Bay County, Florida, a core county of the Panama City-Panama City Beach, FL market, holds $4.4B in deposits across 18 insured institutions and 50 branches. Trustmark National Bank is the largest deposit holder at 17.9% share. The top three institutions hold 47.2% of deposits, which places the county in the moderately concentrated band. Deposits have grown 12.9% since 2020 while the branch count fell by 1. It produces $10.4B of output, ranking #348 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 51 in 2020 to 50 in 2025. Institutions: 17 to 18. Top-three share: 49.7% to 47.2%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Trustmark National Bank | $788M | 17.9% | +39% |
| Regions Bank | $768M | 17.4% | -9% |
| Hancock Whitney Bank | $528M | 12.0% | 0% |
| Cadence Bank | $508M | 11.5% | +29% |
| Ameris Bank | $395M | 8.9% | +117% |
| Wells Fargo Bank, National Association | $388M | 8.8% | +12% |
| Centennial Bank | $285M | 6.5% | +10% |
| Truist Bank | $242M | 5.5% | -25% |
| Community Bank of Mississippi | $126M | 2.9% | +10% |
| First Federal Bank | $114M | 2.6% | +156% |
The 10 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 competitive growth; “no 2020 presence” means neither the institution nor a bank it later absorbed reported deposits in this county that year.
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 92.3% of its deposits.
| Measure | Bay County | Share of Panama City-Panama City Beach market |
|---|---|---|
| 2024 GDP | $10.4B | 93.5% |
| Deposits | $4.4B | 92.3% |
| 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, on a retained basis.
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