Hamilton County, Indiana, a core county of the Indianapolis-Carmel-Muncie, IN market, holds $28.2B in deposits across 30 insured institutions and 115 branches. Merchants Bank of Indiana is the largest deposit holder at 38.9% share. The top three institutions hold 67.7% of deposits, which places the county in the concentrated band. Deposits have grown 85.2% since 2020 while the branch count rose by 5. It produces $24.9B of output, ranking #185 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 110 in 2020 to 115 in 2025. Institutions: 27 to 30. Top-three share: 58.2% to 67.7%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Merchants Bank of Indiana | $11.0B | 38.9% | +233% |
| First Internet Bank of Indiana | $5.3B | 18.8% | +56% |
| JPMorgan Chase Bank, National Association | $2.8B | 10.0% | +30% |
| First Merchants Bank | $1.9B | 6.7% | +76% |
| Fifth Third Bank, National Association | $1.0B | 3.6% | +59% |
| The Huntington National Bank | $838M | 3.0% | +34% |
| PNC Bank, National Association | $829M | 2.9% | +6% |
| BMO Bank National Association | $513M | 1.8% | +3% |
| Lake City Bank | $496M | 1.8% | +6% |
| United Fidelity Bank, fsb | $375M | 1.3% | +296% |
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 Indianapolis-Carmel-Muncie market
Hamilton County is one of 20 counties that make up the Indianapolis-Carmel-Muncie, IN market, a Combined Statistical Area (ranked #26 of 293 U.S. markets by economic output). It produces 13.0% of the market’s output and holds 27.7% of its deposits.
| Measure | Hamilton County | Share of Indianapolis-Carmel-Muncie market |
|---|---|---|
| 2024 GDP | $24.9B | 13.0% |
| Deposits | $28.2B | 27.7% |
| Population | 387,036 | 14.2% |
View the full Indianapolis-Carmel-Muncie market profile →
Recruiting in Hamilton 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 Hamilton County, on a retained basis.
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