Bellingham, WA holds $5.2 billion in deposits across 14 insured institutions and 48 branches, ranking #156 of 293 U.S. markets by economic output. Peoples Bank is the largest deposit holder at 23.9% share. The top three institutions hold 45.8% of deposits, which places the market in the moderate band.
Deposit trend
Branches: 53 in 2020 to 48 in 2025. Institutions: 14 to 14. Top-three share: 45.2% to 45.8%. Deposits per branch: $107M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Peoples Bank | 1.2B | 23.9% | +6% |
| Bank of America | 0.6B | 11.0% | -6% |
| JPMorgan Chase Bank | 0.6B | 11.0% | +43% |
| Banner Bank | 0.5B | 9.9% | +35% |
| U.S. Bank | 0.5B | 9.8% | +6% |
| Washington Federal Bank | 0.5B | 9.0% | +1% |
| Wells Fargo Bank | 0.4B | 6.9% | -11% |
| KeyBank | 0.2B | 3.9% | -33% |
| Umpqua Bank | 0.2B | 3.6% | +5% |
| Bank of the Pacific | 0.2B | 3.4% | -21% |
The 10 largest of 14 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 |
|---|---|---|---|---|
| Whatcom County | Washington | $15,565M | 236,392 | 100.0% |
Recruiting in Bellingham
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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