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Iowa: Banks’ Economic Impact

Banks support Iowa’s economy with consumer, business and other loans, and by providing more than 39,000 people with a rewarding place to work.

Find State-by-State Data #
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Jobs

Jobs

  • 39,434Employees

  • $3.4 BTotal Annual Compensation & Benefits

  • $86,505Average Total Compensation & Benefits

  • 273Banks Headquartered in State

A Veteran Helping Veterans

Lincoln Savings Bank in Grinnell, Iowa has a leader who is committed to veterans. Mike Olson, the bank’s vice president, a retired lieutenant colonel in the Iowa Army National Guard, helps veterans build small businesses.

Source: Estimates based on ABA 2019/2020 survey data

Lending

Lending

  • $3.6 BSmall Business Loans Outstanding

  • $5.7 BNew Home Loans Booked in 2018

  • 37,091Number of New Home Loans in 2018

  • $105,000Median New Home Loan Size in 2018

  • $2.4 BSmall Farm Loans Outstanding

A Local Thank-You

KZIA, a local radio station in Eastern Iowa, created a special video for MidWestOne Bank to say “thanks” for the help the business received securing a PPP loan—filled with unique and funny messages from the employees.

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

Customers

Customers

  • 4.4 MTotal Customers

  • $90 BDeposits

  • 4.1 MConsumer

  • 750.2 KSmall Business

  • 188.9 KSmall Farm

  • 311Banks Operating Branches

  • 1,509Branches & Offices

Two people hold up a sign that got them $15 off a meal at a local restaurant

Supporting Local Restaurants

Two people hold up a sign that got them $15 off a meal at a local restaurant

Washington State Bank in Iowa hosted a virtual Cash Mob event to help support local businesses during the COVID-19 pandemic. The bank selected an area restaurant to “mob” by posting the announcement to social media, and members of the community were encouraged to call for carryout that evening. The first 15 customers at each restaurant were given “cash mob bucks” to put towards their order.

More stories on Serving Customers #

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

Giving Back

Giving Back

  • 228.9 KVolunteer hours

  • $34.6 MCommunity Donations

An Advocate for Home Buyers

Wells Fargo, in West Des Moines, Iowa, has made a major commitment to assisting that community with home buying.

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

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