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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.

Find State-by-State Data #
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Jobs

Jobs

  • 9,475Employees

  • $592.2 MTotal Annual Compensation & Benefits

  • $62,501Average Total Compensation & Benefits

  • 43Banks Headquartered in State

Source: FDIC branch deposit data (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

A woman wearing a mask and apron operates an espresso machine

Saving Jobs in West Virginia

A woman wearing a mask and apron operates an espresso machine

Paycheck Protection Program loans delivered much-needed financial relief to businesses in West Virginia during the COVID-19 pandemic. Ninety-eight percent of the 204,000+ jobs saved were a result of PPP government loans facilitated by America’s banks.

More stories on Lending #

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

Customers

Customers

  • 1.6 MCustomers

  • $39 BDeposits

  • 68Banks Operating Branches

  • 598Branches & Offices

  • 82Branches Offering Low Fee Bank On-certified Accounts

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

  • 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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