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District of Columbia: Banks’ Economic Impact

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

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Jobs

Jobs

  • 4,377Employees

  • $493.5 MTotal Annual Compensation & Benefits

  • $112,755Average Total Compensation & Benefits

  • 4Banks Headquartered in State

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

Lending

Lending

  • $6.5 BNew Home Loans Booked in 2020

  • 9,929Number of New Home Loans in 2020

  • $495,000Median New Home Loan Size in 2020

  • $2.0 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 11,661PPP Loans

  • $40,976Median PPP Loan

  • 182.5 KJobs Supported by PPP

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: HMDA, SBA PPP Loans, ABA analysis

Customers

Customers

  • 461.4 KCustomers

  • $67.8 BDeposits

  • 32Banks Operating Branches

  • 210Branches & Offices

  • 157Branches Offering Low Fee Bank On-certified Accounts

Local Banking Supporting Local Business

At the onset of the COVID-19 pandemic, National Capital Bank stepped up to support small businesses in need. When Lisa Williams, founder of a Cap8 Doors and Hardware in Washington, DC, reached out to the bank for help, the bank stepped up to secure PPP funding to support her business.

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

Giving Back

Giving Back

  • 31 KVolunteer Hours

  • $54.2 MCommunity Donations

Teamwork at Its Best

In 2018, American professional soccer club D.C. United and EagleBank established a rewarding partnership with shared goals. The two organizations worked together to support multicultural and youth outreach programs in the Washington, D.C., area.

Source: Estimates based on ABA 2020/2021 survey data

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