Harrisonburg-Staunton-Stuarts Draft, VA, a Combined Statistical Area, holds $5.9 billion in deposits across 18 insured institutions and 72 branches, and ranks #163 of 293 U.S. markets by economic output. Farmers & Merchants Bank is the largest deposit holder at 17.7% share. The top three banks hold 51% of deposits, which places the market in the Moderate band. Deposits have grown 13.1% since 2021 while the branch count fell by 10.0%.
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: 80 in 2021 to 72 in 2026. Institutions: 18 to 18. Top-three share: 50% to 51%. Average deposits per branch: $82M.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Farmers & Merchants Bank | $1.0B | 17.7% | +30% |
| Truist Bank | $1.0B | 17.6% | -11% |
| The First Bank and Trust Company | $938M | 15.8% | +86% |
| Atlantic Union Bank | $674M | 11.4% | +11% |
| Wells Fargo Bank | $552M | 9.3% | +8% |
| United Bank | $406M | 6.9% | +12% |
| City National Bank of West Virginia | $256M | 4.3% | +2% |
| Pendleton Community Bank, Inc. | $218M | 3.7% | +45% |
| Bank of America | $200M | 3.4% | -16% |
| First Bank | $138M | 2.3% | +1% |
| Burke & Herbert Bank & Trust Company | $127M | 2.1% | +16% |
| First-Citizens Bank & Trust Company | $104M | 1.8% | +13% |
| The National Bank of Blacksburg | $72M | 1.2% | -41% |
| Blue Ridge Bank | $53M | 0.9% | -37% |
| Bank of the James | $49M | 0.8% | +10% |
| Select Bank | $20M | 0.3% | +119% |
| Pioneer Bank | $15M | 0.2% | -16% |
| Woodforest National Bank | $6M | 0.1% | -20% |
The 18 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 | |
|---|---|---|---|---|---|
| Rockingham County | Virginia | $5.3B | 89,316 | 38.3% | 21.7% |
| Augusta County | Virginia | $3.4B | 78,940 | 24.3% | 7.2% |
| Harrisonburg city | Virginia | $3.0B | 50,839 | 21.8% | 37.4% |
| Staunton city | Virginia | $1.1B | 26,801 | 8.2% | 20.7% |
| Waynesboro city | Virginia | $1.0B | 23,951 | 7.4% | 12.9% |
Recruiting in the Harrisonburg-Staunton-Stuarts Draft market
Deposits are moderately concentrated here, held by a mix of institutions rather than dominated by one. 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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