Hendricks County, Indiana, a core county of the Indianapolis-Carmel-Muncie, IN market, holds $4.8B in deposits across 19 insured institutions and 56 branches. JPMorgan Chase Bank is the largest deposit holder at 17.3% share. The top three banks hold 40% of deposits, which places the county in the Fragmented band. Deposits have grown 30.0% since 2021 while the branch count fell by 3.4%. It produced $7.8B of real gross domestic product in 2024, ranking #429 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: 58 in 2021 to 56 in 2026. Institutions: 17 to 19. Top-three share: 45% to 40%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| JPMorgan Chase Bank | $830M | 17.3% | +20% |
| PNC Bank | $555M | 11.6% | +7% |
| First Merchants Bank | $532M | 11.1% | +19% |
| The North Salem State Bank | $488M | 10.2% | +47% |
| The Huntington National Bank | $466M | 9.7% | +37% |
| State Bank | $440M | 9.2% | +27% |
| Fifth Third Bank | $423M | 8.8% | +90% |
| Hendricks County Bank and Trust Company | $226M | 4.7% | +18% |
| BMO Bank | $170M | 3.6% | -1% |
| Old National Bank | $164M | 3.4% | +45% |
| First Financial Bank | $151M | 3.2% | +149% |
| Citizens Bank | $110M | 2.3% | +9% |
| First National Bank | $82M | 1.7% | +14% |
| Centier Bank | $55M | 1.1% | no 2021 presence |
| KeyBank | $46M | 1.0% | +8% |
| Stock Yards Bank & Trust Company | $23M | 0.5% | +50% |
| Home Bank SB | $17M | 0.4% | +28% |
| Bank of America | $7M | 0.1% | no 2021 presence |
| Woodforest National Bank | $3M | 0.1% | -18% |
The 19 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 Indianapolis-Carmel-Muncie market
Hendricks 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 4.1% of the market’s output and holds 4.6% of its deposits.
| Measure | Hendricks County | Share of parent market |
|---|---|---|
| 2024 GDP | $7.8B | 4.1% |
| Deposits | $4.8B | 4.6% |
| Population | 193,510 | 7.1% |
View the full Indianapolis-Carmel-Muncie market profile →
Recruiting in Hendricks 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 Hendricks County.
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