Market Intelligence

Cedar Rapids-Iowa City, IA

Banking market profile · FDIC Summary of Deposits (SOD), June 30, 2026
Market Intelligence › Cedar Rapids-Iowa City, IA

Cedar Rapids-Iowa City, IA, a Combined Statistical Area, holds $14.6 billion in deposits across 44 insured institutions and 144 branches, and ranks #97 of 293 U.S. markets by economic output. Hills Bank and Trust Company is the largest deposit holder at 23.9% share. The top three banks hold 47% of deposits, which places the market in the Moderate band. Deposits have grown 8.0% since 2021 while the branch count fell by 2.0%.

Economic scale
2024 Real GDP
$30.4B
#97 of 293
Population
462K
#112 of 293
GDP per Capita
$65,709
#54 of 293
Deposit market
Deposits (SOD, 6/30/26)
$14.6B
#102 of 293
Deposits per Capita
$31,684
#100 of 293
Deposits per Branch
$102M
#173 of 293
Competitive structure
Insured Institutions
44
#45 of 293
Branches per 100k Pop.
31.2
#76 of 293
Median Deposits per Institution
$116M
The median deposits booked by a single institution in the market. #258 of 293. A lower figure means institutions typically hold smaller deposit positions here; it reflects local deposit presence, not an institution’s overall size. See Community & Regional Bank Share for institution scale.
Community & Regional Bank Share
81.1%
of market deposits held by banks with $100M to $100B in assets. #62 of 293. A higher share points to a market where small to mid-size institutions, the kind that compete on relationships and local decision-making, hold more ground.
Top-3 Banks’ Deposit Share: Moderate
47%
The combined deposit share of the top three banks by deposits in the market. A lower share means deposits are spread across more institutions.

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

Market Deposits (SOD, 2021 to 2026) +8.0% over 5 years
$13.6B
2021
$13.7B
2022
$13.9B
2023
$13.7B
2024
$14.0B
2025
$14.6B
2026

Branches: 147 in 2021 to 144 in 2026. Institutions: 47 to 44. Top-three share: 45% to 47%. Average deposits per branch: $102M.

Institutions by deposits

InstitutionDepositsShare Branches5‑yr
deposits
Hills Bank and Trust Company$3.5B23.9%19+5%
Cedar Rapids Bank and Trust Company$1.9B13.2%6+58%
U.S. Bank$1.4B9.7%9-7%
Nicolet National Bank$995M6.8%9+3%
Wells Fargo Bank$938M6.4%7-13%
Farmers State Bank$920M6.3%9+1%
Bankers Trust Company$429M2.9%3+24%
Washington State Bank$402M2.7%2+34%
West Bank$369M2.5%1-1%
Ohnward Bank & Trust$301M2.1%4+50%
Citizens State Bank$214M1.5%2+37%
Fairfax State Savings Bank$206M1.4%2+13%
Farmers & Merchants Savings Bank$197M1.3%4-27%
Central State Bank$190M1.3%4+2%
BankIowa$169M1.2%40%
Mount Vernon Bank and Trust Company$166M1.1%1+21%
Community Savings Bank$158M1.1%5+48%
Atkins Savings Bank & Trust$146M1.0%1+40%
BMO Bank$139M0.9%4-16%
Hiawatha Bank and Trust Company$134M0.9%3+1%
Federation Bank$116M0.8%3+2%
Citizens Savings Bank$116M0.8%1+6%
Farmers Savings Bank & Trust$115M0.8%1+17%
Chelsea Savings Bank$108M0.7%2+5%
Fidelity Bank & Trust$105M0.7%2+48%
CBI Bank & Trust$99M0.7%3+2%
Farmers and Merchants Savings Bank$96M0.7%3-1%
Solon State Bank$90M0.6%3-7%
Citizens State Bank$90M0.6%3+9%
Heartland Bank and Trust Company$84M0.6%3-44%
The Watkins Savings Bank$75M0.5%1+5%
Keystone Savings Bank$72M0.5%2+10%
Cedar Valley Bank & Trust$62M0.4%1+58%
Bank$59M0.4%2+16%
JPMorgan Chase Bank$55M0.4%1no 2021 presence
Bridge Community Bank$54M0.4%2-14%
First Mid Bank & Trust$50M0.3%1+29%
The Exchange State Bank$48M0.3%2-4%
Palo Savings Bank$45M0.3%1+2%
First Interstate Bank$41M0.3%2-71%
Benton County State Bank$38M0.3%1+13%
GreatAmerica Bank$36M0.2%3+139%
White State Bank$29M0.2%1+26%
Kerndt Brothers Savings Bank$22M0.1%1+28%

The 44 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

CountyStateGDP PopulationShare of Market GDP Share of Market Deposits
Linn CountyIowa$17.6B232,02857.9%49.5%
Johnson CountyIowa$9.9B160,04432.6%33.3%
Washington CountyIowa$1.4B22,6674.7%6.8%
Benton CountyIowa$850M26,0042.8%5.4%
Jones CountyIowa$631M21,2532.1%5.0%

Recruiting in the Cedar Rapids-Iowa City 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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Other markets in Iowa

All 293 markets and the 1,523 counties with a branch within a CSA or MSA are covered in the Market Intelligence resource. See the methodology for how each figure is built and when to expect updates, or the disclaimer for how this data should, and should not, be read.