Bay County, Florida, a core county of the Panama City-Panama City Beach, FL market, holds $4.7B in deposits across 18 insured institutions and 51 branches. Regions Bank is the largest deposit holder at 20.0% share. The top three banks hold 49% of deposits, which places the county in the Moderate band. Deposits have grown 13.2% since 2021 while the branch count rose by 2.0%. It produced $10.4B of real gross domestic product in 2024, ranking #348 of the 1,523 ranked counties by economic output.
Ranks show where the county stands among the 1,523 ranked counties (those within a Combined or Metropolitan Statistical Area that have a branch). They describe relative position, not a rating of market quality or suitability.
Deposit trend
Branches: 50 in 2021 to 51 in 2026. Institutions: 17 to 18. Top-three share: 46% to 49%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Regions Bank | $949M | 20.0% | +17% |
| Trustmark Bank | $844M | 17.8% | +37% |
| Hancock Whitney Bank | $536M | 11.3% | +6% |
| Wells Fargo Bank | $420M | 8.9% | +5% |
| Ameris Bank | $413M | 8.7% | +60% |
| Centennial Bank | $404M | 8.5% | +37% |
| The Huntington National Bank | $375M | 7.9% | -13% |
| Truist Bank | $239M | 5.0% | -15% |
| Community Bank of Mississippi | $158M | 3.3% | +1% |
| First Federal Bank | $98M | 2.1% | +80% |
| MidSouth Bank | $76M | 1.6% | +41% |
| ServisFirst Bank | $64M | 1.4% | no 2021 presence |
| PeoplesSouth Bank | $60M | 1.3% | +12% |
| SmartBank | $58M | 1.2% | +21% |
| Capital City Bank | $24M | 0.5% | +258% |
| United Community Bank | $10M | 0.2% | no 2021 presence |
| Renasant Bank | $9M | 0.2% | -32% |
| Southeast First National Bank | <$1M | <0.1% | -14% |
The 18 insured institutions with a branch presence in this county, per the FDIC Summary of Deposits, June 30, 2026. Five-year change compares the same institution’s county deposits in 2021 and 2026. 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. “No 2021 presence” means neither the institution nor a bank it later absorbed reported deposits in this county that year. Deposit figures are nominal and are not adjusted for inflation.
Part of the Panama City-Panama City Beach market
Bay County is one of 2 counties that make up the Panama City-Panama City Beach, FL market, a Metropolitan Statistical Area (ranked #184 of 293 U.S. markets by economic output). It produces 93.5% of the market’s output and holds 92.8% of its deposits.
| Measure | Bay County | Share of parent market |
|---|---|---|
| 2024 GDP | $10.4B | 93.5% |
| Deposits | $4.7B | 92.8% |
| Population | 204,479 | 88.5% |
View the full Panama City-Panama City Beach market profile →
Recruiting in Bay County
Deposits are split among a moderate 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 Bay County.
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