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Tennessee: Banks’ Economic Impact

Banks support Tennessee’s economy with consumer, business and other loans, and by providing more than 37,000 people with a rewarding place to work.

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Jobs

Jobs

  • 37,844Employees

  • $3.6 BTotal Annual Compensation & Benefits

  • $94,792Average Total Compensation & Benefits

  • 141Banks Headquartered in State

Forging a Special Bond While Feeding Their Community

Troy Rogers, the City of Chattanooga’s public service coordinator, and Michael Mathis, Chattanooga market executive for Regions Bank, came together to transform their community for the better. They became acquainted through their mutual support for United Way of Greater Chattanooga—friendship deepening due to the challenges presented by COVID-19, and the mounting racial unrest in America.

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

Lending

Lending

  • $31.1 BNew Home Loans Booked in 2020

  • 120,888Number of New Home Loans in 2020

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

  • $8.8 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 91,054PPP Loans

  • $21,899Median PPP Loan

  • 1.1 MJobs Supported by PPP

Energy Team

Serving Niche Industries

Energy Team

From music, energy, franchise finance and credit processing, to asset based lending, international banking, mortgage warehouse lending and more, First Horizon National Corporation’s banking experts serve several niche industries. An energy lending group builds relationships with primarily up- and mid-stream companies in the oil and gas industry. The team even conducts site tours to get a first-hand sense of how the businesses operate, helping them better serve their small business customers.

More stories on Lending #

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

Customers

Customers

  • 3.8 MCustomers

  • $193 BDeposits

  • 181Banks Operating Branches

  • 2,024Branches & Offices

  • 919Branches Offering Low Fee Bank On-certified Accounts

Coming Together to Support Small Businesses

When the COVID-19 pandemic impacted small businesses in Wilson County, Tenn., nine community banks and the three local chambers of commerce joined together to help.

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

  • 186.5 KVolunteer Hours

  • $56 MCommunity Donations

Classroom

Teaching Children to Save

Classroom

Employees of The Farmers Bank, headquartered in Portland, TN, give their time and expertise to a variety of financial education programs for students aged pre-K through college—from reading stories about money and savings to nursery school students to participating in ABA Foundation’s Teach Children to Save. During 2019’s Teach Children to Save program, 60 employees read to approximately 2,100 first grade students and 95 classrooms in 27 private and public schools visited.

More stories on Giving Back #

Source: Estimates based on ABA 2020/2021 survey data

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