Even the Bank Of America branch on 71st and Continental is nice looking inside. Problem is, its the worst bank to use if you store alot of money.

Chase is a better bank with more branches in the NYC marketplace. Citibank has the most high end depositors of any bank. Commerce/TDBankNorth is climbing marketshare and is known for good customer service. And ridgewood is good for those when they have their promo CD’s at times as its a 1 branch local bank. HSBC is also a decent bank for online depositors who also use the ATMs.

Bank Of America wont get significant deposits in that area. I wonder why they decided to plunk down funds in that section. With Jamaica, Queens there was a redevelopment of the area occuring and so it made sense as they were low on banks. They previously had HSBC and North Fork. Then Sterling came in, and now you have Bank of America AND Washington Mutual for a total of 5 banks instead of the previous 2.

Institution Name CERT State
(Hqtrd) Bank
Class State/
Federal
Charter No. of
Offices Deposits
($000) No. of
Offices Deposits
($000) Market
Share
JPMORGAN CHASE BANK NA 628 OH N Federal 3,103 439,390,998 5 605,002 18.88%
HSBC BANK USA NATIONAL ASSN 57890 DE N Federal 452 74,875,634 3 466,437 14.56%
CITIBANK NATIONAL ASSN 7213 NV N Federal 1,035 209,866,549 1 422,451 13.19%
RIDGEWOOD SAVINGS BANK 16026 NY SB State 24 2,422,376 1 225,622 7.04%
COMMERCE BANK NATIONAL ASSN 21140 PA N Federal 396 39,911,473 2 215,115 6.71%
NEW YORK COMMUNITY BANK 16022 NY SB State 160 12,028,910 2 193,043 6.03%
NORTH FORK BANK 15985 NY NM State 355 37,870,618 1 188,866 5.89%
ASTORIA FS&LA 29805 NY SA Federal 85 13,488,246 1 153,209 4.78%
STERLING NATIONAL BANK 7220 NY N Federal 11 1,449,151 1 117,517 3.67%
EMIGRANT SB BROOKLYN QUEENS 58169 NY SB State 6 608,183 1 102,700 3.21%
MASPETH FS&LA 30303 NY SA Federal 5 815,045 1 101,749 3.18%
WASHINGTON MUTUAL BANK 32633 NV SA Federal 2,178 202,604,990 2 101,316 3.16%
MANUFACTURERS&TRADERS TR CO 588 NY SM State 672 32,724,029 1 87,109 2.72%
APPLE BANK FOR SAVINGS 16068 NY SB State 49 5,838,215 2 86,819 2.71%
FLUSHING SAVINGS BANK FSB 16049 NY SA Federal 13 1,964,893 1 42,763 1.33%
SOVEREIGN BANK 29950 PA SA Federal 744 49,095,174 1 39,524 1.23%
FIRST AMERICAN INTL BANK 35186 NY NM State 8 367,333 1 31,315 0.98%
BANK OF AMERICA NA 3510 NC N Federal 5,727 596,561,467 1 23,432 0.73%

Number of Institutions in the Market: 18 TOTALS 15,023 1,721,883,284 28 3,203,989 100.00

Bank Of America is DEAD last in Forest Hills marketshare and rightfully so. They are opening another branch to increase share of market as they have 1 branch with 0.73% marketshare.

Commerce has climbed steadily in Forest Hills in marketshare which is under investigation right now by the SEC. Will be interesting to see what happens when the TD BankNorth merger is finalized.

Citibank has the highest amount of deposits per person basis yet has only 1 branch in town.

That First Central Saving Bank on Austin street offers nothing and hasnt come out yet.