Farmers, Premier Rank Among Top 10 Northeastern Ohio Banks

YOUNGSTOWN, Ohio – Farmers National Bank and Premier Bank ranked ninth and 10th, respectively, among banks in northeastern Ohio at the end of the second quarter of 2024.

According to market share numbers released by the Federal Deposit Insurance Corp., as of June 30, Canfield-based Farmers had a 1.83% market share in northeastern Ohio, with $3.18 billion in deposits and 39 branches. It has lost one branch.

Premier Bank had a 1.52% market share, with $2.65 billion in deposits and 27 branches, also down a branch.

Also in the top 10 were several other banks with locations in the Mahoning Valley.

Cleveland-based KeyBank ranked first with a 35.6% market share, with $62.14 billion in deposits and 95 branches. KeyBank ranked third overall in the state behind U.S. Bank and Huntington Bank.

Huntington Bank, headquartered in Columbus, ranked second in northeastern Ohio with a 16.71% market share, with $29.16 billion in deposits and 153 branches, down six.

PNC Bank, based in Pittsburgh, Pa., ranked third with a 9.6% market share, with $16.7 billion in deposits and 82 branches, down two. PNC ranked sixth in Ohio.

JPMorgan Chase Bank ranked fourth with a 6.61% market share, with $11.54 billion in deposits and 83 branches, down three. Chase ranked fifth in the state.

Citizens Bank ranked fifth with a 5.16% market share, with $9 billion in deposits and 65 branches, down six.

U.S Bank ranked eighth with a 2.17% market share, with $3.78 billion in deposits and 50 branches, down four.

Rounding out the top 10 were Third Federal Savings and Loan, ranked sixth, and Fifth Third Bank, ranked seventh.

The FDIC reports the state had 129 commercial banks, and 97 had assets of less than $1 billion at the end of the second quarter. Total deposits were about $537.36 billion across the state.

Published by The Business Journal, Youngstown, Ohio.