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Iowa: Banks’ Economic Impact

Banks support Iowa’s economy with consumer, business and other loans, and by providing more than 35,000 people with a rewarding place to work.

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  • 35,708Employees

  • $3.5 BTotal Annual Compensation & Benefits

  • $98,969Average Total Compensation & Benefits

  • 249Banks 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 2022Q4, Bureau of Labor Statistics 2022, ABA analysis



  • $7.3 BNew Home Loans Booked in 2022

  • 32,796Number of New Home Loans in 2022

  • $195,000Median New Home Loan Size in 2022

  • $4.8 BSmall Business Loans

  • 170.5 KNumber of Small Business Loans

  • $28,393Average Small Business Loan

  • $491.9 MSmall Farm Loans

  • 5,350Number of Small Farm Loans

  • $91,935Average Small Farm Loan

Source: FFIEC HMDA 2022, FFIEC CRA 2021, FDIC Call Report 2022Q4, ABA analysis



  • $121 BDeposits

  • 284Banks Operating Branches

  • 1,453Branches & Offices

  • 304Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2022Q2, CFE Fund, ABA analysis

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