Grand Forks, ND-MN, a Metropolitan Statistical Area, holds $3.9 billion in deposits across 21 insured institutions and 39 branches, and ranks #258 of 293 U.S. markets by economic output. Alerus Financial is the largest deposit holder at 15.1% share. The top three banks hold 39% of deposits, which places the market in the Fragmented band.
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: 40 in 2021 to 39 in 2026. Institutions: 19 to 21. Top-three share: 50% to 39%. Average deposits per branch: $99M.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Alerus Financial | $584M | 15.1% | -28% |
| Old National Bank | $575M | 14.8% | -27% |
| Gate City Bank | $368M | 9.5% | +36% |
| U.S. Bank | $305M | 7.9% | -3% |
| Frandsen Bank & Trust | $290M | 7.5% | +30% |
| First State Bank | $254M | 6.6% | +48% |
| Choice Financial Group | $248M | 6.4% | -4% |
| American Federal Bank | $232M | 6.0% | +13% |
| United Valley Bank | $205M | 5.3% | +39% |
| Wells Fargo Bank | $203M | 5.2% | +28% |
| Ultima Bank Minnesota | $186M | 4.8% | +34% |
| Bank Forward | $73M | 1.9% | +15% |
| Bell Bank | $62M | 1.6% | no 2021 presence |
| First International Bank & Trust | $58M | 1.5% | -31% |
| Red River State Bank | $41M | 1.1% | +6% |
| KodaBank | $39M | 1.0% | no 2021 presence |
| The First National Bank of McIntosh | $37M | 1.0% | +43% |
| American State Bank of Grygla | $35M | 0.9% | +8% |
| Unity Bank | $32M | 0.8% | +172% |
| The First National Bank of Bagley | $27M | 0.7% | +4% |
| Bravera Bank | $16M | 0.4% | -19% |
The 21 insured institutions with a branch presence in this market, per the FDIC Summary of Deposits, June 30, 2026. Five-year change compares the same institution’s deposits in 2021 and 2026. 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 2021 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 | |
|---|---|---|---|---|---|
| Grand Forks County | North Dakota | $4.6B | 74,501 | 78.5% | 74.3% |
| Polk County | Minnesota | $1.3B | 30,545 | 21.5% | 25.7% |
Recruiting in the Grand Forks market
No single institution dominates deposits here, which often means more competitors of a size where a well-positioned team has room to compete. 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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