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Maryland: Banks’ Economic Impact

Banks support Maryland’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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Jobs

Jobs

  • 26,726Employees

  • $3.5 BTotal Annual Compensation & Benefits

  • $129,597Average Total Compensation & Benefits

  • 32Banks Headquartered in State

Recognized for Her Service to Minority and Women Entrepreneurs

Detra Miller’s decade-long career with M&T Bank has always been about helping others succeed. Now serving as the Administrative Vice President of Minority Business Banking at M&T, she leads the charge in creating a differentiated client experience for Baltimore’s minority and women entrepreneurs.

Source: FDIC Call Report 2022Q4, Bureau of Labor Statistics 2022, ABA analysis

Lending

Lending

  • $28.8 BNew Home Loans Booked in 2022

  • 70,013Number of New Home Loans in 2022

  • $365,000Median New Home Loan Size in 2022

  • $11.5 BSmall Business Loans

  • 495.2 KNumber of Small Business Loans

  • $23,298Average Small Business Loan

  • $1.2 BSmall Farm Loans

  • 20,681Number of Small Farm Loans

  • $58,064Average Small Farm Loan

Source: FFIEC HMDA 2022, FFIEC CRA 2021, FDIC Call Report 2022Q4, ABA analysis

Customers

Customers

  • $209 BDeposits

  • 76Banks Operating Branches

  • 1,247Branches & Offices

  • 940Branches Offering Low Fee Bank On-certified Accounts

Helping Students Find Sustainable Solutions

In 2023, Forbright Bank and the Black Student Fund hosted the first-ever Sustainable Solutions Summit, a week-long event where local Greater Washington high school students collaborated with leading sustainability experts to create a business plan to help solve local environmental issues.

Source: FDIC Summary of Deposits 2022Q2, CFE Fund, ABA analysis

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