Black Hawk County, Iowa, a core county of the Waterloo-Cedar Falls, IA market, holds $2.8B in deposits across 13 insured institutions and 32 branches. Farmers State Bank is the largest deposit holder at 36.2% share. The top three banks hold 59% of deposits, which places the county in the Moderate band. Deposits have grown 7.5% since 2020 while the branch count fell by 15.8%. It produces $7.6B of output, ranking #438 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: 38 in 2020 to 32 in 2025. Institutions: 13 to 13. Top-three share: 59% to 59%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Farmers State Bank | $1.0B | 36.2% | +28% |
| U.S. Bank | $359M | 12.8% | -22% |
| Lincoln Savings Bank | $283M | 10.1% | +45% |
| Wells Fargo Bank | $233M | 8.3% | -18% |
| Cedar Rapids Bank and Trust Company | $202M | 7.2% | +30% |
| BankIowa | $171M | 6.1% | +8% |
| Regions Bank | $169M | 6.0% | +3% |
| First Bank | $110M | 3.9% | +12% |
| First Security State Bank | $80M | 2.8% | -4% |
| MidWestOne Bank | $76M | 2.7% | +17% |
| First Interstate Bank | $39M | 1.4% | -55% |
| Cedar Valley Bank & Trust | $38M | 1.4% | +41% |
| Heartland Bank and Trust Company | $29M | 1.0% | no 2020 presence |
The 13 insured institutions with a branch presence in this county, per the FDIC Summary of Deposits, 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. “No 2020 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 Waterloo-Cedar Falls market
Black Hawk County is one of 3 counties that make up the Waterloo-Cedar Falls, IA market, a Metropolitan Statistical Area (ranked #202 of 293 U.S. markets by economic output). It produces 81.2% of the market’s output and holds 58.1% of its deposits.
| Measure | Black Hawk County | Share of parent market |
|---|---|---|
| 2024 GDP | $7.6B | 81.2% |
| Deposits | $2.8B | 58.1% |
| Population | 131,532 | 77.7% |
View the full Waterloo-Cedar Falls market profile →
Recruiting in Black Hawk 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 Black Hawk County.
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