Whatcom County, Washington, a core county of the Bellingham, WA market, holds $5.2B in deposits across 14 insured institutions and 48 branches. Peoples Bank is the largest deposit holder at 23.9% share. The top three institutions hold 45.8% of deposits, which places the county in the moderately concentrated band. Deposits have grown 3.9% since 2020 while the branch count fell by 5. It produces $15.6B of output, ranking #260 of the 1,523 counties within a CSA or MSA by economic output.
Deposit trend
Branches: 53 in 2020 to 48 in 2025. Institutions: 14 to 14. Top-three share: 45.2% to 45.8%.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Peoples Bank | $1.2B | 23.9% | +6% |
| Bank of America, National Association | $567M | 11.0% | -5% |
| JPMorgan Chase Bank, National Association | $566M | 11.0% | +43% |
| Banner Bank | $513M | 9.9% | +35% |
| U.S. Bank National Association | $506M | 9.8% | +6% |
| Washington Federal Bank | $462M | 9.0% | +1% |
| Wells Fargo Bank, National Association | $355M | 6.9% | -11% |
| KeyBank National Association | $202M | 3.9% | -33% |
| Umpqua Bank | $186M | 3.6% | -21% |
| Bank of the Pacific | $173M | 3.4% | -21% |
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 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 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 Bellingham market |
|---|---|---|
| 2024 GDP | $15.6B | 100.0% |
| Deposits | $5.2B | 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, on a retained basis.
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