Florence, SC holds $4.3 billion in deposits across 16 insured institutions and 52 branches, ranking #189 of 293 U.S. markets by economic output. Wells Fargo Bank is the largest deposit holder at 17.1% share. The top three institutions hold 44.8% of deposits, which places the market in the fragmented band. Deposits have grown 22% since 2020 while the branch count fell by 4.
Deposit trend
Branches: 56 in 2020 to 52 in 2025. Institutions: 16 to 16. Top-three share: 46.7% to 44.8%. Deposits per branch: $82M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Wells Fargo Bank | 0.7B | 17.1% | -1% |
| First-Citizens Bank & Trust Company | 0.6B | 14.6% | +41% |
| SouthState Bank | 0.6B | 13.1% | +24% |
| The Citizens Bank | 0.5B | 10.6% | +38% |
| Carolina Bank & Trust Co. | 0.4B | 10.1% | +39% |
| First Reliance Bank | 0.4B | 9.1% | +29% |
| First Bank | 0.3B | 7.5% | +286% |
| Truist Bank | 0.2B | 5.7% | -38% |
| Anderson Brothers Bank | 0.1B | 3.2% | +49% |
| TD Bank | 0.1B | 2.4% | +8% |
The 10 largest of 16 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 |
|---|---|---|---|---|
| Florence County | South Carolina | $7,856M | 138,504 | 74.8% |
| Darlington County | South Carolina | $2,652M | 62,888 | 25.2% |
Recruiting in Florence
No single institution dominates deposits here, which usually means more competitors of a size where a strong team can move meaningful share. 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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