Market Intelligence

New York-Newark, NY-NJ-CT-PA

Banking market profile · FDIC Summary of Deposits, June 30, 2025
Market Intelligence › New York-Newark, NY-NJ-CT-PA

New York-Newark, NY-NJ-CT-PA holds $2,886.8 billion in deposits across 176 insured institutions and 4,761 branches, ranking #1 of 293 U.S. markets by economic output. JPMorgan Chase Bank is the largest deposit holder at 33.7% share. The top three institutions hold 49.4% of deposits, which places the market in the moderate band. Deposits have grown 19% since 2020 while the branch count fell by 890.

$2,131.2B
2024 GDP
$2,886.8B
Deposits
176
Institutions
49.4%
Top-3 share

Deposit trend

Total market deposits, 2020 to 2025 +19.3% over 5 years
$2,419.7B
20
$2,716.8B
21
$2,920.3B
22
$2,702.8B
23
$2,705.6B
24
$2,886.8B
25

Branches: 5,651 in 2020 to 4,761 in 2025. Institutions: 205 to 176. Top-three share: 46.9% to 49.4%. Deposits per branch: $606M.

Leading institutions by deposits

InstitutionDepositsShare Branches5‑yr
JPMorgan Chase Bank971.7B33.7%731+26%
The Bank of New York Mellon227.7B7.9%5+33%
Goldman Sachs Bank USA226.1B7.8%2+45%
Morgan Stanley Private Bank212.5B7.4%1+126%
Bank of America194.5B6.7%384+2%
Citibank116.8B4.0%235-8%
HSBC Bank USA106.2B3.7%8-16%
TD Bank95.9B3.3%393+8%
Wells Fargo Bank78.6B2.7%271+11%
Webster Bank53.2B1.8%95+2456%

The 10 largest of 176 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

CountyStateGDP PopulationShare of GDP Share of deposits
New York CountyNew York$813,692M1,664,86238.2%61.5%
Kings CountyNew York$114,696M2,653,9635.4%2.4%
Queens CountyNew York$111,144M2,358,1825.2%2.7%
Suffolk CountyNew York$108,243M1,546,0905.1%2.2%
Nassau CountyNew York$100,703M1,398,9394.7%3.3%
Westchester CountyNew York$93,324M1,015,7434.4%9.5%
Bergen CountyNew Jersey$83,505M977,0263.9%2.4%
Middlesex CountyNew Jersey$70,024M883,3353.3%1.8%
Western Connecticut Planning RegionConnecticut$61,223M640,4822.9%2.2%
Essex CountyNew Jersey$60,969M896,3792.9%1.0%
Morris CountyNew Jersey$60,718M524,2512.8%0.9%
Hudson CountyNew Jersey$52,090M735,0332.4%1.7%
Mercer CountyNew Jersey$46,590M399,2892.2%0.8%
Somerset CountyNew Jersey$45,798M356,4862.1%0.6%
Bronx CountyNew York$45,350M1,406,3322.1%0.6%
Monmouth CountyNew Jersey$41,972M651,0352.0%1.0%
Union CountyNew Jersey$41,397M601,8631.9%0.8%
Greater Bridgeport Planning RegionConnecticut$27,210M337,6971.3%0.5%
Ocean CountyNew Jersey$24,597M673,7461.2%0.8%
Passaic CountyNew Jersey$22,769M531,6241.1%0.9%
Orange CountyNew York$21,476M417,6691.0%0.4%
Rockland CountyNew York$19,026M357,3970.9%0.5%
Richmond CountyNew York$18,159M501,2900.9%0.6%
Dutchess CountyNew York$15,975M300,7080.7%0.3%
Ulster CountyNew York$8,099M183,3300.4%0.2%
Hunterdon CountyNew Jersey$7,859M131,7810.4%0.2%
Sussex CountyNew Jersey$5,258M148,0630.2%0.2%
Putnam CountyNew York$4,280M99,0280.2%0.1%
Sullivan CountyNew York$3,483M80,5860.2%0.1%
Pike CountyPennsylvania$1,543M62,8080.1%0.0%

Recruiting in New York

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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