Market Intelligence

Minneapolis-St. Paul, MN-WI

Banking market profile · FDIC Summary of Deposits (SOD), June 30, 2026
Market Intelligence › Minneapolis-St. Paul, MN-WI

Minneapolis-St. Paul, MN-WI, a Combined Statistical Area, holds $266.6 billion in deposits across 151 insured institutions and 866 branches, and ranks #16 of 293 U.S. markets by economic output. U.S. Bank is the largest deposit holder at 39.0% share. The top three banks hold 68% of deposits, which places the market in the Concentrated band. Deposits have grown 13.7% since 2021 while the branch count fell by 1.4%.

Economic scale
2024 Real GDP
$314.1B
#16 of 293
Population
4.19M
#16 of 293
GDP per Capita
$74,996
#20 of 293
Deposit market
Deposits (SOD, 6/30/26)
$266.6B
#15 of 293
Deposits per Capita
$63,642
#14 of 293
Deposits per Branch
$308M
#16 of 293
Competitive structure
Insured Institutions
151
#4 of 293
Branches per 100k Pop.
20.7
#188 of 293
Median Deposits per Institution
$243M
The median deposits booked by a single institution in the market. #118 of 293. A lower figure means institutions typically hold smaller deposit positions here; it reflects local deposit presence, not an institution’s overall size. See Community & Regional Bank Share for institution scale.
Community & Regional Bank Share
34.5%
of market deposits held by banks with $100M to $100B in assets. #243 of 293. A higher share points to a market where small to mid-size institutions, the kind that compete on relationships and local decision-making, hold more ground.
Top-3 Banks’ Deposit Share: Concentrated
68%
The combined deposit share of the top three banks by deposits in the market. A lower share means deposits are spread across more institutions.

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

Market Deposits (SOD, 2021 to 2026) +13.7% over 5 years
$234.4B
2021
$244.5B
2022
$250.0B
2023
$261.1B
2024
$246.2B
2025
$266.6B
2026

Branches: 878 in 2021 to 866 in 2026. Institutions: 171 to 151. Top-three share: 66% to 68%. Average deposits per branch: $308M.

Institutions by deposits

InstitutionDepositsShare Branches5‑yr
deposits
U.S. Bank$104.0B39.0%82+36%
Wells Fargo Bank$52.9B19.9%93-24%
Ameriprise Bank, FSB$23.9B9.0%2+176%
Old National Bank$8.2B3.1%48-21%
The Huntington National Bank$6.8B2.5%59+2%
Bell Bank$4.9B1.8%7+92%
BMO Bank$4.8B1.8%22-45%
Bank of America$4.4B1.7%23-14%
Bridgewater Bank$4.4B1.6%10+46%
Associated Bank$3.7B1.4%25+1%
Choice Financial Group$3.0B1.1%4+208%
Alerus Financial$2.0B0.7%7+35%
Stearns Bank$2.0B0.7%3+61%
Tradition Capital Bank$1.9B0.7%3+60%
Nicolet National Bank$1.2B0.5%15-11%
JPMorgan Chase Bank$1.2B0.5%46+341%
Frandsen Bank & Trust$1.2B0.5%14+27%
Security Bank & Trust Company$1.2B0.4%25+15%
North American Banking Company$1.1B0.4%6+34%
Premier Bank$1.0B0.4%8+16%
Merchants Bank$890M0.3%9-5%
Sunrise Banks$813M0.3%3-39%
Vermillion State Bank$807M0.3%6+20%
Falcon National Bank$769M0.3%6+18%
Northeast Bank$761M0.3%3+9%
Minnwest Bank$751M0.3%6+36%
First Resource Bank$744M0.3%7+3%
MidCountry Bank$732M0.3%12+1%
VersaBank USA$676M0.3%2+725%
The Bank of Elk River$661M0.2%4+19%
21st Century Bank$659M0.2%8+27%
Highland Bank$640M0.2%7+7%
United Bankers' Bank$636M0.2%1-20%
First Bank & Trust$611M0.2%6+23%
Platinum Bank$601M0.2%2+54%
Deerwood Bank$519M0.2%5+17%
Dacotah Bank$501M0.2%1no 2021 presence
UMB Bank$483M0.2%2-37%
EntreBank$474M0.2%1no 2021 presence
Community Resource Bank$472M0.2%4-4%
Hiawatha National Bank$466M0.2%5+27%
Lake Elmo Bank$463M0.2%8+1%
First State Bank and Trust$455M0.2%4+44%
CorTrust Bank$438M0.2%15-16%
First Farmers & Merchants Bank$437M0.2%7+13%
BankVista$426M0.2%2+37%
Scale Bank$423M0.2%1-19%
HomeTown Bank$420M0.2%7+44%
Luminate Bank$384M0.1%1+527%
American Heritage National Bank$372M0.1%5+15%
Alliance Bank$367M0.1%2-5%
Village Bank$366M0.1%4-7%
Sentry Bank$365M0.1%4+61%
Citizens State Bank$364M0.1%4+63%
Premier Bank Minnesota$362M0.1%8+16%
North Star Bank$341M0.1%2+9%
BankCherokee$333M0.1%3-2%
Crown Bank$333M0.1%2+25%
The State Bank of Faribault$301M0.1%3+14%
Citizens Bank & Trust Co.$297M0.1%3-5%
Sherburne State Bank$290M0.1%4+52%
Granite Bank$289M0.1%2+43%
The First National Bank of River Falls$287M0.1%3-1%
First National Community Bank$283M0.1%3+14%
Reliance Bank$282M0.1%1+61%
First Bank Elk River$270M0.1%4-6%
Gateway Bank$270M0.1%2+10%
Citizens Independent Bank$267M0.1%4-16%
Eagle Rock Bank$267M0.1%3+61%
Think Mutual Bank$266M0.1%3-1%
Liberty Bank Minnesota$263M0.1%60%
The First National Bank of Milaca$260M0.1%4+7%
Harvest Bank$258M0.1%4+18%
Castle Rock Bank$250M0.1%3+18%
Woodlands National Bank$247M0.1%4-9%
West Bank$243M0.1%2+94%
Union Bank and Trust Company$231M0.1%1+24%
Bankwest$218M0.1%3+4%
Drake Bank$212M0.1%1+42%
Kensington Bank$209M0.1%3+23%
Security State Bank of Marine$206M0.1%4+26%
Lake Central Bank$200M0.1%2+13%
Star Bank$198M0.1%3+21%
Lakeview Bank$196M0.1%2+50%
Farmers State Bank of Hamel$185M0.1%2+11%
VisionBank$184M0.1%1+19%
New Market Bank$178M0.1%30%
Minnesota National Bank$172M0.1%1+13%
Pillar Bank$153M0.1%3-6%
Freeport State Bank$148M0.1%3+19%
PrinsBank$144M0.1%3+15%
The First National Bank of Le Center$140M0.1%2+18%
The First State Bank of Rosemount$138M0.1%2+63%
United Prairie Bank$138M0.1%1+13%
Pine Country Bank$138M0.1%3-12%
Commerce Bank$134M0.1%1-37%
Cornerstone State Bank$130M<0.1%3+7%
The First National Bank of Cokato$128M<0.1%1+45%
River Falls State Bank$128M<0.1%1+20%
Citizens State Bank Norwood Young America$127M<0.1%1+27%
First National Bank Minnesota$125M<0.1%10%
Coulee Bank$125M<0.1%2+95%
Farmers & Merchants Savings Bank$122M<0.1%2+3%
Citizens Alliance Bank$116M<0.1%2+17%
Minnesota Lakes Bank$113M<0.1%2-13%
Key Community Bank$108M<0.1%1+69%
Great Southern Bank$107M<0.1%4-50%
Park State Bank$105M<0.1%1+77%
National Bank of Commerce$100M<0.1%2+12%
Security State Bank of Wanamingo$97M<0.1%1+47%
Profinium, Inc.$96M<0.1%1-12%
Community Bank Owatonna$95M<0.1%1+37%
CCFBank$93M<0.1%2-27%
Border Bank$92M<0.1%1+2%
Americana Community Bank$90M<0.1%3+18%
Prime Security Bank$89M<0.1%2+87%
Sterling State Bank$89M<0.1%3+1%
Unity Bank$87M<0.1%2-21%
The Northern Trust Company$80M<0.1%1+118%
Bank of Maple Plain$75M<0.1%1-23%
Manufacturers Bank & Trust Company$74M<0.1%1-8%
State Bank of Cold Spring$74M<0.1%1+1%
First Western Bank & Trust$68M<0.1%1-34%
Elysian Bank$66M<0.1%1+20%
First State Bank of Le Center$66M<0.1%1+2%
Security State Bank of Kenyon$63M<0.1%1-5%
Heritage Bank Minnesota$63M<0.1%2+128%
First Independence Bank$61M<0.1%2no 2021 presence
Farmers and Merchants State Bank of Pierz$61M<0.1%1+4%
Bonanza Valley State Bank$59M<0.1%1-6%
First International Bank & Trust$58M<0.1%1no 2021 presence
Bravera Bank$57M<0.1%1-15%
The First State Bank of Red Wing$55M<0.1%2-8%
Citizens Bank Minnesota$52M<0.1%1-21%
Keen Bank$50M<0.1%2+24%
Neighborhood National Bank$48M<0.1%1+1%
First National Bank$48M<0.1%2-5%
Perennial Bank$46M<0.1%1+21%
First Farmers & Merchants National Bank$45M<0.1%1-32%
Security Financial Bank$43M<0.1%1+11%
American National Bank of Minnesota$38M<0.1%1-31%
Pine River State Bank$33M<0.1%1+28%
Center National Bank$31M<0.1%2+65%
Lake Country Community Bank$28M<0.1%2-6%
Home State Bank$27M<0.1%1-5%
St. Martin National Bank$25M<0.1%1-11%
Gate City Bank$22M<0.1%4+565%
Grand Marais State Bank$15M<0.1%1+71%
Minnesota First Credit and Savings, Incorporated$5M<0.1%2-42%
Wilmington Trust$0M0.0%1no 2021 presence
Thrivent Trust Company$0M0.0%1no 2021 presence

The 151 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

CountyStateGDP PopulationShare of Market GDP Share of Market Deposits
Hennepin CountyMinnesota$155.0B1,284,78449.4%54.1%
Ramsey CountyMinnesota$45.2B541,62314.4%26.1%
Dakota CountyMinnesota$29.5B457,7109.4%3.7%
Anoka CountyMinnesota$15.7B381,6055.0%2.3%
Washington CountyMinnesota$13.1B286,8954.2%2.7%
Stearns CountyMinnesota$9.7B164,1103.1%2.7%
Scott CountyMinnesota$8.3B159,0172.6%1.0%
Carver CountyMinnesota$6.0B114,3791.9%1.1%
Wright CountyMinnesota$5.5B157,5591.7%1.1%
St. Croix CountyWisconsin$4.5B98,2761.4%0.8%
Sherburne CountyMinnesota$3.7B104,1941.2%0.6%
Rice CountyMinnesota$3.1B69,9391.0%0.7%
Goodhue CountyMinnesota$3.0B48,1951.0%0.5%
Steele CountyMinnesota$2.2B37,4640.7%0.4%
McLeod CountyMinnesota$1.8B36,6310.6%0.5%
Benton CountyMinnesota$1.8B41,7440.6%0.3%
Chisago CountyMinnesota$1.7B59,1420.5%0.3%
Isanti CountyMinnesota$1.2B44,3860.4%0.2%
Pierce CountyWisconsin$1.2B43,5190.4%0.3%
Le Sueur CountyMinnesota$936M29,4530.3%0.3%
Mille Lacs CountyMinnesota$889M27,7530.3%0.3%

Recruiting in the Minneapolis-St. Paul market

Deposits are held closely by the largest banks, which often means the bankers worth recruiting are inside a small number of institutions. 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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Other markets in Minnesota and Wisconsin

All 293 markets and the 1,523 counties with a branch within a CSA or MSA are covered in the Market Intelligence resource. See the methodology for how each figure is built and when to expect updates, or the disclaimer for how this data should, and should not, be read.