In the money: Valley wealth on the rise, FDIC data shows


Maricopa County banks are holding more cash in fewer branches, according to new data from the Federal Deposit Insurance Corp.

The latest summary of deposits data from the FDIC shows that Phoenix-area banks have $98.3 billion on deposit across 60 institutions. That represents a 6.1 percent increase from the previous year.

All those deposits were scattered across 776 branches, down from 803 last year.

Subsidiaries of the nation's three biggest banks — JPMorgan Chase & Co., Wells Fargo & Co. and…

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