Minot, ND holds $3.4 billion in deposits across 14 insured institutions and 31 branches, ranking #277 of 293 U.S. markets by economic output. First Western Bank & Trust is the largest deposit holder at 32.4% share. The top three institutions hold 56.0% of deposits, which places the market in the moderate band. Deposits have grown 7% since 2020 with the branch count unchanged.
Deposit trend
Branches: 31 in 2020 to 31 in 2025. Institutions: 14 to 14. Top-three share: 58.8% to 56.0%. Deposits per branch: $110M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| First Western Bank & Trust | 1.1B | 32.4% | +17% |
| First International Bank & Trust | 0.5B | 14.8% | +8% |
| Gate City Bank | 0.3B | 8.8% | +44% |
| Bravera Bank | 0.3B | 8.0% | new since 2020 |
| Wells Fargo Bank | 0.2B | 7.0% | -11% |
| Old National Bank | 0.2B | 6.7% | new since 2020 |
| State Bank & Trust of Kenmare | 0.2B | 4.9% | +40% |
| Peoples State Bank of Velva | 0.2B | 4.4% | +38% |
| Cornerstone Bank | 0.1B | 3.1% | new since 2020 |
| U.S. Bank | 0.1B | 3.1% | -18% |
The 10 largest of 14 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 |
|---|---|---|---|---|
| Ward County | North Dakota | $3,984M | 68,233 | 91.3% |
| McHenry County | North Dakota | $202M | 5,130 | 4.6% |
| Renville County | North Dakota | $179M | 2,331 | 4.1% |
Recruiting in Minot
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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