Cedar Rapids-Iowa City, IA holds $14.0 billion in deposits across 44 insured institutions and 143 branches, ranking #97 of 293 U.S. markets by economic output. Hills Bank and Trust Company is the largest deposit holder at 23.7% share. The top three institutions hold 45.3% of deposits, which places the market in the moderate band. Deposits have grown 16% since 2020 while the branch count fell by 10.
Deposit trend
Branches: 153 in 2020 to 143 in 2025. Institutions: 48 to 44. Top-three share: 44.9% to 45.3%. Deposits per branch: $98M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Hills Bank and Trust Company | 3.3B | 23.7% | +14% |
| Cedar Rapids Bank and Trust Company | 1.7B | 12.0% | +41% |
| U.S. Bank | 1.4B | 9.6% | +1% |
| MidWestOne Bank | 1.3B | 8.9% | +40% |
| Farmers State Bank | 0.9B | 6.3% | +12% |
| Wells Fargo Bank | 0.8B | 6.0% | -16% |
| Washington State Bank | 0.4B | 2.9% | +56% |
| Bankers Trust Company | 0.4B | 2.9% | +31% |
| West Bank | 0.4B | 2.5% | +65% |
| Ohnward Bank & Trust | 0.3B | 2.0% | +64% |
The 10 largest of 44 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 |
|---|---|---|---|---|
| Linn County | Iowa | $17,575M | 232,028 | 57.9% |
| Johnson County | Iowa | $9,888M | 160,044 | 32.6% |
| Washington County | Iowa | $1,412M | 22,667 | 4.7% |
| Benton County | Iowa | $850M | 26,004 | 2.8% |
| Jones County | Iowa | $631M | 21,253 | 2.1% |
Recruiting in Cedar Rapids
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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