Spencer County, Kentucky, a county in the Louisville/Jefferson County--Elizabethtown, KY-IN market, holds $172M in deposits across 2 insured institutions and 3 branches. The Peoples Bank is the largest deposit holder at 68.8% share. The top three institutions hold 100.0% of deposits, which places the county in the concentrated band. Deposits have grown 19.8% since 2020. It produces $343M of output, ranking #1,421 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 3 in 2020 to 3 in 2025. Institutions: 2 to 2. Top-three share: 100.0% to 100.0%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| The Peoples Bank | $118M | 68.8% | +19% |
| German American Bank | $54M | 31.2% | no 2020 presence |
The 2 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 Louisville/Jefferson County--Elizabethtown market
Spencer County is one of 14 counties that make up the Louisville/Jefferson County--Elizabethtown, KY-IN market, a Combined Statistical Area (ranked #41 of 293 U.S. markets by economic output). It produces 0.4% of the market’s output and holds 0.4% of its deposits.
| Measure | Spencer County | Share of Louisville/Jefferson County--Elizabethtown market |
|---|---|---|
| 2024 GDP | $343M | 0.4% |
| Deposits | $172M | 0.4% |
| Population | 20,998 | 1.4% |
View the full Louisville/Jefferson County--Elizabethtown market profile →
Recruiting in Spencer 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 Spencer County, on a retained basis.
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