Milwaukee-Racine-Waukesha, WI holds $87.8 billion in deposits across 59 insured institutions and 544 branches, ranking #37 of 293 U.S. markets by economic output. U.S. Bank is the largest deposit holder at 30.2% share. The top three institutions hold 53.5% of deposits, which places the market in the moderate band.
Deposit trend
Branches: 611 in 2020 to 544 in 2025. Institutions: 64 to 59. Top-three share: 57.1% to 53.5%. Deposits per branch: $161M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| U.S. Bank | 26.6B | 30.2% | -3% |
| BMO Bank | 11.6B | 13.2% | -9% |
| Associated Bank | 8.9B | 10.1% | +28% |
| JPMorgan Chase Bank | 8.7B | 9.9% | -10% |
| Town Bank | 3.4B | 3.9% | +43% |
| Johnson Bank | 2.9B | 3.3% | +12% |
| Bank Five Nine | 2.1B | 2.4% | +103% |
| PNC Bank | 1.8B | 2.0% | -28% |
| Tri City National Bank | 1.6B | 1.9% | +14% |
| Wells Fargo Bank | 1.6B | 1.9% | -58% |
The 10 largest of 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; an acquirer absorbs the balances of banks it bought.
Counties in this market
| County | State | GDP | Population | Share of GDP |
|---|---|---|---|---|
| Milwaukee County | Wisconsin | $62,656M | 924,216 | 48.3% |
| Waukesha County | Wisconsin | $32,896M | 417,210 | 25.4% |
| Racine County | Wisconsin | $9,100M | 198,919 | 7.0% |
| Washington County | Wisconsin | $7,002M | 139,238 | 5.4% |
| Ozaukee County | Wisconsin | $5,528M | 94,346 | 4.3% |
| Walworth County | Wisconsin | $4,859M | 106,127 | 3.7% |
| Dodge County | Wisconsin | $3,798M | 89,097 | 2.9% |
| Jefferson County | Wisconsin | $3,792M | 86,505 | 2.9% |
Recruiting in Milwaukee
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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