Buffalo-Cheektowaga-Olean, NY holds $62.7 billion in deposits across 21 insured institutions and 250 branches, ranking #51 of 293 U.S. markets by economic output. Manufacturers and Traders Trust Company is the largest deposit holder at 59.8% share. The top three institutions hold 77.6% of deposits, which places the market in the concentrated band.
Deposit trend
Branches: 278 in 2020 to 250 in 2025. Institutions: 20 to 21. Top-three share: 80.5% to 77.6%. Deposits per branch: $251M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Manufacturers and Traders Trust Company | 37.5B | 59.8% | -3% |
| KeyBank | 7.6B | 12.1% | -13% |
| HSBC Bank USA | 3.6B | 5.7% | -1% |
| Bank of America | 3.0B | 4.8% | +2% |
| Northwest Bank | 2.5B | 4.0% | +15% |
| Citizens Bank | 2.4B | 3.9% | +19% |
| NBT Bank | 1.7B | 2.7% | new since 2020 |
| Community Bank | 1.1B | 1.8% | +18% |
| CNB Bank | 1.0B | 1.6% | +41% |
| Five Star Bank | 0.7B | 1.2% | +31% |
The 10 largest of 21 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 |
|---|---|---|---|---|
| Erie County | New York | $63,227M | 946,741 | 82.4% |
| Niagara County | New York | $10,529M | 208,912 | 13.7% |
| Cattaraugus County | New York | $2,990M | 75,390 | 3.9% |
Recruiting in Buffalo
Deposits are held closely by the largest institutions, which often means the bankers worth recruiting are inside a small number of houses. 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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