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Colorado: Banks’ Economic Impact

Banks support Colorado's economy with consumer, business and other loans, and by providing more than 29,000 people with a rewarding place to work.

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Jobs

Jobs

  • 29,262Employees

  • $3.9 BillionTotal Annual Compensation & Benefits

  • $132,078Average Total Compensation & Benefits

  • 66Banks Headquartered in State

Source: FDIC Call Report 2024Q4, Bureau of Labor Statistics 2024, ABA analysis

Lending

Lending

  • $31.4 BillionNew Home Loans Booked in 2024

  • 63,141Number of New Home Loans in 2024

  • $455,000Median New Home Loan Size in 2024

  • $12.7 BillionSmall Business Loans

  • 530 ThousandNumber of Small Business Loans

  • $23,934Average Small Business Loan

  • $1.4 BillionSmall Farm Loans

  • 19,254Number of Small Farm Loans

  • $73,884Average Small Farm Loan

Empowering Homeownership

FirstBank knew two things to be true: diverse audiences are increasingly concerned about qualifying for a mortgage, and that despite its focus on "banking for good", FirstBank was not perceived as an option for first-time homebuyers. The bank made it its mission to change that.

Source: FFIEC HMDA 2024, FFIEC CRA 2023, FDIC Call Report 2024Q4, ABA analysis

Customers

Customers

  • $182 BillionDeposits

  • 129Banks Operating Branches

  • 1,391Branches & Offices

  • 723Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2024Q2, CFE Fund, ABA analysis

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