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The Largest Community Bank in Every State

Community banks have the ability to deliver personalized banking services to their constituents. Find out the largest community bank in your state.

Articles by sherrillstgermain
By Sherrill St. Germain Financial Columnist, Betterment Published Aug. 26, 2019
Published Aug. 26, 2019
2 min read
  • Locally owned and operated, community banks deliver high-touch banking services to meet the particular needs of their constituents. That includes specialized products for depositors, as well as flexible lending solutions for small businesses and farms.

  • In the wake of industry consolidation in recent decades, community banks face daunting challenges. But they retain a significant market share, especially in smaller communities, and may be ripe for a comeback. Here we list the largest in each state.

Community banks are locally owned and operated, comprising 92% of FDIC-insured banks.

Known as “America’s Favorite Lenders,” they have long played an important function in fueling the nation’s economic growth by investing at the grassroots level, particularly in smaller and rural markets.

Indeed, they provide more than 60% of all small business loans, as well as 80% of agricultural loans.

But their services extend far beyond lending. Whether it’s low-cost banking, flexible decision-making, targeted products, or financial education, these banks help deliver the solutions needed for local communities to thrive in good times and bad.

The unique role of community banks is not lost on American consumers, 58% of whom prefer the more personalized experience they provide.

Despite that, community banks have been in decline for more than a decade, thanks to the regulatory changes in the late 1980s and the Great Financial Crisis of 2008.

But some observers believe they may be poised for a comeback. That’s because the same industry shakeup that devastated these institutions also left certain populations with unmet banking needs–needs that community banks may be well-positioned to meet.

What qualifies as a community bank?

Traditionally, community banks have been defined as those with assets under $1 billion.  However, the Federal Deposit Insurance Corporation (FDIC) recently refined its model to include criteria related to lending and deposit gathering activities as well as geographic scope.

It is this data from which we determined each state’s largest community bank, shown in the table below.

State Bank Name Dollar Assets Under Management Offices
AK First National Bank Alaska 3,706,753 28
AL Bank Independent 1,680,544 26
AR First Security Bank 5,397,456 78
AZ BNC National Bank 1,000,024 14
CA Axos Bank 10,166,062 2
CO Alpine Bank 3,724,522 42
CT Bankwell Bank 1,894,700 13
DC The National Capital Bank of Washington 480,707 3
DE The Bank of Delmarva 759,078 16
FL City National Bank of Florida 14,782,939 44
FM Bank of the Federated States of Micronesia 171,815 4
GA Metro City Bank 1,488,463 16
GU ANZ Guam, Inc. 317,682 4
HI First Hawaiian Bank 20,440,955 61
IA Bankers Trust Company 4,572,352 24
ID D. L. Evans Bank 1,569,175 31
IL Byline Bank 5,006,755 63
IN 1st Source Bank 6,375,094 81
KS Capitol Federal Savings Bank 9,552,356 58
KY Community Trust Bank, Inc. 4,291,255 80
LA Home Bank, National Association 2,198,885 39
MA East Boston Savings Bank 6,260,609 35
MD EagleBank 8,384,205 20
ME Bangor Savings Bank 4,447,239 59
MI Mercantile Bank of Michigan 3,534,042 47
MN Bremer Bank, National Association 12,559,980 87
MO Landmark Bank 3,238,587 38
MS BankPlus 2,938,419 57
MT Stockman Bank of Montana 3,664,700 37
NC Southern Bank and Trust Company 2,692,782 61
ND Bell Bank 6,005,816 20
NE Union Bank and Trust Company 4,205,230 36
NH Mascoma Bank 1,790,854 25
NJ OceanFirst Bank, National Association 8,092,941 64
NM First American Bank 1,168,791 19
NV Meadows Bank 915,647 6
NY Signature Bank 48,558,290 30
OH First Federal Bank of the Midwest 3,188,619 43
OK InterBank 3,555,003 45
OR Citizens Bank 774,518 16
PA Customers Bank 10,134,762 15
PR FirstBank Puerto Rico 12,367,251 67
RI The Washington Trust Company, of Westerly 5,153,981 23
SC The Conway National Bank 1,202,518 16
SD Dacotah Bank 2,586,450 32
TN Franklin Synergy Bank 4,235,250 14
TX LegacyTexas Bank 9,348,557 44
UT Bank of Utah 1,409,929 17
VA Burke & Herbert Bank & Trust Company 3,003,568 25
VI Merchants Commercial Bank 246,308 2
VT Northfield Savings Bank 1,031,652 13
WA Heritage Bank 5,338,759 67
WI Nicolet National Bank 3,037,536 38
WV Summit Community Bank, Inc 2,241,017 35
WY Bank of Jackson Hole 838,580 10


Data Source: FDIC Community Banking Study Reference Data

Do other institutions offer the perks of community banks?

Even though Betterment is not a community bank (or a bank), we are equally incentivized to help you make the most of your money. In fact, as a fiduciary, we are legally required to put client interests first.

Betterment does not do lending, which permits us to focus explicitly on the cash management and investing needs of consumers.

Further, Betterment tailors our offerings based on your individual goals, as well as insights into your saving and spending patterns obtained by our cash-analysis tool.

We then go a step further, automating the money-movement process via our two-way sweep feature. It utilizes our cash analysis feature to monitor your linked checking account daily and aims to keep the account balanced.

When cash on hand grows beyond your immediate needs, Betterment’s investment platform helps make it easy and cost-effective to potentially earn higher returns.

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