The Best U.S. Counties to Be a Banker

Follow the Money

Since deposits are the starting point of a good banking relationship, you might look to do business in one of the five states with the highest average balance per household (figures in blue). Most of those are in the Northeast. Perhaps an even smarter choice would be in one of the states with the greatest increase in deposit balances over the past three years (figures in green). More of those are in the Midwest.

St. Louis County, Mo.

Missouri is No. 1 in household-deposit growth, and the Show Me State's county with the highest estimated average household deposit balances is St. Louis County at $138,903. The suburban county, adjacent to the city of St. Louis, is crisscrossed by several interstate highways including I-70 and has major employers including Boeing, Emerson Electric, Washington University and Lambert-St. Louis International Airport.

Somerset County, N.J.

New Jersey is No. 2 in household-deposit growth, and Somerset which bills itself as the hub of central New Jersey is tops in average household deposits with $207,752. The county's roots run deep in American history, having been established in 1688 and having served as a bunking station for Gen. George Washington and his troops during the Revolutionary War. It has long been a place tied to wealth, too, with many industrialists calling it home including rich drug industry executives still today. It has a more suburban feel now, bolstered by the presence of pharmaceutical and technology businesses.

Johnson County, Kan.

Kansas is No. 3 in household deposit growth, and Johnson County the state's leader with average household deposits of $139,504 contains some of the most affluent suburbs southwest of Kansas City, Mo., such as Overland Park, Kan. Johnson County has 28 golf courses, 90 shopping centers, 123 historic sites, and 610 farms (including 29 with 1,000 acres or more), according to the county's website. It was originally part of Shawnee Indian reservation territory and is named after Methodist minister Thomas Johnson, who established mission there for the Shawnee in 1829. Old West legend "Wild Bill" Hickok (pictured) is said to have lived in the county for a time. Suburban development began in the early 20th century and exploded after World War II.

New Castle County, Del.

Delaware is No. 4 in household deposit growth, and its most populous county New Castle is an attractive market. It includes the city of Wilmington and sits in the Philadelphia metropolitan area. It is home to two minor league sports teams, the Airport Speedway racing track and one of the oldest courthouses in the country, New Castle Courthouse, which now anchors a historic district. The building was the scene of the trial and conviction of two abolitionists, Thomas Garrett and John Hunn. Garrett is said to be the main inspiration for the character Simeon Halliday in "Uncle Tom's Cabin" by Harriet Beecher Stowe (pictured). The modern-day county is prosperous, with average household deposits of $80,569.

Hennepin County, Minn.

Minnesota is No. 5 in household deposit growth, and its most bankable county is the home of the Mall of America and the University of Minnesota: Hennepin County, which includes Minneapolis. The county was created in 1852 and named after Father Louis Hennepin, who provided some of the first written accounts of the area and discovered St. Anthony Falls, the highest waterfall on the Mississippi River. One in five Minnesotans live in the county, and its average household has $158,914 in deposits. Hennepin is home to corporate headquarters such as U.S. Bancorp, Target, Generals Mills, UnitedHealth Group and HealthPartners.

And the Most Bankable U.S. County Is ...

It's a judgment call, but American Banker perused additional data on www.fdic.gov and after making some back-of-the-napkin calculations (we know, we know ... beware of journalists doing math), we give the edge to Hennepin County. It is No. 1 in terms of deposits (nearly $78 billion) of the five, and its deposits per household are second only to the much smaller Somerset. In fact, Hennepin appears to have the most growth room, too it has the most households per existing branch (1,725) and second most households per bank (6,805) of the entire group.