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.
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: 21 in 2021 to 26 in 2026. Institutions: 13 to 16. Top-three share: 49% to 47%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| PNC Bank | $354M | 18.3% | +58% |
| JPMorgan Chase Bank | $319M | 16.5% | +20% |
| State Bank | $241M | 12.4% | +15% |
| The Home National Bank of Thorntown | $167M | 8.6% | +26% |
| The Huntington National Bank | $157M | 8.1% | +34% |
| Old National Bank | $156M | 8.1% | +42% |
| The North Salem State Bank | $97M | 5.0% | +99% |
| KeyBank | $91M | 4.7% | -8% |
| BMO Bank | $86M | 4.4% | -5% |
| Centier Bank | $72M | 3.7% | +59% |
| The Farmers Bank, Frankfort, Indiana | $70M | 3.6% | +30% |
| First Farmers Bank & Trust Co. | $37M | 1.9% | no 2021 presence |
| STAR Financial Bank | $37M | 1.9% | +371% |
| Fifth Third Bank | $26M | 1.4% | no 2021 presence |
| Regions Bank | $25M | 1.3% | +80% |
| Stock Yards Bank & Trust Company | <$1M | <0.1% | no 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.
| Measure | Boone County | Share of parent market |
|---|---|---|
| 2024 GDP | $4.8B | 2.5% |
| Deposits | $1.9B | 1.8% |
| Population | 80,689 | 3.0% |
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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