New Haven-Hartford-Waterbury, CT holds $101.8 billion in deposits across 41 insured institutions and 657 branches, ranking #25 of 293 U.S. markets by economic output. Bank of America is the largest deposit holder at 33.0% share. The top three institutions hold 53.7% of deposits, which places the market in the moderate band.
Deposit trend
Branches: 754 in 2020 to 657 in 2025. Institutions: 44 to 41. Top-three share: 62.0% to 53.7%. Deposits per branch: $155M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Bank of America | 33.7B | 33.0% | +6% |
| Webster Bank | 10.9B | 10.7% | -50% |
| Manufacturers and Traders Trust Company | 10.1B | 9.9% | new since 2020 |
| TD Bank | 7.1B | 7.0% | +14% |
| Liberty Bank | 6.7B | 6.6% | +27% |
| KeyBank | 5.0B | 4.9% | +2% |
| Wells Fargo Bank | 4.1B | 4.0% | -12% |
| Citizens Bank | 3.7B | 3.7% | +21% |
| JPMorgan Chase Bank | 2.0B | 2.0% | +115% |
| Santander Bank | 1.9B | 1.9% | -5% |
The 10 largest of 41 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 |
|---|---|---|---|---|
| Capitol Planning Region | Connecticut | $88,946M | 994,115 | 45.0% |
| South Central Connecticut Planning Region | Connecticut | $40,204M | 578,741 | 20.3% |
| Naugatuck Valley Planning Region | Connecticut | $26,813M | 463,349 | 13.6% |
| Southeastern Connecticut Planning Region | Connecticut | $19,316M | 284,015 | 9.8% |
| Lower Connecticut River Valley Planning Region | Connecticut | $12,908M | 177,311 | 6.5% |
| Northwest Hills Planning Region | Connecticut | $5,185M | 114,690 | 2.6% |
| Northeastern Connecticut Planning Region | Connecticut | $4,355M | 98,096 | 2.2% |
Recruiting in New Haven
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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