As of the 30th of June in 2022, the assets held by the 15 largest banks in the United States (US) comprise a combined total of $13.5 trillion. This exclusive club sees new members join and leave on an annual basis. Larger banks acquire one another, whereas smaller banks fail to compete and are eventually displaced by more rapidly expanding competitors. Find largest bank in the US.
JPMorgan Chase
JPMorgan Chase operates its retail banking operations under the name Chase Bank. Chase is increasing the size of its branch network in many important areas, in contrast to several of its rivals, who are shutting branches. It has nearly 5,000 physical locations and 16,000 automated teller machines. According to Chase, its client base includes over half of the homes in the United States.
Bank of America
About 66 million individual customers and small business clients are represented across the globe by Bank of America. It provides strong digital capabilities, such as a multifunctional smartphone app, similar to many of the largest banks. Following a pattern across the industry, Bank of America recently announced that it would be abolishing its nonsufficient funds (NSF) cost and cutting its overdraft fee.
Citigroup
Citigroup is a multinational firm that provides a variety of financial services. Citibank's retail banking business has its headquarters in Sioux Falls, which is located in South Dakota. The United States is home to around 700 Citibank branches, while the bank maintains more than 1,800 locations in other countries. Customers in the United States have access to over 65,000 ATMs that do not charge a fee.
Wells Fargo
In the year 1852, Wells Fargo was established. Even though the bank has been working hard to close branches and streamline its operations, it still has more locations than any other financial institution in the nation. In addition to its primary app, Wells Fargo has also released a savings app and a mobile banking app aimed specifically at those in their twenties and thirties.
US Bancorp
The First National Bank of Cincinnati was the forerunner of the fifth-largest commercial bank in terms of assets. It was founded in the year 1863. The bank that is recognized today for its wide branch network and investment in expanding its digital products was formed as a result of many mergers that took place in the past.
PNC Financial Services
PNC is a regional bank that may be found in certain regions of the South, the Northeast, and the Midwest. It was formerly known as the Pittsburgh Trust and Savings Co., and in 2008, it purchased the struggling National City Corp., which was situated in Cleveland. The size of the bank almost doubled as a result of the deal. Currently, the bank operates over 2,300 different branches.
Truist Financial
The new bank that resulted from the combination of BB&T and SunTrust was given the name Truist. Truist serves over 10 million customer homes with its financial service offerings. As of the end of the third quarter of 2019, BB&T and SunTrust, previously rated the 11th and 12th largest banks by assets, respectively, have combined to become the sixth-largest bank.
Goldman Sachs
Goldman Sachs is a multinational corporation specializing in investment banking, management, and securities. Marcus, the company's online banking division, made its debut in the autumn of 2016 and started issuing personal loans. As a result, the company's customers have access to a wide range of financial services, including banking products.
TD Group US Holdings
TD Bank is the commercial banking division of Canada's TD Bank Group that operates in the United States. Customers can access various financial products, including mortgages, bank accounts, credit cards, and goods for commercial and small company customers.
Capital One Financial
Capital One Bank is a subsidiary of Fortune 500 parent business Capital One, including other subsidiary companies. In some areas, customers of Capital One Bank have access to Capital One Cafes, which are similar to coffee shops but also provide free Wi-Fi and financial seminars. These cafes are in addition to the bank's branches located in Texas and Louisiana and on the East Coast.
Bank of New York Mellon
The Bank of New York was the first corporation listed on the New York Stock Exchange once it began business in 1792. Today, the Bank of New York Mellon operates as an investment firm that caters not just to individuals but also to various institutions, businesses, and other types of investors.
State Street
State Street Corporation is a worldwide provider of financial services and asset management with around 40,000 people and a presence in more than 100 locations worldwide. The firm was established in 1792.
Citizens Financial
Citizens Bank has 1,172 locations in 14 states and the District of Columbia. Additionally, it has about 2,700 automated teller machines. The city of Providence in Rhode Island serves as the location of its headquarters.
Silicon Valley Bank
The year 1983 marks the beginning of Silicon Valley Bank's operations. It increased by around $27 billion between the 30th of June 2021 and the 30th of September 2021, moving up seven positions from number 22.
Fifth Third Bancorp
Fifth Third Bank NA has Fifth Third Bancorp as its parent corporation rather than a direct parent.
