Raleigh-Durham-Cary, NC holds $122.0 billion in deposits across 41 insured institutions and 424 branches, ranking #29 of 293 U.S. markets by economic output. First-Citizens Bank & Trust Company is the largest deposit holder at 53.1% share. The top three institutions hold 71.1% of deposits, which places the market in the concentrated band. Deposits have grown 113% since 2020 while the branch count fell by 19.
Deposit trend
Branches: 443 in 2020 to 424 in 2025. Institutions: 38 to 41. Top-three share: 56.2% to 71.1%. Deposits per branch: $288M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| First-Citizens Bank & Trust Company | 64.8B | 53.1% | +1072% |
| Wells Fargo Bank | 11.3B | 9.2% | -0% |
| Truist Bank | 10.7B | 8.8% | -13% |
| Bank of America | 5.9B | 4.8% | +10% |
| Banc of California | 5.7B | 4.7% | -34% |
| PNC Bank | 4.6B | 3.7% | +26% |
| First Horizon Bank | 2.6B | 2.1% | +78% |
| The Fidelity Bank | 1.7B | 1.4% | +66% |
| First National Bank of Pennsylvania | 1.6B | 1.3% | +68% |
| TowneBank | 1.6B | 1.3% | +40% |
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 |
|---|---|---|---|---|
| Wake County | North Carolina | $104,114M | 1,257,235 | 57.4% |
| Durham County | North Carolina | $44,219M | 347,240 | 24.4% |
| Orange County | North Carolina | $10,392M | 152,498 | 5.7% |
| Johnston County | North Carolina | $8,957M | 256,448 | 4.9% |
| Lee County | North Carolina | $3,269M | 70,258 | 1.8% |
| Harnett County | North Carolina | $3,025M | 150,137 | 1.7% |
| Franklin County | North Carolina | $2,216M | 82,037 | 1.2% |
| Chatham County | North Carolina | $2,216M | 85,111 | 1.2% |
| Person County | North Carolina | $1,697M | 40,636 | 0.9% |
| Vance County | North Carolina | $1,286M | 42,638 | 0.7% |
Recruiting in Raleigh
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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