The 15 largest american banks in the United States (U.S.) hold a combined total of $13.4 trillion in assets as of Sept. 30, 2022. Every so often there are changes to this exclusive club. Larger american banks trade places with one another and smaller american banks drop out, replaced by faster-growing rivals. Mergers and acquisitions also might play a part in this. Here are the biggest american banks in the U.S. by consolidated assets, according to the latest numbers from the Federal Reserve. Putting your money in one of the largest american banks generally means you’ll have more access to in-person services at branches, a large ATM network, and a wide array of products and services, which can be convenient if you’re looking to do all of your american banks in one place. To find the largest american banks in the U.S., we looked at domestic asset sizes of institutions that serve both consumers and small businesses. The list includes retail american banks for personal banking, rather than investment american banks. An american banks assets include, among other things, the number of its loans, mortgages, and credit card accounts. Some american banks have thousands of branches, while others are mostly — or exclusively — online. All of these american banks are insured by the Federal Deposit Insurance Corp.
Based on asset size, here are the top 15 largest american banks in the U.S. according to the Federal Reserve.
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JPMorgan Chase :
Chase american banks are the popular american banks division of JPMorgan Chase. This is one of the major banks in America. Unlike some of its competitors that are closing branches, Chase is expanding its branch network in key markets. American banks currently have nearly 5,000 branches and 16,000 ATMs. Nearly half of the country’s households are Chase customers, according to Chase.
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Bank of America :
Bank of America serves about 67 million consumers and small business clients worldwide. Like many of the biggest american banks, it offers robust digital tools that include a versatile mobile app. American banks recently said it was eliminating their non-sufficient funds (NSF) fee and reducing their overdraft fee, following an industry trend.
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Citigroup :
Citigroup is a global financial services corporation. Its retail american banks division, Citibank, is based in Sioux Falls, South Dakota. Citibank has about 700 branches 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.
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Wells Fargo :
Wells Fargo was founded in 1852. Although american banks have focused on consolidating and eliminating branches, it still has the most branches of any american banks in the country. In addition to its main app, Wells Fargo has introduced a savings app and a mobile banking app geared toward millennials. The american banks have rebranded and are focusing on repairing their fractured relationship with customers after a series of missteps.
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U.S. Bancorp :
U.S. Bancorp is the american banks 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.
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PNC Financial Services :
PNC was founded as Pittsburgh Trust and Savings Co. in 1852. That transaction roughly doubled the american banks size. Today, the bank has nearly 2,600 branches in 28 states and Washington, D.C. PNC agreed to acquire BBVA USA for $11.6 billion in November 2020 and the deal closed on June 1.
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Truist Financial :
Truist is the american banks formed by the merger of equals BB&T and SunTrust. Truist provides financial services to about 10 million consumer households. BB&T and SunTrust, which were ranked the 11th and 12th largest american banks by assets, respectively, as of Sept. 30, 2019, now form the sixth-largest bank.
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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 the fall of 2016 and began offering personal loans.
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TD Group US Holdings :
TD american banks is one of the top 10 american banks in the USA and are 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 about 1,300 branches along the East Coast.
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Capital One Financial :
Capital One american banks in the USA is a Fortune 500 company with subsidiaries that include Capital One Bank. In addition to branches on the East Coast and in Texas and Louisiana, american banks customers in select cities have access to Capital One Cafes and coffee shops with free Wi-Fi where visitors can open accounts and attend financial workshops.
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Bank of New York Mellon :
When New York’s largest us bank, Stock Exchange opened in 1792, the Bank of New York was the first company to trade. Today, the 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 wealthy clients.
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State Street :
Founded in 1792, State Street is one of the lists of our banks. 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, among others.
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Citizens Financial :
Citizens have over 1,000 branches in 12 states and Washington, D.C. Customers also have access to more than 3,000 ATMs. It is headquartered in Providence, Rhode Island.
In February 2022, Citizens Financial closed the deal to acquire HSBC branches. The acquisition included HSBC online accounts.
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Silicon Valley Bank :
Silicon Valley Bank has been around since 1983. Silicon Valley Bank closed the deal to acquire Boston Private in 2021. Silicon Valley Bank has business checking accounts and lending products for businesses. Assets: $210.24 billion
Headquarters: Santa Clara, California
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First Republic Bank :
First Republic has around 88 locations in the U.S. American banks are known for their wealth management services.
Conclusion :
Capital One also acquired fintech United Income in 2019, a digital platform that offers wealth management services for people transitioning into retirement. This combination allows the firm to offer technological capabilities with human facets. For example, providing access to a team of wealth managers, makes Capital One appealing to consumers who still desire human interaction.
