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Washington: Banks’ Economic Impact

Banks support Washington’s economy with consumer, business and other loans, and by providing more than 24,000 people with a rewarding place to work.

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  • 24,248Employees

  • $2.7 BTotal Annual Compensation & Benefits

  • $110,219Average Total Compensation & Benefits

  • 39Banks Headquartered in State

Hiring Our Heroes

Sound Community Bank in Seattle is a proud participant in Hiring Our Heroes—a partnership with ABA and the U.S. Chamber of Commerce Foundation that connects the military community with employment opportunities in banking.

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



  • $49.1 BNew Home Loans Booked in 2020

  • 117,516Number of New Home Loans in 2020

  • $315,000Median New Home Loan Size in 2020

  • $11.6 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 89,965PPP Loans

  • $33,798Median PPP Loan

  • 1.2 MJobs Supported by PPP

A banker works while wearing a mask

Small Business Support During COVID-19

A banker works while wearing a mask

Downtown Seattle’s First Sound Bank ramped up service hours during COVID-19 in response to PPP loan applications from small businesses. Local customers like Martingale—publisher of quilt, knit and craft books—expressed their gratitude with notes such as this: “Thank you! Thank you! Thank you! These funds will be the lifeblood to help carry us through these challenging times.”

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



  • 5.4 MCustomers

  • $196 BDeposits

  • 76Banks Operating Branches

  • 1,630Branches & Offices

  • 864Branches Offering Low Fee Bank On-certified Accounts

Back on the Road

When Marguerite’s card didn’t work in a London cab, she called her branch of Columbia Bank in Washington. The bank not only ensured her account security, but quickly got her back on the road.

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

  • 189.2 KVolunteer Hours

  • $52.5 MCommunity Donations

Auction Team 2018

Auction Assistance

Auction Team 2018

First Financial Northwest Bank in Renton, WA, created its Auction Team Program in 2017, which provides nonprofits with a team of skilled bankers to assist with fundraising. Bank employees on the Auction Team conduct various components of an auction, including guest check-in, bid tracking, data entry and payment processing—free of cost to the organization. In the program’s first full year, 448 volunteer hours were donated. Less than two years later, donated hours have topped 1,000.

More stories on Giving Back #

Source: Estimates based on ABA 2020/2021 survey data

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