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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

  • 41Banks 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 Call Report year-end 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: HMDA, SBA PPP Loans, ABA analysis



  • 5.4 MCustomers

  • $224.3 BDeposits

  • 75Banks Operating Branches

  • 1,543Branches & Offices

  • 854Branches 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 Summary of Deposits (2021Q2), 2021 CFE 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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