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Washington: Banks’ Economic Impact

Banks support Washington's economy with consumer, business and other loans, and by providing more than 28,000 people with a rewarding place to work.

Find State-by-State Data #
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  • 28,081Employees

  • $4.0 BTotal Annual Compensation & Benefits

  • $142,463Average Total Compensation & Benefits

  • 40 Banks 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 (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



  • $53.0 BNew Home Loans Booked in 2021

  • 110,000Number of New Home Loans in 2021

  • $335,000Median New Home Loan Size in 2021

  • $10.3 BSmall Business Loans

  • 641.2 KNumber of Small Business Loans

  • $16,071Average Small Business Loan

  • $1.3 BSmall Farm Loans

  • 20,125Number of Small Farm Loans

  • $68,772Average Small Farm Loan

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.”

More stories on Lending #

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



  • 4.8 MCustomers

  • $224.3 BDeposits

  • 75Banks Operating Branches

  • 1,543Branches & Offices

  • 858Branches 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.

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

  • 189.2 KVolunteer Hours

  • $52.5 MCommunity Donations

Striving to Put an End to Homelessness

Heritage Bank saw the impact of homelessness in their community, and stepped up to help. The bank financed a $15,150,000 construction loan and provided an equity investment of over $21,000,000 to help build apartments for single adults who have stabilized after homelessness—and that’s just the beginning.

Source: Estimates based on ABA 2020/2021 survey data

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