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California: Banks’ Economic Impact

Banks support California’s economy with consumer, business and other loans, and by providing more than 169,000 people with a rewarding place to work.

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Jobs

Jobs

  • 169,504Employees

  • $26 BTotal Annual Compensation & Benefits

  • $153,101Average Total Compensation & Benefits

  • 132Banks Headquartered in State

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

Lending

Lending

  • $179 BNew Home Loans Booked in 2022

  • 267,667Number of New Home Loans in 2022

  • $565,000Median New Home Loan Size in 2022

  • $83.3 BSmall Business Loans

  • 4 MNumber of Small Business Loans

  • $21,091Average Small Business Loan

  • $11.1 BSmall Farm Loans

  • 171,218Number of Small Farm Loans

  • $64,943Average Small Farm Loan

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

Customers

Customers

  • $2.2 TDeposits

  • 183Banks Operating Branches

  • 6,055Branches & Offices

  • 3,895Branches Offering Low Fee Bank On-certified Accounts

Wells Fargo Strengthens LA Small Businesses

Wells Fargo announced a $20 million donation to help small business owners in Los Angeles own more of their businesses’ assets, including property and equipment.

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

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