Indianapolis-Carmel-Muncie, IN, a Combined Statistical Area, holds $101.9 billion in deposits across 59 insured institutions and 616 branches, ranking #26 of 293 U.S. markets by economic output. JPMorgan Chase Bank is the largest deposit holder at 14.1% share. The top three institutions hold 38.1% of deposits, which places the market in the fragmented band. Deposits have grown 32.0% since 2020 while the branch count fell by 5.7%.
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: 653 in 2020 to 616 in 2025. Institutions: 57 to 59. Top-three share: 40.1% to 38.1%. Deposits per branch: $165M.
Institutions by deposits
The 59 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 | |
|---|---|---|---|---|---|
| Marion County | Indiana | $108.7B | 992,196 | 56.6% | 42.5% |
| Hamilton County | Indiana | $24.9B | 387,036 | 13.0% | 27.7% |
| Hendricks County | Indiana | $7.8B | 193,510 | 4.1% | 4.6% |
| Bartholomew County | Indiana | $7.1B | 85,729 | 3.7% | 1.8% |
| Johnson County | Indiana | $5.9B | 174,262 | 3.1% | 3.8% |
| Howard County | Indiana | $4.9B | 83,904 | 2.6% | 1.8% |
| Boone County | Indiana | $4.8B | 80,689 | 2.5% | 1.8% |
| Delaware County | Indiana | $4.3B | 113,106 | 2.2% | 3.0% |
| Madison County | Indiana | $4.3B | 135,088 | 2.2% | 1.8% |
| Hancock County | Indiana | $3.8B | 90,969 | 2.0% | 1.6% |
| Jackson County | Indiana | $2.9B | 47,370 | 1.5% | 1.2% |
| Morgan County | Indiana | $2.4B | 74,967 | 1.2% | 1.4% |
| Shelby County | Indiana | $2.2B | 45,882 | 1.1% | 2.4% |
| Montgomery County | Indiana | $1.8B | 38,954 | 0.9% | 0.9% |
| Decatur County | Indiana | $1.6B | 26,576 | 0.9% | 0.7% |
| Henry County | Indiana | $1.5B | 49,137 | 0.8% | 0.8% |
| Putnam County | Indiana | $1.1B | 37,876 | 0.6% | 0.8% |
| Miami County | Indiana | $969M | 34,487 | 0.5% | 0.9% |
| Tipton County | Indiana | $592M | 15,319 | 0.3% | 0.2% |
| Brown County | Indiana | $342M | 15,777 | 0.2% | 0.2% |
Recruiting in the Indianapolis-Carmel-Muncie 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.
See how we help banks recruit commercial banking talent