Florence County, South Carolina, a core county of the Florence, SC market, holds $3.5B in deposits across 14 insured institutions and 38 branches. Wells Fargo Bank, National Association is the largest deposit holder at 18.1% share. The top three institutions hold 43.8% of deposits, which places the county in the fragmented band. Deposits have grown 22.7% since 2020 while the branch count fell by 3. It produces $7.9B of output, ranking #428 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 41 in 2020 to 38 in 2025. Institutions: 14 to 14. Top-three share: 50.9% to 43.8%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Wells Fargo Bank, National Association | $630M | 18.1% | -3% |
| SouthState Bank, National Association | $477M | 13.7% | +22% |
| First-Citizens Bank & Trust Company | $413M | 11.9% | +44% |
| First Reliance Bank | $390M | 11.2% | +29% |
| The Citizens Bank | $383M | 11.0% | +41% |
| First Bank | $321M | 9.2% | +286% |
| Truist Bank | $245M | 7.0% | -39% |
| Carolina Bank & Trust Co. | $215M | 6.2% | +92% |
| Anderson Brothers Bank | $136M | 3.9% | +49% |
| TD Bank, National Association | $102M | 2.9% | +8% |
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 Florence market
Florence County is one of 2 counties that make up the Florence, SC market, a Metropolitan Statistical Area (ranked #189 of 293 U.S. markets by economic output). It produces 74.8% of the market’s output and holds 81.1% of its deposits.
| Measure | Florence County | Share of Florence market |
|---|---|---|
| 2024 GDP | $7.9B | 74.8% |
| Deposits | $3.5B | 81.1% |
| Population | 138,504 | 68.8% |
View the full Florence market profile →
Recruiting in Florence 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 Florence County, on a retained basis.
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