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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 130,000 people with a rewarding place to work.

Find State-by-State Data #
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Jobs

Jobs

  • 130,288Employees

  • $25.5 BTotal Annual Compensation & Benefits

  • $195,420Average Total Compensation & Benefits

  • 135 Banks 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 (2021 Q2), FDIC Call Report 2Q2021, 2021 BLS/US Census Quarterly Census of Employment and Wages (QCEW) for Credit Intermediation and Related Activities, and ABA Analysis

Lending

Lending

  • $112.9 BNew Home Loans Booked in 2021

  • 200,942Number of New Home Loans in 2021

  • $295,000Median New Home Loan Size in 2021

  • $32.2 BSmall Business Loans

  • 1.9 MNumber of Small Business Loans

  • $17,286Average Small Business Loan

  • $1.3 BSmall Farm Loans

  • 18,296Number of Small Farm Loans

  • $44,919Average Small Farm Loan

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: CFPB HMDA data, year-end 2021; FDIC Call Report 2Q2021 and Year-End 2021; 2021 USDA Quarterly Farm data and USDA/Census Data from 2017 State of Ag Survey; 2021 SBA/Census Data and ABA analysis

Customers

Customers

  • 5.4 MCustomers

  • $2.5 TDeposits

  • 202Banks Operating Branches

  • 4,443Branches & Offices

  • 2,444Branches 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.

Sources: Estimates based on ABA 2020/2021 survey data; FDIC Summary of Deposit (SOD) 2021Q2 Data; Cities for Financial Empowerment Fund

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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