Thurston County, Washington, a core county of the Seattle-Tacoma, WA market, holds $5.3B in deposits across 15 insured institutions and 47 branches. Heritage Bank is the largest deposit holder at 13.1% share. The top three banks hold 37% of deposits, which places the county in the Fragmented band. Deposits have fallen 6.3% since 2021 while the branch count fell by 7.8%. It produced $16.9B of real gross domestic product in 2024, ranking #242 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: 51 in 2021 to 47 in 2026. Institutions: 17 to 15. Top-three share: 39% to 37%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Heritage Bank | $700M | 13.1% | +13% |
| Olympia Federal Savings and Loan Association | $652M | 12.2% | +5% |
| Bank of America | $622M | 11.7% | -16% |
| Timberland Bank | $572M | 10.7% | +16% |
| Wells Fargo Bank | $515M | 9.6% | +41% |
| JPMorgan Chase Bank | $504M | 9.4% | +12% |
| KeyBank | $426M | 8.0% | -12% |
| Columbia Bank | $423M | 7.9% | -58% |
| U.S. Bank | $320M | 6.0% | +47% |
| Commencement Bank | $200M | 3.7% | -1% |
| First-Citizens Bank & Trust Company | $154M | 2.9% | -10% |
| 1st Security Bank of Washington | $121M | 2.3% | +34% |
| WaFd Bank | $65M | 1.2% | -4% |
| Mechanics Bank | $61M | 1.1% | -6% |
| Bank of the Pacific | $1M | <0.1% | 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 Seattle-Tacoma market
Thurston 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 3.0% of the market’s output and holds 3.4% of its deposits.
| Measure | Thurston County | Share of parent market |
|---|---|---|
| 2024 GDP | $16.9B | 3.0% |
| Deposits | $5.3B | 3.4% |
| Population | 304,261 | 5.9% |
View the full Seattle-Tacoma market profile →
Recruiting in Thurston County
Deposits are spread across a competitive field of institutions, so the bankers worth recruiting are dispersed across more of them. 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 Thurston County.
See how we help banks recruit commercial banking talent