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Tennessee: Banks’ Economic Impact

Banks support Tennessee's economy with consumer, business and other loans, and by providing more than 43,000 people with a rewarding place to work.

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Lending

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Jobs

Jobs

  • 43,118Employees

  • $4.9 BillionTotal Annual Compensation & Benefits

  • $112,540Average Total Compensation & Benefits

  • 116Banks Headquartered in State

Source: FDIC Call Report 2024Q4, Bureau of Labor Statistics 2024, ABA analysis

Lending

Lending

  • $23.3 BillionNew Home Loans Booked in 2024

  • 62,984Number of New Home Loans in 2024

  • $325,000Median New Home Loan Size in 2024

  • $14.7 BillionSmall Business Loans

  • 435 ThousandNumber of Small Business Loans

  • $33,903Average Small Business Loan

  • $837.7 MillionSmall Farm Loans

  • 13,681Number of Small Farm Loans

  • $61,234Average Small Farm Loan

Source: FFIEC HMDA 2024, FFIEC CRA 2023, FDIC Call Report 2024Q4, ABA analysis

Customers

Customers

  • $223 BillionDeposits

  • 176Banks Operating Branches

  • 2,017Branches & Offices

  • 862Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2024Q2, CFE Fund, ABA analysis

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