Hendricks County, Indiana, a core county of the Indianapolis-Carmel-Muncie, IN market, holds $4.7B in deposits across 19 insured institutions and 56 branches. JPMorgan Chase Bank, National Association is the largest deposit holder at 17.6% share. The top three institutions hold 40.0% of deposits, which places the county in the fragmented band. Deposits have grown 42.4% since 2020 while the branch count fell by 2. It produces $7.8B of output, ranking #429 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 58 in 2020 to 56 in 2025. Institutions: 17 to 19. Top-three share: 42.8% to 40.0%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| JPMorgan Chase Bank, National Association | $826M | 17.6% | +43% |
| PNC Bank, National Association | $530M | 11.3% | +17% |
| State Bank | $523M | 11.1% | +57% |
| First Merchants Bank | $481M | 10.2% | +27% |
| The Huntington National Bank | $441M | 9.4% | +47% |
| The North Salem State Bank | $425M | 9.1% | +45% |
| Fifth Third Bank, National Association | $400M | 8.5% | +102% |
| Hendricks County Bank and Trust Company | $211M | 4.5% | +27% |
| BMO Bank National Association | $191M | 4.1% | +8% |
| First Financial Bank | $187M | 4.0% | +170% |
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
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 Indianapolis-Carmel-Muncie market |
|---|---|---|
| 2024 GDP | $7.8B | 4.1% |
| Deposits | $4.7B | 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, on a retained basis.
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