Fargo-Wahpeton, ND-MN 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% since 2020 with the branch count unchanged.
Deposit trend
Branches: 111 in 2020 to 111 in 2025. Institutions: 33 to 36. Top-three share: 55.0% to 52.1%. Deposits per branch: $122M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Bell Bank | 4.7B | 34.4% | +4% |
| First International Bank & Trust | 1.3B | 9.2% | +51% |
| Gate City Bank | 1.2B | 8.5% | +49% |
| U.S. Bank | 1.0B | 7.3% | +36% |
| Choice Financial Group | 0.8B | 5.9% | +85% |
| Wells Fargo Bank | 0.7B | 5.3% | -18% |
| Old National Bank | 0.7B | 4.9% | new since 2020 |
| Alerus Financial | 0.5B | 3.9% | +30% |
| Western State Bank | 0.4B | 3.2% | +46% |
| VISIONBank | 0.3B | 1.9% | +30% |
The 10 largest of 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; an acquirer absorbs the balances of banks it bought.
Counties in this market
| County | State | GDP | Population | Share of GDP |
|---|---|---|---|---|
| Cass County | North Dakota | $14,875M | 201,794 | 80.4% |
| Clay County | Minnesota | $2,214M | 67,734 | 12.0% |
| Richland County | North Dakota | $1,130M | 16,731 | 6.1% |
| Wilkin County | Minnesota | $282M | 6,288 | 1.5% |
Recruiting in Fargo
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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