Virginia Beach-Chesapeake, VA-NC, a Combined Statistical Area, holds $32.8 billion in deposits across 25 insured institutions and 263 branches, ranking #39 of 293 U.S. markets by economic output. TowneBank is the largest deposit holder at 30.6% share. The top three institutions hold 62.9% 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: 334 in 2020 to 263 in 2025. Institutions: 26 to 25. Top-three share: 67.8% to 62.9%. Deposits per branch: $125M.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr |
|---|---|---|---|
| TowneBank | $10.0B | 30.6% | +25% |
| Truist Bank | $5.4B | 16.4% | -25% |
| Wells Fargo Bank | $5.2B | 16.0% | -15% |
| Bank of America | $4.1B | 12.4% | +11% |
| Atlantic Union Bank | $1.5B | 4.6% | +14% |
| The Old Point National Bank of Phoebus | $1.2B | 3.7% | +19% |
| Southern Bank and Trust Company | $1.0B | 3.2% | +40% |
| PNC Bank | $1.0B | 3.0% | +36% |
| Chesapeake Bank | $0.8B | 2.5% | +40% |
| Dollar Bank, Federal Savings Bank | $0.4B | 1.1% | +88% |
| First National Bank of Pennsylvania | $339M | 1.0% | +42% |
| Citizens and Farmers Bank | $335M | 1.0% | +26% |
| Fulton Bank | $271M | 0.8% | -2% |
| Primis Bank | $265M | 0.8% | +19% |
| JPMorgan Chase Bank | $156M | 0.5% | no 2020 presence |
| First Bank | $144M | 0.4% | +249% |
| First-Citizens Bank & Trust Company | $141M | 0.4% | +26% |
| First Carolina Bank | $115M | 0.4% | no 2020 presence |
| United Bank | $112M | 0.3% | +30% |
| Blue Ridge Bank | $82M | 0.2% | no 2020 presence |
| ServisFirst Bank | $78M | 0.2% | no 2020 presence |
| Integrity Bank for Business | $63M | 0.2% | no 2020 presence |
| Woodforest National Bank | $47M | 0.1% | +28% |
| The Bank of Southside Virginia | $14M | 0.0% | -26% |
| AMG National Trust Bank | $0M | 0.0% | no 2020 presence |
The 25 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
| County | State | GDP | Population | Share of Market GDP | |
|---|---|---|---|---|---|
| Virginia Beach city | Virginia | $25.8B | 453,737 | 23.5% | 26.6% |
| Norfolk city | Virginia | $21.1B | 231,013 | 19.2% | 14.4% |
| Newport News city | Virginia | $15.5B | 183,230 | 14.1% | 8.0% |
| Chesapeake city | Virginia | $11.9B | 255,332 | 10.8% | 10.9% |
| Hampton city | Virginia | $7.3B | 137,315 | 6.6% | 4.4% |
| Portsmouth city | Virginia | $6.0B | 96,777 | 5.5% | 5.4% |
| James City County | Virginia | $5.0B | 83,326 | 4.5% | 6.9% |
| Suffolk city | Virginia | $4.5B | 104,699 | 4.1% | 4.6% |
| York County | Virginia | $2.6B | 71,374 | 2.4% | 3.3% |
| Dare County | North Carolina | $2.4B | 38,245 | 2.1% | 5.9% |
| 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% | 1.6% |
| Currituck County | North Carolina | $874M | 33,158 | 0.8% | 0.7% |
| 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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