Market Intelligence

Rochester-Austin-Winona, MN

Banking market profile · FDIC Summary of Deposits, June 30, 2025
Market Intelligence › Rochester-Austin-Winona, MN

Rochester-Austin-Winona, MN, a Combined Statistical Area, holds $9.7 billion in deposits across 37 insured institutions and 108 branches, ranking #136 of 293 U.S. markets by economic output. Think Mutual Bank is the largest deposit holder at 15.7% share. The top three institutions hold 39.0% of deposits, which places the market in the fragmented band. Deposits have grown 14.0% since 2020 while the branch count fell by 6.1%.

Economic scale
2024 Real GDP
$19.9B
#136 of 293
Population
323K
#142 of 293
GDP per Capita
$61,559
#79 of 293
Deposit market
Total Deposits
$9.7B
#128 of 293
Deposits per Capita
$30,061
#109 of 293
Deposits per Branch
$89M
#205 of 293
Competitive structure
Insured Institutions
37
#69 of 293
Branches per 100k Pop.
33.5
#61 of 293
Median Deposits per Institution
$114M
The median deposits booked by a single institution in the market. #254 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
69.9%
of market deposits held by banks with $100M to $50B in assets. #94 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 Deposit Share: fragmented
39%
The combined deposit share of the three largest institutions 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

Total market deposits (nominal), 2020 to 2025 +14.0% over 5 years
$8.5B
2020
$9.5B
2021
$10.1B
2022
$9.4B
2023
$9.5B
2024
$9.7B
2025

Branches: 115 in 2020 to 108 in 2025. Institutions: 38 to 37. Top-three share: 42.0% to 39.0%. Deposits per branch: $89M.

Institutions by deposits

InstitutionDepositsShare Branches5‑yr
Think Mutual Bank$1.5B15.7%6+17%
Wells Fargo Bank$1.3B13.1%6-11%
Merchants Bank$1.0B10.2%8+16%
U.S. Bank$0.6B6.6%5-5%
Alerus Financial$0.6B6.2%8no 2020 presence
Old National Bank$0.6B5.9%7-12%
WNB Financial$0.5B4.7%5+14%
Foresight Bank$0.3B3.5%3+44%
Premier Bank Minnesota$0.3B2.8%4no 2020 presence
Peoples State Bank of Plainview$0.3B2.7%3+32%
Sterling State Bank$256M2.6%3+6%
West Bank$223M2.3%1+106%
Associated Bank$216M2.2%3+43%
Eagle Rock Bank$213M2.2%2+112%
Manufacturers Bank & Trust Company$210M2.2%5+492%
F & M Community Bank$179M1.9%3+27%
United Farmers State Bank$171M1.8%3+35%
Minnwest Bank$151M1.6%6+13%
First Security Bank$114M1.2%1+65%
First Southeast Bank$107M1.1%3+19%
Alliance Bank$106M1.1%1+31%
Rushford State Bank (Incorporated)$99M1.0%1+76%
First Farmers & Merchants State Bank of Grand Meadow$87M0.9%3+44%
First State Bank Minnesota$85M0.9%2+29%
First Farmers & Merchants State Bank$80M0.8%2+15%
Root River State Bank$77M0.8%1+17%
Forward Bank$66M0.7%1no 2020 presence
First National Bank$58M0.6%2+67%
Heritage Bank Minnesota$53M0.6%1+59%
First State Bank of Fountain$36M0.4%1+16%
Coulee Bank$32M0.3%1+138%
Bank of Alma$30M0.3%1-9%
The First State Bank of Red Wing$29M0.3%1+27%
BMO Bank$25M0.3%1+3%
Luminate Bank$25M0.3%1+47%
Oakwood Bank$20M0.2%1no 2020 presence
Minnesota First Credit and Savings, Incorporated$17M0.2%2+50%

The 37 insured institutions with a branch presence, as of June 30, 2025. Five-year change compares the same institution’s deposits in 2020 and 2025. 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 2020 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
Olmsted CountyMinnesota$12.9B166,73165.0%56.3%
Mower CountyMinnesota$2.4B40,97112.0%8.2%
Winona CountyMinnesota$2.3B50,52311.7%15.1%
Wabasha CountyMinnesota$825M21,5374.2%8.7%
Dodge CountyMinnesota$765M21,3763.9%3.7%
Fillmore CountyMinnesota$649M21,5403.3%8.0%

Recruiting in the Rochester-Austin-Winona market

No single institution dominates deposits here, which often means more competitors of a size where a well-positioned team has room to compete. 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 Minnesota

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.