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Maine: Banks’ Economic Impact

Banks support Maine's economy with consumer, business and other loans, and by providing more than 7,000 people with a rewarding place to work.

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Lending

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Jobs

Jobs

  • 7,213Employees

  • $736 MillionTotal Annual Compensation & Benefits

  • $102,046Average Total Compensation & Benefits

  • 22Banks Headquartered in State

Source: FDIC Call Report 2024Q4, Bureau of Labor Statistics 2024, ABA analysis

Lending

Lending

  • $3.4 BillionNew Home Loans Booked in 2024

  • 9,577Number of New Home Loans in 2024

  • $315,000Median New Home Loan Size in 2024

  • $3.1 BillionSmall Business Loans

  • 95.2 ThousandNumber of Small Business Loans

  • $32,191Average Small Business Loan

  • $197.1 MillionSmall Farm Loans

  • 4,674Number of Small Farm Loans

  • $42,174Average Small Farm Loan

Source: FFIEC HMDA 2024, FFIEC CRA 2023, FDIC Call Report 2024Q4, ABA analysis

Customers

Customers

  • $44.2 BillionDeposits

  • 29Banks Operating Branches

  • 436Branches & Offices

  • 266Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2024Q2, CFE Fund, ABA analysis

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