Florence-Muscle Shoals-Russellville, AL, a Combined Statistical Area, 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 24.3% since 2020 while the branch count fell by 4.4%.
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
Branches: 68 in 2020 to 65 in 2025. Institutions: 15 to 17. Top-three share: 57.5% to 60.1%. Deposits per branch: $75M.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Bank Independent | $1.3B | 26.3% | +27% |
| 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% | no 2020 presence |
| Wells Fargo Bank | $109M | 2.2% | -20% |
| PNC Bank | $99M | 2.0% | -61% |
| The Farmers & Merchants Bank | $85M | 1.8% | +19% |
| River Bank & Trust | $38M | 0.8% | no 2020 presence |
| Citizens Bank & Trust | $36M | 0.7% | +29% |
| PeoplesTrust Bank | $20M | 0.4% | +60% |
| Renasant Bank | $5M | 0.1% | no 2020 presence |
The 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. 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 | |
|---|---|---|---|---|---|
| Lauderdale County | Alabama | $3.0B | 97,135 | 43.4% | 55.2% |
| Colbert County | Alabama | $2.8B | 59,474 | 41.4% | 27.2% |
| Franklin County | Alabama | $1.0B | 32,449 | 15.2% | 17.7% |
Recruiting in the Florence-Muscle Shoals-Russellville market
Deposits are held closely by the largest banks, which often means the bankers worth recruiting are inside a small number of institutions. 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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