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New York: Banks’ Economic Impact

Banks support New York’s economy with consumer, business and other loans, and by providing more than 176,000 people with a rewarding place to work.

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Jobs

Jobs

  • 176,554Employees

  • $27.5 BTotal Annual Compensation & Benefits

  • $155,908Average Total Compensation & Benefits

  • 137Banks Headquartered in State

From Fashion to Finance

After seven years in investment banking, Ida Liu switched gears and brought her business skills to the fashion industry.

Source: FDIC branch deposit data (2020), estimates based on ABA 2020/2021 survey data

Lending

Lending

  • $91.5 BNew Home Loans Booked in 2020

  • 169,481Number of New Home Loans in 2020

  • $275,000Median New Home Loan Size in 2020

  • $36.2 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 296,753PPP Loans

  • $27,500Median PPP Loan

  • 4.1 MJobs Supported by PPP

Paul and Antonella DeMarinis

Helping a Local Construction Company Save Jobs

Paul and Antonella DeMarinis

When GSCE Construction was financially impacted by the COVID-19 pandemic, owners Paul and Antonella DeMarinis turned to Ridgewood Savings Bank to help them secure a PPP loan. “We had seven employees when the pandemic started, and we still have seven employees three months later." Adds her husband: “We would like to thank Ridgewood Savings Bank and its people for providing excellent support during this difficult time.”

More stories on Lending #

Source: Estimates based on ABA 2020/2021 survey data, HMDA, SBA PPP Loans

Customers

Customers

  • 21.1 MCustomers

  • $2 TDeposits

  • 209Banks Operating Branches

  • 4,642Branches & Offices

  • 2,212Branches Offering Low Fee Bank On-certified Accounts

Giving Seniors a Friendly Phone Call

Mizuho Americas has always been invested in the well-being of the seniors in their community. In the Broadway theatre district of New York, Encore Community Services has catered to the needs of low-income seniors for 30 years. Encore offers housing, social services and a community center for seniors who need help, housing or friends—and Mizuho Americas has been a long-time partner in their work.

Source: Estimates based on ABA 2020/2021 survey data, FDIC branch deposit data, CFE Fund and S&P Global Market Intelligence

Giving Back

Giving Back

  • 529.7 KVolunteer Hours

  • $205.8 MCommunity Donations

Giving Veterans a Place to Call Home

Citibank’s Bring Them HOMES initiative is a collaboration with the Local Initiatives Support Corporation (LISC) and its affiliate, National Equity Fund (NEF), which finances, facilitates, advocates for and implements affordable housing options for formerly homeless and at-risk veterans.

Source: Estimates based on ABA 2020/2021 survey data

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