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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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  • 6,960Employees

  • $523.3 MTotal Annual Compensation & Benefits

  • $75,183Average Total Compensation & Benefits

  • 32Banks Headquartered in State

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



  • $5.4 BNew Home Loans Booked in 2022

  • 18,403Number of New Home Loans in 2022

  • $265,000Median New Home Loan Size in 2022

  • $2.1 BSmall Business Loans

  • 99.9 KNumber of Small Business Loans

  • $21,522Average Small Business Loan

  • $291.7 MSmall Farm Loans

  • 4,928Number of Small Farm Loans

  • $59,192Average Small Farm Loan

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



  • $45.3 BDeposits

  • 56Banks Operating Branches

  • 421Branches & Offices

  • 189Branches 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 2022Q2, CFE Fund, ABA analysis

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