Mower County, Minnesota, a core county of the Rochester-Austin-Winona, MN market, holds $795M in deposits across 11 insured institutions and 16 branches. United Farmers State Bank is the largest deposit holder at 21.5% share. The top three institutions hold 50.7% of deposits, which places the county in the moderately concentrated band. Deposits have grown 12.1% since 2020 while the branch count fell by 1. It produces $2.4B of output, ranking #858 of the 1,523 counties within a CSA or MSA 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: 17 in 2020 to 16 in 2025. Institutions: 11 to 11. Top-three share: 49.6% to 50.7%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| United Farmers State Bank | $171M | 21.5% | +35% |
| Wells Fargo Bank | $119M | 14.9% | -5% |
| U.S. Bank | $113M | 14.2% | +13% |
| First Farmers & Merchants State Bank | $80M | 10.0% | +15% |
| Alerus Financial | $65M | 8.2% | no 2020 presence |
| Old National Bank | $52M | 6.6% | +22% |
| First Farmers & Merchants State Bank of Grand Meadow | $51M | 6.5% | +21% |
| Sterling State Bank | $49M | 6.2% | -11% |
| First State Bank Minnesota | $47M | 6.0% | +19% |
| Manufacturers Bank & Trust Company | $24M | 3.0% | no 2020 presence |
The 10 largest of 11 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 organic growth; “no 2020 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 Rochester-Austin-Winona market
Mower County is one of 6 counties that make up the Rochester-Austin-Winona, MN market, a Combined Statistical Area (ranked #136 of 293 U.S. markets by economic output). It produces 12.0% of the market’s output and holds 8.2% of its deposits.
| Measure | Mower County | Share of parent market |
|---|---|---|
| 2024 GDP | $2.4B | 12.0% |
| Deposits | $795M | 8.2% |
| Population | 40,971 | 12.7% |
View the full Rochester-Austin-Winona market profile →
Recruiting in Mower 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 Mower County, on a retained basis.
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