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Maryland: Banks’ Economic Impact

Banks support Maryland’s economy with consumer, business and other loans, and by providing more than 28,000 people with a rewarding place to work.

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Jobs

Jobs

  • 28,659Employees

  • $3.2 BTotal Annual Compensation & Benefits

  • $111,387Average Total Compensation & Benefits

  • 41Banks Headquartered in State

Helping Students Realize Their Potential

Capital One student banker

Since 2007, Capital One Bank has partnered with high schools in Maryland, New Jersey and New York for a student-run bank program that teaches teens not only bank operations, but the importance of budgeting and saving.

Source: Estimates based on ABA 2019/2020 survey data

Lending

Lending

  • $7.4 BSmall Business Loans Outstanding

  • $17.2 BNew Home Loans Booked in 2018

  • 54,571Number of New Home Loans in 2018

  • $215,000Median New Home Loan Size in 2018

  • $462.7 MSmall Farm Loans Outstanding

Lending a Hand to Small Businesses

Loan closing around a bank conference room table

Berlin, Maryland’s Taylor Bank helped its small business customer, Eastern Shore Rural Health, secure a Paycheck Protection Program loan for $3 million to help support the health center’s 300+ employees who work in nearby Virginia.

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

Customers

Customers

  • 4 MTotal Customers

  • $149.7 BDeposits

  • 3.5 MConsumer

  • 506 KSmall Business

  • 18.1 KSmall Farm

  • 87Banks Operating Branches

  • 1,446Branches & Offices

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

Giving Back

Giving Back

  • 280.3 KVolunteer hours

  • $49 MCommunity Donations

Downtown buildings

Putting Residents into New or Renovated Homes

Downtown buildings

TD Bank is helping revitalize the historic Oliver neighborhood in East Baltimore, providing construction financing, project equity and an innovative permanent financing approach. Working with local contractors, TD Bank is helping put residents in 175 new or renovated homes.

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

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