Fintech: Southeast News

Fintech Southeast News curated each weekday for Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee




Posted December 09, 2020

BIRMINGHAM, AL — PPP loans have saved numerous Alabama businesses amid the coronavirus pandemic, and no banks have executed more of these loans in the state than Birmingham-based Regions Bank and ServisFirst Bank, according to a Birmingham Business Journal report.

According t the BBJ report, 69,333 PPP loans were distributed in the state, totaling $6,201,899,028. Of those, Regions loaned out $722,004,433.70 among 6,821 loans. ServisFirst Bank, followed with the second-highest number of loans at 3,254, totaling the second-highest amount at $698,520,276.20.

The banks giving the most PPP loans in Alabama:

  1. Regions Bank: 6,820
  2. ServisFirst: 3,254
  3. Kabbage Inc.: 2,653
  4. Synovus Bank: 2,365
  5. BBVA USA: 2,331
  6. RiverBank & Trust: 2,284
  7. Trustmark National Bank: 2,271
  8. BancorpSouth Bank: 1,749
  9. Renasant Bank: 1,705
  10. Bank Independent: 1,700

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