McLeod County, Minnesota, a core county of the Minneapolis-St. Paul, MN-WI market, holds $1.3B in deposits across 8 insured institutions and 18 branches. Security Bank & Trust Company is the largest deposit holder at 34.8% share. The top three institutions hold 73.1% of deposits, which places the county in the concentrated band. Deposits have grown 23.6% since 2020. It produces $1.8B of output, ranking #968 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 18 in 2020 to 18 in 2025. Institutions: 8 to 8. Top-three share: 69.0% to 73.1%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Security Bank & Trust Company | $447M | 34.8% | +28% |
| Citizens Bank & Trust Co. | $315M | 24.5% | +36% |
| MidCountry Bank | $177M | 13.8% | +31% |
| Wells Fargo Bank, National Association | $132M | 10.2% | +6% |
| CorTrust Bank National Association | $98M | 7.6% | -5% |
| First Community Bank | $78M | 6.0% | +26% |
| Home State Bank | $26M | 2.0% | 0% |
| CenBank | $13M | 1.0% | +56% |
The 8 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 Minneapolis-St. Paul market
McLeod 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 0.6% of the market’s output and holds 0.5% of its deposits.
| Measure | McLeod County | Share of Minneapolis-St. Paul market |
|---|---|---|
| 2024 GDP | $1.8B | 0.6% |
| Deposits | $1.3B | 0.5% |
| Population | 36,631 | 0.9% |
View the full Minneapolis-St. Paul market profile →
Recruiting in McLeod 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 McLeod County, on a retained basis.
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