Quick Facts About America's Banks

America’s Banks play a critical role in the U.S. economy. From supporting the recovery by providing unprecedented relief to individual and business customers affected by the pandemic, to making transactions safe, accessible and convenient, and expanding financial inclusion, banks of all sizes make a difference in their communities every day.

• 5,033 banks of different sizes, types and charters
• $21.2 trillion assets held by banks
• 94% of banks are classified as small business using SBA guidelines
• 2.07 million people are employed by banks in the U.S.
• 84,350 branches serve customers across the U.S. from large urban city-centers to small rural communities
• 9 out of 10 consumers are happy with their bank

Banks Support the Economy and Help Individuals and Families Secure a Brighter Future

Bank Loans Help Consumers Achieve Their Goals

Banks provide many different types of consumer loans allowing their customers to reach important milestones in their lives.

• 68% mortgages
• 3% home equity revolving
• 11% student loans
• 9% auto loans
• 6% credit card
• 3% other

Business Lending Supports Economic Growth

Banks help businesses of all shapes and sizes operate successfully, grow and invest — creating jobs for Americans.

Lending a Hand to Small Businesses

Berlin, Maryland’s Taylor Bank helped its small business customer, Eastern Shore Rural Health, secure a Paycheck Protection Program loan for $3 million to help support the health center’s 300+ employees who work in nearby Virginia. The center serves the needs of the rural community by providing accessible, comprehensive and affordable medical, dental and health services in a caring, professional and safe environment.

See more stories like this at aba.com/AmericasBanks

Bank Capital Remains at an All-Time High and Asset Quality is Healthy

Banks Are In a Healthy Capital Position

Banks maintain strong capital levels — a solid foundation to support loan growth and a buffer for the significant economic downturn caused by the pandemic.

Banks Key to Success of Paycheck Protection Program

Working collaboratively with the government, banks of all sizes facilitated 89% of all PPP loans in the first round, totaling 95% of PPP dollars for small businesses across the U.S. This assistance directly supported nearly 50M jobs according to U.S. Treasury.

• 5.2 million PPP loans — 89% from banks
  • $108,235 average PPP loan
• $523 billion PPP dollars — 95% from banks
• 50 million jobs supported — 94% from banks

Banking Fast Facts

Deposits

• $17.1 trillion in deposits are held by banks
• 94.6% of households have either a checking or savings account
• $83.1 billion in FDIC assessments paid by banks over last 10 years
• 251 million retail customers and 55 million small business customers

Loans

• $454.9 billion in business loans have been added over the last two years
• $10.9 trillion in loans are held by banks
• 24 million in small business loans have been made by banks in 2020
• $2.24 trillion are held on banks' books in mortgage loans

Safety and Convenience

• 99% of consumers rate their bank's online and mobile app experience as excellent, very good or good
• 84% of Americans say tech improvements by banks are making it easier to access financial services
• $22.3 billion in attempted deposit account fraud is stopped annually by banks

America's Economy Needs Banks of All Sizes

Small Banks Play a Big Role in a Diverse Industry

Most banks are small, serving the unique needs of their local communities.

But Maintaining the Industry's Diversity Has Become Harder

Competitive pressures, regulatory compliance costs, and historically low interest rates are all contributing to the loss of smaller community banks through consolidation and have made it harder for new banks to enter the market. Since 2010, only 32 new banks have been chartered.

Support Policies that Permit Banks to Serve Their Communities and Their Customers