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Vermont: Banks’ Economic Impact

Banks support Vermont's economy with consumer, business and other loans, and by providing more than 2,000 people with a rewarding place to work.

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Jobs

Jobs

  • 2,582Employees

  • $240.8 MTotal Annual Compensation & Benefits

  • $93,249Average Total Compensation & Benefits

  • 11 Banks Headquartered in State

Source: FDIC branch deposit data (2021 Q2), FDIC Call Report 2Q2021, 2021 BLS/US Census Quarterly Census of Employment and Wages (QCEW) for Credit Intermediation and Related Activities, and ABA Analysis

Lending

Lending

  • $2.3 BNew Home Loans Booked in 2021

  • 8,293Number of New Home Loans in 2021

  • $205,000Median New Home Loan Size in 2021

  • $941.4 MSmall Business Loans

  • 71.6 KNumber of Small Business Loans

  • $13,156Average Small Business Loan

  • $231.0 MSmall Farm Loans

  • 3,862Number of Small Farm Loans

  • $36,455Average Small Farm Loan

Peoples Trust Company Aids Local Restaurant

Peoples Trust Company went to great lengths to ensure local businesses would have a shot at success during the COVID-19 pandemic. Tom Murphy, owner of Twiggs Restaurant in St. Albans, Vt., partnered with Peoples Trust Company—receiving a PPP loan to protect his business. With their help, Murphy was able to save the jobs of all 60 of his employees.

Source: CFPB HMDA data, year-end 2021; FDIC Call Report 2Q2021 and Year-End 2021; 2021 USDA Quarterly Farm data and USDA/Census Data from 2017 State of Ag Survey; 2021 SBA/Census Data and ABA analysis

Customers

Customers

  • 1.0 MCustomers

  • $18.6 BDeposits

  • 24Banks Operating Branches

  • 225Branches & Offices

  • 56Branches Offering Low Fee Bank On-certified Accounts

Surviving and Thriving After the Storm

Brattleboro Savings in Vermont is now a major partner for residents in Wilmington. Amy Sullivan credits the bank for responsiveness as she rebuilt her store following Hurricane Irene.

Sources: Estimates based on ABA 2020/2021 survey data; FDIC Summary of Deposit (SOD) 2021Q2 Data; Cities for Financial Empowerment Fund

Giving Back

Giving Back

  • 31.9 KVolunteer Hours

  • $7.4 MCommunity Donations

Source: Estimates based on ABA 2020/2021 survey data

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