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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

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: 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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