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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.

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  • 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



  • $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



  • 6.8 MCustomers

  • $504.5 BDeposits

  • 87Banks Operating Branches

  • 2,147Branches & Offices

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

Drive-thru customers hold up a gift card

An Uplifting Surprise

Drive-thru customers hold up a gift card

Piedmont Federal Savings Bank purchased gift cards from local businesses in the North Carolina communities it serves to hand out to drive-thru customers during the COVID-19 pandemic.

More stories on Serving Customers #

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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