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 $274.0B in deposits across 31 insured institutions and 244 branches. Morgan Stanley Private Bank is the largest deposit holder at 77.2% share. The top three banks hold 88% of deposits, which places the county in the Concentrated band. Deposits have grown 58.2% since 2021 while the branch count fell by 14.7%. It produced $93.3B of real gross domestic product in 2024, 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, 6/30/26)

$274.0B

#14 of 1,523

Deposits per Capita

$269,798

#9 of 1,523

Deposits per Branch

$1.1B

#10 of 1,523

Competitive structure

Insured Institutions

#91 of 1,523

Branches per 100k Pop.

24.0

#768 of 1,523

Median Deposits per Institution

$870M

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

8.6%

of county deposits held by banks with $100M to $100B in assets. #1,501 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, 2021 to 2026)+58.2% over 5 years

$173.2B

2021

$249.0B

2022

$239.6B

2023

$250.7B

2024

$273.1B

2025

$274.0B

2026

Branches: 286 in 2021 to 244 in 2026. Institutions: 33 to 31. Top-three share: 78% to 88%.

A note on this trend. Morgan Stanley Private Bank booked $211.7 billion at a single office in this county in 2026, a headquarters or online-bank booking, not local retail deposits. It held $108.8 billion here in 2021, so the 58.2% increase shown here mainly reflects that booking rather than local market activity. Setting such headquarters-booked balances aside, deposits were about $60.1 billion in 2021 and $50.3 billion in 2026. 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	$211.7B	77.2%	1	+95%
JPMorgan Chase Bank	$17.1B	6.3%	63	-7%
Customers Bank	$12.1B	4.4%	1	+179%
Citibank	$6.2B	2.3%	20	-15%
Wells Fargo Bank	$4.5B	1.7%	24	+5%
Emigrant Bank	$3.4B	1.2%	4	no 2021 presence
Bank of America	$3.1B	1.1%	16	-23%
TD Bank	$2.8B	1.0%	12	-18%
Citizens Bank	$1.7B	0.6%	8	+32%
Apple Bank	$1.4B	0.5%	6	+5%
Manufacturers and Traders Trust Company	$1.3B	0.5%	17	-32%
Flagstar Bank	$1.2B	0.4%	5	-60%
Orange Bank & Trust Company	$1.1B	0.4%	6	+39%
Valley National Bank	$889M	0.3%	6	-22%
Beacon Bank and Trust	$882M	0.3%	9	+27%
Webster Bank	$870M	0.3%	10	-78%
HSBC Bank USA	$810M	0.3%	1	-57%
Capital One	$702M	0.3%	3	-42%
KeyBank	$594M	0.2%	8	-34%
Tompkins Community Bank	$499M	0.2%	5	+4%
NorthEast Community Bank	$389M	0.1%	1	+48%
ConnectOne Bank	$232M	0.1%	1	+162%
TrustCo Bank	$194M	0.1%	8	-4%
Ridgewood Savings Bank	$182M	0.1%	2	-10%
The First Bank of Greenwich	$111M	<0.1%	1	+93%
Dime Commercial Bank	$81M	<0.1%	1	no 2021 presence
Sunnyside Federal Savings and Loan Association of Irvington	$72M	<0.1%	1	-13%
OceanFirst Bank	$72M	<0.1%	1	-29%
Patriot Bank	$24M	<0.1%	1	-50%
The Putnam County National Bank of Carmel	$3M	<0.1%	1	-61%
Wilmington Trust	$0M	0.0%	1	no 2021 presence

The 31 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 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 9.0% of its deposits.

Measure	Westchester County	Share of parent market
2024 GDP	$93.3B	4.4%
Deposits	$274.0B	9.0%
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