Virginia Beach-Chesapeake, VA-NC, a Combined Statistical Area, holds $34.0 billion in deposits across 26 insured institutions and 257 branches, and ranks #39 of 293 U.S. markets by economic output. TowneBank is the largest deposit holder at 34.3% share. The top three banks hold 66% of deposits, which places the market in the Concentrated band.
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: 308 in 2021 to 257 in 2026. Institutions: 27 to 26. Top-three share: 66% to 66%. Average deposits per branch: $132M.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| TowneBank | $11.7B | 34.3% | +8% |
| Truist Bank | $5.5B | 16.1% | -15% |
| Wells Fargo Bank | $5.3B | 15.6% | -19% |
| Bank of America | $4.0B | 11.9% | -3% |
| Atlantic Union Bank | $1.6B | 4.8% | +18% |
| Southern Bank and Trust Company | $1.1B | 3.4% | +15% |
| PNC Bank | $1.0B | 3.0% | +18% |
| Chesapeake Bank | $857M | 2.5% | +26% |
| Dollar Bank, Federal Savings Bank | $368M | 1.1% | +85% |
| First National Bank of Pennsylvania | $360M | 1.1% | +27% |
| Citizens and Farmers Bank | $336M | 1.0% | +12% |
| Fulton Bank | $285M | 0.8% | -6% |
| Primis Bank | $268M | 0.8% | -2% |
| JPMorgan Chase Bank | $247M | 0.7% | no 2021 presence |
| First Carolina Bank | $194M | 0.6% | +611% |
| First Bank | $157M | 0.5% | -13% |
| First-Citizens Bank & Trust Company | $147M | 0.4% | +10% |
| United Bank | $118M | 0.3% | +19% |
| Blue Ridge Bank | $87M | 0.3% | -22% |
| ServisFirst Bank | $87M | 0.3% | no 2021 presence |
| Integrity Bank for Business | $71M | 0.2% | +1,970% |
| Woodforest National Bank | $49M | 0.1% | +13% |
| SouthState Bank | $18M | 0.1% | no 2021 presence |
| The Bank of Southside Virginia | $15M | <0.1% | -31% |
| New Horizon Bank | $13M | <0.1% | no 2021 presence |
| AMG National Trust Bank | $0M | 0.0% | no 2021 presence |
The 26 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 | |
|---|---|---|---|---|---|
| Virginia Beach city | Virginia | $25.8B | 453,737 | 23.5% | 27.4% |
| Norfolk city | Virginia | $21.1B | 231,013 | 19.2% | 14.4% |
| Newport News city | Virginia | $15.5B | 183,230 | 14.1% | 8.5% |
| Chesapeake city | Virginia | $11.9B | 255,332 | 10.8% | 10.8% |
| Hampton city | Virginia | $7.3B | 137,315 | 6.6% | 3.9% |
| Portsmouth city | Virginia | $6.0B | 96,777 | 5.5% | 5.0% |
| James City County | Virginia | $5.0B | 83,326 | 4.5% | 6.7% |
| Suffolk city | Virginia | $4.5B | 104,699 | 4.1% | 4.7% |
| York County | Virginia | $2.6B | 71,374 | 2.4% | 2.9% |
| Dare County | North Carolina | $2.4B | 38,245 | 2.1% | 5.8% |
| Pasquotank County | North Carolina | $1.7B | 42,201 | 1.5% | 2.6% |
| Isle of Wight County | Virginia | $1.3B | 41,321 | 1.2% | 1.5% |
| Surry County | Virginia | $1.2B | 6,603 | 1.0% | 0.1% |
| Gloucester County | Virginia | $1.0B | 40,097 | 0.9% | 2.0% |
| Williamsburg city | Virginia | $950M | 15,861 | 0.9% | 1.7% |
| Currituck County | North Carolina | $874M | 33,158 | 0.8% | 0.9% |
| Poquoson city | Virginia | $484M | 13,292 | 0.4% | 0.2% |
| Mathews County | Virginia | $199M | 8,529 | 0.2% | 0.5% |
| Gates County | North Carolina | $183M | 10,234 | 0.2% | 0.1% |
| Camden County | North Carolina | $172M | 11,315 | 0.2% | 0.3% |
Recruiting in the Virginia Beach-Chesapeake 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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