Allegan County, Michigan, a core county of the Grand Rapids-Wyoming, MI market, holds $1.4B in deposits across 6 insured institutions and 17 branches. The Huntington National Bank is the largest deposit holder at 27.8% share. The top three institutions hold 73.1% of deposits, which places the county in the concentrated band. Deposits have grown 15.4% since 2020 while the branch count fell by 4. It produces $5.1B of output, ranking #588 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 21 in 2020 to 17 in 2025. Institutions: 7 to 6. Top-three share: 66.7% to 73.1%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| The Huntington National Bank | $396M | 27.8% | 0% |
| United Bank of Michigan | $384M | 27.0% | +39% |
| PNC Bank, National Association | $261M | 18.3% | +9% |
| Fifth Third Bank, National Association | $187M | 13.1% | -2% |
| Macatawa Bank, National Association | $158M | 11.1% | +37% |
| Highpoint Community Bank | $38M | 2.7% | +131% |
The 6 insured institutions with a branch presence in this county, as of June 30, 2025. Five-year change compares the same institution’s county deposits in 2020 and 2025. Institutions are tracked by FDIC certificate number, and where an institution acquired another bank, the acquired bank’s prior deposits are folded into the baseline so the change reflects the combined, continuing franchise rather than reading as new. Even so, a large gain can reflect acquisition rather than organic growth; “no 2020 presence” means neither the institution nor a bank it later absorbed reported deposits in this county that year.
Part of the Grand Rapids-Wyoming market
Allegan County is one of 8 counties that make up the Grand Rapids-Wyoming, MI market, a Combined Statistical Area (ranked #48 of 293 U.S. markets by economic output). It produces 6.3% of the market’s output and holds 3.9% of its deposits.
| Measure | Allegan County | Share of Grand Rapids-Wyoming market |
|---|---|---|
| 2024 GDP | $5.1B | 6.3% |
| Deposits | $1.4B | 3.9% |
| Population | 123,188 | 8.1% |
View the full Grand Rapids-Wyoming market profile →
Recruiting in Allegan County
Deposits are held closely by the largest banks, which often means the bankers worth recruiting are inside a small number of institutions. Who holds the deposits, and how contested the market is, shapes both the runway for growth and the competition you would be recruiting against. We recruit commercial relationship managers, banking teams, and market leaders for banks building in markets like Allegan County, on a retained basis.
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