CHARLOTTE — Bank deposits booked to branches in the Charlotte-Concord-Gastonia market fell by $44.6 billion in the year ended June 30, while Wells Fargo’s local total dropped 26.6%.
NC Business Desk reproduced the results from the Federal Deposit Insurance Corp.’s 2025 and 2026 Summary of Deposits records. Deposits reported at the market’s branches declined from $477.25 billion to $432.69 billion, a 9.3% decrease.
Bank of America remained the market leader even as its branch-booked deposits fell 8.9%, from $320.72 billion to $292.11 billion. Truist remained second, declining 9.3% from $89.86 billion to $81.46 billion.
Wells Fargo stayed third but recorded the steepest percentage decline among the five largest institutions. Its total fell from $34.93 billion to $25.64 billion, a decrease of $9.28 billion. The bank had 66 Charlotte-market offices in the 2026 data, down from 68 a year earlier.
Fifth Third remained fourth with $5.66 billion, down 0.3%. First Citizens remained fifth and increased 3.1% to $4.62 billion. The market’s overall branch count rose to 513 from 502 even as deposits declined.
Charlotte Business Journal independently reported Sept. 21 that the five largest banks kept their rankings, the market contracted by nearly $45 billion and Wells Fargo’s local deposits fell 27%.
The figures measure deposits assigned to branches, not necessarily deposits held by Charlotte-area residents. Large corporate balances, internal allocation methods and changes in how institutions book deposits can move the totals. The FDIC data do not identify how much of the decline reflects customer withdrawals, accounting changes or transfers among offices.
For Charlotte’s banking sector, the annual data still provide a material competitive signal: the local deposit base contracted even as the number of offices increased, and Wells Fargo lost more than a quarter of its reported local total while retaining its No. 3 position.
Image: Wells Fargo Tower in Charlotte, photographed in 2012 by Prasit Frazee via Wikimedia Commons under CC BY-SA 3.0. The image was cropped and the standard NC Business Desk footer was added; no generative content.