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Maryland: Banks’ Economic Impact

Banks support Maryland’s economy with consumer, business and other loans, and by providing more than 29,000 people with a rewarding place to work.

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Jobs

Jobs

  • 29,962Employees

  • $3.5 BTotal Annual Compensation & Benefits

  • $117,718Average Total Compensation & Benefits

  • 44Banks 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. In light of her incredible work, Miller is the recipient of the 2020 George Bailey Distinguished Service Award.

Source: FDIC branch deposit data (2020), estimates based on ABA 2020/2021 survey data

Lending

Lending

  • $28.8 BNew Home Loans Booked in 2020

  • 79,324Number of New Home Loans in 2020

  • $295,000Median New Home Loan Size in 2020

  • $9.6 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 76,112PPP Loans

  • $30,400Median PPP Loan

  • 1 MJobs Supported by PPP

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: Estimates based on ABA 2020/2021 survey data, HMDA, SBA PPP Loans

Customers

Customers

  • 4 MCustomers

  • $182 BDeposits

  • 83Banks Operating Branches

  • 1,432Branches & Offices

  • 1,032Branches Offering Low Fee Bank On-certified Accounts

Source: Estimates based on ABA 2020/2021 survey data, FDIC branch deposit data, CFE Fund and S&P Global Market Intelligence

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 Giving Back #

Source: Estimates based on ABA 2020/2021 survey data

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