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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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Jobs

Jobs

  • 31,197Employees

  • $3.1 BTotal Annual Compensation & Benefits

  • $100,356Average Total Compensation & Benefits

  • 43Banks Headquartered in State

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

Lending

Lending

  • $18.5 BNew Home Loans Booked in 2023

  • 58,324Number of New Home Loans in 2023

  • $285,000Median New Home Loan Size in 2023

  • $10.4 BSmall Business Loans

  • 358.3 KNumber of Small Business Loans

  • $28,910Average Small Business Loan

  • $834.8 MSmall Farm Loans

  • 13,037Number of Small Farm Loans

  • $64,031Average Small Farm Loan

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

Customers

Customers

  • $125 BDeposits

  • 76Banks Operating Branches

  • 1,166Branches & Offices

  • 663Branches 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 2023Q4, CFE Fund, ABA analysis

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