San Mateo County, California, a core county of the San Jose-San Francisco-Oakland, CA market, holds $37.2B in deposits across 29 insured institutions and 141 branches. Wells Fargo Bank, National Association is the largest deposit holder at 24.0% share. The top three institutions hold 67.5% of deposits, which places the county in the concentrated band. Deposits have fallen 25.4% since 2020 while the branch count fell by 23. It produces $196.8B of output, ranking #15 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 164 in 2020 to 141 in 2025. Institutions: 30 to 29. Top-three share: 51.3% to 67.5%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Wells Fargo Bank, National Association | $8.9B | 24.0% | -1% |
| JPMorgan Chase Bank, National Association | $8.8B | 23.6% | -33% |
| Bank of America, National Association | $7.4B | 19.9% | -15% |
| Citibank, National Association | $3.0B | 8.0% | +12% |
| U.S. Bank National Association | $2.3B | 6.1% | -5% |
| Valley National Bank | $1.5B | 4.0% | no 2020 presence |
| East West Bank | $1.1B | 2.9% | +49% |
| Tri Counties Bank | $931M | 2.5% | +6% |
| BMO Bank National Association | $507M | 1.4% | -37% |
| PNC Bank, National Association | $404M | 1.1% | +127% |
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 San Jose-San Francisco-Oakland market
San Mateo County is one of 13 counties that make up the San Jose-San Francisco-Oakland, CA market, a Combined Statistical Area (ranked #3 of 293 U.S. markets by economic output). It produces 16.2% of the market’s output and holds 5.5% of its deposits.
| Measure | San Mateo County | Share of San Jose-San Francisco-Oakland market |
|---|---|---|
| 2024 GDP | $196.8B | 16.2% |
| Deposits | $37.2B | 5.5% |
| Population | 743,568 | 8.1% |
View the full San Jose-San Francisco-Oakland market profile →
Recruiting in San Mateo 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 San Mateo County, on a retained basis.
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