BranchWatch

Banks in Minnesota

Deposit market share, branch network and structure changes for Minnesota, from official FDIC data.

Active branches
1,584
Deposits (2026)
$319.7B
Closings on record
212
Openings on record
134

Largest retail branch networks in Minnesota (2026)

BankDepositsShareYoYBranches
U.S. Bank$106.5B33.3%+8.0%105
Wells Fargo$57.8B18.1%+21.7%121
Old National Bank$11.8B3.7%-9.3%77
Huntington Bank$6.9B2.2%+2.0%61
Bell Bank$6.7B2.1%+9.2%17
BMO Bank$5.2B1.6%-0.4%35
Bank of America$4.4B1.4%-14.9%23
Bridgewater Bank$4.4B1.4%+1.9%10
Associated Bank$3.4B1.1%+47.8%24
Choice Financial Group$3.0B0.9%-2.2%5
Alerus Financial$2.7B0.8%+4.8%15
Frandsen Bank & Trust$2.6B0.8%+3.0%34
Minnwest Bank$2.4B0.7%-0.3%30
Merchants Bank$2.3B0.7%+3.7%20
Think Mutual Bank$1.9B0.6%+4.7%9
Deerwood Bank$1.4B0.4%+24.0%14
Park State Bank$1.2B0.4%+4.3%17
Chase Bank$1.2B0.4%+24.3%47
Security Bank & Trust Company$1.2B0.4%+9.6%26
Nicolet National Bank$1.2B0.4%+491.9%14
North American Banking Company$1.1B0.3%-3.9%6
Premier Bank$1.0B0.3%+11.6%8

Includes institutions reporting at least five active branches in Minnesota. Deposit share is calculated against all deposits assigned to Minnesota offices, so the shares shown do not sum to 100%.

All institutions by deposits assigned to Minnesota offices

BankDepositsShareYoYBranches
U.S. Bank$106.5B33.3%+8.0%105
Wells Fargo$57.8B18.1%+21.7%121
Ameriprise Bank$23.9B7.5%+6.4%2
Old National Bank$11.8B3.7%-9.3%77
Huntington Bank$6.9B2.2%+2.0%61
Bell Bank$6.7B2.1%+9.2%17
BMO Bank$5.2B1.6%-0.4%35
Bank of America$4.4B1.4%-14.9%23
Bridgewater Bank$4.4B1.4%+1.9%10
Associated Bank$3.4B1.1%+47.8%24
Choice Financial Group$3.0B0.9%-2.2%5
Alerus Financial$2.7B0.8%+4.8%15
Frandsen Bank & Trust$2.6B0.8%+3.0%34
Minnwest Bank$2.4B0.7%-0.3%30
Merchants Bank$2.3B0.7%+3.7%20
Stearns Bank$2.0B0.6%-17.3%4
Tradition Capital Bank$1.9B0.6%+13.0%3
Think Mutual Bank$1.9B0.6%+4.7%9
Deerwood Bank$1.4B0.4%+24.0%14
Park State Bank$1.2B0.4%+4.3%17
Chase Bank$1.2B0.4%+24.3%47
Security Bank & Trust Company$1.2B0.4%+9.6%26
Nicolet National Bank$1.2B0.4%+491.9%14
North American Banking Company$1.1B0.3%-3.9%6
Premier Bank$1.0B0.3%+11.6%8

Deposit location reflects the office to which deposits are reported and may not represent the residence of depositors. Banks that book nationwide deposits at a single office (for example brokerage or direct banks) can rank far above their local branch presence.

Closings (most recent 200 of 212)

Transcribed from FDIC BankFind Suite structure-change records, active-location records and the annual Summary of Deposits (June 30 reporting date). Market share is each bank's share of all deposits assigned to FDIC-insured offices in the state.