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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 7,000 people with a rewarding place to work.

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  • 7,842Employees

  • $530.1 MTotal Annual Compensation & Benefits

  • $67,593Average Total Compensation & Benefits

  • 46Banks Headquartered in State

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



  • $2.9 BNew Home Loans Booked in 2022

  • 13,106Number of New Home Loans in 2022

  • $195,000Median New Home Loan Size in 2022

  • $2.2 BSmall Business Loans

  • 72.9 KNumber of Small Business Loans

  • $30,591Average Small Business Loan

  • $214.4 MSmall Farm Loans

  • 3,681Number of Small Farm Loans

  • $58,259Average Small Farm Loan

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



  • $45.2 BDeposits

  • 67Banks Operating Branches

  • 569Branches & Offices

  • 164Branches Offering Low Fee Bank On-certified Accounts

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

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