Harrisonburg city, Virginia, a core county of the Harrisonburg-Staunton-Stuarts Draft, VA market, holds $2.2B in deposits across 14 insured institutions and 25 branches. Truist Bank is the largest deposit holder at 22.0% share. The top three institutions hold 51.7% of deposits, which places the county in the moderately concentrated band. Deposits have grown 23.4% since 2020 while the branch count fell by 3. It produces $3.0B of output, ranking #768 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 28 in 2020 to 25 in 2025. Institutions: 14 to 14. Top-three share: 53.8% to 51.7%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Truist Bank | $486M | 22.0% | +14% |
| Wells Fargo Bank, National Association | $422M | 19.1% | +27% |
| Farmers & Merchants Bank | $235M | 10.6% | +42% |
| United Bank | $224M | 10.1% | +17% |
| Bank of America, National Association | $205M | 9.3% | 0% |
| The First Bank and Trust Company | $144M | 6.5% | +115% |
| Burke & Herbert Bank & Trust Company | $119M | 5.4% | no 2020 presence |
| Atlantic Union Bank | $110M | 5.0% | +12% |
| Pendleton Community Bank, Inc. | $93M | 4.2% | no 2020 presence |
| First-Citizens Bank & Trust Company | $52M | 2.4% | +22% |
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 organic growth; “no 2020 presence” means neither the institution nor a bank it later absorbed reported deposits in this county that year.
Part of the Harrisonburg-Staunton-Stuarts Draft market
Harrisonburg city is one of 5 counties that make up the Harrisonburg-Staunton-Stuarts Draft, VA market, a Combined Statistical Area (ranked #163 of 293 U.S. markets by economic output). It produces 21.8% of the market’s output and holds 38.4% of its deposits.
| Measure | Harrisonburg city | Share of Harrisonburg-Staunton-Stuarts Draft market |
|---|---|---|
| 2024 GDP | $3.0B | 21.8% |
| Deposits | $2.2B | 38.4% |
| Population | 50,839 | 18.8% |
View the full Harrisonburg-Staunton-Stuarts Draft market profile →
Recruiting in Harrisonburg city
Deposits are split among a moderate 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 Harrisonburg city, on a retained basis.
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