The 15 largest banks in the United States have a combined total of approximately $12.9 trillion in assets as of 202411
There are changes in this exclusive club of top banks in America from time to time. Bigger banks trade with each other and smaller banks move out, replaced by faster-growing rivals. Mergers and acquisitions may also play a role in this.
Or bank failure could lead to a consolidation of the largest banks in the US, such as on May 1 when JPMorgan Chase took over all of the deposits and almost all of the assets of First Republic Bank. First Republic was the 14th largest bank by consolidated assets as of March 31, 2023.
First Republic was the second largest bank failure in 2008, behind Washington Mutual, which was also acquired by JPMorgan Chase. But, Silicon Valley Bank was the second largest bank to fail in US history and the first to fail after October 2020. It was the 16th largest US bank by consolidated assets as of December 31, 2022. Right off the list. Earlier in 2022, it was on the list as the 14th largest bank as of September 30, 2022.
Here are the largest banks in the US by consolidated assets, according to the latest data from the Federal Reserve.
| RANK | BANK NAME | TOTAL ASSETS | PREVIOUS RANK |
|---|---|---|---|
| 1 | JPMorgan Chase | $3.39 trillion | 1 |
| 2 | Bank of America | $2.47 trillion | 2 |
| 3 | Wells Fargo | $1.70 trillion | 4 |
| 4 | Citigroup | $1.66 trillion | 3 |
| 5 | U.S. 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 US 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 | Citizens Financial | $225 billion | 14 |
| 15 | First Citizens Bank | $213.6 billion | 15 |
JPMorgan Chase
Chase Bank is the consumer banking division of JPMorgan Chase. It currently has over 4,700 branches and over 16,000 ATMs.
Chase branches across the continental U.S. There are in all 48 states and the U.S. It has more branches than any other bank in the U.S.
- Wealth: $3.39 trillion
- Headquarters: New York
Bank of America
Bank of America serves approximately 68 million consumer and small business customers worldwide. Like many big banks, it offers robust digital tools that include a versatile mobile app. Beginning in 2022, following the industry trend, Bank of America eliminated its non-sufficient funds (NSF) fee and reduced its overdraft fee.
- Wealth: $2.47 trillion
- Headquarters: Charlotte, North Carolina
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 for the millennial generation. The bank has rebranded and is focusing on repairing its broken relationship with customers after a series of missteps.
- Wealth: $1.70 trillion
- Headquarters: San Francisco
city group
Citigroup is a global financial services corporation. Its retail banking division has approximately 673 locations in the US and more than 1,800 branches outside the country. US customers also have access to more than 65,000 fee-free ATMs.
- Wealth: $1.66 trillion
- Headquarters: New York
U.S. Bancorp
U.S. Bancorp US The bank is the bank holding company and parent company of the bank. What we know as the fifth-largest commercial bank by assets began in 1863 as the First National Bank of Cincinnati. Several mergers led to the formation of the bank that is known today for its extensive branch network and investments in improving its digital offerings.
U.S. The bank has branches in more than half of the 50 states.
- Wealth: $657.2 billion
- Headquarters: Minneapolis
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