Market Intelligence › New York-Newark, NY-NJ-CT-PA › Westchester County

Westchester County, New York, a core county of the New York-Newark, NY-NJ-CT-PA market, holds $273.1B in deposits across 31 insured institutions and 249 branches. Morgan Stanley Private Bank, National Association is the largest deposit holder at 77.8% share. The top three banks hold 88% of deposits, which places the county in the Concentrated band. Deposits have grown 79.1% since 2020 while the branch count fell by 15.3%. It produces $93.3B of output, ranking #50 of the 1,523 ranked counties by economic output.

Economic scale

2024 Real GDP

$93.3B

#50 of 1,523

Population

1,015,743

#50 of 1,523

GDP per Capita

$91,878

#72 of 1,523

Deposit market

Deposits (SOD, 6/30/25)

$273.1B

#13 of 1,523

Deposits per Capita

$268,880

#9 of 1,523

Deposits per Branch

$1.1B

#11 of 1,523

Competitive structure

Insured Institutions

#88 of 1,523

Branches per 100k Pop.

24.5

#742 of 1,523

Median Deposits per Institution

$838M

The median deposits booked by a single institution in the county. #10 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

7.9%

of county deposits held by banks with $100M to $100B in assets. #1,505 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

88%

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)+79.1% over 5 years

$152.5B

2020

$173.2B

2021

$249.0B

2022

$239.6B

2023

$250.7B

2024

$273.1B

2025

Branches: 294 in 2020 to 249 in 2025. Institutions: 34 to 31. Top-three share: 77% to 88%.

A note on this trend. Morgan Stanley Private Bank booked $212.4 billion at a single office in this county in 2025, a headquarters or online-bank booking, not local retail deposits. That balance was not here in 2020 but appeared by 2025, so the 79.1% increase shown here mainly reflects that reclassification rather than local market activity. Setting such headquarters-booked balances aside, deposits were about $56.3 billion in 2020 and $50.3 billion in 2025. Deposits are recorded where a branch reports them, which can differ from where customers are.

Institutions by deposits

Institution	Deposits	Share	Branches	5‑yr deposits
Morgan Stanley Private Bank	$212.4B	77.8%	1	+126%
JPMorgan Chase Bank	$17.0B	6.2%	63	+6%
Customers Bank	$10.3B	3.8%	1	+347%
Citibank	$6.4B	2.3%	20	-5%
Wells Fargo Bank	$4.6B	1.7%	24	+1%
Emigrant Bank	$3.6B	1.3%	4	no 2020 presence
Bank of America	$3.2B	1.2%	16	-13%
TD Bank	$2.9B	1.1%	12	-13%
Citizens Bank	$1.7B	0.6%	8	+101%
Apple Bank	$1.4B	0.5%	6	+13%
Manufacturers and Traders Trust Company	$1.3B	0.5%	17	-33%
Flagstar Bank	$1.0B	0.4%	6	-63%
Valley National Bank	$907M	0.3%	7	no 2020 presence
Webster Bank	$902M	0.3%	10	-78%
Orange Bank & Trust Company	$893M	0.3%	6	+48%
HSBC Bank USA	$838M	0.3%	1	-58%
PCSB Bank	$823M	0.3%	9	+30%
Capital One	$634M	0.2%	3	-54%
KeyBank	$516M	0.2%	9	-32%
Tompkins Community Bank	$488M	0.2%	5	no 2020 presence
NorthEast Community Bank	$466M	0.2%	1	+164%
TrustCo Bank	$193M	0.1%	9	-4%
Ridgewood Savings Bank	$191M	0.1%	2	-1%
ConnectOne Bank	$121M	<0.1%	2	+36%
The First Bank of Greenwich	$108M	<0.1%	1	+118%
Sunnyside Federal Savings and Loan Association of Irvington	$76M	<0.1%	1	-4%
OceanFirst Bank	$66M	<0.1%	1	-39%
Dime Community Bank	$58M	<0.1%	1	no 2020 presence
Patriot Bank	$37M	<0.1%	1	-26%
The Putnam County National Bank of Carmel	$5M	<0.1%	1	-23%
Wilmington Trust	$0M	0.0%	1	no 2020 presence

The 31 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 New York-Newark market

Westchester County is one of 30 counties that make up the New York-Newark, NY-NJ-CT-PA market, a Combined Statistical Area (ranked #1 of 293 U.S. markets by economic output). It produces 4.4% of the market’s output and holds 9.5% of its deposits.

Measure	Westchester County	Share of parent market
2024 GDP	$93.3B	4.4%
Deposits	$273.1B	9.5%
Population	1,015,743	4.5%

View the full New York-Newark market profile →

Recruiting in Westchester 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 Westchester County.

See how we help banks recruit commercial banking talent

Deposit trend

Institutions by deposits

Part of the New York-Newark market

Recruiting in Westchester County

Other counties in the New York-Newark market