Essex County, New Jersey, a core county of the New York-Newark, NY-NJ-CT-PA market, holds $28.7B in deposits across 31 insured institutions and 187 branches. Flagstar Bank is the largest deposit holder at 13.3% share. The top three banks hold 36% of deposits, which places the county in the Fragmented band. Deposits have fallen 6.4% since 2021 while the branch count fell by 12.2%. It produced $61.0B of real gross domestic product in 2024, ranking #70 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: 213 in 2021 to 187 in 2026. Institutions: 31 to 31. Top-three share: 38% to 36%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Flagstar Bank | $3.8B | 13.3% | +237% |
| JPMorgan Chase Bank | $3.7B | 12.8% | +3% |
| Bank of America | $2.9B | 10.0% | -18% |
| Wells Fargo Bank | $2.8B | 9.8% | -17% |
| Valley National Bank | $2.5B | 8.8% | +8% |
| TD Bank | $2.4B | 8.3% | -14% |
| PNC Bank | $1.9B | 6.5% | -10% |
| Santander Bank | $1.3B | 4.7% | +7% |
| Citizens Bank | $1.3B | 4.5% | -73% |
| Provident Bank | $1.1B | 3.7% | 0% |
| Citibank | $1.1B | 3.7% | +2% |
| Capital One | $598M | 2.1% | +8% |
| Manufacturers and Traders Trust Company | $422M | 1.5% | -15% |
| Columbia Bank | $397M | 1.4% | +15% |
| ConnectOne Bank | $325M | 1.1% | +6% |
| Somerset Regal Bank | $281M | 1.0% | -14% |
| Israel Discount Bank of New York | $260M | 0.9% | -28% |
| Lusitania Savings Bank | $231M | 0.8% | -4% |
| Spencer Savings Bank, SLA | $223M | 0.8% | -10% |
| Kearny Bank | $197M | 0.7% | +9% |
| Popular Bank | $175M | 0.6% | +86% |
| BCB Community Bank | $152M | 0.5% | -6% |
| First Bank | $125M | 0.4% | no 2021 presence |
| Crown Bank | $111M | 0.4% | +47% |
| Industrial Bank | $108M | 0.4% | +10% |
| First Commerce Bank | $101M | 0.4% | +68% |
| Ascendia Bank | $92M | 0.3% | +13% |
| Haven Savings Bank | $82M | 0.3% | -16% |
| Liberty Bank of New Jersey | $59M | 0.2% | no 2021 presence |
| Blue Foundry Bank | $42M | 0.1% | -14% |
| Bogota Savings Bank | $16M | 0.1% | -5% |
The 31 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 New York-Newark market
Essex County is one of 30 counties that make up the New York-Newark, NY-NJ-CT-PA market, a Combined Statistical Area (ranked #1 of 293 U.S. markets by economic output). It produces 2.9% of the market’s output and holds 0.9% of its deposits.
| Measure | Essex County | Share of parent market |
|---|---|---|
| 2024 GDP | $61.0B | 2.9% |
| Deposits | $28.7B | 0.9% |
| Population | 896,379 | 4.0% |
View the full New York-Newark market profile →
Recruiting in Essex County
Deposits are spread across a competitive field of institutions, so the bankers worth recruiting are dispersed across more of them. 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 Essex County.
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