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Kentucky: Banks’ Economic Impact

Banks support Kentucky’s economy with consumer, business and other loans, and by providing more than 28,000 people with a rewarding place to work.

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  • 28,001Employees

  • $2.2 BTotal Annual Compensation & Benefits

  • $79,930Average Total Compensation & Benefits

  • 124Banks Headquartered in State

Bilingual Banker Serves the Community

At Kentucky’s Independence Bank, economic inclusion is a daily practice. In 2019, the U.S. Census reported that over 13% of the Graves County population identified as Hispanic, meaning that many community members would need access to a bilingual banking experience. Jorge Bartolo, a Customer Service Representative at Independence Bank, assists customers in ensuring all of their banking needs are met. As a Hispanic and bilingual community member, his role also extends to providing Spanish speakers with the highest level of customer service.

Source: FDIC Call Report 2022Q4, Bureau of Labor Statistics 2022, ABA analysis



  • $10.2 BNew Home Loans Booked in 2022

  • 41,590Number of New Home Loans in 2022

  • $215,000Median New Home Loan Size in 2022

  • $6.5 BSmall Business Loans

  • 230.1 KNumber of Small Business Loans

  • $28,101Average Small Business Loan

  • $458 MSmall Farm Loans

  • 6,999Number of Small Farm Loans

  • $65,442Average Small Farm Loan

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



  • $119 BDeposits

  • 158Banks Operating Branches

  • 1,503Branches & Offices

  • 479Branches Offering Low Fee Bank On-certified Accounts

Community Bank Embraces True Name™

In partnership with Mastercard, Republic Bank is the first community bank to launch a feature that will ensure an authentic banking experience for transgender and non-binary customers by allowing them to use their chosen names on their debit cards.

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

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