Washington County, Minnesota, a core county of the Minneapolis-St. Paul, MN-WI market, holds $7.1B in deposits across 24 insured institutions and 63 branches. Wells Fargo Bank is the largest deposit holder at 21.3% share. The top three banks hold 47% of deposits, which places the county in the Moderate band. Deposits have grown 15.4% since 2021 while the branch count rose by 3.3%. It produced $13.1B of real gross domestic product in 2024, ranking #300 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: 61 in 2021 to 63 in 2026. Institutions: 25 to 24. Top-three share: 52% to 47%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Wells Fargo Bank | $1.5B | 21.3% | -5% |
| U.S. Bank | $1.3B | 18.3% | +14% |
| Platinum Bank | $531M | 7.5% | +99% |
| Lake Elmo Bank | $463M | 6.5% | +1% |
| The Huntington National Bank | $460M | 6.5% | +35% |
| First State Bank and Trust | $416M | 5.9% | +39% |
| First Resource Bank | $343M | 4.8% | +118% |
| Old National Bank | $336M | 4.7% | +23% |
| Nicolet National Bank | $313M | 4.4% | +14% |
| Associated Bank | $183M | 2.6% | -2% |
| Bell Bank | $178M | 2.5% | -15% |
| Bank of America | $166M | 2.3% | -5% |
| Frandsen Bank & Trust | $154M | 2.2% | +82% |
| Security State Bank of Marine | $148M | 2.1% | +15% |
| JPMorgan Chase Bank | $103M | 1.5% | no 2021 presence |
| BMO Bank | $98M | 1.4% | +21% |
| Premier Bank | $75M | 1.1% | +94% |
| Alerus Financial | $72M | 1.0% | -59% |
| Merchants Bank | $69M | 1.0% | +1% |
| North American Banking Company | $64M | 0.9% | -32% |
| Highland Bank | $43M | 0.6% | +24% |
| CorTrust Bank | $32M | 0.4% | -16% |
| CCFBank | $24M | 0.3% | -8% |
| Bridgewater Bank | $7M | 0.1% | no 2021 presence |
The 24 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 Minneapolis-St. Paul market
Washington County is one of 21 counties that make up the Minneapolis-St. Paul, MN-WI market, a Combined Statistical Area (ranked #16 of 293 U.S. markets by economic output). It produces 4.2% of the market’s output and holds 2.7% of its deposits.
| Measure | Washington County | Share of parent market |
|---|---|---|
| 2024 GDP | $13.1B | 4.2% |
| Deposits | $7.1B | 2.7% |
| Population | 286,895 | 6.8% |
View the full Minneapolis-St. Paul market profile →
Recruiting in Washington County
Deposits are split among a moderate 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 Washington County.
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