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Connecticut: Banks’ Economic Impact

Banks support Connecticut’s economy with consumer, business and other loans, and by providing more than 21,000 people with a rewarding place to work.

Find State-by-State Data #
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Jobs

Jobs

  • 21,761Employees

  • $2.7 BTotal Annual Compensation & Benefits

  • $125,249Average Total Compensation & Benefits

  • 35Banks Headquartered in State

Finding a Place to Grow

Chelsea Groton Bank in Connecticut has one employee whose professionalism really packs a punch. When Tashawn Ward is not working for the bank helping his customers, he’s trying to qualify for the Olympics in boxing. He began his banking career as an intern at Chelsea Groton and finds his job fits perfectly with his boxing dreams.

Source: Estimates based on ABA 2019/2020 survey data

Lending

Lending

  • $4.2 BSmall Business Loans Outstanding

  • $11.5 BNew Home Loans Booked in 2018

  • 34,832Number of New Home Loans in 2018

  • $185,000Median New Home Loan Size in 2018

  • $232.2 MSmall Farm Loans Outstanding

Making Fitness Dreams Come True

Two men stand in a gym

Savings Institute Bank & Trust, based in Willimantic, CO, helped one customer realize a very big dream of expanding his fitness center by delivering a commercial loan tailored specifically to his needs.

Source: Estimates based on ABA 2019/2020 survey data, HMDA

Customers

Customers

  • 3.8 MTotal Customers

  • $139.8 BDeposits

  • 3.3 MConsumer

  • 646 KSmall Business

  • 9.1 KSmall Farm

  • 59Banks Operating Branches

  • 1,129Branches & Offices

Source: Estimates based on ABA 2019/2020 survey data, FDIC branch deposit data

Giving Back

Giving Back

  • 228.2 KVolunteer hours

  • $63.1 MCommunity Donations

EMS workers wearing masks and standing near pizza boxes

Showing Support During COVID-19

EMS workers wearing masks and standing near pizza boxes

Liberty Bank's Meriden branch surprised Hunter's Ambulance Service, Inc., and local EMS workers with a “thank-you” dinner from a local pizzeria in the bank’s home state of Connecticut.

More stories on Giving Back #

Source: Estimates based on ABA 2019/2020 survey data. Does not include individual employee donations.

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