Market Intelligence

Raleigh-Durham-Cary, NC

Banking market profile · FDIC Summary of Deposits (SOD), June 30, 2026
Market Intelligence › Raleigh-Durham-Cary, NC

Raleigh-Durham-Cary, NC, a Combined Statistical Area, holds $132.2 billion in deposits across 40 insured institutions and 429 branches, and ranks #29 of 293 U.S. markets by economic output. First-Citizens Bank & Trust Company is the largest deposit holder at 54.8% share. The top three banks hold 71% of deposits, which places the market in the Concentrated band. Deposits have grown 88.7% since 2021 while the branch count fell by 1.4%.

Economic scale
2024 Real GDP
$181.4B
#29 of 293
Population
2.48M
#33 of 293
GDP per Capita
$73,016
#25 of 293
Deposit market
Deposits (SOD, 6/30/26)
$132.2B
#26 of 293
Deposits per Capita
$53,202
#19 of 293
Deposits per Branch
$308M
#15 of 293
Competitive structure
Insured Institutions
40
#60 of 293
Branches per 100k Pop.
17.3
#240 of 293
Median Deposits per Institution
$284M
The median deposits booked by a single institution in the market. #93 of 293. A lower figure means institutions typically hold smaller deposit positions here; it reflects local deposit presence, not an institution’s overall size. See Community & Regional Bank Share for institution scale.
Community & Regional Bank Share
17.2%
of market deposits held by banks with $100M to $100B in assets. #283 of 293. A higher share points to a market where small to mid-size institutions, the kind that compete on relationships and local decision-making, hold more ground.
Top-3 Banks’ Deposit Share: Concentrated
71%
The combined deposit share of the top three banks by deposits in the market. A lower share means deposits are spread across more institutions.

Ranks show where the market stands among the 293 markets (Combined and Metropolitan Statistical Areas). They describe relative position, not a rating of market quality or suitability.

Deposit trend

Market Deposits (SOD, 2021 to 2026) +88.7% over 5 years
$70.1B
2021
$83.9B
2022
$103.1B
2023
$113.9B
2024
$122.0B
2025
$132.2B
2026
Most of this change traces to one institution, First-Citizens Bank & Trust Company, rather than to broad market growth. Large single-institution changes usually reflect where balances are booked, following a merger, acquisition, or internal reorganization, rather than lending or deposit-gathering in the local economy. Read this trend with that in mind.

Branches: 435 in 2021 to 429 in 2026. Institutions: 43 to 40. Top-three share: 56% to 71%. Average deposits per branch: $308M.

Institutions by deposits

InstitutionDepositsShare Branches5‑yr
deposits
First-Citizens Bank & Trust Company$72.5B54.8%37+1,065%
Truist Bank$10.9B8.3%57-14%
Wells Fargo Bank$10.5B8.0%47-12%
Banc of California$7.1B5.4%1-52%
Bank of America$5.9B4.5%28-5%
PNC Bank$5.1B3.8%28+26%
First Horizon Bank$2.4B1.8%24-5%
TowneBank$2.1B1.6%6+32%
The Fidelity Bank$1.8B1.3%19+40%
First National Bank of Pennsylvania$1.6B1.2%21+17%
Pinnacle Bank$1.4B1.1%10+64%
Fifth Third Bank$1.4B1.1%29+65%
JPMorgan Chase Bank$1.4B1.1%25+314%
First Carolina Bank$1.4B1.1%2+243%
First Bank$1.3B1.0%12+22%
North State Bank$1.1B0.9%6+9%
United Community Bank$930M0.7%9+23%
KS Bank, Inc.$623M0.5%9+83%
Mechanics & Farmers Bank$323M0.2%5+52%
Roxboro Savings Bank, SSB$293M0.2%2+31%
Southern First Bank$275M0.2%1+192%
First Federal Bank$251M0.2%7+33%
HomeTrust Bank$182M0.1%2+102%
Southern Bank and Trust Company$168M0.1%3+69%
Regions Bank$154M0.1%1-22%
Benchmark Community Bank$145M0.1%4+137%
SouthState Bank$134M0.1%2+173%
Carter Bank & Trust$116M0.1%4+32%
The Huntington National Bank$111M0.1%1no 2021 presence
Piedmont Federal Savings Bank$110M0.1%1+30%
United Bank$107M0.1%2+25%
Atlantic Union Bank$71M0.1%1+30%
Woodforest National Bank$67M0.1%14+7%
Capital Bank$58M<0.1%1no 2021 presence
Providence Bank$41M<0.1%1+644%
Farmers & Merchants Bank$34M<0.1%1+6,052%
The First Bank and Trust Company$34M<0.1%1no 2021 presence
TD Bank$25M<0.1%1no 2021 presence
First Bank$17M<0.1%1-31%
FSNB$5M<0.1%3-19%

The 40 insured institutions with a branch presence in this market, per the FDIC Summary of Deposits, June 30, 2026. Five-year change compares the same institution’s deposits in 2021 and 2026. Institutions are tracked by FDIC certificate number, and where an institution acquired another bank, the acquired bank’s prior deposits are folded into the baseline so the change reflects the combined, continuing franchise rather than reading as new. “No 2021 presence” means neither the institution nor a bank it later absorbed reported deposits in this market that year. Deposit figures are nominal and are not adjusted for inflation.

Counties in this market

CountyStateGDP PopulationShare of Market GDP Share of Market Deposits
Wake CountyNorth Carolina$104.1B1,257,23557.4%80.5%
Durham CountyNorth Carolina$44.2B347,24024.4%9.9%
Orange CountyNorth Carolina$10.4B152,4985.7%2.8%
Johnston CountyNorth Carolina$9.0B256,4484.9%2.5%
Lee CountyNorth Carolina$3.3B70,2581.8%1.0%
Harnett CountyNorth Carolina$3.0B150,1371.7%1.1%
Franklin CountyNorth Carolina$2.2B82,0371.2%0.4%
Chatham CountyNorth Carolina$2.2B85,1111.2%0.8%
Person CountyNorth Carolina$1.7B40,6360.9%0.5%
Vance CountyNorth Carolina$1.3B42,6380.7%0.3%

Recruiting in the Raleigh-Durham-Cary market

Deposits are held closely by the largest banks, which often means the bankers worth recruiting are inside a small number of institutions. 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.

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Other markets in North Carolina

All 293 markets and the 1,523 counties with a branch within a CSA or MSA are covered in the Market Intelligence resource. See the methodology for how each figure is built and when to expect updates, or the disclaimer for how this data should, and should not, be read.