JPM · News · 20260922N

Columbus Deposit Competition

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

Online-only Erebor Bank accumulated $4 billion in deposits within three months of launch, making it a significant new competitor in the Columbus consumer-deposit market. Chase and Huntington remain among the market leaders, while Erebor entered the market’s top 10. The rapid deposit accumulation highlights competitive pressure from digitally native banks in U.S. retail banking. The report did not quantify any deposit loss or financial impact for Chase.

Key facts

• Erebor Bank grew to $4 billion in deposits within three months and secured a spot in the top 10 of the Columbus consumer deposit banking market, challenging incumbents including Chase. source
• In the Columbus consumer deposit banking market, Huntington and Chase continue to dominate. source