New York's 10 Most Important Bankshttp://www.fool.com/investing/general/2013/05/21/new-yorks-10-most-important-banks-2.aspx Rich Smith
May 21, 2013
How big is "too big to fail"? In the great state of New York, it's pretty darn big.
In fact, in some places "2B2F" is pretty darn near to "too big to compete with."
Meet your banker -- whether you like it or not
See that big green line of billion-dollar bills down there at the bottom? That's JPMorgan Chase's (NYSE: JPM) deposit base -- and it's bigger than the next seven banks above it, combined -- including fellow 2B2Fers Citigroup (NYSE: C) and Bank of America (NYSE: BAC).
According to the FDIC's figures, JPMorgan boasts a 36.9% market share in the state of New York. That's more than four times the share of the state's No. 2 bank, Bank of New York Mellon (NYSE: BK).
An important thing to remember
On the other hand, I'm not so sure that the banks' great size will always be a good thing for their investors.
Think about it. Having great size, and benefiting from the "network effect" among its customers, banks like JPMorgan look like good, safe, defensive investments. Absent a major self-inflicted wound, it should be very hard to unseat them from their dominant positions.
On the other hand, once you've attained 37% marke