22 Scarcity Value LANB was founded in 1962 in Los Alamos, New Mexico, and added a second area branch in White Rock in 1971.Los Alamos is a genuinely unique market, with levels of stability and affluence that bely its relatively small population.The median household income in Los Alamos County was 88% higher than the national median as of 2016. As of 2014, 12.4% of households had over $1 million in assets, making Los Alamos the city with the highest concentration of millionaires in the U.S.The city is home to the famous Los Alamos National Laboratory, know best for coordinating the Manhattan Project. LANL’s budget is over $2.2 billion annually and it directly employs over 11,000 people.In 2016, 18.6% of residents over the age of 25 held a doctoral degree, compared to 1.3% for the United States overall.As of June 30, 2016, LANB dominated deposit market share in Los Alamos County with $707.5 million in deposits, or 89.8% of the $793.1 million of total deposits in the market. Santa Fe has a strong tourism sector, owing to its rich cultural history that dates back to the 15th century. It is the oldest state capital and its Palace of the Governors is the oldest continuously occupied public building in the United States.In part due to its proximity to Los Alamos, Santa Fe has become a hub for science and technology, and has spawned the Santa Fe Institute and the National Center for Genome Research. The presence of these institutions and Santa Fe’s established tourist industry has led Santa Fe to routinely host a variety of scientific conferences, meetings and summer schools.As of June 30, 2016, the Bank ranked third out of ten institutions in Santa Fe by deposit market share, with $482.0 million of deposits, or 16.6% of the $3.3 billion of total deposits in the market. Since 2000, the Santa Fe deposit market has increased by 179.4%, or 6.6% compounded annually through 2016. In 2016, the greater Santa Fe MSA had a population of approximately 150,000 with a projected population growth rate of 2.1% over the next five years. In 2006, Trinity entered the market with a branch in North Albuquerque and moved to its current location in June 2017 to be more accessible to customers. Albuquerque is the largest city in New Mexico, the fourth largest city on the Southwestern United States, and the 32nd most populous city in the United States. Sandia National Laboratories, located on the Kirkland Air Force Base, employs over 8,000 people towards the research and development of non-nuclear components of nuclear weapons and supporting technologies.The MSA is also the major manufacturing center of New Mexico, including Boeing, Intel, Eclipse Aerospace, SolAero Technologies and OSO BioPharmaceuticals Manufacturing.In 2016, the greater Albuquerque MSA boasted a population of approximately 908,000 with a projected population growth rate of 2.3% over the next five years.In Albuquerque, Trinity ranks 14th out of 21 institutions in the city by deposit market share, with $75.2 million of deposits, or 0.5% of the $14.6 billion of deposits in the market as of June 30, 2016. Los Alamos County Santa Fe MSA Albuquerque MSA Source: SNL Financial, Nielsen, Los Alamos National Laboratory, Kiplinger, Bureau of the Census, and Bureau of Economic Analysis