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West Virginia: Banks’ Economic Impact

Banks support West Virginia’s economy with consumer, business and other loans, and by providing more than 9,000 people with a rewarding place to work.

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Jobs

Jobs

  • 9,475Employees

  • $592.2 MTotal Annual Compensation & Benefits

  • $62,501Average Total Compensation & Benefits

  • 47Banks Headquartered in State

Source: FDIC Call Report year-end 2020, estimates based on ABA 2020/2021 survey data

Lending

Lending

  • $4.2 BNew Home Loans Booked in 2020

  • 23,543Number of New Home Loans in 2020

  • $135,000Median New Home Loan Size in 2020

  • $1.8 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 17,258PPP Loans

  • $27,200Median PPP Loan

  • 223.8 KJobs Supported by PPP

Providing Small Business Loans to Aid Low-Income Communities

WesBanco Bank, Inc. generously used its community development corporation to leverage allocations of New Market Tax Credits (NMTC) to fund development and inject capital into highly distressed, low-income communities—located largely in rural Appalachia.

Source: HMDA, SBA PPP Loans, ABA analysis

Customers

Customers

  • 1.6 MCustomers

  • $43.5 BDeposits

  • 68Banks Operating Branches

  • 586Branches & Offices

  • 81Branches Offering Low Fee Bank On-certified Accounts

Source: Estimates based on ABA 2020/2021 survey data, FDIC Summary of Deposits (2021Q2), 2021 CFE Fund

Giving Back

Giving Back

  • 28.4 KVolunteer Hours

  • $19.3 MCommunity Donations

A Commitment to Community

In 2017, United Bank created a bank-wide infrastructure to connect employees with high-impact volunteer opportunities to move the needle on key challenges facing its communities. The anchor of this strategy is the CRA Action Committee which consists of representatives from each of the bank’s 20 markets.

Source: Estimates based on ABA 2020/2021 survey data

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