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.
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.
Fool contributor Jay Jenkins has no position in any stocks mentioned. The Motley Fool recommends Bank of America and Wells Fargo and owns shares of Bank of America, JPMorgan Chase, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.