Whatcom County, Washington, a core county of the Bellingham, WA market, holds $5.1B in deposits across 14 insured institutions and 48 branches. Peoples Bank is the largest deposit holder at 23.6% share. The top three banks hold 47% of deposits, which places the county in the Moderate band. Deposits have fallen 7.9% since 2021. It produced $15.6B of real gross domestic product in 2024, ranking #260 of the 1,523 ranked counties by economic output.
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
Branches: 48 in 2021 to 48 in 2026. Institutions: 14 to 14. Top-three share: 47% to 47%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Peoples Bank | $1.2B | 23.6% | -11% |
| JPMorgan Chase Bank | $633M | 12.3% | +32% |
| Bank of America | $556M | 10.8% | -18% |
| U.S. Bank | $524M | 10.2% | -7% |
| Banner Bank | $460M | 9.0% | +6% |
| WaFd Bank | $441M | 8.6% | -7% |
| Wells Fargo Bank | $354M | 6.9% | -14% |
| KeyBank | $196M | 3.8% | -34% |
| Bank of the Pacific | $187M | 3.6% | -20% |
| Heritage Bank | $160M | 3.1% | -32% |
| Columbia Bank | $158M | 3.1% | -33% |
| First Fed Bank | $145M | 2.8% | +30% |
| Mountain Pacific Bank | $84M | 1.6% | no 2021 presence |
| Washington Trust Bank | $21M | 0.4% | no 2021 presence |
The 14 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 Bellingham market
Whatcom County is the only county in the Bellingham, WA market, a Metropolitan Statistical Area (ranked #156 of 293 U.S. markets by economic output). It produces 100.0% of the market’s output and holds 100.0% of its deposits.
| Measure | Whatcom County | Share of parent market |
|---|---|---|
| 2024 GDP | $15.6B | 100.0% |
| Deposits | $5.1B | 100.0% |
| Population | 236,392 | 100.0% |
View the full Bellingham market profile →
Recruiting in Whatcom County
Deposits are split among a moderate 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 Whatcom County.
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