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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.

Find State-by-State Data #
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Jobs

Jobs

  • 6,362Employees

  • $525.8 MTotal Annual Compensation & Benefits

  • $82,648Average Total Compensation & Benefits

  • 29Banks Headquartered in State

Source: FDIC Call Report 2023Q4, Bureau of Labor Statistics 2023, ABA analysis

Lending

Lending

  • $4.6 BNew Home Loans Booked in 2023

  • 14,792Number of New Home Loans in 2023

  • $285,000Median New Home Loan Size in 2023

  • $2.3 BSmall Business Loans

  • 100.9 KNumber of Small Business Loans

  • $22,835Average Small Business Loan

  • $295.8 MSmall Farm Loans

  • 4,935Number of Small Farm Loans

  • $59,952Average Small Farm Loan

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

Customers

Customers

  • $43.8 BDeposits

  • 56Banks Operating Branches

  • 410Branches & Offices

  • 264Branches Offering Low Fee Bank On-certified Accounts

Big Town Service, Small Town Attention

Business owners Kerri and Kyle Sandoval turn to Four Corners Community Bank in Farmington, NM, to quickly and thoughtfully meet their needs. “It’s important for us to be at a local bank that understands what a roller coaster the oil and gas industry can be,” says Kerri.

Source: FDIC Summary of Deposits 2023Q4, CFE Fund, ABA analysis

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