JPM · News · 20260922N

Competition and Market Share

JPMORGAN CHASE & CO · 2026-09-22 · Importance 20 · Surprise 24

Erebor Bank, an online-only startup founded by Palmer Luckey, reached $4 billion in deposits within three months of launch. The rapid deposit accumulation placed Erebor among the top 10 consumer deposit banks in the Columbus market. Huntington and Chase remain dominant market leaders, but Erebor represents a new entrant gaining measurable share in the local consumer banking market.