Waterloo-Cedar Falls, IA, a Metropolitan Statistical Area, holds $4.7 billion in deposits across 23 insured institutions and 56 branches, and ranks #202 of 293 U.S. markets by economic output. Farmers State Bank is the largest deposit holder at 21.4% share. The top three banks hold 47% of deposits, which places the market in the Moderate 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: 61 in 2021 to 56 in 2026. Institutions: 24 to 23. Top-three share: 41% to 47%. Average deposits per branch: $83M.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Farmers State Bank | $994M | 21.4% | +3% |
| Lincoln Savings Bank | $677M | 14.5% | +35% |
| First Bank | $504M | 10.8% | +14% |
| U.S. Bank | $358M | 7.7% | -21% |
| Wells Fargo Bank | $240M | 5.2% | -15% |
| GNB Bank | $203M | 4.4% | -2% |
| Denver Savings Bank | $187M | 4.0% | +6% |
| BankIowa | $186M | 4.0% | +3% |
| Regions Bank | $173M | 3.7% | -21% |
| Fidelity Bank & Trust | $157M | 3.4% | -1% |
| Cedar Rapids Bank and Trust Company | $139M | 3.0% | -20% |
| Peoples Savings Bank | $131M | 2.8% | +36% |
| Northeast Security Bank | $129M | 2.8% | +1% |
| Nicolet National Bank | $126M | 2.7% | -21% |
| Readlyn Savings Bank | $112M | 2.4% | +7% |
| Green Belt Bank & Trust | $77M | 1.6% | +73% |
| First Security State Bank | $74M | 1.6% | -13% |
| Cedar Valley Bank & Trust | $52M | 1.1% | +52% |
| First Interstate Bank | $45M | 1.0% | -40% |
| Farmers Savings Bank | $32M | 0.7% | -6% |
| Heartland Bank and Trust Company | $30M | 0.6% | -15% |
| CUSB Bank | $26M | 0.6% | no 2021 presence |
| Security State Bank | $4M | 0.1% | -91% |
The 23 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 | |
|---|---|---|---|---|---|
| Black Hawk County | Iowa | $7.6B | 131,532 | 81.2% | 57.7% |
| Bremer County | Iowa | $1.2B | 25,296 | 13.1% | 22.0% |
| Grundy County | Iowa | $539M | 12,361 | 5.8% | 20.4% |
Recruiting in the Waterloo-Cedar Falls 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.
See how we help banks recruit commercial banking talent