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New Jersey: Banks’ Economic Impact

Banks support New Jersey’s economy with consumer, business and other loans, and by providing more than 62,000 people with a rewarding place to work.

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  • 62,811Employees

  • $10 BTotal Annual Compensation & Benefits

  • $159,163Average Total Compensation & Benefits

  • 55Banks Headquartered in State

Helping Students Realize Their Potential

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



  • $35.1 BNew Home Loans Booked in 2022

  • 81,984Number of New Home Loans in 2022

  • $375,000Median New Home Loan Size in 2022

  • $22.3 BSmall Business Loans

  • 954.4 KNumber of Small Business Loans

  • $23,342Average Small Business Loan

  • $2.5 BSmall Farm Loans

  • 39,440Number of Small Farm Loans

  • $64,520Average Small Farm Loan

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



  • $463 BDeposits

  • 111Banks Operating Branches

  • 2,479Branches & Offices

  • 1,770Branches Offering Low Fee Bank On-certified Accounts

Capture of Lakeland Bank's website with Banks Never Ask That content

Lakeland Bank Displays Dedication to Fighting Fraud

Capture of Lakeland Bank's website with Banks Never Ask That content

Lakeland Bank took full advantage of the resources provided by ABA’s #BanksNeverAskThat campaign. Their efforts to educate customers included posts on their social media platforms and on their website. They provided their customers with tips for spotting a scammer, and best practices for avoiding other account-draining schemes.

More stories on Serving Customers #

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

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