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

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.

1JPMorgan Chase$3.40 trillion1
2Bank of America$2.54 trillion2
3Wells Fargo$1.73 trillion4
4Citigroup$1.68 trillion3
5U.S. Bancorp$650.7 billion5
6PNC Financial Services$557.5 billion6
7Truist Bank$527.5 billion8
8Goldman Sachs$521.1 billion7
9Capital One Financial$475.6 billion9
10TD Group US Holdings$367.2 billion10
11Bank of New York Mellon$332.5 billion11
12State Street$293.2 billion12
13BMO$265.7 billion13
14Citizens Financial$221.8 billion14
15First Citizens Bank$213.8 billion15
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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.

  • Assets: $3.40 trillion
  • Headquarters: New York

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.

PNC agreed to acquire BBVA USA for $11.6 billion in November 2020 and the deal closed June 1, 2021.

Read Bankrate’s review of PNC Bank.

  • Assets: $557.5 billion
  • Headquarters: Pittsburgh

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)


These Are The 15 Largest Banks In The U.S. | Bankrate? ›

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 is the 15th largest bank in the US? ›

The 15 Biggest Banks in the US
RankingBank NameAssets
12State Street Bank and Trust Co.$293.2 billion
13BMO$265.7 billion
14Citizens Bank$221.8 billion
15Fifth Third Bank$213.8 billion
11 more rows
Mar 16, 2024

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.

How many banks are in the US? ›

As of October 19, 2023, there were 4,049 commercial banks and 565 savings and loan associations in the U.S. insured by the Federal Deposit Insurance Corporation (FDIC) with US$23.4 trillion in assets. There are a few other banks not FDIC insured, e.g. Bank of North Dakota (state-owned bank).

What is the largest bank in the US by deposits? ›

Jpmorgan Chase Bank

What bank is 15? ›

New Zealand Bank Codes
Bank NameBank CodeBranch Range
TSB Bank151501 – 1599
Westpac Bank030301 – 0399
The Co-operative Bank111101 – 1199
SBS Bank030311 – 0315
9 more rows

What is the 16th bank in the United States? ›

What is Silicon Valley Bank? SVB was founded in 1983 and was the 16th largest U.S. bank before its collapse. They specialized in financing and banking for venture capital-backed startup companies -- mostly technology companies.

Who is the number 1 bank in America? ›

1. 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 is the richest bank in the USA? ›

The Bankrate promise
1JPMorgan Chase$3.40 trillion
2Bank of America$2.54 trillion
3Wells Fargo$1.73 trillion
4Citigroup$1.68 trillion
11 more rows
Apr 2, 2024

What bank is the richest? ›

By market capitalization
RankBank nameMarket cap (US$ billion)
1JPMorgan Chase491.76
2Bank of America266.45
3Industrial and Commercial Bank of China219.45
4Wells Fargo178.74
6 more rows

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.

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 bank has most branches in USA? ›

Chase has the largest branch network out of all the biggest banks, with locations in the most states.
  • ATMs: More than 15,000.
  • Branches: More than 4,700 in 49 states and Washington, D.C.; no branches in Alaska.
  • Learn more: Chase review.
Feb 9, 2024

What is the safest bank to bank with? ›

Summary: Safest Banks In The U.S. Of April 2024
BankForbes Advisor RatingLearn More
Chase Bank5.0Learn More Read Our Full Review
Bank of America4.2
Wells Fargo Bank4.0Learn More Read Our Full Review
1 more row
Jan 29, 2024

What bank has the largest branches? ›

State Bank of India (SBI)

With its headquarters in Mumbai, SBI is India's largest public sector bank. It has 22,405 branches in India, holds a 23 percent market share, and has a strong presence abroad, with more than 233 foreign branches in 36 countries.

Is it better to bank with Chase or Bank of America? ›

Bank of America pays slightly higher interest on your account balance. It also has a lower monthly fee and more options to have it waived. While the comparison between the two banks' checking accounts stacks up as a draw, the clear winner among savings accounts is Bank of America Advantage Savings.

What are the 50 largest banks in the US? ›

The Top 100 Banks
RankBank / Holding Co NameConsolidated Assets ($ Millions)
#1JP Morgan Chase Bank$3,267,963
#2Bank of America$2,518,290
#4Wells Fargo$1,687,507
96 more rows
Jun 26, 2023

Which is the No 1 bank of 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.

Which is the top No 1 bank in the world? ›

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.

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