Economic Study: Banks Play Critical Role in the Granite State’s Economy
Banks in New Hampshire Reinvest Deposits into Their Local Communities at the Highest Levels in the Nation
The New Hampshire Bankers Association (NH Bankers) released a study examining the role banks play in New Hampshire’s economy. Prepared by Polecon Research, the economic study reviews job creation, lending volumes, tax revenues and community support generated by banks in New Hampshire.
Jim Brannen, President of First Seacoast Bank and Chair of NH Bankers said, “This study puts into context what we’ve known all along – banks in New Hampshire fuel economic growth in our state through lending to small businesses, families, and reinvesting in our communities.”
Kristy Merrill, President & CEO of NH Bankers said, “Once again New Hampshire leads the way – this time, with banks in New Hampshire reinvesting deposits into their local communities at levels higher than anywhere in America. We’re proud that ninety-nine cents of every dollar deposited is reinvested into our communities, boosting local businesses and families, creating jobs, generating tax revenues, and supporting the Granite State Economy. Where you place your funds matters, and when you deposit with banks in New Hampshire, you can feel proud knowing that those dollars support our friends, families and neighbors.”
Summary of Key Findings:
According to a newly released study by Polecon Research, banks in New Hampshire reinvest deposits into their local communities at the highest levels in the nation, according to the FDIC*. This significant reinvestment of funds fuels the state’s economy through:
- Job Creation – Banks in New Hampshire support over 17,260 jobs, paying $1.02 billion in wages and benefits;
- Access to Credit – Banks in New Hampshire lent $40 billion in loans in 2024 (including $619 million in small business lending and $2.15 billion in mortgages;
- Tax Revenues & Community Support – Banks in New Hampshire contribute $127 million in 2024 state and local tax revenues and donate nearly $15 million in charitable causes in 2025;
- Leading the Nation in Access to Banking – Banks in New Hampshire serve a high percentage of the population and is among the best in the nation for access to banking services, with only 1.1% of households being unbanked.
* https://www.fdic.gov/section-109-host-state-loan-deposit-ratios.pdf
With support from the American Bankers Association, the data comes from Putting New Hampshire Dollars to Work in the Granite State: The Critical Role of Banks in New Hampshire on the State’s Economy, an economic study released by Brian Gottlob of Polecon Research in November 2025.