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New Mexico: Banks’ Economic Impact

Banks support New Mexico's economy with consumer, business and other loans, and by providing more than 6,000 people with a rewarding place to work.

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Serving Customers

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Jobs

Jobs

  • 6,095Employees

  • $510.3 MillionTotal Annual Compensation & Benefits

  • $83,730Average Total Compensation & Benefits

  • 29Banks Headquartered in State

Source: FDIC Call Report 2024Q4, Bureau of Labor Statistics 2024, ABA analysis

Lending

Lending

  • $4.9 BillionNew Home Loans Booked in 2024

  • 14,940Number of New Home Loans in 2024

  • $305,000Median New Home Loan Size in 2024

  • $2.3 BillionSmall Business Loans

  • 101.1 ThousandNumber of Small Business Loans

  • $22,829Average Small Business Loan

  • $300.4 MillionSmall Farm Loans

  • 5,056Number of Small Farm Loans

  • $59,404Average Small Farm Loan

Source: FFIEC HMDA 2024, FFIEC CRA 2023, FDIC Call Report 2024Q4, ABA analysis

Customers

Customers

  • $43.7 BillionDeposits

  • 56Banks Operating Branches

  • 407Branches & Offices

  • 222Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2024Q2, CFE Fund, ABA analysis

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