Thurston County, Washington, a core county of the Seattle-Tacoma, WA market, holds $5.2B in deposits across 15 insured institutions and 47 branches. Heritage Bank is the largest deposit holder at 15.2% share. The top three institutions hold 40.5% of deposits, which places the county in the fragmented band. Deposits have grown 0.9% since 2020 while the branch count fell by 6. It produces $16.9B of output, ranking #242 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 53 in 2020 to 47 in 2025. Institutions: 17 to 15. Top-three share: 40.3% to 40.5%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Heritage Bank | $785M | 15.2% | +20% |
| Olympia Federal Savings and Loan Association | $670M | 12.9% | +18% |
| Bank of America, National Association | $642M | 12.4% | 0% |
| Timberland Bank | $519M | 10.0% | +22% |
| JPMorgan Chase Bank, National Association | $479M | 9.3% | +39% |
| KeyBank National Association | $432M | 8.3% | +3% |
| Umpqua Bank | $408M | 7.9% | -55% |
| Wells Fargo Bank, National Association | $361M | 7.0% | +6% |
| U.S. Bank National Association | $256M | 4.9% | +31% |
| Commencement Bank | $174M | 3.4% | 0% |
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 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 3.3% of its deposits.
| Measure | Thurston County | Share of Seattle-Tacoma market |
|---|---|---|
| 2024 GDP | $16.9B | 3.0% |
| Deposits | $5.2B | 3.3% |
| 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, on a retained basis.
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