Montgomery County, Virginia, a core county of the Blacksburg-Christiansburg-Radford, VA market, holds $3.0B in deposits across 13 insured institutions and 29 branches. Atlantic Union Bank is the largest deposit holder at 23.9% share. The top three institutions hold 68.7% of deposits, which places the county in the concentrated band. Deposits have grown 21.8% since 2020 while the branch count fell by 4. It produces $5.2B of output, ranking #580 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 33 in 2020 to 29 in 2025. Institutions: 12 to 13. Top-three share: 66.0% to 68.7%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Atlantic Union Bank | $716M | 23.9% | +30% |
| Wells Fargo Bank, National Association | $677M | 22.6% | +30% |
| The National Bank of Blacksburg | $665M | 22.2% | +21% |
| The First Bank and Trust Company | $275M | 9.2% | +55% |
| Truist Bank | $217M | 7.3% | +5% |
| Locus Bank, Inc. | $148M | 5.0% | +13% |
| Carter Bank & Trust | $138M | 4.6% | +17% |
| First Community Bank | $51M | 1.7% | +11% |
| SKYLINE NATIONAL BANK | $48M | 1.6% | +290% |
| First-Citizens Bank & Trust Company | $29M | 1.0% | +6% |
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 Blacksburg-Christiansburg-Radford market
Montgomery County is one of 5 counties that make up the Blacksburg-Christiansburg-Radford, VA market, a Metropolitan Statistical Area (ranked #209 of 293 U.S. markets by economic output). It produces 59.2% of the market’s output and holds 66.7% of its deposits.
| Measure | Montgomery County | Share of Blacksburg-Christiansburg-Radford market |
|---|---|---|
| 2024 GDP | $5.2B | 59.2% |
| Deposits | $3.0B | 66.7% |
| Population | 98,434 | 54.2% |
View the full Blacksburg-Christiansburg-Radford market profile →
Recruiting in Montgomery 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 Montgomery County, on a retained basis.
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