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Pennsylvania: Banks’ Economic Impact

Banks support Pennsylvania's economy with consumer, business and other loans, and by providing more than 76,000 people with a rewarding place to work.

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Jobs

Jobs

  • 76,362Employees

  • $8.7 BTotal Annual Compensation & Benefits

  • $114,360Average Total Compensation & Benefits

  • 120Banks Headquartered in State

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

Lending

Lending

  • $24.9 BNew Home Loans Booked in 2023

  • 86,798Number of New Home Loans in 2023

  • $245,000Median New Home Loan Size in 2023

  • $21.8 BSmall Business Loans

  • 782.7 KNumber of Small Business Loans

  • $27,801Average Small Business Loan

  • $2 BSmall Farm Loans

  • 30,217Number of Small Farm Loans

  • $65,966Average Small Farm Loan

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

Customers

Customers

  • $563 BDeposits

  • 163Banks Operating Branches

  • 3,435Branches & Offices

  • 2,301Branches Offering Low Fee Bank On-certified Accounts

Valley National Bank Fosters Employee Inclusion

Valley National Bank has six Associate Resource Groups (ARG), including the Hispanic Organization for Leadership and Advancement (HOLA). Members of HOLA, pictured above, donated time and effort to harvest 16,000 pounds of corn for community members struggling with food insecurity.

Source: FDIC Summary of Deposits 2023Q4, CFE Fund, ABA analysis

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