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 56.9% share. The top three institutions hold 71.8% of deposits, which places the county in the concentrated band. Deposits have grown 12.4% since 2020 while the branch count fell by 9. It produces $15.4B of output, ranking #264 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 67 in 2020 to 58 in 2025. Institutions: 14 to 15. Top-three share: 71.7% to 71.8%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| 1st Source Bank | $3.3B | 56.9% | +24% |
| Lake City Bank | $439M | 7.6% | -1% |
| JPMorgan Chase Bank, National Association | $424M | 7.3% | +45% |
| PNC Bank, National Association | $386M | 6.7% | +1% |
| Old National Bank | $268M | 4.6% | +90% |
| KeyBank National Association | $227M | 3.9% | -62% |
| Fifth Third Bank, National Association | $200M | 3.5% | -10% |
| Centier Bank | $179M | 3.1% | +208% |
| Northwest Bank | $163M | 2.8% | -16% |
| Flagstar Bank, National Association | $122M | 2.1% | +16% |
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 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 35.4% of its deposits.
| Measure | St. Joseph County | Share of South Bend-Elkhart-Mishawaka market |
|---|---|---|
| 2024 GDP | $15.4B | 30.7% |
| Deposits | $5.8B | 35.4% |
| 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, on a retained basis.
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