Delaware's business friendly environment, along with its progressive laws and chancery court system, make it a national leader in the banking industry. The Delaware financial services industry is diverse. Some of the country's largest financial institutions have operations in the State, as well as state-charted Community Banks, Savings Banks and Trust Companies. Delaware financial institutions keep local economies growing by providing tax dollars in excess of $80 million annually that support education, healthier communities and economic development.
Since 198Since 1981, when the Financial Center Development Act ushered in Delaware’s modern era of banking, jobs in banking and financial services have increased over 740%. As of December 31, 2020 banks employed over 37,800 individuals. That’s a growth rate that would make any state envious.
In addition to providing good-paying jobs, Delaware banks provide mortgages to homeowners and loans to businesses. Delaware banks demonstrate their commitment to the First State by being good corporate citizens and investing in the community. Delaware banks provide monetary support through grants to civic organizations and charities, and bank employees back up those dollars by volunteering their time. Annually banks provide tens of millions of dollars to hundreds of non-profit groups and community agencies all across the State and contribute over 254,000 hours in service.
Founded in 1895, the Delaware Bankers Association is a not-for-profit private trade association comprised of tax paying international, national and state-chartered banks, savings banks, trust companies, and banks with operations in the State of Delaware. The DBA represents the collective interests of the Financial Services Industry in the State of Delaware. The DBA provides members with a forum to exchange valuable industry information to maintain a safe and viable financial services industry.
The DBA serves as the voice of the banking and trust industry to state and federal legislators and regulatory agencies. The DBA actively participates in legislative and regulatory affairs at the state level including drafting, monitoring and supporting legislation beneficial to the banking and trust business in Delaware. The DBA communicates with and educates legislators, the media, regulatory agencies and the public on issues affecting the financial services industry. The DBA works with other state bankers associations and the American Bankers Association to monitor federal legislation and advocate on behalf of its members.