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South Carolina: Banks’ Economic Impact

Banks support South Carolina’s economy with consumer, business and other loans, and by providing more than 31,000 people with a rewarding place to work.

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  • 31,459Employees

  • $2.9 BTotal Annual Compensation & Benefits

  • $92,052Average Total Compensation & Benefits

  • 46Banks Headquartered in State

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



  • $21.4 BNew Home Loans Booked in 2022

  • 67,995Number of New Home Loans in 2022

  • $275,000Median New Home Loan Size in 2022

  • $9 BSmall Business Loans

  • 347.3 KNumber of Small Business Loans

  • $25,832Average Small Business Loan

  • $823.2 MSmall Farm Loans

  • 13,021Number of Small Farm Loans

  • $63,219Average Small Farm Loan

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



  • $128 BDeposits

  • 76Banks Operating Branches

  • 1,147Branches & Offices

  • 514Branches Offering Low Fee Bank On-certified Accounts

South Atlantic Bank Fights Phishing

One look at their Facebook, Instagram and LinkedIn pages will show that South Atlantic Bank in Myrtle Beach, SC is enthusiastic about ABA’s #BanksNeverAskThat campaign. They shared important anti-phishing messaging with both customers and employees so that everyone who interacts with the bank knows how to converse about the threat of phishing.

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

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