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Iowa: Banks’ Economic Impact

Banks support Iowa's economy with consumer, business and other loans, and by providing more than 34,000 people with a rewarding place to work.

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Jobs

Jobs

  • 34,239Employees

  • $3.7 BTotal Annual Compensation & Benefits

  • $109,309Average Total Compensation & Benefits

  • 235Banks 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 2023Q4, Bureau of Labor Statistics 2023, ABA analysis

Lending

Lending

  • $5.9 BNew Home Loans Booked in 2023

  • 26,375Number of New Home Loans in 2023

  • $195,000Median New Home Loan Size in 2023

  • $5.8 BSmall Business Loans

  • 148.2 KNumber of Small Business Loans

  • $39,053Average Small Business Loan

  • $498.8 MSmall Farm Loans

  • 5,357Number of Small Farm Loans

  • $93,116Average Small Farm Loan

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

Customers

Customers

  • $121 BDeposits

  • 269Banks Operating Branches

  • 1,452Branches & Offices

  • 340Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2023Q4, CFE Fund, ABA analysis

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