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Mississippi: Banks’ Economic Impact

Banks support Mississippi’s economy with consumer, business and other loans, and by providing more than 17,000 people with a rewarding place to work.

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Find State-by-State Data #
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Jobs

Jobs

  • 17,699Employees

  • $1.9 BTotal Annual Compensation & Benefits

  • $109,087Average Total Compensation & Benefits

  • 69Banks Headquartered in State

Heather Amaden on her boat

Going the Extra Mile

Heather Amaden on her boat

Bank of Anguilla employee Heather Amaden arrives to the bank’s Cary location by boat after Mississippi suffered damaging floods. Amaden commuted by boat five days a week while the community recovered—a testament to hers and so many other bank employees' commitment to serving their customers.

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

Lending

Lending

  • $8.4 BNew Home Loans Booked in 2020

  • 45,899Number of New Home Loans in 2020

  • $155,000Median New Home Loan Size in 2020

  • $3.1 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 45,017PPP Loans

  • $19,658Median PPP Loan

  • 437.9 KJobs Supported by PPP

A banker collects a loan application in the bank’s parking lot

Assisting Mississippi Small Businesses

A banker collects a loan application in the bank’s parking lot

Bank of Anguilla staff go to great lengths to assist small businesses in Mississippi during the COVID-19 pandemic, including collecting loan applications in the bank’s parking lot to keep customers and employees safe. Seen here is head lender MacKenzie Parker closing a loan with a customer in the bank’s Anguilla location.

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

Customers

Customers

  • 4 MCustomers

  • $65 BDeposits

  • 91Banks Operating Branches

  • 1,117Branches & Offices

  • 377Branches Offering Low Fee Bank On-certified Accounts

Chalk art on a sidewalk

Creative Encouragement

Chalk art on a sidewalk

Region’s Bank in Petal, Mississippi, took a colorful approach towards social distancing during the COVID-19 pandemic. While the bank was operating only drive-thru and appointment-only, it knew there would be a lot of walk-up traffic, so they created colorful chalk drawings with encouraging messages for their customers and employees.

More stories on Serving Customers #

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

  • 77.7 KVolunteer Hours

  • $29 MCommunity Donations

Two Banks Ensure Plenty of Change

Renasant Bank and BancorpSouth, headquartered across the street from each other, are leading a major renewal in Tupelo, MS.

More on this story More stories on Giving Back #

Source: Estimates based on ABA 2020/2021 survey data

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