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Alabama: Banks' Economic Impact

Banks support Alabama's economy with consumer, business and other loans, and by providing more than 31,000 people with a rewarding place to work.

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Jobs

Jobs

  • 31,570Employees

  • $3.3 BillionTotal Annual Compensation & Benefits

  • $103,467Average Total Compensation & Benefits

  • 95Banks Headquartered in State

Source: FDIC Call Report 2023Q4, Bureau of Labor Statistics 2023, ABA analysis

Lending

Lending

  • $11.6 BillionNew Home Loans Booked in 2023

  • 41,838Number of New Home Loans in 2023

  • $255,000Median New Home Loan Size in 2023

  • $10.6 BillionSmall Business Loans

  • 270.5 ThousandNumber of Small Business Loans

  • $39,072Average Small Business Loan

  • $816.6 MillionSmall Farm Loans

  • 13,189Number of Small Farm Loans

  • $61,915Average Small Farm Loan

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

Customers

Customers

  • $135 BillionDeposits

  • 135Banks Operating Branches

  • 1,377Branches & Offices

  • 720Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2023Q4, CFE Fund, ABA analysis

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