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Iowa: Banks’ Economic Impact

Banks support Iowa's economy with consumer, business and other loans, and by providing more than 33,000 people with a rewarding place to work.

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Jobs

Jobs

  • 33,025Employees

  • $3.7 BillionTotal Annual Compensation & Benefits

  • $113,360Average Total Compensation & Benefits

  • 233Banks 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: FDIC Call Report 2024Q4, Bureau of Labor Statistics 2024, ABA analysis

Lending

Lending

  • $6.2 BillionNew Home Loans Booked in 2024

  • 26,452Number of New Home Loans in 2024

  • $205,000Median New Home Loan Size in 2024

  • $5.8 BillionSmall Business Loans

  • 148.5 ThousandNumber of Small Business Loans

  • $39,044Average Small Business Loan

  • $506.4 MillionSmall Farm Loans

  • 5,489Number of Small Farm Loans

  • $92,264Average Small Farm Loan

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

Customers

Customers

  • $125 BillionDeposits

  • 267Banks Operating Branches

  • 1,435Branches & Offices

  • 340Branches Offering Low Fee Bank On-certified Accounts

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

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