Jefferson County, Wisconsin, a core county of the Milwaukee-Racine-Waukesha, WI market, holds $1.9B in deposits across 11 insured institutions and 25 branches. Ixonia Bank is the largest deposit holder at 20.8% share. The top three institutions hold 56.0% of deposits, which places the county in the moderately concentrated band. Deposits have grown 32.7% since 2020 while the branch count fell by 1. It produces $3.8B of output, ranking #693 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 26 in 2020 to 25 in 2025. Institutions: 12 to 11. Top-three share: 53.7% to 56.0%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Ixonia Bank | $401M | 20.8% | +30% |
| PremierBank | $355M | 18.4% | +31% |
| Bank of Lake Mills | $326M | 16.9% | +61% |
| The Greenwood's State Bank | $173M | 9.0% | +67% |
| Associated Bank, National Association | $161M | 8.4% | +49% |
| BMO Bank National Association | $145M | 7.5% | +46% |
| Badger Bank | $118M | 6.1% | +39% |
| Farmers & Merchants State Bank | $104M | 5.4% | +20% |
| Johnson Bank | $59M | 3.0% | +20% |
| Bank First, N.A. | $56M | 2.9% | +8% |
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 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 2.2% of its deposits.
| Measure | Jefferson County | Share of Milwaukee-Racine-Waukesha market |
|---|---|---|
| 2024 GDP | $3.8B | 2.9% |
| Deposits | $1.9B | 2.2% |
| 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, on a retained basis.
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