Community Banks Fuel America's Economy

COMMUNITY BANKS FUEL AMERICA’S ECONOMY

Community banks are significant drivers of the American economy. These institutions account for the vast majority of banks in the country, and they play a major role providing critical financial services to both individual and business customers. They are the biggest lenders to America’s ag community, and as small businesses themselves, they are particularly active in small business lending. They employ more than 460,000 people and make up 41% of the bank branches in the U.S.

Community banks at-a-glance

$3.31 trillion total assets
32,571 branches and offices
463,319 Americans employed
Source Credit: Federal Deposit Insurance Corporation, data as of December 31, 2022

Lending by community banks totaled $2.20 trillion in 2022

1-4 family: $560 billion
Family homes, condos, townhomes

Multifamily: $155 billion
Apartments, high-rises, senior housing, student housing

Small business: $109 billion

Commercial Real Estate: $661 billion
Malls, office buildings, hotels, hospitals, places of worship, warehouses

Agricultural: $145 billion
Farmland and ag production

Construction: $176 billion