Morgantown, WV holds $5.6 billion in deposits across 13 insured institutions and 41 branches, ranking #216 of 293 U.S. markets by economic output. United Bank is the largest deposit holder at 27.9% share. The top three institutions hold 66.5% of deposits, which places the market in the concentrated band. Deposits have grown 48% since 2020 while the branch count fell by 6.
Deposit trend
Branches: 47 in 2020 to 41 in 2025. Institutions: 12 to 13. Top-three share: 59.6% to 66.5%. Deposits per branch: $137M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| United Bank | 1.6B | 27.9% | +36% |
| MVB Bank, Inc | 1.5B | 25.8% | +282% |
| Clear Mountain Bank | 0.7B | 12.9% | +26% |
| The Huntington National Bank | 0.6B | 11.2% | +23% |
| Truist Bank | 0.4B | 6.7% | -31% |
| WesBanco Bank, Inc. | 0.4B | 6.5% | +14% |
| PNC Bank | 0.2B | 4.2% | +69% |
| First United Bank & Trust | 0.1B | 2.2% | +8% |
| Citizens Bank of Morgantown, Inc. | 0.0B | 0.8% | +30% |
| Burke & Herbert Bank & Trust Company | 0.0B | 0.7% | new since 2020 |
The 10 largest of 13 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 |
|---|---|---|---|---|
| Monongalia County | West Virginia | $7,456M | 107,991 | 90.7% |
| Preston County | West Virginia | $766M | 34,004 | 9.3% |
Recruiting in Morgantown
Deposits are held closely by the largest institutions, which often means the bankers worth recruiting are inside a small number of houses. 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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