Wayne County, Indiana, a core county of the Richmond-Connersville, IN market, holds $3.0B in deposits across 6 insured institutions and 19 branches. Merchants Bank of Indiana is the largest deposit holder at 33.9% share. The top three institutions hold 83.8% of deposits, which places the county in the concentrated band. Deposits have fallen 26.3% since 2020 while the branch count fell by 3. It produces $3.0B of output, ranking #775 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 22 in 2020 to 19 in 2025. Institutions: 7 to 6. Top-three share: 89.6% to 83.8%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Merchants Bank of Indiana | $1.0B | 33.9% | -63% |
| First Bank Richmond | $787M | 25.9% | +38% |
| U.S. Bank National Association | $732M | 24.1% | +100% |
| Wayne Bank and Trust Co. | $216M | 7.1% | +31% |
| JPMorgan Chase Bank, National Association | $182M | 6.0% | +8% |
| First Financial Bank | $93M | 3.1% | +42% |
The 6 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 Richmond-Connersville market
Wayne County is one of 2 counties that make up the Richmond-Connersville, IN market, a Combined Statistical Area (ranked #283 of 293 U.S. markets by economic output). It produces 84.4% of the market’s output and holds 86.3% of its deposits.
| Measure | Wayne County | Share of Richmond-Connersville market |
|---|---|---|
| 2024 GDP | $3.0B | 84.4% |
| Deposits | $3.0B | 86.3% |
| Population | 66,169 | 73.8% |
See the Richmond-Connersville market in Market Intelligence →
Recruiting in Wayne 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 Wayne County, on a retained basis.
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