BranchWatch

Banks in Minnesota

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

Active branches
1,585
Deposits (2025)
$297.4B
Closings on record
210
Openings on record
132

Largest retail branch networks in Minnesota (2025)

BankDepositsShareYoYBranches
U.S. Bank$98.7B33.2%-13.5%105
Wells Fargo$47.5B16%-1.8%121
Old National Bank$13.0B4.4%+247.1%78
Huntington Bank$6.8B2.3%-1.2%61
Bell Bank$6.2B2.1%+8.2%17
BMO Bank$5.3B1.8%-19.7%36
Bank of America$5.2B1.7%-12.9%23
Bridgewater Bank$4.3B1.4%+11.9%10
Choice Financial Group$3.1B1%+1.4%5
Alerus Financial$2.6B0.9%+45.0%16
Frandsen Bank & Trust$2.5B0.8%+3.4%34
Minnwest Bank$2.4B0.8%-0.9%30
Associated Bank$2.3B0.8%+5.8%24
Merchants Bank$2.2B0.7%+6.4%20
Think Mutual Bank$1.8B0.6%+3.1%9
Park State Bank$1.2B0.4%+1.1%17
North American Banking Company$1.1B0.4%+5.1%6
Deerwood Bank$1.1B0.4%+28.4%14
Security Bank & Trust Company$1.1B0.4%+5.7%26
National Bank of Commerce$1.0B0.3%+112.4%17
Chase Bank$967M0.3%+20.3%45

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$98.7B33.2%-13.5%105
Wells Fargo$47.5B16%-1.8%121
Ameriprise Bank$22.5B7.6%+4.8%2
Old National Bank$13.0B4.4%+247.1%78
Huntington Bank$6.8B2.3%-1.2%61
Bell Bank$6.2B2.1%+8.2%17
BMO Bank$5.3B1.8%-19.7%36
Bank of America$5.2B1.7%-12.9%23
Bridgewater Bank$4.3B1.4%+11.9%10
Choice Financial Group$3.1B1%+1.4%5
Alerus Financial$2.6B0.9%+45.0%16
Frandsen Bank & Trust$2.5B0.8%+3.4%34
Stearns Bank$2.5B0.8%+28.6%4
Minnwest Bank$2.4B0.8%-0.9%30
Associated Bank$2.3B0.8%+5.8%24
Merchants Bank$2.2B0.7%+6.4%20
Think Mutual Bank$1.8B0.6%+3.1%9
Tradition Capital Bank$1.7B0.6%+2.1%3
Park State Bank$1.2B0.4%+1.1%17
North American Banking Company$1.1B0.4%+5.1%6
Deerwood Bank$1.1B0.4%+28.4%14
Security Bank & Trust Company$1.1B0.4%+5.7%26
National Bank of Commerce$1.0B0.3%+112.4%17
Chase Bank$967M0.3%+20.3%45
MidWestOne Bank$953M0.3%+2.8%0

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 210)

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.