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Colorado: Banks’ Economic Impact

Banks support Colorado's economy with consumer, business and other loans, and by providing more than 30,000 people with a rewarding place to work.

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Jobs

Jobs

  • 30,492Employees

  • $3.9 BTotal Annual Compensation & Benefits

  • $127,283Average Total Compensation & Benefits

  • 68Banks Headquartered in State

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

Lending

Lending

  • $30.7 BNew Home Loans Booked in 2023

  • 63,406Number of New Home Loans in 2023

  • $445,000Median New Home Loan Size in 2023

  • $12.7 BSmall Business Loans

  • 529.1 KNumber of Small Business Loans

  • $23,940Average Small Business Loan

  • $1.4 BSmall Farm Loans

  • 18,790Number of Small Farm Loans

  • $74,566Average 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 2023, FFIEC CRA 2023, FDIC Call Report 2023Q4, ABA analysis

Customers

Customers

  • $187 BDeposits

  • 129Banks Operating Branches

  • 1,390Branches & Offices

  • 782Branches Offering Low Fee Bank On-certified Accounts

A Bank Aimed at Teaching the Next Generation About Money

Young Americans Bank of Denver, CO offers an educational focus customized just for kids. Today the bank has 19,000 account holders, and its non-profit center offers a range of financial education opportunities for youth.

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

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