St. Joseph County, Indiana, a core county of the South Bend-Elkhart-Mishawaka, IN-MI market, holds $5.8B in deposits across 15 insured institutions and 58 branches. 1st Source Bank is the largest deposit holder at 54.5% share. The top three banks hold 71% of deposits, which places the county in the Concentrated band. Deposits have grown 11.1% since 2021 while the branch count fell by 7.9%. It produced $15.4B of real gross domestic product in 2024, ranking #264 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: 63 in 2021 to 58 in 2026. Institutions: 14 to 15. Top-three share: 71% to 71%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| 1st Source Bank | $3.2B | 54.5% | +16% |
| PNC Bank | $490M | 8.5% | +8% |
| Lake City Bank | $477M | 8.2% | -6% |
| JPMorgan Chase Bank | $445M | 7.7% | +22% |
| KeyBank | $265M | 4.6% | +8% |
| Centier Bank | $209M | 3.6% | +192% |
| Fifth Third Bank | $191M | 3.3% | -16% |
| Northwest Bank | $170M | 2.9% | -34% |
| Old National Bank | $165M | 2.9% | -3% |
| Flagstar Bank | $124M | 2.1% | +8% |
| First State Bank of Middlebury | $32M | 0.5% | +43% |
| First Federal Savings Bank | $30M | 0.5% | +26% |
| Horizon Bank | $29M | 0.5% | +118% |
| Woodforest National Bank | $4M | 0.1% | -21% |
| First Merchants Bank | $0M | 0.0% | no 2021 presence |
The 15 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 South Bend-Elkhart-Mishawaka market
St. Joseph County is one of 6 counties that make up the South Bend-Elkhart-Mishawaka, IN-MI market, a Combined Statistical Area (ranked #73 of 293 U.S. markets by economic output). It produces 30.7% of the market’s output and holds 34.9% of its deposits.
| Measure | St. Joseph County | Share of parent market |
|---|---|---|
| 2024 GDP | $15.4B | 30.7% |
| Deposits | $5.8B | 34.9% |
| Population | 272,861 | 33.6% |
View the full South Bend-Elkhart-Mishawaka market profile →
Recruiting in St. Joseph 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 St. Joseph County.
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