Here at the Fool, we preach long-term investing in the very best companies and brands. It doesn't matter if the business is a manufacturer, distributor, retailer, or even a megabank.
The hard part for many investors is knowing where to start. How do you know if Bank of America (NYSE: BAC ) , JPMorgan Chase (NYSE: JPM ) , or Wells Fargo (NYSE: WFC ) is the best bank for your portfolio? Throw in regional banks such as BB&T (NYSE: BBT ) or a custodial bank such as Bank of New York Mellon (NYSE: BK ) , and the number of choices can be downright overwhelming.
In the following video and instruction guide, Motley Fool contributor Jay Jenkins presents one tool he uses to seed ideas for his bank investments. To him, the search starts locally and is confirmed by market share.
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How to generate a report for your city
Step 1: Follow this link to the FDIC's Summary of Deposit's report page.
Step 2: Beside "Report," select "Metropolitian Statistical Area (MSA)."
Step 3: Select your local city or area.
Step 4: Click "Continue."
Step 5: Voila! The FDIC will present an easy-to-read table with market share data for the area you selected.