Market Intelligence › Milwaukee-Racine-Waukesha, WI › Waukesha County

Waukesha County, Wisconsin, a core county of the Milwaukee-Racine-Waukesha, WI market, holds $18.1B in deposits across 34 insured institutions and 148 branches. BMO Bank National Association is the largest deposit holder at 13.0% share. The top three banks hold 34% of deposits, which places the county in the Fragmented band. Deposits have grown 19.0% since 2020 while the branch count fell by 9.2%. It produces $32.9B of output, ranking #144 of the 1,523 ranked counties by economic output.

Economic scale

2024 Real GDP

$32.9B

#144 of 1,523

Population

417,210

#185 of 1,523

GDP per Capita

$78,847

#138 of 1,523

Deposit market

Deposits (SOD, 6/30/25)

$18.1B

#130 of 1,523

Deposits per Capita

$43,397

#141 of 1,523

Deposits per Branch

$122M

#358 of 1,523

Competitive structure

Insured Institutions

#67 of 1,523

Branches per 100k Pop.

35.5

#314 of 1,523

Median Deposits per Institution

$275M

The median deposits booked by a single institution in the county. #190 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

62.1%

of county deposits held by banks with $100M to $100B in assets. #941 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: Fragmented

34%

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)+19.0% over 5 years

$15.2B

2020

$16.5B

2021

$17.3B

2022

$17.0B

2023

$17.8B

2024

$18.1B

2025

Branches: 163 in 2020 to 148 in 2025. Institutions: 34 to 34. Top-three share: 36% to 34%.

Institutions by deposits

Institution	Deposits	Share	Branches	5‑yr deposits
BMO Bank	$2.4B	13.0%	14	-5%
Town Bank	$1.9B	10.4%	6	+28%
JPMorgan Chase Bank	$1.8B	10.2%	10	+18%
Associated Bank	$1.6B	9.0%	13	+30%
Bank Five Nine	$1.5B	8.4%	8	+117%
U.S. Bank	$1.5B	8.3%	13	+20%
Waukesha State Bank	$1.3B	7.0%	15	+27%
Citizens Bank	$849M	4.7%	9	+21%
North Shore Bank	$574M	3.2%	7	+15%
First Business Bank	$467M	2.6%	1	+51%
PNC Bank	$414M	2.3%	6	+11%
Great Midwest Bank, S.S.B.	$390M	2.2%	2	+1%
WaterStone Bank, SSB	$362M	2.0%	4	+15%
Wells Fargo Bank	$349M	1.9%	3	-13%
Old National Bank	$348M	1.9%	1	-6%
First-Citizens Bank & Trust Company	$322M	1.8%	3	+81%
Spring Bank	$317M	1.7%	1	+17%
Tri City National Bank	$234M	1.3%	4	+21%
Westbury Bank	$208M	1.1%	2	-14%
CIBM Bank	$158M	0.9%	2	+45%
National Exchange Bank and Trust	$157M	0.9%	1	-9%
Ixonia Bank	$155M	0.9%	3	+73%
Johnson Bank	$132M	0.7%	4	+46%
First Federal Bank of Wisconsin	$126M	0.7%	3	-19%
PyraMax Bank, FSB	$120M	0.7%	2	+68%
Horicon Bank	$87M	0.5%	2	no 2020 presence
The Huntington National Bank	$87M	0.5%	1	-36%
Peoples State Bank	$75M	0.4%	1	no 2020 presence
Collins State Bank	$60M	0.3%	2	no 2020 presence
State Bank of Chilton	$42M	0.2%	1	no 2020 presence
The Equitable Bank, S.S.B.	$33M	0.2%	1	+55%
Alerus Financial	$13M	0.1%	1	no 2020 presence
The Greenwood's State Bank	$13M	0.1%	1	+75%
Marathon Bank	$10M	0.1%	1	no 2020 presence

The 34 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 Milwaukee-Racine-Waukesha market

Waukesha County is one of 8 counties that make up the Milwaukee-Racine-Waukesha, WI market, a Combined Statistical Area (ranked #37 of 293 U.S. markets by economic output). It produces 25.4% of the market’s output and holds 20.6% of its deposits.

Measure	Waukesha County	Share of parent market
2024 GDP	$32.9B	25.4%
Deposits	$18.1B	20.6%
Population	417,210	20.3%

View the full Milwaukee-Racine-Waukesha market profile →

Recruiting in Waukesha 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 Waukesha County.

See how we help banks recruit commercial banking talent

Deposit trend

Institutions by deposits

Part of the Milwaukee-Racine-Waukesha market

Recruiting in Waukesha County

Other counties in the Milwaukee-Racine-Waukesha market