RankingBanking 26 Digital - Flipbook - Page 18
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The Tortoise and
the Hare: Which
Regions Dominate
RankingBanking?
By Jackie Stewart
T
he United States is seen as
tunities. If you’re not, you have to be a bit more
the Land of Opportunity — and
strategic about where you’re focusing.”
this holds true for the financial
services system.
As part of this year’s annual RankingBanking
study, Bank Director broke down its list of the
This country has a unique and
300 largest publicly traded banks by states and
vibrant financial services market
regions. The listing by state can be found on Bank-
with more than 4,000 banks
Director.com.
spread out over 50 states and
The following examines how regional economies
territories that cover more than 3.5 million square
affect banks’ ability not only to survive but to
miles. These banks aim to serve the country’s
thrive. The four regions selected were the North-
more than 340 million people. Overall, the U.S.
east, the Midwest, the South and the West, plus
is the third largest country by land area and the
the banks based in U.S. territories. The key data
third most populous country in the world.
points for each region are based on information
Given this diverse landscape and population,
from the Federal Deposit Insurance Corp. and the
there are wide ranging opportunities for banks.
RankingBanking list. RankingBanking was calcu-
This means that the region where a bank is
lated by Piper Piper & Co. using data from S&P
located can influence its overall fortunes. “I think
the key is knowing where your opportunities lie,”
Global Market Intelligence.
“I don’t think [geography] always decides your
says Patrick Vernon, an advisory partner at Crowe
destiny, but certainly it can follow the trends,”
Advisory, a professional services firm. “If you’re in
adds Kara Baldwin, a partner and the financial
a high-growth area or in a city that’s experiencing
services audit lead at Crowe.
high growth, it’s a bit easier to fall into oppor-
