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 banksin the country, and they play a major role providing critical financial services to both individual and business customers. Theyare the biggest lenders to America’s agricultural community, and as small businesses themselves, they are particularly activein small business lending. They employ more than 450,000 people and make up 42% of the bank branches in the U.S.

$3.32 trillion total assets
32,459 branches and offices
451,529 Americans employed
Source Credit: Federal Deposit Insurance Corporation, data as of December 31, 2023

Lending by community banks totaled $2.31 trillion in 2023

1-4 family: $612 billion
Family homes, condos, townhomes

Multifamily: $169 billion
Apartments, high-rises, senior housing, student housing

Small business: $111 billion

Commercial Real Estate: $701 billion
Malls, office buildings, hotels, hospitals, places of worship, warehouses

Agricultural: $154 billion
Farmland and ag production

Construction: $189 billion