Clay County, Minnesota, a core county of the Fargo-Wahpeton, ND-MN market, holds $1.7B in deposits across 11 insured institutions and 19 branches. Bell Bank is the largest deposit holder at 39.9% share. The top three banks hold 61% of deposits, which places the county in the Concentrated band. Deposits have grown 14.2% since 2021 while the branch count fell by 9.5%. It produced $2.2B of real gross domestic product in 2024, ranking #893 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 19 in 2026. Institutions: 12 to 11. Top-three share: 60% to 61%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Bell Bank | $665M | 39.9% | +30% |
| Wells Fargo Bank | $186M | 11.2% | -20% |
| Gate City Bank | $169M | 10.2% | +39% |
| First International Bank & Trust | $153M | 9.2% | +60% |
| Northwestern Bank | $130M | 7.8% | 0% |
| Valley Premier Bank | $128M | 7.7% | +9% |
| Midwest Bank | $119M | 7.1% | +38% |
| Old National Bank | $49M | 2.9% | -14% |
| American Federal Bank | $38M | 2.3% | -8% |
| Choice Financial Group | $27M | 1.6% | +44% |
| State Bank of Lake Park | $3M | 0.2% | -35% |
The 11 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 Fargo-Wahpeton market
Clay County is one of 4 counties that make up the Fargo-Wahpeton, ND-MN market, a Combined Statistical Area (ranked #142 of 293 U.S. markets by economic output). It produces 12.0% of the market’s output and holds 12.1% of its deposits.
| Measure | Clay County | Share of parent market |
|---|---|---|
| 2024 GDP | $2.2B | 12.0% |
| Deposits | $1.7B | 12.1% |
| Population | 67,734 | 23.2% |
View the full Fargo-Wahpeton market profile →
Recruiting in Clay 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 Clay County.
See how we help banks recruit commercial banking talent