Chesterfield County, Virginia, a core county of the Richmond, VA market, holds $7.2B in deposits across 20 insured institutions and 66 branches. Wells Fargo Bank, National Association is the largest deposit holder at 33.3% share. The top three institutions hold 63.1% of deposits, which places the county in the concentrated band. Deposits have grown 22.3% since 2020 while the branch count fell by 8. It produces $18.5B of output, ranking #231 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 74 in 2020 to 66 in 2025. Institutions: 18 to 20. Top-three share: 64.3% to 63.1%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Wells Fargo Bank, National Association | $2.4B | 33.3% | +28% |
| Truist Bank | $1.3B | 18.1% | +5% |
| Bank of America, National Association | $843M | 11.7% | +34% |
| Atlantic Union Bank | $729M | 10.1% | +9% |
| TowneBank | $500M | 6.9% | +383% |
| Citizens and Farmers Bank | $275M | 3.8% | +26% |
| First-Citizens Bank & Trust Company | $249M | 3.5% | +58% |
| Primis Bank | $148M | 2.0% | +107% |
| JPMorgan Chase Bank, National Association | $132M | 1.8% | no 2020 presence |
| Blue Ridge Bank, National Association | $113M | 1.6% | 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 Richmond market
Chesterfield County is one of 17 counties that make up the Richmond, VA market, a Metropolitan Statistical Area (ranked #40 of 293 U.S. markets by economic output). It produces 19.1% of the market’s output and holds 10.6% of its deposits.
| Measure | Chesterfield County | Share of Richmond market |
|---|---|---|
| 2024 GDP | $18.5B | 19.1% |
| Deposits | $7.2B | 10.6% |
| Population | 397,148 | 28.6% |
View the full Richmond market profile →
Recruiting in Chesterfield 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 Chesterfield County, on a retained basis.
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