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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 77,000 people with a rewarding place to work.

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Jobs

Jobs

  • 77,799Employees

  • $9.6 BTotal Annual Compensation & Benefits

  • $122,849Average Total Compensation & Benefits

  • 66Banks 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: Estimates based on ABA 2019/2020 survey data

Lending

Lending

  • $12.4 BSmall Business Loans Outstanding

  • $28.8 BNew Home Loans Booked in 2018

  • 87,279Number of New Home Loans in 2018

  • $205,000Median New Home Loan Size in 2018

  • $402.4 MSmall Farm Loans Outstanding

Investing in Success

On nearly 500 acres in Somerset County, NJ, the Raritan estate is a well-known property that includes walking paths, streams and a historic mansion the owner sought to convert into an event venue. It was important to Raritan’s owner to work with a community bank connected to the area’s local fabric and history.

Source: Estimates based on ABA 2019/2020 survey data, HMDA

Customers

Customers

  • 10.8 MTotal Customers

  • $342.9 BDeposits

  • 10 MConsumer

  • 1.7 MSmall Business

  • 12.8 KSmall Farm

  • 126Banks Operating Branches

  • 2,810Branches & Offices

Source: Estimates based on ABA 2019/2020 survey data, FDIC branch deposit data

Giving Back

Giving Back

  • 393.8 KVolunteer hours

  • $140.1 MCommunity Donations

Fulfill Program Participants

This Bank is a Humanitarian of the Year

Fulfill Program Participants

Manasquan Bank in New Jersey means a lot to the communities it serves. A local foodbank called Fulfill honored the bank with its Humanitarian of the Year Award. The bank chose to work with Fulfill for, among other things, the enormous impact it has in addressing hunger. Fulfill, with the bank’s support, provides hope to more than 130,000 people in Monmouth and Ocean Counties. With its more than 300 partners, Fulfill distributes more than 13 million meals each year.

More stories on Giving Back #

Source: Estimates based on ABA 2019/2020 survey data. Does not include individual employee donations.

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