Market Intelligence

Hennepin County, MN

Banking market profile · FDIC Summary of Deposits (SOD), June 30, 2025
Market Intelligence › Minneapolis-St. Paul, MN-WI › Hennepin County

Hennepin County, Minnesota, a core county of the Minneapolis-St. Paul, MN-WI market, holds $130.4B in deposits across 68 insured institutions and 264 branches. U.S. Bank National Association is the largest deposit holder at 31.7% share. The top three banks hold 71% of deposits, which places the county in the Concentrated band. Deposits have grown 4.5% since 2020 while the branch count fell by 2.9%. It produces $155.0B of output, 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, 6/30/25)
$130.4B
#22 of 1,523
Deposits per Capita
$101,508
#22 of 1,523
Deposits per Branch
$494M
#21 of 1,523
Competitive structure
Insured Institutions
68
#9 of 1,523
Branches per 100k Pop.
20.5
#971 of 1,523
Median Deposits per Institution
$160M
The median deposits booked by a single institution in the county. #482 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
36.7%
of county deposits held by banks with $100M to $100B in assets. #1,270 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
71%
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, 2020 to 2025)+4.5% over 5 years
$124.8B
2020
$132.8B
2021
$134.9B
2022
$133.9B
2023
$129.9B
2024
$130.4B
2025

Branches: 272 in 2020 to 264 in 2025. Institutions: 72 to 68. Top-three share: 73% to 71%.

Institutions by deposits

InstitutionDepositsShareBranches5‑yr
deposits
U.S. Bank$41.3B31.7%31+28%
Wells Fargo Bank$28.8B22.1%38-46%
Ameriprise Bank, FSB$22.5B17.3%2+324%
Bank of America$4.7B3.6%10+2%
Bell Bank$4.3B3.3%4+129%
BMO Bank$4.2B3.2%13-34%
Bridgewater Bank$4.0B3.1%9+83%
The Huntington National Bank$3.0B2.3%27-43%
Old National Bank$2.8B2.1%15-9%
Choice Financial Group$2.6B2.0%2+422%
Alerus Financial$1.7B1.3%4+49%
Tradition Capital Bank$1.3B1.0%2+63%
Associated Bank$783M0.6%7-4%
United Bankers' Bank$616M0.5%1-22%
JPMorgan Chase Bank$566M0.4%19+455%
Minnwest Bank$563M0.4%2+89%
UMB Bank$495M0.4%2no 2020 presence
Scale Bank$401M0.3%1-33%
Dacotah Bank$391M0.3%1no 2020 presence
EntreBank$361M0.3%1no 2020 presence
Crown Bank$359M0.3%2+78%
Northeast Bank$330M0.3%1+35%
Luminate Bank$319M0.2%1+812%
Highland Bank$304M0.2%3+21%
21st Century Bank$279M0.2%3+6%
Citizens Independent Bank$263M0.2%4-12%
MidCountry Bank$236M0.2%3+112%
VisionBank$193M0.1%1+57%
Farmers State Bank of Hamel$187M0.1%2+34%
Security Bank & Trust Company$180M0.1%4no 2020 presence
Union Bank and Trust Company$180M0.1%1+14%
Sunrise Banks$166M0.1%2-6%
MidWestOne Bank$164M0.1%3-28%
American National Bank$162M0.1%1-60%
Commerce Bank$158M0.1%1-1%
Think Mutual Bank$121M0.1%1-3%
First Bank & Trust$101M0.1%1+57%
Park State Bank$86M0.1%1+164%
Premier Bank$84M0.1%1-3%
Bank of Maple Plain$76M0.1%1-9%
Premier Bank Minnesota$75M0.1%1+8%
The Northern Trust Company$74M0.1%1+131%
Platinum Bank$74M0.1%1-16%
CorTrust Bank$72M0.1%5-10%
First Western Bank & Trust$72M0.1%1-13%
Granite Bank$70M0.1%1no 2020 presence
Coulee Bank$59M<0.1%1no 2020 presence
PrinsBank$57M<0.1%1+23%
North American Banking Company$55M<0.1%2-2%
First Independence Bank$55M<0.1%2no 2020 presence
Riverland Bank$50M<0.1%1+119%
Great Southern Bank$48M<0.1%2-49%
Americana Community Bank$44M<0.1%1+25%
First Resource Bank$40M<0.1%1+243%
First Bank Elk River$38M<0.1%1+6%
Unity Bank$33M<0.1%2+13%
Falcon National Bank$31M<0.1%1no 2020 presence
Minnesota Lakes Bank$29M<0.1%1-26%
Gateway Bank$26M<0.1%1+49%
Woodlands National Bank$26M<0.1%1+15%
First International Bank & Trust$19M<0.1%1no 2020 presence
Star Bank$14M<0.1%1-47%
Center National Bank$13M<0.1%1-33%
First National Bank$8M<0.1%1-34%
Pine Country Bank$7M<0.1%1no 2020 presence
American Heritage National Bank$3M<0.1%1no 2020 presence
Wilmington Trust$0M0.0%1no 2020 presence
Thrivent Trust Company$0M0.0%1no 2020 presence

The 68 insured institutions with a branch presence in this county, per the FDIC Summary of Deposits, 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. “No 2020 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 53.0% of its deposits.

MeasureHennepin CountyShare of parent market
2024 GDP$155.0B49.4%
Deposits$130.4B53.0%
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.