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California: Banks’ Economic Impact

Banks support California’s economy with consumer, business and other loans, and by providing more than 160,000 people with a rewarding place to work.

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  • 160,792Employees

  • $27.8 BTotal Annual Compensation & Benefits

  • $172,852Average Total Compensation & Benefits

  • 145Banks Headquartered in State

Employees Dedicated to COVID-19 Relief

When the pandemic struck, Montecito Bank & Trust took action by converting its Hollister branch located in Goleta, Calif., into a COVID-19 relief center. The team members at the center of this endeavor were strictly focused on helping to process PPP loans for customers in need. Bankers voluntarily worked overtime—including weekends—to ensure the financial well-being of their community during this trying time.

Source: FDIC Call Report year-end 2020, estimates based on ABA 2020/2021 survey data



  • $269.4 BNew Home Loans Booked in 2020

  • 402,369Number of New Home Loans in 2020

  • $465,000Median New Home Loan Size in 2020

  • $63.7 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 564,864PPP Loans

  • $26,800Median PPP Loan

  • 7.3 MJobs Supported by PPP

Customers Say "Thanks"

Bank of Southern California received a special thank-you from Lyon, a small business customer of the bank and film production company for clients in healthcare, technology and life science. The video “thank-you card” expressed the company’s gratitude for receiving a PPP loan from the bank during the COVID-19 pandemic.

Source: HMDA, SBA PPP Loans, ABA analysis



  • 24.7 MCustomers

  • $2.1 TDeposits

  • 192Banks Operating Branches

  • 6,267Branches & Offices

  • 3,825Branches Offering Low Fee Bank On-certified Accounts

A Space for Innovation

The Golden Pacific Bank Business Center is a one-stop resource hub for small business owners, startups and entrepreneurs in Marysville, California. The space was repurposed from a recently closed branch.

Source: Estimates based on ABA 2020/2021 survey data, FDIC Summary of Deposits (2021Q2), 2021 CFE Fund

Giving Back

Giving Back

  • 992 KVolunteer Hours

  • $536.2 MCommunity Donations

Union Bank Aids in Community Recovery

In June, Union Bank committed $10 million to launch their Community Recovery Program aimed at addressing social and racial injustices in the United States. This initiative is specifically focused on building economic stability, supporting access to capital, encouraging entrepreneurship, job retention and more. This builds on the bank’s previously announced commitment of $3 million to support local communities affected by COVID-19.

Source: Estimates based on ABA 2020/2021 survey data

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