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Alabama: Banks' Economic Impact

Banks support Alabama's economy with consumer, business and other loans, and by providing more than 30,000 people with a rewarding place to work.

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Jobs

Jobs

  • 30,995Employees

  • $3.2 BillionTotal Annual Compensation & Benefits

  • $103,449Average Total Compensation & Benefits

  • 94Banks Headquartered in State

Source: FDIC Call Report 2024Q4, Bureau of Labor Statistics 2024, ABA analysis

Lending

Lending

  • $12.2 BillionNew Home Loans Booked in 2024

  • 42,806Number of New Home Loans in 2024

  • $255,000Median New Home Loan Size in 2024

  • $10.6 BillionSmall Business Loans

  • 271 ThousandNumber of Small Business Loans

  • $39,062Average Small Business Loan

  • $829.1 MillionSmall Farm Loans

  • 13,514Number of Small Farm Loans

  • $61,348Average Small Farm Loan

Source: FFIEC HMDA 2024, FFIEC CRA 2023, FDIC Call Report 2024Q4, ABA analysis

Customers

Customers

  • $137 BillionDeposits

  • 133Banks Operating Branches

  • 1,368Branches & Offices

  • 711Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2024Q2, CFE Fund, ABA analysis

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