Lynchburg, VA holds $6.1 billion in deposits across 17 insured institutions and 77 branches, ranking #186 of 293 U.S. markets by economic output. Truist Bank is the largest deposit holder at 20.7% share. The top three institutions hold 50.6% of deposits, which places the market in the moderate band. Deposits have grown 7% since 2020 while the branch count fell by 7.
Deposit trend
Branches: 84 in 2020 to 77 in 2025. Institutions: 16 to 17. Top-three share: 58.8% to 50.6%. Deposits per branch: $79M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Truist Bank | 1.3B | 20.7% | -9% |
| Wells Fargo Bank | 1.0B | 16.9% | -21% |
| Bank of the James | 0.8B | 12.9% | +19% |
| First National Bank | 0.7B | 10.9% | +30% |
| Select Bank | 0.4B | 6.3% | +56% |
| Atlantic Union Bank | 0.4B | 6.2% | +46% |
| Bank of America | 0.3B | 5.6% | +4% |
| Carter Bank & Trust | 0.3B | 5.4% | +5% |
| The Farmers Bank of Appomattox | 0.2B | 3.9% | +57% |
| First-Citizens Bank & Trust Company | 0.2B | 3.4% | -17% |
The 10 largest of 17 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 |
|---|---|---|---|---|
| Lynchburg city | Virginia | $4,549M | 81,347 | 41.5% |
| Campbell County | Virginia | $3,111M | 55,629 | 28.4% |
| Bedford County | Virginia | $2,101M | 83,059 | 19.2% |
| Amherst County | Virginia | $836M | 31,962 | 7.6% |
| Appomattox County | Virginia | $358M | 17,172 | 3.3% |
Recruiting in Lynchburg
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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