Market Intelligence

Wake County, NC

Banking market profile · FDIC Summary of Deposits (SOD), June 30, 2025
Market Intelligence › Raleigh-Durham-Cary, NC › Wake County

Wake County, North Carolina, a core county of the Raleigh-Durham-Cary, NC market, holds $98.0B in deposits across 37 insured institutions and 242 branches. First-Citizens Bank & Trust Company is the largest deposit holder at 63.7% share. The top three banks hold 79% of deposits, which places the county in the Concentrated band. Deposits have grown 206.5% since 2020 while the branch count fell by 2.0%. It produces $104.1B of output, ranking #43 of the 1,523 ranked counties by economic output.

Economic scale
2024 Real GDP
$104.1B
#43 of 1,523
Population
1,257,235
#36 of 1,523
GDP per Capita
$82,812
#117 of 1,523
Deposit market
Deposits (SOD, 6/30/25)
$98.0B
#31 of 1,523
Deposits per Capita
$77,986
#32 of 1,523
Deposits per Branch
$405M
#26 of 1,523
Competitive structure
Insured Institutions
37
#56 of 1,523
Branches per 100k Pop.
19.2
#1,057 of 1,523
Median Deposits per Institution
$177M
The median deposits booked by a single institution in the county. #403 of 1,523. A lower figure means institutions typically hold smaller deposit positions here; it reflects local deposit presence, not an institution’s overall size. See Community & Regional Bank Share for institution scale.
Community & Regional Bank Share
10.9%
of county deposits held by banks with $100M to $100B in assets. #1,498 of 1,523. A higher share points to a market where small to mid-size institutions, the kind that compete on relationships and local decision-making, hold more ground.
Top-3 Banks’ Deposit Share: Concentrated
79%
The combined deposit share of the top three banks by deposits in the county. A lower share means deposits are spread across more institutions.

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

County Deposits (SOD, 2020 to 2025)+206.5% over 5 years
$32.0B
2020
$36.0B
2021
$51.6B
2022
$78.3B
2023
$90.3B
2024
$98.0B
2025

Branches: 247 in 2020 to 242 in 2025. Institutions: 33 to 37. Top-three share: 57% to 79%.

Institutions by deposits

InstitutionDepositsShareBranches5‑yr
deposits
First-Citizens Bank & Trust Company$62.5B63.7%19+1,629%
Wells Fargo Bank$8.3B8.4%300%
Truist Bank$6.8B7.0%28+8%
Bank of America$4.1B4.2%19+8%
PNC Bank$3.6B3.7%16+34%
TowneBank$1.6B1.6%4+41%
First Horizon Bank$1.4B1.5%11+18%
The Fidelity Bank$1.3B1.3%13+57%
North State Bank$1.1B1.1%6+20%
Fifth Third Bank$1.0B1.1%24+66%
Pinnacle Bank$928M0.9%6+91%
JPMorgan Chase Bank$824M0.8%14no 2020 presence
Dogwood State Bank$814M0.8%1+477%
First Carolina Bank$810M0.8%2+303%
First National Bank of Pennsylvania$804M0.8%10+30%
United Community Bank$398M0.4%4+70%
First Bank$392M0.4%4+173%
Southern First Bank$221M0.2%1+209%
Regions Bank$177M0.2%1+22%
HomeTrust Bank$169M0.2%2+139%
SouthState Bank$119M0.1%2+305%
KS Bank, Inc.$97M0.1%2+17%
Piedmont Federal Savings Bank$94M0.1%1no 2020 presence
Southern Bank and Trust Company$93M0.1%1+222%
United Bank$81M0.1%1+80%
Atlantic Union Bank$57M0.1%1+36%
Mechanics & Farmers Bank$52M0.1%2+27%
First Federal Bank$39M<0.1%1+72%
Providence Bank$35M<0.1%1no 2020 presence
Carter Bank & Trust$32M<0.1%1no 2020 presence
Woodforest National Bank$27M<0.1%6+30%
Farmers & Merchants Bank$24M<0.1%1no 2020 presence
Benchmark Community Bank$19M<0.1%1+236%
Peoples Bank$17M<0.1%1-4%
TD Bank$14M<0.1%1no 2020 presence
Capital Bank$9M<0.1%1no 2020 presence
FSNB$4M<0.1%3-18%

The 37 insured institutions with a branch presence in this county, per the FDIC Summary of Deposits, 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. “No 2020 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 Raleigh-Durham-Cary market

Wake County is one of 10 counties that make up the Raleigh-Durham-Cary, NC market, a Combined Statistical Area (ranked #29 of 293 U.S. markets by economic output). It produces 57.4% of the market’s output and holds 80.4% of its deposits.

MeasureWake CountyShare of parent market
2024 GDP$104.1B57.4%
Deposits$98.0B80.4%
Population1,257,23550.6%

View the full Raleigh-Durham-Cary market profile →

Recruiting in Wake 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 Wake County.

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Other counties in the Raleigh-Durham-Cary market

All 293 markets and the 1,523 counties with a branch within a CSA or MSA are covered in the Market Intelligence resource. See the methodology for how each figure is built and when to expect updates, or the disclaimer for how this data should, and should not, be read.