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Virginia: Banks’ Economic Impact

Banks support Virginia’s economy with consumer, business and other loans, and by providing more than 58,000 people with a rewarding place to work.

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  • 58,433Employees

  • $7.8 BTotal Annual Compensation & Benefits

  • $133,549Average Total Compensation & Benefits

  • 63Banks Headquartered in State

Celebrating Women in Leadership

Virginia Business introduced their inaugural Virginia Business Women in Leadership Awards, spotlighting a cohort of executives who have excelled in their careers and are paving the way for other women to follow their example. More than 200 leaders were nominated, making the list of 30 honorees an even higher accolade.

Source: FDIC Call Report 2022Q4, Bureau of Labor Statistics 2022, ABA analysis



  • $43.3 BNew Home Loans Booked in 2022

  • 105,946Number of New Home Loans in 2022

  • $345,000Median New Home Loan Size in 2022

  • $14.5 BSmall Business Loans

  • 603.2 KNumber of Small Business Loans

  • $24,115Average Small Business Loan

  • $1 BSmall Farm Loans

  • 17,519Number of Small Farm Loans

  • $59,111Average Small Farm Loan

Source: FFIEC HMDA 2022, FFIEC CRA 2021, FDIC Call Report 2022Q4, ABA analysis



  • $381 BDeposits

  • 115Banks Operating Branches

  • 1,932Branches & Offices

  • 1,159Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2022Q2, CFE Fund, ABA analysis

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