The largest local banks posted a third consecutive year of shrinking local deposits, though the pace of the decline appears to be slowing from the previous year.
Deposits for the 47 largest banks doing business in OC fell a combined 1.7% as of June 30, 2025, following a 4% drop in 2024 and a 0.6% decline in 2023.
The combined OC deposits as of June 30, 2025, were $161 billion, down from $163.8 billion in 2024 and $174.7 billion in 2023 (see list, page 29).
The number of branches operated in OC remained relatively flat at 504 locations among the top 47 banks. OC employee headcounts among the banks declined by less than 1% to 12,020.
The rankings are based on deposits provided by the Federal Deposit Insurance Corp. The other data is provided by the banks or are Business Journal estimates.
2 Large Banks Drove Deposit Drops
In prior years, declines were widespread, particularly among the 10 largest banks. This year, 15 banks drove the overall drop in local deposits, posting declines ranging from 2% to 74%.
Among the top 20 banks with more than $1 billion in local deposits, seven reported decreases—with the sharpest drops at Banc of California and Irvine-based First Foundation.
No. 17-ranked Banc of California, the third-largest bank headquartered in California, saw OC deposits fall 74% to $1.7 billion. The drop reflects the December 2023 relocation of its main headquarters from Santa Ana to Los Angeles, prompting a market reclassification of deposits that was fully reflected in the 2025 reporting cycle.
“Since Banc of California moved its headquarters, about $5 billion in non-branch deposits that were domiciled in Orange County are now being accounted for in Los Angeles,” the bank told the Business Journal in a statement. “Overall, the bank’s deposits grew 2.4% in 2025, driven primarily by new accounts and an increase in average balances.”
The No. 7-ranked First Foundation saw OC deposits fall 26% to $6.5 billion as of June 30, 2025. The bank declined to comment on the decrease.
However, CEO Thomas Shafer told the Business Journal in an email that Orange County remains a great place for banks.
“With a forecast for interest rates to be declining, it’s typically a good sign for real estate where our market continues to be balanced on the consumer side and looks to be stabilizing in the office market,” he said. “Unemployment is under 5% with really strong categories of high value jobs. Combined with the healthcare and biomedical industry segments, this should continue to be a strong region for the foreseeable future.”
In late October, First Foundation said it was being acquired by FirstSun Capital Bancorp, the parent of Dallas-based Sunflower Bank, in an all-stock deal valued at $785 million. The merger is expected to close in the second quarter, and the bank’s name will transition to Sunflower Bank.
The transaction underscores the continued exodus of locally headquartered banks. Last August, No. 29-ranked Columbia Bank completed its purchase of Irvine-based Pacific Premier Bank.
Before the close, Columbia Bank reported $628 million in deposits as of June 30, 2025, down 21% from a year earlier while No. 6- ranked Pacific Premier’s deposits declined 3.2% to $7.1 billion.
Other banks posting double-digit percentage declines in OC deposits as of June 30, 2025, included Liberty Bank, TIB Bank, United Business Bank and Shinhan Bank America, each of which fell by 38%, 15%, 15% and 13%, respectively. None of these four banks responded to requests for comment.
Top Gainers
Of the 47 banks on this year’s list, 31 reported OC deposit growth ranging from less than 1% to 68% as of June 30, 2025.
JPMorganChase maintained its top spot with $29.8 billion in local deposits, up slightly from $29.7 billion in the previous year. While the increase was less than 1%, the bank reversed course from 2024, when deposits fell 3%.
“Uncertainty has been the persistent theme of the past year,” Brennon Crist, head of Chase’s Pacific segment for commercial banking, told the Business Journal in an email. “Our priority is to help our clients reach their goals as they navigate the market and economic volatility. We are continually inspired by the resiliency of middle market business leaders, many of whom are adopting proactive strategies for 2026 and leaning into growth, technology adoption, and strategic partnerships.”
The largest percentage gains as of June 30, 2025, came from Pasadena-based East West Bank, Mission Viejo-based Partners Bank of California and Newport Beach-based Genesis Bank.
No. 43-ranked Genesis Bank increased OC deposits 35% to $180.6 million, up from $133.7 million in the previous year.
“Genesis Bank’s core deposit growth is driven by the bank’s continued success providing commercial clients with greatly needed sophisticated technology-based treasury cash management services and solutions across our business lines, including Commercial Banking, Income Property Banking, Fiduciary and Specialty Banking, and Section 1031 Exchange services,” Stephen H. Gordon, Genesis chair and CEO, told the Business Journal in an email.
East West Bank climbed four spots to No. 12 with $2.5 billion in local deposits as of June 30, 2025, up 68% from $1.5 billion in the previous year.
The increase stems, in part, from the internal realignment of certain Orange County corporate accounts to local branches, East West Bank told the Business Journal.
“Importantly, about 9% of the increase represents true organic growth, driven by new consumer and small business relationships, including strong response to our first-quarter Lunar New Year CD special and our Small Business Checking campaign,” Christopher Del Moral-Niles, executive vice president and CFO, said in an email.
Partners Bank, ranked No. 32, raised local deposits 46% to $480.8 million as of June 30, 2025. Partners Bank did not respond to requests for comments.
No. 26-ranked First Bank moved up three spots with local deposits increasing 27% to $802 million.
“The deposit growth has been as result of new client acquisition across all business lines and focus on core deposit growth,” Kurt von Steinbergs, managing director of First Bank’s OC commercial banking, told the Business Journal in an email.
Irvine-based Commercial Bank of California moved down one spot to No. 16 ranking with $1.9 billion in local deposits, up 14% from $1.7 billion for the same period in 2024.
Ash Patel, chief executive of Commercial Bank of California, said deposit growth at his bank is a “reflection of trust” from its customers, along with a November 2024 bank acquisition.
“The increase in deposits reflects both the successful integration of Community Bank of the Bay and the strength of our community-focused banking model,” Patel told the Business Journal in a statement. “As we expand our footprint, businesses and nonprofit organizations are choosing CBC because they value direct access to decision-makers, stability, and a bank that is deeply committed to the communities it serves.”
CORRECTION
CommerceWest Bank is ranked No. 22 among the 47 largest banks operating in OC, with deposits of $1,033,703,000 and 85 local employees. Due to an error in processing the list, the Irvine-based bank was accidentally omitted from our annual Banking list in the March 2 edition. The Business Journal regrets the error.
