Albany-Schenectady, NY holds $38.1 billion in deposits across 20 insured institutions and 336 branches, ranking #43 of 293 U.S. markets by economic output. KeyBank is the largest deposit holder at 27.6% share. The top three institutions hold 47.0% of deposits, which places the market in the moderate band. Deposits have declined 5% since 2020 while the branch count fell by 38.
Deposit trend
Branches: 374 in 2020 to 336 in 2025. Institutions: 24 to 20. Top-three share: 55.6% to 47.0%. Deposits per branch: $113M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| KeyBank | 10.5B | 27.6% | -29% |
| TrustCo Bank | 3.9B | 10.1% | +16% |
| Arrow Bank | 3.5B | 9.2% | +74% |
| Bank of America | 3.0B | 7.8% | -2% |
| Manufacturers and Traders Trust Company | 2.7B | 7.0% | +35% |
| NBT Bank | 2.6B | 6.7% | +26% |
| Citizens Bank | 2.1B | 5.5% | -49% |
| TD Bank | 2.1B | 5.4% | +24% |
| Pioneer Bank | 1.8B | 4.6% | +37% |
| The Adirondack Trust Company | 1.4B | 3.6% | +12% |
The 10 largest of 20 insured institutions with a branch presence, as of June 30, 2025. Five-year change compares the same institution's deposits in 2020 and 2025; an acquirer absorbs the balances of banks it bought.
Counties in this market
| County | State | GDP | Population | Share of GDP |
|---|---|---|---|---|
| Albany County | New York | $36,724M | 321,225 | 42.2% |
| Saratoga County | New York | $13,000M | 241,343 | 15.0% |
| Rensselaer County | New York | $12,484M | 160,510 | 14.4% |
| Schenectady County | New York | $9,803M | 162,581 | 11.3% |
| Warren County | New York | $5,389M | 65,020 | 6.2% |
| Columbia County | New York | $2,640M | 60,168 | 3.0% |
| Montgomery County | New York | $2,015M | 50,046 | 2.3% |
| Washington County | New York | $2,007M | 59,353 | 2.3% |
| Fulton County | New York | $1,879M | 52,216 | 2.2% |
| Schoharie County | New York | $1,011M | 30,176 | 1.2% |
Recruiting in Albany
Deposits are neither closely held nor widely dispersed, which usually leaves room for a well-led team to take share without competing head-on with a dominant holder. 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 this one, on a retained basis.
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