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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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  • 31,060Employees

  • $2.4 BTotal Annual Compensation & Benefits

  • $78,664Average Total Compensation & Benefits

  • 110Banks 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: Estimates based on ABA 2019/2020 survey data



  • $3.8 BSmall Business Loans Outstanding

  • $9.5 BNew Home Loans Booked in 2018

  • 52,243Number of New Home Loans in 2018

  • $135,000Median New Home Loan Size in 2018

  • $1.7 BSmall Farm Loans Outstanding

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 2019/2020 survey data, HMDA



  • 4.8 MTotal Customers

  • $107.6 BDeposits

  • 4.3 MConsumer

  • 1 MSmall Business

  • 334.7 KSmall Farm

  • 153Banks Operating Branches

  • 1,456Branches & Offices

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 2019/2020 survey data, FDIC branch deposit data

Giving Back

Giving Back

  • 142.8 KVolunteer hours

  • $35.5 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 2019/2020 survey data. Does not include individual employee donations.

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