Market Intelligence

Hennepin County, MN

Banking market profile · FDIC Summary of Deposits (SOD), June 30, 2026
Market Intelligence › Minneapolis-St. Paul, MN-WI › Hennepin County

Hennepin County, Minnesota, a core county of the Minneapolis-St. Paul, MN-WI market, holds $144.2B in deposits across 68 insured institutions and 258 branches. U.S. Bank is the largest deposit holder at 29.8% share. The top three banks hold 73% of deposits, which places the county in the Concentrated band. Deposits have grown 8.6% since 2021 while the branch count fell by 3.0%. It produced $155.0B of real gross domestic product in 2024, ranking #17 of the 1,523 ranked counties by economic output.

Economic scale
2024 Real GDP
$155.0B
#17 of 1,523
Population
1,284,784
#35 of 1,523
GDP per Capita
$120,663
#40 of 1,523
Deposit market
Deposits (SOD, 6/30/26)
$144.2B
#22 of 1,523
Deposits per Capita
$112,223
#21 of 1,523
Deposits per Branch
$559M
#19 of 1,523
Competitive structure
Insured Institutions
68
#9 of 1,523
Branches per 100k Pop.
20.1
#1,000 of 1,523
Median Deposits per Institution
$147M
The median deposits booked by a single institution in the county. #562 of 1,523. A lower figure means institutions typically hold smaller deposit positions here; it reflects local deposit presence, not an institution’s overall size. See Community & Regional Bank Share for institution scale.
Community & Regional Bank Share
35.2%
of county deposits held by banks with $100M to $100B in assets. #1,254 of 1,523. A higher share points to a market where small to mid-size institutions, the kind that compete on relationships and local decision-making, hold more ground.
Top-3 Banks’ Deposit Share: Concentrated
73%
The combined deposit share of the top three banks by deposits in the county. A lower share means deposits are spread across more institutions.

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

County Deposits (SOD, 2021 to 2026)+8.6% over 5 years
$132.8B
2021
$134.9B
2022
$133.9B
2023
$129.9B
2024
$130.4B
2025
$144.2B
2026

Branches: 266 in 2021 to 258 in 2026. Institutions: 70 to 68. Top-three share: 73% to 73%.

Institutions by deposits

InstitutionDepositsShareBranches5‑yr
deposits
U.S. Bank$42.9B29.8%30+28%
Wells Fargo Bank$38.5B26.7%39-30%
Ameriprise Bank, FSB$23.9B16.6%2+176%
Bell Bank$4.7B3.3%4+102%
BMO Bank$4.3B2.9%11-48%
Bridgewater Bank$4.2B2.9%8+44%
Bank of America$3.9B2.7%10-16%
The Huntington National Bank$3.0B2.1%27-3%
Choice Financial Group$2.6B1.8%2+341%
Old National Bank$2.4B1.7%12-27%
Alerus Financial$1.9B1.3%3+50%
Tradition Capital Bank$1.6B1.1%2+56%
Associated Bank$1.0B0.7%8-22%
JPMorgan Chase Bank$687M0.5%20+203%
VersaBank USA$676M0.5%1no 2021 presence
United Bankers' Bank$636M0.4%1-20%
Dacotah Bank$501M0.3%1no 2021 presence
UMB Bank$483M0.3%2-37%
EntreBank$474M0.3%1no 2021 presence
Scale Bank$423M0.3%1-19%
Minnwest Bank$410M0.3%2+78%
Luminate Bank$384M0.3%1+527%
Crown Bank$333M0.2%2+25%
Northeast Bank$299M0.2%1-8%
Highland Bank$296M0.2%3+3%
21st Century Bank$280M0.2%3+17%
Citizens Independent Bank$267M0.2%4-16%
Union Bank and Trust Company$231M0.2%1+24%
MidCountry Bank$230M0.2%3-10%
Security Bank & Trust Company$196M0.1%4-3%
Nicolet National Bank$195M0.1%3-24%
Farmers State Bank of Hamel$185M0.1%2+11%
VisionBank$184M0.1%1+19%
Sunrise Banks$160M0.1%2-28%
Commerce Bank$134M0.1%1-37%
Think Mutual Bank$129M0.1%1-6%
Park State Bank$105M0.1%1+77%
First Bank & Trust$104M0.1%1+56%
Premier Bank Minnesota$87M0.1%1+10%
Premier Bank$84M0.1%1-3%
The Northern Trust Company$80M0.1%1+118%
Granite Bank$79M0.1%1+8%
Bank of Maple Plain$75M0.1%1-23%
CorTrust Bank$73M0.1%5-18%
Platinum Bank$70M<0.1%1-43%
First Western Bank & Trust$68M<0.1%1-34%
Eagle Rock Bank$63M<0.1%1+62%
North American Banking Company$61M<0.1%2-18%
First Independence Bank$61M<0.1%2no 2021 presence
PrinsBank$60M<0.1%1+12%
First International Bank & Trust$58M<0.1%1no 2021 presence
First Resource Bank$56M<0.1%1+193%
Coulee Bank$54M<0.1%1no 2021 presence
Americana Community Bank$46M<0.1%1+13%
Falcon National Bank$36M<0.1%1+23%
First Bank Elk River$35M<0.1%1-14%
Woodlands National Bank$29M<0.1%1-11%
Minnesota Lakes Bank$28M<0.1%1-41%
Gateway Bank$26M<0.1%1+11%
Great Southern Bank$25M<0.1%2-71%
Star Bank$18M<0.1%1-41%
Unity Bank$16M<0.1%1-50%
Center National Bank$13M<0.1%1-32%
First National Bank$8M<0.1%1-24%
Pine Country Bank$5M<0.1%1-15%
American Heritage National Bank$2M<0.1%1no 2021 presence
Wilmington Trust$0M0.0%1no 2021 presence
Thrivent Trust Company$0M0.0%1no 2021 presence

The 68 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 Minneapolis-St. Paul market

Hennepin County is one of 21 counties that make up the Minneapolis-St. Paul, MN-WI market, a Combined Statistical Area (ranked #16 of 293 U.S. markets by economic output). It produces 49.4% of the market’s output and holds 54.1% of its deposits.

MeasureHennepin CountyShare of parent market
2024 GDP$155.0B49.4%
Deposits$144.2B54.1%
Population1,284,78430.7%

View the full Minneapolis-St. Paul market profile →

Recruiting in Hennepin 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 Hennepin County.

See how we help banks recruit commercial banking talent

Other counties in the Minneapolis-St. Paul market

All 293 markets and the 1,523 counties with a branch within a CSA or MSA are covered in the Market Intelligence resource. See the methodology for how each figure is built and when to expect updates, or the disclaimer for how this data should, and should not, be read.