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Pennsylvania: Banks’ Economic Impact

Banks support Pennsylvania’s economy with consumer, business and other loans, and by providing more than 73,000 people with a rewarding place to work.

Find State-by-State Data #
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Jobs

Jobs

  • 73,328Employees

  • $7.1 BTotal Annual Compensation & Benefits

  • $96,975Average Total Compensation & Benefits

  • 137Banks Headquartered in State

Source: FDIC branch deposit data (2020), estimates based on ABA 2020/2021 survey data

Lending

Lending

  • $41.6 BNew Home Loans Booked in 2020

  • 184,337Number of New Home Loans in 2020

  • $165,000Median New Home Loan Size in 2020

  • $20.1 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 158,852PPP Loans

  • $29,769Median PPP Loan

  • 2.1 MJobs Supported by PPP

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: Estimates based on ABA 2020/2021 survey data, HMDA, SBA PPP Loans

Customers

Customers

  • 10.5 MCustomers

  • $501 BDeposits

  • 177Banks Operating Branches

  • 3,914Branches & Offices

  • 1,917Branches Offering Low Fee Bank On-certified Accounts

Source: Estimates based on ABA 2020/2021 survey data, FDIC branch deposit data, CFE Fund and S&P Global Market Intelligence

Giving Back

Giving Back

  • 220 KVolunteer Hours

  • $174.4 MCommunity Donations

Filling a Community Need a Second Time Around

Pennsylvania’s FNCB held a ‘She Shed’ giveaway to find their temporary drive-thru building a new home. Local nonprofit Country Heart Farm now uses the building to hold therapy and after-school programs for the community.

Source: Estimates based on ABA 2020/2021 survey data

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