Charlotte-Concord, NC-SC holds $487.2 billion in deposits across 53 insured institutions and 601 branches, ranking #19 of 293 U.S. markets by economic output. Bank of America is the largest deposit holder at 65.9% share. The top three institutions hold 92.1% of deposits, which places the market in the concentrated band. Deposits have grown 41% since 2020 while the branch count fell by 32.
Deposit trend
Branches: 633 in 2020 to 601 in 2025. Institutions: 50 to 53. Top-three share: 92.6% to 92.1%. Deposits per branch: $811M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Bank of America | 321.1B | 65.9% | +58% |
| Truist Bank | 91.5B | 18.8% | +13% |
| Wells Fargo Bank | 36.3B | 7.4% | +2% |
| First-Citizens Bank & Trust Company | 6.0B | 1.2% | +30% |
| Fifth Third Bank | 5.9B | 1.2% | +22% |
| SouthState Bank | 2.5B | 0.5% | +29% |
| PNC Bank | 2.4B | 0.5% | +152% |
| Pinnacle Bank | 2.2B | 0.5% | +53% |
| First Horizon Bank | 2.0B | 0.4% | +22% |
| First National Bank of Pennsylvania | 1.7B | 0.4% | +61% |
The 10 largest of 53 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 |
|---|---|---|---|---|
| Mecklenburg County | North Carolina | $146,152M | 1,233,383 | 60.5% |
| York County | South Carolina | $15,071M | 306,887 | 6.2% |
| Iredell County | North Carolina | $10,800M | 211,798 | 4.5% |
| Union County | North Carolina | $10,026M | 267,674 | 4.1% |
| Cabarrus County | North Carolina | $9,912M | 249,725 | 4.1% |
| Catawba County | North Carolina | $9,471M | 170,172 | 3.9% |
| Gaston County | North Carolina | $8,815M | 246,558 | 3.6% |
| Rowan County | North Carolina | $6,081M | 155,096 | 2.5% |
| Cleveland County | North Carolina | $4,718M | 103,325 | 2.0% |
| Lancaster County | South Carolina | $4,225M | 114,296 | 1.7% |
| Lincoln County | North Carolina | $3,579M | 98,654 | 1.5% |
| Burke County | North Carolina | $2,885M | 88,655 | 1.2% |
| Caldwell County | North Carolina | $2,508M | 81,105 | 1.0% |
| McDowell County | North Carolina | $2,183M | 45,198 | 0.9% |
| Stanly County | North Carolina | $2,084M | 68,830 | 0.9% |
| Chester County | South Carolina | $1,382M | 33,001 | 0.6% |
| Alexander County | North Carolina | $897M | 36,958 | 0.4% |
| Anson County | North Carolina | $893M | 21,758 | 0.4% |
Recruiting in Charlotte
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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