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Rhode Island: Banks’ Economic Impact

Banks support Rhode Island's economy with consumer, business and other loans, and by providing more than 9,000 people with a rewarding place to work.

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Jobs

Jobs

  • 9,040Employees

  • $986.9 MTotal Annual Compensation & Benefits

  • $109,165Average Total Compensation & Benefits

  • 7Banks Headquartered in State

Source: FDIC Call Report 2023Q4, Bureau of Labor Statistics 2023, ABA analysis

Lending

Lending

  • $2.8 BNew Home Loans Booked in 2023

  • 7,216Number of New Home Loans in 2023

  • $365,000Median New Home Loan Size in 2023

  • $1.9 BSmall Business Loans

  • 81 KNumber of Small Business Loans

  • $23,170Average Small Business Loan

  • $165.7 MSmall Farm Loans

  • 3,423Number of Small Farm Loans

  • $48,404Average Small Farm Loan

Source: FFIEC HMDA 2023, FFIEC CRA 2023, FDIC Call Report 2023Q4, ABA analysis

Customers

Customers

  • $42.5 BDeposits

  • 20Banks Operating Branches

  • 250Branches & Offices

  • 175Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2023Q4, CFE Fund, ABA analysis

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