Charlottesville city, Virginia, a core county of the Charlottesville, VA market, holds $2.6B in deposits across 10 insured institutions and 16 branches. Bank of America, National Association is the largest deposit holder at 42.4% share. The top three institutions hold 71.0% of deposits, which places the county in the concentrated band. Deposits have fallen 14.6% since 2020 while the branch count fell by 8. It produces $3.8B of output, ranking #689 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 24 in 2020 to 16 in 2025. Institutions: 9 to 10. Top-three share: 78.1% to 71.0%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Bank of America, National Association | $1.1B | 42.4% | +11% |
| Wells Fargo Bank, National Association | $419M | 16.4% | -38% |
| Virginia National Bank | $315M | 12.3% | -17% |
| Truist Bank | $313M | 12.2% | -55% |
| Atlantic Union Bank | $208M | 8.1% | +10% |
| JPMorgan Chase Bank, National Association | $68M | 2.7% | no 2020 presence |
| United Bank | $57M | 2.2% | +55% |
| Carter Bank & Trust | $49M | 1.9% | +113% |
| Citizens and Farmers Bank | $39M | 1.5% | +133% |
| Bank of the James | $8M | 0.3% | -44% |
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 organic growth; “no 2020 presence” means neither the institution nor a bank it later absorbed reported deposits in this county that year.
Part of the Charlottesville market
Charlottesville city is one of 5 counties that make up the Charlottesville, VA market, a Metropolitan Statistical Area (ranked #151 of 293 U.S. markets by economic output). It produces 23.8% of the market’s output and holds 42.1% of its deposits.
| Measure | Charlottesville city | Share of Charlottesville market |
|---|---|---|
| 2024 GDP | $3.8B | 23.8% |
| Deposits | $2.6B | 42.1% |
| Population | 44,388 | 19.4% |
View the full Charlottesville market profile →
Recruiting in Charlottesville city
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 Charlottesville city, on a retained basis.
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