Market Intelligence › Fargo-Wahpeton, ND-MN

Fargo-Wahpeton, ND-MN, a Combined Statistical Area, holds $13.6 billion in deposits across 36 insured institutions and 111 branches, ranking #142 of 293 U.S. markets by economic output. Bell Bank is the largest deposit holder at 34.4% share. The top three institutions hold 52.1% of deposits, which places the market in the moderate band. Deposits have grown 20.1% since 2020 with the branch count unchanged.

Economic scale

2024 Real GDP

$18.5B

#142 of 293

Population

293K

#155 of 293

GDP per Capita

$63,240

#68 of 293

Deposit market

Total Deposits

$13.6B

#106 of 293

Deposits per Capita

$46,488

#25 of 293

Deposits per Branch

$122M

#98 of 293

Competitive structure

Insured Institutions

#71 of 293

Branches per 100k Pop.

37.9

#28 of 293

Median Deposits per Institution

$117M

The median deposits booked by a single institution in the market. #251 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

80.0%

of market deposits held by banks with $100M to $50B in assets. #52 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 Deposit Share: moderate

52.1%

The combined deposit share of the three largest institutions 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

Total market deposits (nominal), 2020 to 2025 +20.1% over 5 years

$11.3B

2020

$13.5B

2021

$13.0B

2022

$13.9B

2023

$13.9B

2024

$13.6B

2025

Branches: 111 in 2020 to 111 in 2025. Institutions: 33 to 36. Top-three share: 55.0% to 52.1%. Deposits per branch: $122M.

Institutions by deposits

Institution	Deposits	Share	Branches	5‑yr
Bell Bank	$4.7B	34.4%	13	+4%
First International Bank & Trust	$1.3B	9.2%	4	+51%
Gate City Bank	$1.2B	8.5%	18	+49%
U.S. Bank	$1.0B	7.3%	6	+37%
Choice Financial Group	$0.8B	5.9%	3	+85%
Wells Fargo Bank	$0.7B	5.3%	6	-18%
Old National Bank	$0.7B	4.9%	5	+27%
Alerus Financial	$0.5B	3.9%	3	+30%
Western State Bank	$0.4B	3.2%	2	+46%
VISIONBank	$0.3B	1.9%	3	+30%
Cornerstone Bank	$229M	1.7%	1	+80%
American Federal Bank	$219M	1.6%	4	+12%
BankNorth	$198M	1.5%	4	+69%
Border Bank	$197M	1.5%	2	+73%
Starion Bank	$140M	1.0%	3	+16%
Valley Premier Bank	$134M	1.0%	2	+25%
Northwestern Bank	$127M	0.9%	3	+1%
BMO Bank	$123M	0.9%	3	-58%
Midwest Bank	$110M	0.8%	1	+44%
Lincoln State Bank	$102M	0.8%	3	+35%
First Western Bank & Trust	$78M	0.6%	3	no 2020 presence
Bank Forward	$55M	0.4%	1	+69%
JPMorgan Chase Bank	$53M	0.4%	3	no 2020 presence
Aspire Bank	$42M	0.3%	1	+43%
Kindred State Bank	$40M	0.3%	1	+39%
Dakota Heritage Bank	$39M	0.3%	2	+27%
KodaBank	$39M	0.3%	1	no 2020 presence
Peoples State Bank, Fairmount, N. D.	$34M	0.3%	2	+16%
First United Bank	$32M	0.2%	1	no 2020 presence
Hometown Community Bank	$26M	0.2%	1	+77%
First Interstate Bank	$23M	0.2%	1	+170%
Farmers State Bank of Underwood	$16M	0.1%	1	+23%
Vantage Bank	$11M	0.1%	1	-5%
Dacotah Bank	$11M	0.1%	1	no 2020 presence
Merchants Bank	$5M	0.0%	1	no 2020 presence
State Bank of Lake Park	$3M	0.0%	1	-15%

The 36 insured institutions with a branch presence, as of June 30, 2025. Five-year change compares the same institution’s deposits in 2020 and 2025. 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 2020 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

County	State	GDP	Population	Share of Market GDP	Share of Market Deposits
Cass County	North Dakota	$14.9B	201,794	80.4%	82.0%
Clay County	Minnesota	$2.2B	67,734	12.0%	11.6%
Richland County	North Dakota	$1.1B	16,731	6.1%	5.2%
Wilkin County	Minnesota	$282M	6,288	1.5%	1.1%

Recruiting in the Fargo-Wahpeton 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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Deposit trend

Institutions by deposits

Counties in this market

Recruiting in the Fargo-Wahpeton market

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