Skagit County, Washington, a core county of the Seattle-Tacoma, WA market, holds $3.2B in deposits across 12 insured institutions and 30 branches. Banner Bank is the largest deposit holder at 25.4% share. The top three banks hold 49% of deposits, which places the county in the Moderate band. Deposits have fallen 7.8% since 2021 while the branch count fell by 21.1%. It produced $7.2B of real gross domestic product in 2024, ranking #461 of the 1,523 ranked counties 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: 38 in 2021 to 30 in 2026. Institutions: 14 to 12. Top-three share: 47% to 49%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Banner Bank | $813M | 25.4% | -5% |
| WaFd Bank | $415M | 13.0% | +13% |
| Peoples Bank | $345M | 10.8% | -12% |
| Heritage Bank | $336M | 10.5% | +6% |
| Bank of America | $306M | 9.6% | 0% |
| Wells Fargo Bank | $276M | 8.6% | -5% |
| U.S. Bank | $254M | 7.9% | -1% |
| JPMorgan Chase Bank | $183M | 5.7% | +26% |
| KeyBank | $108M | 3.4% | -17% |
| Mountain Pacific Bank | $61M | 1.9% | +57% |
| Bank of the Pacific | $59M | 1.8% | +1% |
| Columbia Bank | $45M | 1.4% | -39% |
The 12 insured institutions with a branch presence in this county, per the FDIC Summary of Deposits, June 30, 2026. Five-year change compares the same institution’s county deposits in 2021 and 2026. 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. “No 2021 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 Seattle-Tacoma market
Skagit County is one of 9 counties that make up the Seattle-Tacoma, WA market, a Combined Statistical Area (ranked #9 of 293 U.S. markets by economic output). It produces 1.3% of the market’s output and holds 2.0% of its deposits.
| Measure | Skagit County | Share of parent market |
|---|---|---|
| 2024 GDP | $7.2B | 1.3% |
| Deposits | $3.2B | 2.0% |
| Population | 132,975 | 2.6% |
View the full Seattle-Tacoma market profile →
Recruiting in Skagit 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 Skagit County.
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