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Alabama: Banks' Economic Impact

Banks support Alabama’s economy with consumer, business and other loans, and by providing more than 32,000 people with a rewarding place to work.

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  • 32,545Employees

  • $3.1 BTotal Annual Compensation & Benefits

  • $95,232Average Total Compensation & Benefits

  • 98Banks 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 Call Report 2022Q4, Bureau of Labor Statistics 2022, ABA analysis



  • $14.4 BNew Home Loans Booked in 2022

  • 53,068Number of New Home Loans in 2022

  • $245,000Median New Home Loan Size in 2022

  • $9.5 BSmall Business Loans

  • 292.5 KNumber of Small Business Loans

  • $32,506Average Small Business Loan

  • $805.2 MSmall Farm Loans

  • 13,172Number of Small Farm Loans

  • $61,130Average Small Farm Loan

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: FFIEC HMDA 2022, FFIEC CRA 2021, FDIC Call Report 2022Q4, ABA analysis



  • $140 BDeposits

  • 136Banks Operating Branches

  • 1,382Branches & Offices

  • 725Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2022Q2, CFE Fund, ABA analysis

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