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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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  • 7,493Employees

  • $667.6 MTotal Annual Compensation & Benefits

  • $89,104Average Total Compensation & Benefits

  • 26Banks Headquartered in State

Source: Estimates based on ABA 2019/2020 survey data



  • $1.2 BSmall Business Loans Outstanding

  • $3.5 BNew Home Loans Booked in 2018

  • 17,715Number of New Home Loans in 2018

  • $145,000Median New Home Loan Size in 2018

  • $316.9 MSmall Farm Loans Outstanding

New Jobs, Expanded Business

Norway Savings Bank in Maine stepped in to help in a big way for the expanding Cape Veterinary Clinic. “Norway Savings was very helpful in helping us understand what our vision would be, ” said the clinic’s co-owner.

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



  • 1.1 MTotal Customers

  • $31.8 BDeposits

  • 853.7 KConsumer

  • 236.4 KSmall Business

  • 2.4 KSmall Farm

  • 31Banks Operating Branches

  • 463Branches & Offices

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

Giving Back

Giving Back

  • 156.5 KVolunteer hours

  • $49.8 MCommunity Donations

A banker irons a mask

Sewing for Safety

A banker irons a mask

Employees at Kennebunk Savings Bank's Main Street branch worked together to sew more than 100 masks that were donated to local businesses and nursing homes throughout the Seacoast and Southern Maine communities, and also given to bank customers.

More stories on Giving Back #

Source: Estimates based on ABA 2019/2020 survey data. Does not include individual employee donations.

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