The 15 Biggest Banks in the US (2024)

The final quarter of 2023 saw a shake-up in the rankings of the 15 largest US banks. Wells Fargo pushed Citibank out of the No. 3 spot, and Fifth Third Bank claimed the final position, removing First Citizens Bank from the top 15 altogether. Overall, the amount of assets controlled by many of the largest US banks is trending upward. Unsurprisingly, JPMorgan Chase has retained the top spot as the largest US bank, as it’s done for more than 20 years.

In its latest release, based on data as of Dec. 31, 2023, the Federal Reserve ranked 2,129 US commercial banks. Read on to see how the 15 biggest banks in the US stack up today.

RankingBank NameAssets
1JPMorgan Chase$3.40 trillion
2Bank of America$2.54 trillion
3Wells Fargo$1.73 trillion
4Citibank$1.68 trillion
5U.S. Bank$650.7 billion
6PNC$557.5 billion
7Truist Bank$527.5 billion
8Goldman Sachs$521.1 billion
9Capital One$475.6 billion
10TD Bank$367.2 billion
11Bank of New York Mellon$332.5 billion
12State Street Bank and Trust Co.$293.2 billion
13BMO$265.7 billion
14Citizens Bank$221.8 billion
15Fifth Third Bank$213.8 billion

1. JPMorgan Chase Bank

Consolidated assets: $3.40 trillion

New York-based JPMorgan Chase Bank tops the Federal Reserve’s list of largest banks by consolidated assets owned at $3.40 trillion, of which $2.65 trillion represents assets owned domestically. Chase Bank, the consumer banking arm of JPMorgan Chase, has more than 4,700 US branches, over 15,000 domestic ATMs and a slew of international banking branches. Chase Bank serves customers in more than 60 countries with offices in the Americas, Europe, North Africa and Asia.

2. Bank of America

Consolidated assets: $2.54 trillion

Bank of America, based in Charlotte, North Carolina, serves 69 million retail customers and small-business clients. The company has nearly 3,800 branches -- which it refers to as “retail financial centers” -- and 15,000 ATMs, according to its website. Its digital banking app serves 57 million verified users. In 2022, Bank of America announced it had eliminated the nonsufficient funds fee -- the fee charged when a bank returns a payment due to insufficient funds in an account -- and reduced its overdraft fee to $10.

3. Wells Fargo

Consolidated assets: $1.73 trillion

Wells Fargo returned to the third spot on the Fed’s list as of December 2023. It’s had a few rocky years dealing with criminal and civil lawsuits involving fraudulent sales practices and recent investigations into fake hiring practices. However, Wells Fargo remains a banking giant in the US, headquartered in San Francisco with more than 4,400 retail banking locations and more than 12,000 ATMs.

4. Citibank

Consolidated assets: $1.68 trillion

Citibank is the retail banking arm of global financial services giant Citigroup. New York-based Citibank serves some 200 million customer accounts in 160 countries. Citibank customers have access to nearly 700 branch locations and more than 65,000 surcharge-free ATMs.

5. U.S. Bank

Consolidated assets: $650.7 billion

Coming in fifth with $650.7 billion in consolidated assets, the Minneapolis-based U.S. Bank launched the nation’s first Spanish-language voice assistant banking app in 2022. U.S. Bank has more than 2,000 bank branches across 26 states. Its banking app allows you to share your location while traveling to avoid banking service interruptions while away from home.

6. PNC Bank

Consolidated assets: $557.5 billion

The result of the largest bank merger of its time, the Pittsburgh National and Provident National banks took their shared initials and formed PNC Bank in 1983. Since then, this Pittsburgh-based bank has focused its operation in the Midwest, Northeast and South. In November 2020, PNC agreed to pay $11.6 billion to acquire BBVA USA, a regional bank operating mainly in Southern and Western states. PNC Bank has more than 2,300 branches across the US.

7. Truist Bank

Consolidated assets: $527.5 billion

Truist Bank, formed by a merger between BB&T and SunTrust Bank in 2019, operates in 17 states across the Southeastern US and the District of Columbia. Charlotte, North Carolina-based Truist has more than 2,000 bank branches and offers customers access to more than 3,000 ATMs. In 2022, Truist launched Truist One Banking accounts, which provide eligible customers access to traditional banking services without overdraft fees.

8. Goldman Sachs Bank

Consolidated assets: $521.1 billion

Since the 2008 financial crisis, this venerable New York-based multinational investment bank and financial services firm has been rebuilding its brand and has reported $521.1 billion in consolidated assets. Marcus by Goldman Sachs, its consumer banking arm that launched in 2016, offers competitive rates on savings and certificates of deposit accounts but doesn’t offer checking or money market accounts.

9. Capital One Bank

Consolidated assets: $475.6 billion

Capital One Bank is headquartered in McClean, Virginia, and has 278 branches across six states and the District of Columbia. The majority are located in Louisiana, Maryland, Texas, New York and Virginia. Capital One Bank may have fewer traditional branches than most other members of this list, but it has a massive network of 70,000 ATMs, a mobile banking app, Capital One Cafes in select cities and competitive rates on savings and CD accounts. The first of the Capital One Lounges opened at the Dallas-Fort Worth airport in 2023.

10. TD Bank

Consolidated assets: $367.2 billion

Casting itself as “America’s Most Convenient Bank,” TD Bank, the US-based arm of the Canadian bank TD Bank Group, lands firmly on the list of the largest US banks at No. 10. TD Bank has more than 1,100 branches located along the East Coast from Maine to Florida -- and most of them are open seven days a week (plus some holidays). You can also access nearly 2,600 ATMs through the TD Bank network.

Smart Money Advice on the Topics That Matter to You

CNET Money brings financial insights, trends and news to your inbox every Wednesday.

By signing up, you will receive newsletters and promotional content and agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.

Your new Subscription

Here’s all of the excitement headed to your inbox.

11. Bank of New York Mellon

Consolidated assets: $332.5 billion

Commonly referred to as BNY Mellon, this New York-based investment banking services firm was formed when Mellon Financial Corporation merged with the Bank of New York in 2007. As a global institution, BNY Mellon operates in 35 countries around the world and primarily focuses on investment services for institutions and high-net-worth clients. It’s one of the three oldest banks in the US and counts Alexander Hamilton, Thomas Jefferson and Benjamin Franklin among its founding shareholders.

12. State Street Bank and Trust Company

Consolidated assets: $293.2 billion

State Street Bank and Trust Company is a Massachusetts-based investment firm that operates in more than 100 markets globally. With a primary focus on investment management, investment research and trading, this bank hasn’t offered retail banking services or commercial lending since 1999. However, in 2023, the bank opened a new 500,000-square-foot headquarters in Boston to mark its 230-year history of operations there.

13. BMO

Consolidated assets: $263.3 billion

Formerly known as BMO Harris, the US subsidiary of the multinational Bank of Montreal shortened its name to BMO in the fall of 2022. After completing the acquisition of Bank of the West in 2023, BMO expanded its US presence and operates more than 1,000 branches across eight states. It also launched BMO Alto -- an online-only banking service offering high-yield savings and certificate of deposit accounts -- in April 2023.

14. Citizens Bank

Consolidated assets: $221.8 billion

Citizens Bank is a full-service bank that primarily provides retail banking and commercial products for consumers and small businesses in the New England, Mid-Atlantic and Midwest regions of the US. In addition to operating nearly 1,100 branches in 14 states, Citizens Bank has an online-only division, Citizens Access, which has offered services since 2018. To expand its geographic footprint, Citizens Bank acquired Investors Bancorp and HSBC’s East Coast branches and national online deposit business in 2022.

15. Fifth Third Bank

Consolidated assets: $213.8 billion

Cincinnati-based Fifth Third Bank is a regional mainstay that offers personal, business and commercial banking services with physical locations in 11 Midwestern and Southern states. It also offers wealth and asset management services to customers. This 165-year-old banking institution offers customers more than 1,000 full-service branches and access to a network of 40,000 fee-free ATMs. If you’re ever in Cincinnati with a few hours to spare, the Fifth Third Museum highlights the bank’s extensive history and is free and open to the public Monday through Friday.

The 15 Biggest Banks in the US (2024)

FAQs

What are the 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 U.S. Bank is in all 50 states? ›

What bank operates in all 50 states? No bank currently operates a branch location in all 50 states, though several of the nation's largest institutions come close.

Which is the No. 1 bank of the USA? ›

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. With generous bonuses and promotions and a variety of products, Chase is a popular choice for consumers across the country.

What are the top 5 big banks? ›

Key Takeaways. The largest five banks by market capitalization are JP Morgan & Chase, Bank of America, Industrial and Commercial Bank of China, Wells Fargo, and China Construction Bank.

Who are the 5 largest banks in the US? ›

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 is the most financially stable bank in America? ›

JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.

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 only state owned bank in the United States? ›

North Dakota is the only state that has established a publicly owned bank. Founded in 1919, the Bank of North Dakota's mission is to “promote agriculture, commerce, and industry” and “be helpful to and assist in the development of…

Who owns Chase Bank? ›

Today, JPMorgan Chase remains a publicly traded company, which means it's owned by its shareholders. It trades on the New York Stock Exchange under the ticker "JPM." Since it's publicly traded, anyone with a brokerage account can invest in the stock and become part owner of JPMorgan Chase.

What is the 5th largest commercial bank in the US? ›

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 banks are Tier 2? ›

Tier two would be Goldman Sachs, Barclays Capital, Credit Suisse, Deutsche Bank, and Citigroup. Examples of tier three would be UBS, BNP Paribas, and SocGen. Being a bulge bracket bank does not necessarily mean it is rock solid.

Top Articles
Latest Posts
Article information

Author: Golda Nolan II

Last Updated:

Views: 5900

Rating: 4.8 / 5 (58 voted)

Reviews: 89% of readers found this page helpful

Author information

Name: Golda Nolan II

Birthday: 1998-05-14

Address: Suite 369 9754 Roberts Pines, West Benitaburgh, NM 69180-7958

Phone: +522993866487

Job: Sales Executive

Hobby: Worldbuilding, Shopping, Quilting, Cooking, Homebrewing, Leather crafting, Pet

Introduction: My name is Golda Nolan II, I am a thoughtful, clever, cute, jolly, brave, powerful, splendid person who loves writing and wants to share my knowledge and understanding with you.