Shelby County, Tennessee, a core county of the Memphis-Clarksdale-Forrest City, TN-MS-AR market, holds $32.0B in deposits across 33 insured institutions and 205 branches. First Horizon Bank is the largest deposit holder at 42.2% share. The top three institutions hold 61.4% of deposits, which places the county in the concentrated band. Deposits have grown 0.2% since 2020 while the branch count fell by 16. It produces $68.0B of output, ranking #62 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 221 in 2020 to 205 in 2025. Institutions: 34 to 33. Top-three share: 64.8% to 61.4%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| First Horizon Bank | $13.5B | 42.2% | -7% |
| Regions Bank | $3.7B | 11.4% | -16% |
| Pinnacle Bank | $2.5B | 7.7% | +101% |
| Bank of America, National Association | $1.8B | 5.6% | +10% |
| Independent Bank | $1.5B | 4.8% | +52% |
| Truist Bank | $1.4B | 4.2% | -38% |
| Financial Federal Bank | $809M | 2.5% | +54% |
| Paragon Bank | $640M | 2.0% | +57% |
| Cadence Bank | $635M | 2.0% | +25% |
| Simmons Bank | $576M | 1.8% | +628% |
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 organic growth; “no 2020 presence” means neither the institution nor a bank it later absorbed reported deposits in this county that year.
Part of the Memphis-Clarksdale-Forrest City market
Shelby County is one of 11 counties that make up the Memphis-Clarksdale-Forrest City, TN-MS-AR market, a Combined Statistical Area (ranked #46 of 293 U.S. markets by economic output). It produces 81.2% of the market’s output and holds 74.4% of its deposits.
| Measure | Shelby County | Share of Memphis-Clarksdale-Forrest City market |
|---|---|---|
| 2024 GDP | $68.0B | 81.2% |
| Deposits | $32.0B | 74.4% |
| Population | 910,226 | 65.8% |
View the full Memphis-Clarksdale-Forrest City market profile →
Recruiting in Shelby 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 Shelby County, on a retained basis.
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