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California: Banks’ Economic Impact

Banks support California's economy with consumer, business and other loans, and by providing more than 156,000 people with a rewarding place to work.

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Jobs

Jobs

  • 156,445Employees

  • $25.8 BTotal Annual Compensation & Benefits

  • $164,597Average Total Compensation & Benefits

  • 124Banks Headquartered in State

Source: FDIC Call Report 2023Q4, Bureau of Labor Statistics 2023, ABA analysis

Lending

Lending

  • $127 BNew Home Loans Booked in 2023

  • 194,796Number of New Home Loans in 2023

  • $555,000Median New Home Loan Size in 2023

  • $80.8 BSmall Business Loans

  • 4 MNumber of Small Business Loans

  • $20,304Average Small Business Loan

  • $11.3 BSmall Farm Loans

  • 171,430Number of Small Farm Loans

  • $65,777Average Small Farm Loan

Source: FFIEC HMDA 2023, FFIEC CRA 2023, FDIC Call Report 2023Q4, ABA analysis

Customers

Customers

  • $1.8 TDeposits

  • 187Banks Operating Branches

  • 5,674Branches & Offices

  • 4,687Branches 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 2023Q4, CFE Fund, ABA analysis

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