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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

  • 30,928Employees

  • $2.7 BTotal Annual Compensation & Benefits

  • $85,796Average Total Compensation & Benefits

  • 106Banks Headquartered in State

Steve Beres

A Veteran Supporting Veterans

Steve Beres

Regions Bank, based in Birmingham, Ala., awarded its top honor for its associates—the Better Life Award—to Steve Beres, a veteran with a powerful story. Steve was injured in Afghanistan, losing his sight. As Regions' first service member and veterans affairs manager, Steve now manages relationships with organizations that support veterans. Regions donated $1,000 in Steve’s name to H.E.R.O.E.S. Care, a non-profit that supports military families.

More stories on Jobs #

Source: FDIC branch deposit data (2020), estimates based on ABA 2020/2021 survey data

Lending

Lending

  • $17 BNew Home Loans Booked in 2020

  • 75,829Number of New Home Loans in 2020

  • $185,000Median New Home Loan Size in 2020

  • $6 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 62,173PPP Loans

  • $23,677Median PPP Loan

  • 741.5 KJobs Supported by PPP

Innovative Solutions for Small Startups

Valley National Bank brought new meaning to ‘adaptive reuse’ when it partnered with the Alexander City Chamber of Commerce to turn a former bank operations center into something completely new. Now, the space is a business incubator for local entrepreneurs, startups, small businesses and individuals in need of a workspace—the Lake Martin Innovation Center.

Source: Estimates based on ABA 2020/2021 survey data, HMDA, SBA PPP Loans

Customers

Customers

  • 5 MCustomers

  • $129 BDeposits

  • 149Banks Operating Branches

  • 1,454Branches & Offices

  • 636Branches Offering Low Fee Bank On-certified Accounts

Supporting A Small Business That Gives Back

Mario and Gabriela Limon opened their Mexican restaurant, Limon’s, in the center of Henagar, Alabama in 2004. When COVID-19 began rapidly spreading, the Limons had no choice but to shift their operations to take-out only. The Limons turned to First Fidelity Bank to secure a PPP loan—allowing them not only to continue employing staff and serving customers safely, but also to give back to the community.

Source: Estimates based on ABA 2020/2021 survey data, FDIC branch deposit data, CFE Fund and S&P Global Market Intelligence

Giving Back

Giving Back

  • 135.7 KVolunteer Hours

  • $46.8 MCommunity Donations

Making a Difference for Veterans in Need

Regions Bank, based in Birmingham, AL, provided major assistance to a small Alabama non-profit on a major mission: Housing and support for veterans who are homeless or confronting other major issues.

Source: Estimates based on ABA 2020/2021 survey data

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