Blue Earth County, Minnesota, a core county of the Mankato-New Ulm, MN market, holds $2.7B in deposits across 17 insured institutions and 27 branches. Wells Fargo Bank is the largest deposit holder at 22.7% share. The top three banks hold 50% of deposits, which places the county in the Moderate band. Deposits have grown 6.4% since 2021 while the branch count fell by 6.9%. It produced $4.4B of real gross domestic product in 2024, ranking #651 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: 29 in 2021 to 27 in 2026. Institutions: 18 to 17. Top-three share: 59% to 50%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Wells Fargo Bank | $616M | 22.7% | -22% |
| Community Bank Mankato | $474M | 17.4% | +33% |
| U.S. Bank | $276M | 10.2% | -20% |
| Minnstar Bank | $180M | 6.6% | +26% |
| Old National Bank | $179M | 6.6% | +9% |
| Pioneer Bank | $173M | 6.4% | +29% |
| St. Clair State Bank (Incorporated) | $118M | 4.4% | +25% |
| BankVista | $114M | 4.2% | +73% |
| United Prairie Bank | $106M | 3.9% | +66% |
| First National Bank Minnesota | $103M | 3.8% | +25% |
| ProGrowth Bank | $93M | 3.4% | +154% |
| CCFBank | $86M | 3.2% | +12% |
| The Huntington National Bank | $86M | 3.2% | -9% |
| Profinium, Inc. | $42M | 1.6% | -37% |
| Cornerstone State Bank | $37M | 1.4% | +22% |
| West Bank | $33M | 1.2% | +415% |
| Frandsen Bank & Trust | $0M | 0.0% | no 2021 presence |
The 17 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 Mankato-New Ulm market
Blue Earth County is one of 3 counties that make up the Mankato-New Ulm, MN market, a Combined Statistical Area (ranked #236 of 293 U.S. markets by economic output). It produces 58.7% of the market’s output and holds 60.9% of its deposits.
| Measure | Blue Earth County | Share of parent market |
|---|---|---|
| 2024 GDP | $4.4B | 58.7% |
| Deposits | $2.7B | 60.9% |
| Population | 70,634 | 54.2% |
View the full Mankato-New Ulm market profile →
Recruiting in Blue Earth 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 Blue Earth County.
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