Citibank passed Bank of America in deposits.

New York’s Citibank is now the nation’s biggest bank in terms of deposits, taking the top spot from San Francisco-based B of A, according to year-end figures compiled by the American Banker newspaper. B of A had held the top spot for 40 years. Citibank had $94.4 billion in domestic and foreign deposits, compared to B of A’s $88.2 billion as of Dec. 31. Citibank’s parent firm, Citicorp, has been the nation’s largest bank holding company since 1981, when it surpassed BankAmerica Corp. in total assets.