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North Carolina: Banks’ Economic Impact

Banks support North Carolina’s economy with consumer, business and other loans, and by providing more than 90,000 people with a rewarding place to work.

Find State-by-State Data #
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Jobs

Jobs

  • 90,547Employees

  • $13.3 BTotal Annual Compensation & Benefits

  • $146,971Average Total Compensation & Benefits

  • 47Banks Headquartered in State

Source: FDIC Call Report year-end 2020, estimates based on ABA 2020/2021 survey data

Lending

Lending

  • $38.9 BNew Home Loans Booked in 2020

  • 140,591Number of New Home Loans in 2020

  • $215,000Median New Home Loan Size in 2020

  • $11.8 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 120,099PPP Loans

  • $25,769Median PPP Loan

  • 1.5 MJobs Supported by PPP

Bankers standing around a generator

No Challenge Too Great

Bankers standing around a generator

At Fidelity Bank in Garner, North Carolina, nothing could stop the dedicated staff from processing PPP loans to help small business customers during the COVID-19 pandemic—not even an unexpected power outage. So when that happened, what did the team do? They fired up the generator and got back to work.

More stories on Lending #

Source: HMDA, SBA PPP Loans, ABA analysis

Customers

Customers

  • 6.8 MCustomers

  • $504.5 BDeposits

  • 87Banks Operating Branches

  • 2,147Branches & Offices

  • 1,157Branches Offering Low Fee Bank On-certified Accounts

Strengthening Charlotte’s Small Businesses

Wells Fargo donated $20 million in grants to the Foundation For The Carolinas to help Charlotte-based small business owners take control of more of their business assets—including property, equipment and technology—which will reach 1,000 small businesses over the next three years.

Source: Estimates based on ABA 2020/2021 survey data, FDIC Summary of Deposits (2021Q2), 2021 CFE Fund

Giving Back

Giving Back

  • 660.4 KVolunteer Hours

  • $331.5 MCommunity Donations

Working together

Nourishment to Boost Classroom Success

Working together

Live Oak Bank in North Carolina has donated $87,648 to NourishNC since 2016. The organization’s mission is to “provide healthy food to hungry kids, empowering them to succeed in the classroom and in their community.” In 2018, the bank donated enough food for 500+ team members to pack 100,000+ meals in an hour at an “all hands on deck” meeting, part of a commitment totaling more than 1,000 volunteer hours spent sorting and packing food that included multiple donation drives on the bank’s campus.

More stories on Giving Back #

Source: Estimates based on ABA 2020/2021 survey data

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