Florence-Muscle Shoals-Russellville, AL holds $4.9 billion in deposits across 17 insured institutions and 65 branches, ranking #246 of 293 U.S. markets by economic output. Bank Independent is the largest deposit holder at 26.3% share. The top three institutions hold 60.1% of deposits, which places the market in the concentrated band. Deposits have grown 24% since 2020 while the branch count fell by 3.
Deposit trend
Branches: 68 in 2020 to 65 in 2025. Institutions: 15 to 17. Top-three share: 57.5% to 60.1%. Deposits per branch: $75M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Bank Independent | 1.3B | 26.3% | +26% |
| First Metro Bank | 0.9B | 17.8% | +27% |
| CB&S Bank, Inc. | 0.8B | 15.9% | +39% |
| First Southern Bank | 0.5B | 10.8% | +87% |
| Regions Bank | 0.3B | 6.5% | +20% |
| FirstBank | 0.2B | 3.5% | +306% |
| Truist Bank | 0.2B | 3.4% | -24% |
| Community Spirit Bank | 0.1B | 2.9% | +25% |
| Valley State Bank | 0.1B | 2.5% | +14% |
| United Community Bank | 0.1B | 2.4% | new since 2020 |
The 10 largest of 17 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 |
|---|---|---|---|---|
| Lauderdale County | Alabama | $2,989M | 97,135 | 43.4% |
| Colbert County | Alabama | $2,847M | 59,474 | 41.4% |
| Franklin County | Alabama | $1,044M | 32,449 | 15.2% |
Recruiting in Florence
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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