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Pennsylvania: Banks’ Economic Impact

Banks support Pennsylvania’s economy with consumer, business and other loans, and by providing more than 77,000 people with a rewarding place to work.

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  • 77,059Employees

  • $8.1 BTotal Annual Compensation & Benefits

  • $104,737Average Total Compensation & Benefits

  • 130Banks Headquartered in State

Source: FDIC Call Report 2022Q4, Bureau of Labor Statistics 2022, ABA analysis



  • $31 BNew Home Loans Booked in 2022

  • 110,261Number of New Home Loans in 2022

  • $245,000Median New Home Loan Size in 2022

  • $24.9 BSmall Business Loans

  • 872.3 KNumber of Small Business Loans

  • $28,594Average Small Business Loan

  • $2 BSmall Farm Loans

  • 30,180Number of Small Farm Loans

  • $65,130Average Small Farm Loan

A banker works remotely to process PPP loans

Serving Customers from Anywhere

A banker works remotely to process PPP loans

Ephrata National Bank’s Christopher Aukamp works from his “basement bunker” to keep PPP loan applications rolling during the COVID-19 pandemic. The Pennsylvania bank’s entire lending team quickly stepped up to put a process in place as proactively as possible in order to support local small businesses in need—using existing internal practices and “banker instinct” to close these much-needed loans.

More stories on Lending #

Source: FFIEC HMDA 2022, FFIEC CRA 2021, FDIC Call Report 2022Q4, ABA analysis



  • $578 BDeposits

  • 171Banks Operating Branches

  • 3,563Branches & Offices

  • 2,180Branches Offering Low Fee Bank On-certified Accounts

Valley National Bank Fosters Employee Inclusion

Valley National Bank has six Associate Resource Groups (ARG), including the Hispanic Organization for Leadership and Advancement (HOLA). Members of HOLA, pictured above, donated time and effort to harvest 16,000 pounds of corn for community members struggling with food insecurity.

Source: FDIC Summary of Deposits 2022Q2, CFE Fund, ABA analysis

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