each, and Citizens lost three.

Citizens has the most branches in the region at 105, according to the report. PNC is second with 104, followed by FNB with 76.

The FDIC’s deposit market share and branch data report on all 50 financial institutions in the region is available at www.fdic.gov/bank/statistical/.

Patricia Sabatini: PSabatini@post-gazette.com; 412-263-3066.

First Published: October 6, 2021, 10:00 a.m.
Updated: October 6, 2021, 11:21 a.m.