Phoenix-Mesa, AZ holds $181.7 billion in deposits across 58 insured institutions and 674 branches, ranking #13 of 293 U.S. markets by economic output. Western Alliance Bank is the largest deposit holder at 24.8% share. The top three institutions hold 62.0% of deposits, which places the market in the concentrated band. Deposits have grown 34% since 2020 while the branch count fell by 108.
Deposit trend
Branches: 782 in 2020 to 674 in 2025. Institutions: 59 to 58. Top-three share: 64.5% to 62.0%. Deposits per branch: $270M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| Western Alliance Bank | 45.1B | 24.8% | +286% |
| JPMorgan Chase Bank | 38.2B | 21.0% | +11% |
| Wells Fargo Bank | 29.4B | 16.2% | +8% |
| Bank of America | 28.4B | 15.6% | +9% |
| BMO Bank | 4.6B | 2.5% | +10% |
| MidFirst Bank | 4.4B | 2.4% | +67% |
| U.S. Bank | 4.0B | 2.2% | +66% |
| UMB Bank | 3.5B | 1.9% | +221% |
| PNC Bank | 3.4B | 1.9% | new since 2020 |
| Zions Bancorporation | 2.8B | 1.5% | +18% |
The 10 largest of 58 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 |
|---|---|---|---|---|
| Maricopa County | Arizona | $329,776M | 4,689,558 | 95.8% |
| Pinal County | Arizona | $12,745M | 539,380 | 3.7% |
| Gila County | Arizona | $1,821M | 53,801 | 0.5% |
Recruiting in Phoenix
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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