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Maryland: Banks’ Economic Impact

Banks support Maryland's economy with consumer, business and other loans, and by providing more than 24,000 people with a rewarding place to work.

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Serving Customers

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Jobs

Jobs

  • 24,174Employees

  • $3.4 BillionTotal Annual Compensation & Benefits

  • $141,155Average Total Compensation & Benefits

  • 29Banks Headquartered in State

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

Lending

Lending

  • $23.2 BillionNew Home Loans Booked in 2024

  • 53,554Number of New Home Loans in 2024

  • $395,000Median New Home Loan Size in 2024

  • $10.2 BillionSmall Business Loans

  • 486.7 ThousandNumber of Small Business Loans

  • $20,948Average Small Business Loan

  • $1.2 BillionSmall Farm Loans

  • 21,218Number of Small Farm Loans

  • $58,272Average Small Farm Loan

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

Customers

Customers

  • $195 BillionDeposits

  • 75Banks Operating Branches

  • 1,156Branches & Offices

  • 912Branches Offering Low Fee Bank On-certified Accounts

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

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