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Midsize Banks Fuel America's Economy

  • Published May 12, 2023
  • Updated August 19, 2024

At roughly $10-100 billion in assets, midsize banks are significant drivers of the American economy. While they offer a wide range of financial services and products, midsize banks play leading roles in serving the needs of small and medium-size businesses and the financing of multifamily housing in the U.S. They employ nearly 300,000 people.

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MIDSIZE BANKS FUEL AMERICA’S ECONOMY

At roughly $10-100 billion in assets, midsize banks are significant drivers of the American economy. While they offer a wide range of financial services and products, midsize banks play leading roles in serving the needs of small and medium-size businesses and the financing of multifamily housing in the U.S. In 2023 midsize banks were responsible for $424 billion in commercial & industrial loans and they employ nearly 300,000 people.

Midsize banks at-a-glance

$3.34 trillion total assets
13,656 branches and offices
282,214 Americans employed

Source Credit: Federal Deposit Insurance Corporation, data as of December 31, 2023

Midsize banks help drive America's economic growth and are vital to maintaining a highly competitive and resilient banking system.

Hold more than $2.24 trillion in loans for local communities
Hold 18% of total loans outstanding in the industry
Hold more than 1.74 million small-dollar loans for business totaling nearly $127 billion (includes small business, small commercial real estate, small farmland and small ag production)

Source Credit: Federal Deposit Insurance Corporation, data as of December 31, 2023

Lending by midsize banks totaled $2.24 trillion in 2023

Commercial Real Estate: $587 billion
Malls, office buildings, hotels, hospitals, places of worship, warehouses

1-4 family: $499 billion
Family homes, condos, townhomes

Construction: $170 billion
Builders, property developers

Multifamily: $165 billion
Apartments, high-rises, senior housing, student housing

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Safe & Sound: America's Banks Remain Strong and Resilient

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