Toledo, OH holds $15.7 billion in deposits across 22 insured institutions and 154 branches, ranking #84 of 293 U.S. markets by economic output. The Huntington National Bank is the largest deposit holder at 22.5% share. The top three institutions hold 53.7% of deposits, which places the market in the moderate band. Deposits have grown 12% since 2020 while the branch count fell by 11.
Deposit trend
Branches: 165 in 2020 to 154 in 2025. Institutions: 22 to 22. Top-three share: 56.0% to 53.7%. Deposits per branch: $102M.
Leading institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| The Huntington National Bank | 3.5B | 22.5% | +13% |
| Fifth Third Bank | 2.8B | 17.6% | -18% |
| KeyBank | 2.1B | 13.6% | +54% |
| Waterford Bank | 1.2B | 7.9% | +39% |
| Signature Bank | 1.1B | 6.9% | -6% |
| The Farmers & Merchants State Bank | 1.0B | 6.6% | +42% |
| PNC Bank | 1.0B | 6.6% | -6% |
| Citizens Bank | 0.8B | 4.8% | -1% |
| WesBanco Bank, Inc. | 0.7B | 4.4% | new since 2020 |
| The State Bank and Trust Company | 0.3B | 1.9% | +9% |
The 10 largest of 22 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 |
|---|---|---|---|---|
| Lucas County | Ohio | $26,010M | 423,347 | 71.5% |
| Wood County | Ohio | $8,326M | 134,176 | 22.9% |
| Fulton County | Ohio | $2,025M | 41,853 | 5.6% |
Recruiting in Toledo
Deposits are neither closely held nor widely dispersed, which usually leaves room for a well-led team to take share without competing head-on with a dominant holder. 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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