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Pennsylvania: Banks’ Economic Impact

Banks support Pennsylvania's economy with consumer, business and other loans, and by providing more than 70,000 people with a rewarding place to work.

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  • 70,474Employees

  • $7.1 BTotal Annual Compensation & Benefits

  • $101,275Average Total Compensation & Benefits

  • 137 Banks Headquartered in State

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



  • $45.7 BNew Home Loans Booked in 2021

  • 195,535Number of New Home Loans in 2021

  • $165,000Median New Home Loan Size in 2021

  • $16.1 BSmall Business Loans

  • 948.4 KNumber of Small Business Loans

  • $16,958Average Small Business Loan

  • $1.8 BSmall Farm Loans

  • 28,189Number of Small Farm Loans

  • $59,386Average 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: 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



  • 6.5 MCustomers

  • $563.6 BDeposits

  • 176Banks Operating Branches

  • 3,732Branches & Offices

  • 1,840Branches 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.

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

  • 220.0 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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