The fifteen largest banks in the United States hold a total of about $12.9 trillion in assets per year. September 30, 2023.
From time to time, changes take place in this exclusive club of top American banks. Larger banks trade with each other, and smaller banks drop out and are replaced by faster-growing rivals. Mergers and acquisitions can also play a role in this.
Or a bank failure could lead to consolidation of the largest banks in the United States, as on May 1, when JPMorgan Chase took over all the banks.First Republic Bank's deposits and substantially all of its assets. First Republic was the 14th largest bank by consolidated assets as of March 31, 2023.
The first republic wassecond largest bank failuresince Washington Mutual in 2008, which also bought JPMorgan Chase. But Silicon Valley Bank it wasthe second largest bank to fail in US historyInfirst failure since October 2020. Based on consolidated assets, it was the 16th largest bank in the United States as of December 31, 2022, placing it just outside this list. Previously, in 2022, it was on this list as the 14th largest bank as of September 30, 2022.
These are the largest banks in the United States, measured by consolidated assets, according to the latest figures from the Federal Reserve.
| BEL | MY BANK NAME | TOTAL ASSETS | FORMER RANK |
|---|---|---|---|
| 1 | JPMorgan Chase | $3.39 billion | 1 |
| 2 | Bank of America | $2.47 billion | 2 |
| 3 | Wells Fargo | $1.70 trillion | 4 |
| 4 | Citigroep | $1.66 trillion | 3 |
| 5 | American Bancorp | $657.2 billion | 5 |
| 6 | PNC financial services | $553.1 billion | 6 |
| 7 | Goldman Sachs | $538.1 billion | 8 |
| 8 | Truist Bank | $535 billion | 7 |
| 9 | Capital one financial | $468.8 billion | 9 |
| 10 | TD Group American holdings | $366.3 billion | 10 |
| 11 | Bank of New York Mellon | $328.5 billion | 11 |
| 12 | State Street | $280.5 billion | 12 |
| 13 | BMO | $260.8 billion | 13 |
| 14 | Civic economics | $225 billion | 14 |
| 15 | First Citizens Bank | $213.6 billion | 15 |
1. JPMorgan Chase
Chase Bank is the consumer banking division of JPMorgan Chase. It currently has more than 4,700 branches and more than 16,000 ATMs.
Chase has locations in all 48 states of the continental United States and has more branches than any other bank in the United States.
Read Bank RatesChase Bank review.
- Activate: $ 3.39 billion
- Headquarters: New York
2. Bank of America
Bank of America serves approximately 68 million personal and small business customers worldwide. Like many of the largest banks, it offers robust digital tools, including a feature-rich mobile app. In early 2022, Bank of America eliminated the non-sufficient funds (NSF) feereduced the overdraft fee, following an industry trend.
Read Bank Ratesreview of Bank of America.
- Activate: $ 2.47 billion
- Headquarters: Charlotte, North Carolina
3. Wells Fargo
Wells Fargo was founded in 1852. In addition to the main app, Wells Fargo has introduced a savings app and a mobile banking app aimed at millennials. The bank has been rebranded and is focusing on repairing damaged relationships with customers after a series of missteps.
Read Bank RatesWells Fargo review.
- Activate: $ 1.70 billion
- Headquarters: San Francisco
4. Citigroep
Citigroup is a global financial company. The retail banking division has approximately 673 locations in the United States and more than 1,800 branches outside the country. US customers also have access to more than 65,000 free ATMs.
Read Bank RatesCitibank review.
- Activate: $ 1.66 billion
- Headquarters: New York
5. American Bancorp
US. Bancorp is the bank holding company and parent company of the US. Bank. What we have come to know as the fifth largest commercial bank by assets began in 1863 as the First National Bank of Cincinnati. Several mergers have led to the creation of the bank that is today known for its extensive branch network and investments in improving its digital offering.
US. The bank has locations in more than half of the 50 states.
Read Bank Ratesreview from us Sofa.
- Activate: $657.2 billion
- Headquarters: Minneapolis
6. PNC Financial Services
PNC was incorporated as the Pittsburgh Trust and Savings Co. in 1852. That transaction roughly doubled the bank's size. Today, the bank has approximately 2,570 locations in 28 states and Washington, D.C.
PNC agreed to take overBBVA VSfor $11.6 billion in November 2020, and the deal closed on June 1, 2021.
Read Bank Ratesreview of PNC Bank.
- Activate: $553.1 billion
- Headquarters: Pittsburgh
7. Goldman Sachs
Goldman Sachs is a global investment banking, management and securities firm. Its customers have access to a range of financial services, including banking products, through Marcus, the online banking division that debuted and began operating in late 2016offers personal loans.
Read Bank Ratesreview by Marcus from Goldman Sachs.
- Activate: $538.1 billion
- Headquarters: New York
8. Truist Financial
Truist is the bank created by the merger of BB&T and SunTrust. As of 2020, Truist will provide financial services to approximately 12 million consumer households.
BB&T and SunTrust, which ranked 11th and 12th respectively by assets as of September 30, 2019, now make up a top 10 bank ranking. These two banks have a combined history of approximately 275 years.
Read Bank Ratesreview of Truist Bank.
- Activate: $535 billion
- Headquarters: Charlotte, North Carolina
9. Capital one financial
Capital One is a Fortune 500 company with subsidiaries including Capital One Bank. In addition to locations on the East Coast, it also has locations in Texas and Louisiana. Capital One banking customers in select cities have access to Capital One Cafés, coffee shops with free Wi-Fi where visitors can open accounts and participate in financial workshops. The capital wasvoted the best large bankas part of the Bankrate Awards 2024.
Read Bank Ratesreview of Capital Oneand its online banking products.
- Activate: $ 468.8 billion
- Headquarters: McLean, Virginia
10. TD Group Holdings
TD Bank is the American commercial banking division of Canada's TD Bank Group. Customers have access to mortgages, deposit accounts, credit cards and products for commercial and small business customers. The bank has more than 1,100 branches along the East Coast and offers access to approximately 2,600 branches.
Read Bank Ratesreview of TD Bank.
- Activate: $366.3 billion
- Headquarters: Cherry Hill, New Jersey
11. Bank of New York Mellon
When the New York Stock Exchange opened in 1792, the Bank of New York was the first company to trade. Today, Bank of New York Mellon is an investment company that serves various companies and institutions as well as individual investors. Private banking services are available to wealthy clients.
- Activate: $328.5 billion
- Headquarters: New York
12. Statsgade
Founded in 1792, State Street Corp. is a financial services and asset management company with approximately 40,000 employees and a global presence in more than 100 markets. Services include investment analysis and trade and investment management. Her clients include asset owners, insurers and pension funds.
- Activate: $ 280.5 billion
- Headquarters: Boston
13. BMO
BMO has more than 500 locations in the United States. The locations are in Arizona, Illinois, Florida, Indiana, Kansas, Missouri, Minnesota and Wisconsin.
Read Bank Ratesrevision of BMO.
- Activate: $ 260.8 billion
- Headquarters: Chicago
14. Civic economy
Citizens offers a range of personal, small business and commercial banking products. The bank has approximately 1,200 branches in 14 states and its customers have access to approximately 3,300 ATMs. In February 2022, Citizens Financial closed the deal to acquire HSBC branches. The purchase included HSBC online accounts.
Read Bank Ratesoverview of Borgerbanken.
- Activate: $ 225 billion
- Headquarters: Providence, Rhode Island
15. First Citizens-bank
First Citizens Bank has been in business for 125 years. In early 2022, CIT Bank merged with First Citizens Bank.
As of December 31, 2021, CIT Bank was the 48th largest bank in the United States, based on consolidated assets (First Citizens was the 40th largest bank at the time).
Read Bankrate's review ofFirst Citizens Bankfor information only.
- Activate: $ 213.6 billion
- Headquarters: Raleigh, North Carolina
