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Kentucky: Banks’ Economic Impact

Banks support Kentucky's economy with consumer, business and other loans, and by providing more than 26,000 people with a rewarding place to work.

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  • 26,761Employees

  • $2.0 BTotal Annual Compensation & Benefits

  • $76,031Average Total Compensation & Benefits

  • 130 Banks 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 branch deposit data (2021 Q2), FDIC Call Report 2Q2021, 2021 BLS/US Census Quarterly Census of Employment and Wages (QCEW) for Credit Intermediation and Related Activities, and ABA Analysis



  • $14.9 BNew Home Loans Booked in 2021

  • 75,343Number of New Home Loans in 2021

  • $155,000Median New Home Loan Size in 2021

  • $3.9 BSmall Business Loans

  • 275.6 KNumber of Small Business Loans

  • $14,179Average Small Business Loan

  • $2.2 BSmall Farm Loans

  • 45,739Number of Small Farm Loans

  • $59,547Average Small Farm Loan

Paducah Bank ad showcasing a PPP loan made to a local business

Customers Say Thanks During COVID-19

Paducah Bank ad showcasing a PPP loan made to a local business

Paducah Bank in Kentucky created an awareness campaign highlighting small businesses that received PPP loans during COVID-19. The bank shared stories on social media and on their website. On customer commented, “Our small businesses are the backbone of our community, and many would not make it without this help. BRAVO!”

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Source: CFPB HMDA data, year-end 2021; FDIC Call Report 2Q2021 and Year-End 2021; 2021 USDA Quarterly Farm data and USDA/Census Data from 2017 State of Ag Survey; 2021 SBA/Census Data and ABA analysis



  • 13.0 MCustomers

  • $110.9 BDeposits

  • 161Banks Operating Branches

  • 1,541Branches & Offices

  • 442Branches 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.

Sources: Estimates based on ABA 2020/2021 survey data; FDIC Summary of Deposit (SOD) 2021Q2 Data; Cities for Financial Empowerment Fund

Giving Back

Giving Back

  • 136.0 KVolunteer Hours

  • $33.2 MCommunity Donations

Becoming Better Leaders to Serve the Community

Citizens Union Bank in Kentucky has earned kudos for its Big Picture Learning Academy, where employees develop teamwork skills while volunteering. Some have served as financial mentors in schools.

Source: Estimates based on ABA 2020/2021 survey data

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