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 institutions hold 87.8% of deposits, which places the county in the concentrated band. Deposits have grown 79.1% since 2020 while the branch count fell by 45. It produces $93.3B of output, ranking #50 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 294 in 2020 to 249 in 2025. Institutions: 34 to 31. Top-three share: 76.5% to 87.8%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Morgan Stanley Private Bank, National Association | $212.4B | 77.8% | +126% |
| JPMorgan Chase Bank, National Association | $17.0B | 6.2% | +6% |
| Customers Bank | $10.3B | 3.8% | +347% |
| Citibank, National Association | $6.4B | 2.3% | -5% |
| Wells Fargo Bank, National Association | $4.6B | 1.7% | +1% |
| Emigrant Bank | $3.6B | 1.3% | no 2020 presence |
| Bank of America, National Association | $3.2B | 1.2% | -13% |
| TD Bank, National Association | $2.9B | 1.1% | -13% |
| Citizens Bank, National Association | $1.7B | 0.6% | +101% |
| Apple Bank | $1.4B | 0.5% | +13% |
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 organic growth; “no 2020 presence” means neither the institution nor a bank it later absorbed reported deposits in this county that year.
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 New York-Newark 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, on a retained basis.
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