Henrico County, Virginia, a core county of the Richmond, VA market, holds $9.0B in deposits across 19 insured institutions and 73 branches. Wells Fargo Bank, National Association is the largest deposit holder at 25.0% share. The top three institutions hold 57.1% of deposits, which places the county in the moderately concentrated band. Deposits have fallen 88.7% since 2020 while the branch count fell by 12. It produces $29.8B of output, ranking #159 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 85 in 2020 to 73 in 2025. Institutions: 20 to 19. Top-three share: 95.4% to 57.1%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Wells Fargo Bank, National Association | $2.3B | 25.0% | +14% |
| Truist Bank | $1.8B | 19.4% | -47% |
| Bank of America, National Association | $1.2B | 12.7% | +8% |
| Atlantic Union Bank | $811M | 9.0% | -4% |
| TowneBank | $657M | 7.3% | +11% |
| Blue Ridge Bank, National Association | $602M | 6.7% | no 2020 presence |
| Primis Bank | $512M | 5.7% | +701% |
| Citizens and Farmers Bank | $272M | 3.0% | +29% |
| JPMorgan Chase Bank, National Association | $214M | 2.4% | no 2020 presence |
| First-Citizens Bank & Trust Company | $203M | 2.2% | +81% |
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 Richmond market
Henrico County is one of 17 counties that make up the Richmond, VA market, a Metropolitan Statistical Area (ranked #40 of 293 U.S. markets by economic output). It produces 30.6% of the market’s output and holds 13.4% of its deposits.
| Measure | Henrico County | Share of Richmond market |
|---|---|---|
| 2024 GDP | $29.8B | 30.6% |
| Deposits | $9.0B | 13.4% |
| Population | 342,775 | 24.7% |
View the full Richmond market profile →
Recruiting in Henrico County
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 Henrico County, on a retained basis.
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