Grand Rapids-Wyoming, MI holds $36.8 billion in deposits across 30 insured institutions and 302 branches, ranking #48 of 293 U.S. markets by economic output. The Huntington National Bank is the largest deposit holder at 18.1% share. The top three institutions hold 47.1% of deposits, which places the market in the moderate band. Deposits have grown 17% since 2020 while the branch count fell by 77.
Deposit trend
Branches: 379 in 2020 to 302 in 2025. Institutions: 33 to 30. Top-three share: 43.3% to 47.1%. Deposits per branch: $122M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| The Huntington National Bank | 6.7B | 18.1% | +91% |
| Fifth Third Bank | 6.2B | 16.7% | -15% |
| Northpointe Bank | 4.5B | 12.2% | +196% |
| Macatawa Bank | 2.9B | 8.0% | +38% |
| JPMorgan Chase Bank | 2.9B | 8.0% | +6% |
| Mercantile Bank | 2.5B | 6.9% | +39% |
| Independent Bank | 1.4B | 3.9% | -8% |
| PNC Bank | 1.4B | 3.7% | -8% |
| ChoiceOne Bank | 1.2B | 3.3% | +113% |
| West Michigan Community Bank | 0.9B | 2.5% | +59% |
The 10 largest of 30 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 |
|---|---|---|---|---|
| Kent County | Michigan | $47,141M | 675,232 | 57.5% |
| Ottawa County | Michigan | $16,444M | 308,459 | 20.0% |
| Muskegon County | Michigan | $6,688M | 177,901 | 8.2% |
| Allegan County | Michigan | $5,138M | 123,188 | 6.3% |
| Ionia County | Michigan | $1,904M | 66,557 | 2.3% |
| Barry County | Michigan | $1,792M | 63,991 | 2.2% |
| Montcalm County | Michigan | $1,643M | 69,406 | 2.0% |
| Mecosta County | Michigan | $1,291M | 42,320 | 1.6% |
Recruiting in Grand Rapids
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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