America is home to some of the largest banks in the world. While the absolute biggest banks in the world are in China, the US has plenty of big banks.
This article will cover how a bank’s size is measured, list the biggest banks in America, and give a quick look at what they each offer.
We’ve put together this list by looking at the total assets of American banks as compiled by the FDIC (Federal Deposit Insurance Corporation). We used their latest report, which was updated in September of 2022.
25 Biggest Banks in the U.S.
Below is a summary of the 25 largest banks in America. Click on any of the bank names to learn more about that institution:
| Bank | Headquarters | Total Assets | Total Deposits | ||
|---|---|---|---|---|---|
| 1. |  |
JPMorgan Chase | New York City, NY | $3.309 Trillion | $2.502 Trillion |
| 2. |  |
Bank of America | Charlotte, NC | $2.408 Trillion | $2.034 Trillion |
| 3. |  |
CitiGroup | New York City, NY | $1.714 Trillion | $1.335 Trillion |
| 4. |  |
Wells Fargo | San Francisco, CA | $1.712 Trillion | $1.434 Trillion |
| 5. |  |
U.S. Bancorp | Minneapolis, MN | $591.21 Billion | $484.19 Billion |
| 6. |  |
PNC Financial Services | Pittsburgh, PA | $553.40 Billion | $444.00 Billion |
| 7. |  |
Truist Financial | Charlotte, NC | $534.19 Billion | $426.98 Billion |
| 8. |  |
Goldman Sachs | New York City, NY | $513.91 Billion | $360.83 Billion |
| 9. |  |
TD Group | Wilmington, DE | $394.33 Billion | $347.49 Billion |
| 10. |  |
Capital One | McLean, VA | $391.81 Billion | $322.06 Billion |
| 11. |  |
Charles Schwab | San Francisco, CA | $360.79 Billion | $349.51 Billion |
| 12. |  |
Bank of New York Mellon | New York City, NY | $344.65 Billion | $302.34 Billion |
| 13. |  |
State Street Corporation | Boston, MA | $300.01 Billion | $243.89 Billion |
| 14. |  |
Citizens Financial | Providence, RI | $224.48 Billion | $180.87 Billion |
| 15. |  |
Silicon Valley Bank | Santa Clara, CA | $210.24 Billion | $178.88 Billion |
| 16. |  |
First Republic Bank | San Francisco, CA | $205.11 Billion | $172.38 Billion |
| 17. |  |
Fifth Third Bank | Cincinnati, OH | $204.29 Billion | $167.84 Billion |
| 18. |  |
Morgan Stanley | New York City, NY | $194.94 Billion | $177.17 Billion |
| 19. |  |
KeyBank | Cleveland, OH | $187.72 Billion | $148.48 Billion |
| 20. |  |
Huntington Bank | Columbus, OH | $179.43 Billion | $150.52 Billion |
| 21. |  |
Ally Financial | Detroit, MI | $178.72 Billion | $148.08 Billion |
| 22. |  |
HSBC | New York City, NY | $166.77 Billion | $136.45 Billion |
| 23. |  |
BMO Harris Bank | Chicago, IL | $164.82 Billion | $136.30 Billion |
| 24. |  |
Northern Trust | Chicago, IL | $159.36 Billion | $129.44 Billion |
| 25. |  |
Regions Bank | Birmingham, AL | $156.81 Billion | $136.95 Billion |
The Big Four
The Big Four is a term used worldwide to refer to the biggest banks in the country according to recent banking statistics. Some countries have fewer such banks and may only include two or three. In this case, they refer to them as The Big Two or The Big Three.
The largest four banks that form The Big Four in America are as follows:
1. JPMorgan Chase & Co. 
- Total Assets: $3.309 Trillion
- Total Deposits: $2.502 Trillion
- Headquarters: New York City, New York
JP Morgan Chase is the biggest bank in America by assets under management. It’s an investment bank in its own right and a holding company for several subsidiaries, including Chase Bank (the consumer bank arm).
Chase has more than 4,700 branches in the U.S. and another 33 around the world.
If you’re shopping for a big brand bank, Chase is one of our top picks. Plus, they are constantly trying to attract new customers with sign-up bonuses and promotional offers.
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2. Bank of America Corp. 
- Total Assets: $2.408 Trillion
- Total Deposits: $2.034 Trillion
- Headquarters: Charlotte, North Carolina
Bank of America is an American multinational bank (and a national bank in the US) with several divisions that include Merill, Bank of America Securities, and Bank of America Private Bank.
The retail banking division is its largest, offering a wide range of products and services from its 4,400+ retail locations and more than 17,000 ATMs.
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3. CitiGroup Inc. 
- Total Assets: $1.714 Trillion
- Total Deposits: $1.335 Trillion
- Headquarters: New York City, New York
CitiGroup, also known as Citi for short, is an investment bank and financial services company. It owns Citicorp, which is a holding company that owns Citibank.
Citibank is the consumer division of the group. It has 960 branches here in the USA, and another 150+ worldwide. Their U.S. branches are primarily located in Florida, California, New York, and Washington DC.
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4. Wells Fargo & Co 
- Total Assets: $1.712 Trillion
- Total Deposits: $1.434 Trillion
- Headquarters: San Francisco, California
Wells Fargo and Company was initially founded in 1929 by Henry Wells and William Fargo, hence the name.
The bank, unfortunately, has been the center of many controversies in recent years.
Plus, where they were once the leader in terms of physical branches, they’ve been closing doors – hundreds each year, in fact.
Despite that, Wells Fargo still has a comprehensive breadth of products and services, offering everything from bank accounts, credit cards, loans, retirement planning, and wealth management services.
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Other Big Banks In The US
Aside from the big four banks, there are other big banks in the US. The banks that make up the so-called big four can change as banks increase the assets they manage or shed some of them.
Since assets measure the bank size, their relative size changes – practically every day as money is withdrawn and deposited; however, it is reported yearly.
5. US Bancorp
- Total Assets: $591.21 Billion
- Total Deposits: $484.19 Billion
- Headquarters: Minneapolis, Minnesota
Bancorp is the parent company of US Bank, with locations mostly centered around the midwest. The bank has just over 3,000 branches and just shy of 5,000 ATMs, offering personal and business banking.
US Bank also offers wealth management, corporate and commercial banking, as well as institutional banking.
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6. PNC Financial Services Group
- Total Assets: $553.40 Billion
- Total Deposits: $444.00 Billion
- Headquarters: Pittsburgh, Pennsylvania
PNC Financial Services is the holding company of PNC Bank, which has 2,300 branches in 21 states.
What’s more, in June 2021, PNC closed on a $11.5B acquisition of BBVA, extending its reach and total assets even further.
PNC also operates over 18,000 ATMs, making it the 4th largest bank by number of ATMs.
Interestingly, the name came about when two banks merged, both of which had names that could be abbreviated as PNC – Pittsburgh National Corporation and Provident National Corporation.
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7. Truist Financial Corporation
- Total Assets: $534.19 Billion
- Total Deposits: $426.98 Billion
- Headquarters: Charlotte, North Carolina
Truist is a relatively new bank, having formed in December of 2019 when BB&T and Suntrust merged. The merger is not 100% complete yet, so you cannot get a Truist bank account.
BB&T and Suntrust accounts will automatically convert to Truist accounts once all of the processes are complete.
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8. Goldman Sachs Group, Inc.
- Total Assets: $513.91 Billion
- Total Deposits: $360.83 Billion
- Headquarters: New York City, New York
Goldman Sachs is one of the world’s biggest investment banks and is considered a market maker.
In 2016, Goldman Sachs introduced Marcus by Goldman Sachs, which offers several consumer financial products and services, including savings accounts, credit cards, certificates of deposit, and loans.
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9. TD Group US Holdings
- Total Assets: $394.33 Billion
- Total Deposits: $347.49 Billion
- Headquarters: Wilmington, Delaware
TD Group US Holdings is a subsidiary of Toronto-Dominion Bank – a Canadian multinational bank. In the US, their consumer division is represented through TD Bank.
The bank’s 1220 locations are mainly spread throughout the East Coast and offer consumers a wide variety of accounts and other products and services.
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10. Capital One Financial
- Total Assets: $391.81 Billion
- Total Deposits: $322.06 Billion
- Headquarters: McLean, Virginia
Capital One Financial is a holding company with its consumer bank division represented by Capital One. Because of its tech advancements, Capital One is considered one of the most technology-focused banks in the US.
The bank has 775 branches, having closed a number of them recently. Aside from this, it maintains 2,00 ATMs and 30 cafe-styled locations.
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11. Charles Schwab Corporation
- Total Assets: $360.79 Billion
- Total Deposits: $349.51 Billion
- Headquarters: San Francisco, California
Charles Schwab is a multinational financial services firm with more than 360 branches. The bank is mostly focused on investment accounts, including brokerage accounts and retirement accounts (IRAs). It also offers a high-yield checking account.
However, this must be linked to an existing brokerage account, making it much easier to fund investments.
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12. Bank of New York Mellon
- Total Assets: $344.65 Billion
- Total Deposits: $302.34 Billion
- Headquarters: New York City, New York
Bank of New York Mellon, abbreviated as BNY Mellon, results from a merger between Mellon Financial Corporation and The Bank of New York.
The bank mainly offers investment banking services, and its customers include asset managers, banks, insurance companies, and corporations, among others.
13. State Street Corporation
- Total Assets: $300.01 Billion
- Total Deposits: $243.89 Billion
- Headquarters: Boston, Massachusetts
State Street Corporation is a holding company and financial services firm offering services to asset managers and owners, insurance companies, and official institutions.
The bank was founded in 1792, which makes it the second oldest bank in the country.
14. Citizens Financial Group
- Total Assets: $224.48 Billion
- Total Deposits: $180.87 Billion
- Headquarters: Providence, Rhode Island
Citizens Financial Group, Inc. owns Citizens Bank, the retail banking you’re likely more familiar with.
The firm has been around since 1828 and offers deposit accounts, credit cards, personal loans, student loans, refinancing, and other financial services.
The financial institution operates mainly in the Northeast and Midwest, with physical branches in each of the New England states (except for Maine), plus Delaware, Michigan, Ohio, Pennsylvania, New York, and New Jersey.
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15. Silicon Valley Bank
- Total Assets: $210.24 Billion
- Total Deposits: $178.88 Billion
- Headquarters: Santa Clara, California
Silicon Valley Bank is a full-service commercial bank that specializes in serving the unique needs of technology and life science companies.
In addition to providing traditional banking services, they also offer venture capital, foreign exchange, and treasury management services. Silicon Valley Bank has a long history of supporting innovation, and were involved in the early beginnings of many big-name tech companies, including Apple, Google, and Facebook. In fact, Silicon Valley Bank is often credited with helping to create Silicon Valley itself.
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16. First Republic Bank
- Total Assets: $205.11 Billion
- Total Deposits: $172.38 Billion
- Headquarters: San Francisco, California
First Republic Bank is a leading private bank with over 80 branches across the country. The bank offers a full range of banking products and services, including checking and savings accounts, loans, and investment management.
First Republic also provides unique benefits for its clients, such as concierge banking and preferred access to concerts and events.
In addition, the bank is known for its extensive philanthropic efforts, which include support for arts and education programs.
17. Fifth Third Bank
- Total Assets: $204.29 Billion
- Total Deposits: $167.84 Billion
- Headquarters: Cincinnati, Ohio
Fifth Third Bank is the Cincinnati, Ohio-based subsidiary of Fifth Third Bancorp, a bank holding company. Founded in 1909, Fifth Third is now one of the largest banks in the Midwest.
In 2019, Fifth Third obtained a national bank charter, but it still exists primarily as a regional bank with a strong presence in 10 states.
The bank offers deposit accounts, credit cards, personal, home and auto loans, and more.
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18. Morgan Stanley
- Total Assets: $194.94 Billion
- Total Deposits: $177.17 Billion
- Headquarters: New York City, New York
Morgan Stanley has three divisions, which the bank calls business segments.
These include institutional securities with clients that include corporations and governments, wealth management, targeting individuals and SMEs, and investment management, aimed towards institutions and individuals.
19. KeyBank
- Total Assets: $187.72 Billion
- Total Deposits: $148.48 Billion
- Headquarters: Cleveland, Ohio
KeyBank is a community bank that operates in 15 different states, has over 40,000 ATMs in its network and 1,000 full-service branches.
They offer no-frill deposit and loan products, and are best known for their emphasis on investing in diversity and local, under-served communities.
They’re a 7x Civic 50 award winner, along with a long list of diversity-focused awards: Best Places to Work for LGBTQ, Leading Disability Employer, Bloomberg’s Gender-Equality Index, Military-Friendly Employer, and more.
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20. Huntington National Bank
- Total Assets: $179.43 Billion
- Total Deposits: $150.52 Billion
- Headquarters: Columbus, Ohio
Huntington National Bank, better known as just Huntington Bank, is a regional bank based out of Ohio.
They’ve been around for more than 150 years and currently have nearly 900 physical branches throughout 6 states in the midwest: Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia.
Huntington offers a wide range of personal, business and commercial financial products, which are no-frill and generally low (or have easily avoided) fees.
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21. Ally Financial
- Total Assets: $178.72 Billion
- Total Deposits: $148.08 Billion
- Headquarters: Detroit, Michigan
Ally Financial is the parent company of well-known Ally Bank.
Originally called the General Motors Acceptance Corporation (GMAC), Ally was founded in the early 20th century by General Motors to provide financing to automotive customers.
Since its re-brand to Ally Bank in 2009, the bank has expanded to serve more than 8 million customers and remains one of the country’s biggest car finance companies.
It is most well known, however, in the online-only banking space, where Ally has built its name on high-interest rates, a low fee schedule, an investment platform, and personal loans.
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22. HSBC North America
- Total Assets: $166.77 Billion
- Total Deposits: $136.45 Billion
- Headquarters: New York, New York City
HSBC is a UK multinational bank, with operations in the US under HSBC Bank USA. They have been operating in the US since 1980, when HSBC acquired a controlling stake in Marine Midland Bank.
In February of 2021, reports emerged that HSBC planned on pulling out of the US after shedding some $100 billion of its total assets the previous year. They signed agreements with Citizens Bank and Cathay Bank to sell their East and West Coast operations, while still retaining a small network to focus on international and high net worth customers.
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23. BMO Harris Bank
- Total Assets: $164.82 Billion
- Total Deposits: $136.30 Billion
- Headquarters: Chicago, Illinois
BMO Harris Bank is the American subsidiary of the Bank of Montreal. Headquartered in Chicago, the bank’s roots go back to 1882.
It’s the 23rd largest financial institution in the United States, and has more than 12,000 employees, 500 physical branches, and 40,000 ATMs across the U.S.
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24. The Northern Trust Company
- Total Assets: $159.36 Billion
- Total Deposits: $129.44 Billion
- Headquarters: Chicago, Illinois
Northern Trust Corporation is a financial services company that caters to corporations, institutional investors, and ultra high net worth consumers.
It was founded in 1889, and has 54 branches in 20 states across the U.S, and another 5 offices internationally.
25. Regions Bank
- Total Assets: $156.81 Billion
- Total Deposits: $136.95 Billion
- Headquarters: Birmingham, Alabama
Regions Bank is the retail and commercial banking subsidiary of Regions Financial Corporation, a Birmingham, Alabama-based Fortune 500 institution.
Founded in 1971, Regions provides financial products and services throughout the South and is the largest holder of deposits in both Alabama and Tennessee.
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How Is Bank Size Measured?
There are many different ways to measure the size of a bank:
- number of customers
- number of branches
- number of employees
…these are all valid metrics. Still, none of these is how bank size is measured.
Total Assets Under Management
One agreed-upon metric to measure the size of a bank is by looking at their total assets under management – how much money the bank manages.
Using this metric, we can measure the actual size of the bank, irrespective of how many employees, branches, or ATMs it has.
This list gives us several bank holding companies – the companies that own the actual banks. In turn. The banks can include anything from commercial banks and retail banks to investment banks.
Investment banks are slightly different from the typical bank we turn to for opening our checking and savings accounts. For the most part, these large financial institutions offer services centered around complex asset management, with other banks and large institutions being their main customers.
High net worth individuals can also typically make use of the services offered by investment banks. For the bank, this means that the size of their total assets becomes much larger with fewer customers.
One other thing worth mentioning is that banks tend to be very complex institutions. Many decades-old banks have grown through countless mergers and acquisitions over time. This complex strategy of growth leads to several banks in America being subsidiaries of international banks.
Think of these subsidiaries as American branches of international banks, headquartered anywhere from Spain to Japan. Even so, these banks still have to abide by the rules set down by the federal reserve.
They also still offer their customers perks such as FDIC (Federal Deposit Insurance Corporation) insured accounts.
Largest Banks In The US FAQs
Which is the No. 1 bank in the world?
The biggest bank globally is the Industrial and Commercial Bank of China, with assets under management totaling some $4.324 Trillion.
What are the ten largest banks in the US?
The ten largest banks in the US, ranked by the total value of assets under management is as follows:
- JPMorgan Chase
- Bank of America
- Citigroup
- Wells Fargo
- U.S. Bancorp
- PNC
- Truist Bank
- Goldman Sachs
- Charles Schwab
- TD Group
Who are the big six banks?
The six biggest banks in the US, ranked by the total value of assets under management is as follows:
- JPMorgan Chase
- Bank of America
- Citigroup
- Wells Fargo
- U.S. Bancorp
- PNC
On the other hand, the six biggest banks in the world are:
- Industrial and Commercial Bank of China
- China Construction Bank
- Agricultural Bank of China
- Bank of China
- Mitsubishi UFJ Financial Group
- HSBC
Which is the Best Largest Bank in The US For You?
There is certainly no lack of options when it comes to your banking needs.
The above list is 20+ of the largest banks in the U.S., and doesn’t even consider other options like neobanks or credit unions.
When it comes to choosing your financial institution, however, we genuinely don’t think you should choose a bank based on size alone.
While it’s true that the larger banks often offer more products and services, have more branches to serve you, and are of course very unlikely to fail, total assets alone is simply a poor metric to use to choose your next bank.
Instead, the above datapoints are fun and interesting to monitor, but should be considered in combination with current rates, welcome bonuses, ethical business practices and values, tech features, fees, and other services that are important to you.
