Sheboygan, WI, a Metropolitan Statistical Area, holds $3.0 billion in deposits across 13 insured institutions and 29 branches, and ranks #239 of 293 U.S. markets by economic output. Bank First is the largest deposit holder at 22.7% share. The top three banks hold 46% of deposits, which places the market in the Moderate band. Deposits have grown 5.4% since 2021 while the branch count fell by 17.1%.
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
Branches: 35 in 2021 to 29 in 2026. Institutions: 15 to 13. Top-three share: 42% to 46%. Average deposits per branch: $103M.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Bank First | $677M | 22.7% | +22% |
| Oostburg State Bank | $388M | 13.0% | +37% |
| UMB Bank | $295M | 9.9% | -14% |
| Wells Fargo Bank | $288M | 9.7% | -6% |
| Associated Bank | $263M | 8.8% | -1% |
| U.S. Bank | $217M | 7.3% | -5% |
| National Exchange Bank and Trust | $215M | 7.2% | +17% |
| BMO Bank | $213M | 7.1% | -18% |
| Waldo State Bank | $127M | 4.3% | +35% |
| Cleveland State Bank | $97M | 3.2% | +80% |
| Hiawatha National Bank | $79M | 2.6% | +138% |
| Johnson Bank | $67M | 2.3% | +4% |
| Collins State Bank | $56M | 1.9% | +59% |
The 13 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
| County | State | GDP | Population | Share of Market GDP | |
|---|---|---|---|---|---|
| Sheboygan County | Wisconsin | $7.2B | 118,047 | 100.0% | 100.0% |
Recruiting in the Sheboygan market
Deposits are moderately concentrated here, held by a mix of institutions rather than dominated by one. 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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