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 institutions hold 79.1% of deposits, which places the county in the concentrated band. Deposits have grown 206.5% since 2020 while the branch count fell by 5. It produces $104.1B of output, ranking #43 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 247 in 2020 to 242 in 2025. Institutions: 33 to 37. Top-three share: 57.4% to 79.1%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| First-Citizens Bank & Trust Company | $62.5B | 63.7% | +1,629% |
| Wells Fargo Bank, National Association | $8.3B | 8.4% | 0% |
| Truist Bank | $6.8B | 7.0% | +8% |
| Bank of America, National Association | $4.1B | 4.2% | +8% |
| PNC Bank, National Association | $3.6B | 3.7% | +34% |
| TowneBank | $1.6B | 1.6% | +41% |
| First Horizon Bank | $1.4B | 1.5% | +18% |
| The Fidelity Bank | $1.3B | 1.3% | +57% |
| North State Bank | $1.1B | 1.1% | +20% |
| Fifth Third Bank, National Association | $1.0B | 1.1% | +66% |
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 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.
| Measure | Wake County | Share of Raleigh-Durham-Cary market |
|---|---|---|
| 2024 GDP | $104.1B | 57.4% |
| Deposits | $98.0B | 80.4% |
| Population | 1,257,235 | 50.6% |
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, on a retained basis.
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