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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 26,000 people with a rewarding place to work.

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  • 26,245Employees

  • $2.4 BTotal Annual Compensation & Benefits

  • $90,203Average Total Compensation & Benefits

  • 46Banks Headquartered in State

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



  • $23.3 BNew Home Loans Booked in 2020

  • 83,948Number of New Home Loans in 2020

  • $205,000Median New Home Loan Size in 2020

  • $5.5 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 59,574PPP Loans

  • $25,616Median PPP Loan

  • 724.9 KJobs Supported by PPP

South Carolina Banks Step Up

South Atlantic Bank helped small business clients in South Carolina secure PPP loans while taking precautions to keep their customers and employees safe.

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



  • 3.9 MCustomers

  • $105 BDeposits

  • 74Banks Operating Branches

  • 1,198Branches & Offices

  • 427Branches 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: Estimates based on ABA 2020/2021 survey data, FDIC branch deposit data, CFE Fund and S&P Global Market Intelligence

Giving Back

Giving Back

  • 166.1 KVolunteer Hours

  • $68.5 MCommunity Donations

Source: Estimates based on ABA 2020/2021 survey data

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