What are the top 10 largest banks in the US?

The 10 largest banks in the U.S. are Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank, PNC Bank, Goldman Sachs Bank, Truist Bank, Capital One and TD Bank . Key Takeaways: Chase is the largest bank in the country, holding over $3.38 trillion in assets.

What are the big 5 banks called?

What are the five largest banks in the U.S.? The five largest banks in the U.S., according to domestic assets, are Chase, Bank of America, Wells Fargo Bank, Citibank and U.S. Bank .

What are the big 4 banks in the US?

The “big four banks” in the United States are JPMorgan Chase, Bank of America, Wells Fargo, and Citibank . These banks are not only the largest in the United States, but also rank among the top banks worldwide by market capitalization, with JPMorgan Chase being the most valuable bank in the world.

What is the number 1 Bank of America?

JPMorgan Chase JPMorgan Chase, or Chase Bank, is the biggest bank in America with nearly $3.4 trillion in assets. It boasts a vast network of over 4,800 physical branches and more than 15,000 ATMs.

What are the 12 banks?

The Reserve Banks are decentralized by design and are located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.

Which 5 banks collapsed?

First Republic Bank failed on April 28, 2023. Signature Bank failed on March 12, 2023. Silicon Valley Bank failed on March 10, 2023. Almena State Bank failed on October 23, 2020 .

Is Truist a Chinese company?

Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina. The company was formed in December 2019 as the result of the merger of BB&T (Branch Banking and Trust Company) and SunTrust Banks.

Which is better Wells Fargo or Truist?

Truist ranked 12th out of 27 banks and fintech companies, with a 728 score out of a possible 1,000. Meanwhile, Wells Fargo was 17th with a 714 score — which was the national average score.

Is Truist financially strong?

Truist Financial has total assets of $535.0B and total equity of $59.1B . Total deposits are $394.3B, and total loans are $302.4B. It earns a Net Interest Margin of 3%. It has sufficient allowance for bad loans, which are currently at 0.5% of total loans.

Is JP Morgan Chase the largest bank?

JPMorgan Chase & Co. is an American multinational finance company headquartered in New York City and incorporated in Delaware. It is the largest bank in the United States and the world's largest bank by market capitalization as of 2023.

What are the big 4 banks in us?

Leading banks in Australia The leading banks by assets in the country are ANZ, the Commonwealth Bank, NAB, and Westpac . These are collectively known as the 'big four' and have traditionally dominated Australia's banking industry.

What does PNC stand for?

PNC is the product of a merger of two distinguished Pennsylvania banks in 1983: Pittsburgh National Corporation and Provident National Corporation based in Philadelphia. Each of these institutions had served diverse markets so that merger creating PNC also became the largest bank in Pennsylvania.

Is Charles Schwab considered a bank?

Deposit and lending products and services are offered by Charles Schwab Bank, Member FDIC and Equal Housing Lender ("Schwab Bank"). Charles Schwab & Co., Inc.

These Are The 15 Largest Banks In The U.S.

The 15 largest banks in the United States hold a combined total of around $12.95 trillion in assets as of Dec. 31, 2023.

Every so often there are changes to this exclusive club of top banks in the U.S. Larger banks trade places with one another and smaller banks drop out, replaced by faster-growing rivals. Mergers and acquisitions also might play a part in this.

Or a bank failure could cause consolidation of the largest banks in the U.S., like on May 1 when JPMorgan Chase assumed all of First Republic Bank’s deposits and nearly all of its assets. First Republic was the 14th largest bank, based on consolidated assets, as of March 31, 2023.

First Republic was the second-largest bank failure since Washington Mutual in 2008, which JPMorgan Chase also acquired.

Here are the biggest banks in the U.S. by consolidated assets, according to the latest numbers from the Federal Reserve.

RANK	BANK NAME	TOTAL ASSETS	PREVIOUS RANK
1	JPMorgan Chase	$3.40 trillion	1
2	Bank of America	$2.54 trillion	2
3	Wells Fargo	$1.73 trillion	4
4	Citigroup	$1.68 trillion	3
5	U.S. Bancorp	$650.7 billion	5
6	PNC Financial Services	$557.5 billion	6
7	Truist Bank	$527.5 billion	8
8	Goldman Sachs	$521.1 billion	7
9	Capital One Financial	$475.6 billion	9
10	TD Group US Holdings	$367.2 billion	10
11	Bank of New York Mellon	$332.5 billion	11
12	State Street	$293.2 billion	12
13	BMO	$265.7 billion	13
14	Citizens Financial	$221.8 billion	14
15	First Citizens Bank	$213.8 billion	15

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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 branches in all of the 48 states in the continental U.S. and has more branches than any other bank in the U.S.

Read Bankrate’s review of Chase Bank.

2. Bank of America

Bank of America serves about 68 million consumers and small business clients worldwide. Like many of the biggest banks, it offers robust digital tools that include a versatile mobile app. In early 2022, Bank of America eliminated its nonsufficient funds (NSF) fee and reduced its overdraft fee, following an industry trend.

Read Bankrate’s review of Bank of America.

Assets: $2.54 trillion
Headquarters: Charlotte, North Carolina

3. Wells Fargo

Wells Fargo was founded in 1852. In addition to its main app, Wells Fargo has introduced a savings app and a mobile banking app geared toward millennials. The bank has rebranded and is focusing on repairing its fractured relationship with customers after a series of missteps.

Read Bankrate’s review of Wells Fargo.

Assets: $1.73 trillion
Headquarters: San Francisco

4. Citigroup

Citigroup is a global financial services corporation. Its retail banking division has about 673 locations in the U.S. and more than 1,800 branches outside of the country. U.S. customers can also access more than 65,000 fee-free ATMs.

Read Bankrate’s review of Citibank.

Assets: $1.68 trillion
Headquarters: New York

5. U.S. Bancorp

U.S. Bancorp is the bank holding company and parent company of U.S. Bank. What we’ve come to know as the fifth-largest commercial bank by assets began in 1863 as the First National Bank of Cincinnati. Multiple mergers led to the formation of the bank known today for its extensive branch network and investment in improving its digital offerings.

U.S Bank has branches in more than half of the 50 states.

Read Bankrate’s review of U.S. Bank.

Assets: $650.7 billion
Headquarters: Minneapolis

6. PNC Financial Services

PNC was founded as Pittsburgh Trust and Savings Co. in 1852. That transaction roughly doubled the bank’s size. Today, the bank has around 2,570 locations in 28 states and Washington, D.C.

7. Truist Financial

Truist is the bank formed by the merger of BB&T and SunTrust. Truist provides financial services to about 12 million consumer households, as of 2020.

BB&T and SunTrust, which were ranked the 11th and 12th largest banks by assets, respectively, as of Sept. 30, 2019, now form a top-10 bank. Those two banks have around 275 years of combined history.

Read Bankrate’s review of Truist Bank.

Assets: $527.5 billion
Headquarters: Charlotte, North Carolina

8. Goldman Sachs

Goldman Sachs is a global investment banking, management and securities firm. Its clients have access to a variety of financial services, including banking products through Marcus, its online banking arm that made its debut in fall 2016 and began offering personal loans.

Read Bankrate’s review of Marcus by Goldman Sachs.

Assets: $521.1 billion
Headquarters: New York

9. Capital One Financial

Capital One is a Fortune 500 company with subsidiaries that include Capital One Bank. In addition to branches on the East Coast, it also has branches in Texas and Louisiana. Capital One bank customers in select cities have access to Capital One Cafés, coffee shops with free Wi-Fi where visitors can open accounts and attend financial workshops. Capital One was named the best big bank as part of the 2024 Bankrate Awards.

Read Bankrate’s review of Capital One and its online banking products.

Assets: $475.6 billion
Headquarters: McLean, Virginia

10. TD Group Holdings

TD Bank is the U.S. commercial banking arm of Canada’s TD Bank Group. Customers have access to mortgages, deposit accounts, credit cards and products for commercial and small business clients. The bank has more than 1,100 branches along the East Coast and provides access to around 2,600 branches.

Read Bankrate’s review of TD Bank.

Assets: $367.2 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 traded. Today, Bank of New York Mellon is an investment company that serves different corporations and institutions as well as individual investors. Private banking services are available for its wealthy clients.

Assets: $332.5 billion
Headquarters: New York

12. State Street

Founded in 1792, State Street Corp. is a financial services and asset management company with about 40,000 employees and a global presence in more than 100 markets. Services include investment research and trading and investment management. Its clients include asset owners, insurance companies and pension funds.

Assets: $293.2 billion
Headquarters: Boston

13. BMO

BMO has more than 500 branches in the U.S. Its branches are in Arizona, Illinois, Florida, Indiana, Kansas, Missouri, Minnesota and Wisconsin.

Read Bankrate’s review of BMO.

Assets: $265.7 billion
Headquarters: Chicago

14. Citizens Financial

Citizens offers a suite of retail, small business and commercial banking products. The bank has around 1,200 branches in 14 states, and its customers have access to around 3,300 ATMs. In February 2022, Citizens Financial closed the deal to acquire HSBC branches. The acquisition included HSBC online accounts.

Read Bankrate’s review of Citizens Bank.

Assets: $221.8 billion
Headquarters: Providence, Rhode Island

15. First Citizens Bank

First Citizens Bank has been around for 125 years. In early 2022, CIT Bank merged with First Citizens Bank.

As of Dec. 31, 2021, CIT Bank was the 48th largest bank in the U.S., based on consolidated assets (First Citizens was the 40th largest bank back then).

Read Bankrate’s review of First Citizens Bank for more information.

Assets: $213.8 billion
Headquarters: Raleigh, North Carolina

These Are The 15 Largest Banks In The U.S. | Bankrate (2024)