Providence County, Rhode Island, a core county of the Boston-Worcester-Providence, MA-RI-NH market, holds $29.1B in deposits across 16 insured institutions and 129 branches. Citizens Bank, National Association is the largest deposit holder at 47.0% share. The top three institutions hold 79.3% of deposits, which places the county in the concentrated band. Deposits have grown 18.1% since 2020 while the branch count fell by 5. It produces $37.0B of output, ranking #127 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 134 in 2020 to 129 in 2025. Institutions: 16 to 16. Top-three share: 82.5% to 79.3%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Citizens Bank, National Association | $13.7B | 47.0% | +21% |
| Bank of America, National Association | $7.4B | 25.5% | +5% |
| Santander Bank, N.A. | $2.0B | 6.7% | +1% |
| Bank Rhode Island | $1.8B | 6.2% | +11% |
| The Washington Trust Company, of Westerly | $1.2B | 4.1% | +30% |
| TD Bank, National Association | $1.1B | 3.7% | +128% |
| HarborOne Bank | $437M | 1.5% | +41% |
| BankNewport | $316M | 1.1% | +125% |
| Webster Bank, National Association | $283M | 1.0% | -6% |
| JPMorgan Chase Bank, National Association | $273M | 0.9% | +491% |
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 Boston-Worcester-Providence market
Providence County is one of 18 counties that make up the Boston-Worcester-Providence, MA-RI-NH market, a Combined Statistical Area (ranked #6 of 293 U.S. markets by economic output). It produces 5.1% of the market’s output and holds 4.4% of its deposits.
| Measure | Providence County | Share of Boston-Worcester-Providence market |
|---|---|---|
| 2024 GDP | $37.0B | 5.1% |
| Deposits | $29.1B | 4.4% |
| Population | 678,179 | 8.0% |
View the full Boston-Worcester-Providence market profile →
Recruiting in Providence 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 Providence County, on a retained basis.
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