Watertown-Fort Drum, NY, a Metropolitan Statistical Area, holds $2.2 billion in deposits across 8 insured institutions and 29 branches, and ranks #251 of 293 U.S. markets by economic output. Watertown Savings Bank is the largest deposit holder at 36.5% share. The top three banks hold 79% 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: 32 in 2021 to 29 in 2026. Institutions: 10 to 8. Top-three share: 78% to 79%. Average deposits per branch: $74M.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Watertown Savings Bank | $784M | 36.5% | -5% |
| Community Bank | $673M | 31.3% | +11% |
| Carthage Savings and Loan | $242M | 11.2% | +2% |
| KeyBank | $229M | 10.7% | -28% |
| WSB Municipal Bank | $98M | 4.6% | -32% |
| Gouverneur Savings and Loan Association | $89M | 4.2% | -9% |
| The Upstate National Bank | $18M | 0.8% | +30% |
| GS&L Municipal Bank | $16M | 0.7% | no 2021 presence |
The 8 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 | |
|---|---|---|---|---|---|
| Jefferson County | New York | $6.4B | 111,540 | 100.0% | 100.0% |
Recruiting in the Watertown-Fort Drum 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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