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Minnesota: Banks’ Economic Impact

Banks support Minnesota’s economy with consumer, business and other loans, and by providing more than 54,000 people with a rewarding place to work.

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  • 54,503Employees

  • $6.6 BTotal Annual Compensation & Benefits

  • $121,167Average Total Compensation & Benefits

  • 256Banks Headquartered in State

Veteran Suprise Collage

Military Spouse Gets a Big Surprise

Veteran Suprise Collage

U.S. Bank employees in Minneapolis participate in many meaningful community organizations. But perhaps none is as emotional as Proud to Serve Business Resource Group, a network of U.S. Bank employees focused on celebrating and honoring veterans, military service members and military families. At a Minnesota Twins baseball game, the group focused on one of their own, surprising product manager Sarah Jones with the return of her husband Dustin after a year-long deployment in Kuwait.

More stories on Jobs #

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



  • $20.3 BNew Home Loans Booked in 2022

  • 63,330Number of New Home Loans in 2022

  • $295,000Median New Home Loan Size in 2022

  • $9.3 BSmall Business Loans

  • 361.1 KNumber of Small Business Loans

  • $25,633Average Small Business Loan

  • $705.6 MSmall Farm Loans

  • 8,141Number of Small Farm Loans

  • $86,673Average Small Farm Loan

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



  • $296 BDeposits

  • 316Banks Operating Branches

  • 1,624Branches & Offices

  • 381Branches Offering Low Fee Bank On-certified Accounts

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

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