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District of Columbia: Banks’ Economic Impact

Banks support the District of Columbia's economy with consumer, business and other loans, and by providing more than 4,000 people with a rewarding place to work.

Find State-by-State Data #
Jobs

Jobs

  • 4,658Employees

  • $1.1 BillionTotal Annual Compensation & Benefits

  • $239,658Average Total Compensation & Benefits

  • 4Banks Headquartered in State

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

Lending

Lending

  • $2.9 BillionNew Home Loans Booked in 2024

  • 4,529Number of New Home Loans in 2024

  • $555,000Median New Home Loan Size in 2024

  • $1.4 BillionSmall Business Loans

  • 59.3 ThousandNumber of Small Business Loans

  • $23,556Average Small Business Loan

  • $127.4 MillionSmall Farm Loans

  • 2,336Number of Small Farm Loans

  • $54,567Average Small Farm Loan

A Phone Call Away

M&T Bank stepped up to help customers in Maryland, Virginia and Washington, D.C. during the COVID-19 pandemic. DC Media Connection, a minority-owned media company located in the district, was among the small businesses the bank assisted with a PPP loan. The pandemic forced owner Angel Livas to restructure and reframe how her company was doing things. Angel called her banker at M&T who encouraged her to apply for a PPP loan. She qualified and within two weeks, Angel had the money to help her business move forward during the difficult time.

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

Customers

Customers

  • $63.9 BillionDeposits

  • 34Banks Operating Branches

  • 181Branches & Offices

  • 162Branches Offering Low Fee Bank On-certified Accounts

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

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