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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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  • 9,653Employees

  • $976.2 MTotal Annual Compensation & Benefits

  • $101,128Average Total Compensation & Benefits

  • 7Banks Headquartered in State

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



  • $3.7 BNew Home Loans Booked in 2022

  • 9,980Number of New Home Loans in 2022

  • $345,000Median New Home Loan Size in 2022

  • $2.4 BSmall Business Loans

  • 89.9 KNumber of Small Business Loans

  • $26,447Average Small Business Loan

  • $163.4 MSmall Farm Loans

  • 3,418Number of Small Farm Loans

  • $47,791Average Small Farm Loan

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



  • $44.3 BDeposits

  • 20Banks Operating Branches

  • 235Branches & Offices

  • 110Branches Offering Low Fee Bank On-certified Accounts

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

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