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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.

Find State-by-State Data #
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Jobs

Jobs

  • 28,697Employees

  • $3.7 BTotal Annual Compensation & Benefits

  • $128,314Average Total Compensation & Benefits

  • 36 Banks 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 branch deposit data (2021 Q2), FDIC Call Report 2Q2021, 2021 BLS/US Census Quarterly Census of Employment and Wages (QCEW) for Credit Intermediation and Related Activities, and ABA Analysis

Lending

Lending

  • $28.4 BNew Home Loans Booked in 2021

  • 76,672Number of New Home Loans in 2021

  • $275,000Median New Home Loan Size in 2021

  • $8.5 BSmall Business Loans

  • 442.3 KNumber of Small Business Loans

  • $19,120Average Small Business Loan

  • $506.0 MSmall Farm Loans

  • 6,776Number of Small Farm Loans

  • $64,123Average Small Farm Loan

Lending a Hand to Small Businesses

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: CFPB HMDA data, year-end 2021; FDIC Call Report 2Q2021 and Year-End 2021; 2021 USDA Quarterly Farm data and USDA/Census Data from 2017 State of Ag Survey; 2021 SBA/Census Data and ABA analysis

Customers

Customers

  • 1.8 MCustomers

  • $201.2 BDeposits

  • 80Banks Operating Branches

  • 1,347Branches & Offices

  • 915Branches Offering Low Fee Bank On-certified Accounts

Sources: Estimates based on ABA 2020/2021 survey data; FDIC Summary of Deposit (SOD) 2021Q2 Data; Cities for Financial Empowerment Fund

Giving Back

Giving Back

  • 195.9 KVolunteer Hours

  • $66.2 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.

More stories on this theme #

Source: Estimates based on ABA 2020/2021 survey data

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