Grand Traverse County, Michigan, a core county of the Traverse City, MI market, holds $3.6B in deposits across 12 insured institutions and 27 branches. The Huntington National Bank is the largest deposit holder at 37.2% share. The top three banks hold 69% of deposits, which places the county in the Concentrated band. Deposits have grown 16.7% since 2020 while the branch count fell by 20.6%. It produces $5.9B of output, ranking #536 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: 34 in 2020 to 27 in 2025. Institutions: 12 to 12. Top-three share: 61% to 69%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| The Huntington National Bank | $1.4B | 37.2% | +36% |
| Fifth Third Bank | $614M | 16.9% | -24% |
| JPMorgan Chase Bank | $539M | 14.8% | 0% |
| Independent Bank | $332M | 9.1% | +51% |
| First National Bank of America | $277M | 7.6% | +33% |
| PNC Bank | $114M | 3.1% | -12% |
| Honor Bank | $111M | 3.0% | +72% |
| State Savings Bank | $86M | 2.4% | +177% |
| West Shore Bank | $77M | 2.1% | +224% |
| First Community Bank | $64M | 1.8% | +27% |
| Nicolet National Bank | $57M | 1.6% | no 2020 presence |
| Mercantile Bank | $15M | 0.4% | no 2020 presence |
The 12 insured institutions with a branch presence in this county, per the FDIC Summary of Deposits, 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. “No 2020 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 Traverse City market
Grand Traverse County is one of 4 counties that make up the Traverse City, MI market, a Metropolitan Statistical Area (ranked #219 of 293 U.S. markets by economic output). It produces 73.7% of the market’s output and holds 80.0% of its deposits.
| Measure | Grand Traverse County | Share of parent market |
|---|---|---|
| 2024 GDP | $5.9B | 73.7% |
| Deposits | $3.6B | 80.0% |
| Population | 96,729 | 61.6% |
View the full Traverse City market profile →
Recruiting in Grand Traverse 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 Grand Traverse County.
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