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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

  • 3Banks Headquartered in State

Source: FDIC branch deposit data (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: Estimates based on ABA 2020/2021 survey data, HMDA, SBA PPP Loans

Customers

Customers

  • 461.4 KCustomers

  • $65 BDeposits

  • 31Banks Operating Branches

  • 215Branches & Offices

  • 180Branches 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. Williams established her company as a result of the growing need for a full-service door distributor and installer. As a minority-owned business which was recently named one of the best places to work in the region, Williams has filled a void in both the construction environment and in her local community. She was able to lean on her relationship with the bank when she needed it most.

Source: Estimates based on ABA 2020/2021 survey data, FDIC branch deposit data, CFE Fund and S&P Global Market Intelligence

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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