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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 168,000 people with a rewarding place to work.

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Jobs

Jobs

  • 168,095Employees

  • $29.4 BTotal Annual Compensation & Benefits

  • $175,186Average Total Compensation & Benefits

  • 144Banks 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: Estimates based on ABA 2019/2020 survey data

Lending

Lending

  • $22.8 BSmall Business Loans Outstanding

  • $75.3 BNew Home Loans Booked in 2018

  • 146,781Number of New Home Loans in 2018

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

  • $1.2 BSmall Farm Loans Outstanding

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 2019/2020 survey data, HMDA

Customers

Customers

  • 21 MTotal Customers

  • $1.7 TDeposits

  • 17.4 MConsumer

  • 4.6 MSmall Business

  • 902.4Small Farm

  • 211Banks Operating Branches

  • 4,795Branches & Offices

Giving Seniors a Friendly Phone Call

Mizuho Americas Bank 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 has been a long-time partner in their work.

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

Giving Back

Giving Back

  • 421.8 KVolunteer hours

  • $170.9 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 2019/2020 survey data. Does not include individual employee donations.

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