Carroll County, Maryland, a county in the Washington-Baltimore-Arlington, DC-MD-VA-WV-PA market, holds $5.0B in deposits across 10 insured institutions and 39 branches. Truist Bank is the largest deposit holder at 28.6% share. The top three institutions hold 68.9% of deposits, which places the county in the concentrated band. Deposits have grown 12.3% since 2020 while the branch count fell by 9. It produces $6.8B of output, ranking #483 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 48 in 2020 to 39 in 2025. Institutions: 11 to 10. Top-three share: 66.3% to 68.9%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Truist Bank | $1.4B | 28.6% | +8% |
| PNC Bank, National Association | $1.3B | 26.8% | +21% |
| Manufacturers and Traders Trust Company | $670M | 13.4% | +32% |
| Bank of America, National Association | $445M | 8.9% | +15% |
| Farmers and Merchants Bank | $327M | 6.6% | +109% |
| ACNB Bank | $268M | 5.4% | -19% |
| Wells Fargo Bank, National Association | $253M | 5.1% | +13% |
| Atlantic Union Bank | $158M | 3.2% | +129% |
| WesBanco Bank, Inc. | $87M | 1.7% | +16% |
| JPMorgan Chase Bank, National Association | $11M | 0.2% | no 2020 presence |
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 Washington-Baltimore-Arlington market
Carroll County is one of 42 counties that make up the Washington-Baltimore-Arlington, DC-MD-VA-WV-PA market, a Combined Statistical Area (ranked #4 of 293 U.S. markets by economic output). It produces 0.8% of the market’s output and holds 1.1% of its deposits.
| Measure | Carroll County | Share of Washington-Baltimore-Arlington market |
|---|---|---|
| 2024 GDP | $6.8B | 0.8% |
| Deposits | $5.0B | 1.1% |
| Population | 176,677 | 1.7% |
View the full Washington-Baltimore-Arlington market profile →
Recruiting in Carroll County
Deposits are held closely by the largest banks, which often means the bankers worth recruiting are inside a small 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 Carroll County, on a retained basis.
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