Albany-Schenectady, NY, a Combined Statistical Area, holds $38.8 billion in deposits across 19 insured institutions and 338 branches, and ranks #43 of 293 U.S. markets by economic output. KeyBank is the largest deposit holder at 28.2% share. The top three banks hold 47% of deposits, which places the market in the Moderate band.
Ranks show where the market stands among the 293 markets (Combined and Metropolitan Statistical Areas). They describe relative position, not a rating of market quality or suitability.
Deposit trend
Branches: 367 in 2021 to 338 in 2026. Institutions: 24 to 19. Top-three share: 50% to 47%. Average deposits per branch: $115M.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| KeyBank | $10.9B | 28.2% | -15% |
| TrustCo Bank | $4.0B | 10.4% | +12% |
| Arrow Bank | $3.3B | 8.4% | +9% |
| Bank of America | $2.9B | 7.4% | -14% |
| NBT Bank | $2.6B | 6.7% | +13% |
| Manufacturers and Traders Trust Company | $2.5B | 6.5% | -7% |
| Citizens Bank | $2.3B | 6.0% | -6% |
| Pioneer Bank | $2.0B | 5.1% | +3% |
| TD Bank | $1.9B | 5.0% | -2% |
| The Adirondack Trust Company | $1.5B | 3.8% | +2% |
| Ballston Spa National Bank | $910M | 2.3% | +23% |
| Community Bank | $836M | 2.2% | +23% |
| The Bank of Greene County | $709M | 1.8% | +41% |
| First National Bank of Scotia | $632M | 1.6% | +6% |
| Beacon Bank and Trust | $608M | 1.6% | -40% |
| JPMorgan Chase Bank | $545M | 1.4% | +426% |
| Chemung Canal Trust Company | $470M | 1.2% | 0% |
| Bank of Richmondville | $166M | 0.4% | +6% |
| Rhinebeck Bank | $0M | 0.0% | no 2021 presence |
The 19 insured institutions with a branch presence in this market, per the FDIC Summary of Deposits, June 30, 2026. Five-year change compares the same institution’s 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 market that year. Deposit figures are nominal and are not adjusted for inflation.
Counties in this market
| County | State | GDP | Population | Share of Market GDP | |
|---|---|---|---|---|---|
| Albany County | New York | $36.7B | 321,225 | 42.2% | 45.5% |
| Saratoga County | New York | $13.0B | 241,343 | 15.0% | 17.3% |
| Rensselaer County | New York | $12.5B | 160,510 | 14.4% | 6.9% |
| Schenectady County | New York | $9.8B | 162,581 | 11.3% | 9.0% |
| Warren County | New York | $5.4B | 65,020 | 6.2% | 8.3% |
| Columbia County | New York | $2.6B | 60,168 | 3.0% | 3.8% |
| Montgomery County | New York | $2.0B | 50,046 | 2.3% | 2.7% |
| Washington County | New York | $2.0B | 59,353 | 2.3% | 2.2% |
| Fulton County | New York | $1.9B | 52,216 | 2.2% | 2.6% |
| Schoharie County | New York | $1.0B | 30,176 | 1.2% | 1.8% |
Recruiting in the Albany-Schenectady market
Deposits are moderately concentrated here, held by a mix of institutions rather than dominated by one. 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.
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