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Kentucky: Banks’ Economic Impact

Banks support Kentucky’s economy with consumer, business and other loans, and by providing more than 27,000 people with a rewarding place to work.

Find State-by-State Data #
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Jobs

Jobs

  • 27,165Employees

  • $1.9 BTotal Annual Compensation & Benefits

  • $71,725Average Total Compensation & Benefits

  • 141Banks Headquartered in State

A bank employee sanitzes a door handle

Helping Customers Stay Safe

A bank employee sanitzes a door handle

Employees at Citizens Union Bank in Kentucky regularly sanitize the branch during the COVID-19 pandemic, helping to keep customers and each other safe.

More stories on Jobs #

Source: Estimates based on ABA 2019/2020 survey data

Lending

Lending

  • $6.1 BSmall Business Loans Outstanding

  • $8.6 BNew Home Loans Booked in 2018

  • 55,060Number of New Home Loans in 2018

  • $105,000Median New Home Loan Size in 2018

  • $3.2 BSmall Farm Loans Outstanding

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!”

More stories on Lending #

Source: Estimates based on ABA 2019/2020 survey data, HMDA

Customers

Customers

  • 5.9 MTotal Customers

  • $84.3 BDeposits

  • 4.9 MConsumer

  • 1.5 MSmall Business

  • 13.3 KSmall Farm

  • 172Banks Operating Branches

  • 1,599Branches & Offices

Bank employees stand socially distant in the bank lobby

Supporting Customers Through COVID-19

Bank employees stand socially distant in the bank lobby

Farmers National Bank in Kentucky limited in-branch services to appointment-only during the COVID-19 pandemic. The bank also avidly promoted digital banking to customers, adapted drive-thru and walk-up operations to run safely, reached out to elderly customers, rolled out an installment loan forgiveness program and processed PPP loans for small businesses. Employees even reminded customers about social distancing with special t-shirts.

More stories on Serving Customers #

Source: Estimates based on ABA 2019/2020 survey data, FDIC branch deposit data

Giving Back

Giving Back

  • 195.4 KVolunteer hours

  • $10.6 MCommunity Donations

Becoming Better Leaders to Serve the Community

Citizens Union Bank Academy

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 2019/2020 survey data. Does not include individual employee donations.

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