Jefferson County, Wisconsin, a core county of the Milwaukee-Racine-Waukesha, WI market, holds $2.3B in deposits across 11 insured institutions and 23 branches. Ixonia Bank is the largest deposit holder at 22.8% share. The top three banks hold 56% of deposits, which places the county in the Moderate band. Deposits have grown 42.5% since 2021 while the branch count fell by 8.0%. It produced $3.8B of real gross domestic product in 2024, ranking #693 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: 25 in 2021 to 23 in 2026. Institutions: 11 to 11. Top-three share: 53% to 56%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Ixonia Bank | $534M | 22.8% | +56% |
| Bank of Lake Mills | $432M | 18.4% | +99% |
| PremierBank | $347M | 14.8% | +10% |
| Bank Cmg | $345M | 14.7% | +166% |
| Associated Bank | $183M | 7.8% | +41% |
| BMO Bank | $130M | 5.5% | -12% |
| Badger Bank | $113M | 4.8% | +3% |
| Farmers & Merchants State Bank | $106M | 4.5% | +11% |
| Bank First | $61M | 2.6% | +3% |
| Johnson Bank | $54M | 2.3% | -7% |
| First Citizens State Bank | $38M | 1.6% | -2% |
The 11 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 Milwaukee-Racine-Waukesha market
Jefferson County is one of 8 counties that make up the Milwaukee-Racine-Waukesha, WI market, a Combined Statistical Area (ranked #37 of 293 U.S. markets by economic output). It produces 2.9% of the market’s output and holds 2.6% of its deposits.
| Measure | Jefferson County | Share of parent market |
|---|---|---|
| 2024 GDP | $3.8B | 2.9% |
| Deposits | $2.3B | 2.6% |
| Population | 86,505 | 4.2% |
View the full Milwaukee-Racine-Waukesha market profile →
Recruiting in Jefferson 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 Jefferson County.
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