Market Intelligence

Boone County, IN

Banking market profile · FDIC Summary of Deposits (SOD), June 30, 2026

Boone County, Indiana, a core county of the Indianapolis-Carmel-Muncie, IN market, holds $1.9B in deposits across 16 insured institutions and 26 branches. PNC Bank is the largest deposit holder at 18.3% share. The top three banks hold 47% of deposits, which places the county in the Moderate band. Deposits have grown 36.6% since 2021 while the branch count rose by 23.8%. It produced $4.8B of real gross domestic product in 2024, ranking #612 of the 1,523 ranked counties by economic output.

Economic scale
2024 Real GDP
$4.8B
#612 of 1,523
Population
80,689
#710 of 1,523
GDP per Capita
$59,363
#366 of 1,523
Deposit market
Deposits (SOD, 6/30/26)
$1.9B
#670 of 1,523
Deposits per Capita
$23,984
#690 of 1,523
Deposits per Branch
$74M
#1,028 of 1,523
Competitive structure
Insured Institutions
16
#321 of 1,523
Branches per 100k Pop.
32.2
#394 of 1,523
Median Deposits per Institution
$88M
The median deposits booked by a single institution in the county. #1,022 of 1,523. A lower figure means institutions typically hold smaller deposit positions here; it reflects local deposit presence, not an institution’s overall size. See Community & Regional Bank Share for institution scale.
Community & Regional Bank Share
45.3%
of county deposits held by banks with $100M to $100B in assets. #1,122 of 1,523. A higher share points to a market where small to mid-size institutions, the kind that compete on relationships and local decision-making, hold more ground.
Top-3 Banks’ Deposit Share: Moderate
47%
The combined deposit share of the top three banks by deposits in the county. A lower share means deposits are spread across more institutions.

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

County Deposits (SOD, 2021 to 2026)+36.6% over 5 years
$1.4B
2021
$1.6B
2022
$1.6B
2023
$1.8B
2024
$1.8B
2025
$1.9B
2026

Branches: 21 in 2021 to 26 in 2026. Institutions: 13 to 16. Top-three share: 49% to 47%.

Institutions by deposits

InstitutionDepositsShareBranches5‑yr
deposits
PNC Bank$354M18.3%2+58%
JPMorgan Chase Bank$319M16.5%3+20%
State Bank$241M12.4%3+15%
The Home National Bank of Thorntown$167M8.6%2+26%
The Huntington National Bank$157M8.1%2+34%
Old National Bank$156M8.1%1+42%
The North Salem State Bank$97M5.0%2+99%
KeyBank$91M4.7%2-8%
BMO Bank$86M4.4%1-5%
Centier Bank$72M3.7%2+59%
The Farmers Bank, Frankfort, Indiana$70M3.6%1+30%
First Farmers Bank & Trust Co.$37M1.9%1no 2021 presence
STAR Financial Bank$37M1.9%1+371%
Fifth Third Bank$26M1.4%1no 2021 presence
Regions Bank$25M1.3%1+80%
Stock Yards Bank & Trust Company<$1M<0.1%1no 2021 presence

The 16 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 Indianapolis-Carmel-Muncie market

Boone County is one of 20 counties that make up the Indianapolis-Carmel-Muncie, IN market, a Combined Statistical Area (ranked #26 of 293 U.S. markets by economic output). It produces 2.5% of the market’s output and holds 1.8% of its deposits.

MeasureBoone CountyShare of parent market
2024 GDP$4.8B2.5%
Deposits$1.9B1.8%
Population80,6893.0%

View the full Indianapolis-Carmel-Muncie market profile →

Recruiting in Boone 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 Boone County.

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