Top 14 Largest Banks in USA by Asset (2024)

largest banks in USA
largest banks in USA

The Federal Reserve of the United States has released the list of the top banks in the U.S. by assets and in this article, we’ve compiled a list of these largest banks in the USA by asset and how they manage to stay ahead of others.

Guess what? Our top four banks account for 50% of the whole U.S. banking assets, isn’t that pretty amazing?

Below is the list of the top 15 largest banks in the United States by assets.

1. JP Morgan Chase

largest banks in usa

By introducing artificial intelligence and targeting digitally astute customers, JP Morgan chase has been able to outsource its competitors.

JP Morgan Chase is a consumer bank that’s always taking steps to expand its branch network in the market. The bank currently has over 5,000 branches and 16,000 ATMs.

The bank claims that 50% of the country’s households bank with them. JP Morgan Chase is headquartered in New York and has estimated assets of $2.87 trillion and a deposit of about $2.105 trillion.

2. Wells Fargo and Co.

largest banks in usa

Founded in 1852, Wells Fargo and Co. has remained the number one bank with the highest number of branches in the U.S. despite its focus on consolidating and eliminating branches.

Wells Fargo is also digitally innovative as they’ve introduced a savings app and a mobile banking app aside from their main app.

The bank is currently rebranding and rebuilding its relationship with its customers after a few ups and downs.

Wells Fargo is headquartered in San Francisco and currently has estimated assets of $1.75 trillion and a total deposit of $1.47 trillion.

3. Bank of America Corporation

largest banks in usa

This bank serves millions of consumers and small business owners worldwide. Known for its digital innovation, the Bank of America has over 37 million digital customers and has experienced huge success after introducing Erica, a virtual digital assistant that assists digital clients with different tasks.

Bank of America corps is headquartered in Charlotte, North Carolina, and has an estimated total asset of $2.16 billion and a total deposit of $1.81 trillion.

4. Citigroup Inc.

largest banks in usa

Citigroup is a worldwide financial service corporation and one of the largest banks in the United States. The bank has about 700 branches in the U.S. alone and more than 1,800 branches in other countries.  The bank has about 65,000 fee-free ATMs in the U.S.

For four years in a row, this bank has been named the “Best Bank for High-Net-Worth Families” by Kiplinger’s Personal Finance.

If you’re a customer that maintains $200,000 in deposit, retirement, and investment accounts, this bank will grant you access to its Citigold package.

The bank reported estimated assets of $1.65 trillion and a total deposit of $1.27 trillion. It is headquartered in New York.

5. Truist Financial Corporation

Truist Financial Corporation
Truist Financial Corporation

The merger of BB&T and Sun trust banks give rise to Truist Financial Corporation, the sixth-largest bank in the U.S.A. that provides financial services to more than 10 million customers.

There’re over 2,000 Truist branches in 15 states and Washington D.C. that offers consumer and commercial banking, asset management, mortgage, securities brokerage, and insurance products and services.

The bank has estimated assets of $488.02 billion and a total deposit of $385.45 billion. It is headquartered in Charlotte, North Carolina.

6. Goldman Sachs Group Inc

largest banks in usa

Goldman Sachs Group operates as an investment banking, investment management worldwide, and securities through four segments: Institutional client services, investment banking, lending, and investing, and investment management.

With about 340,000 staff, the bank has an estimated asset of $894 billion and a net profit of about $7.40 billion.

7. U.S. Bankcorp

U.s. Bancorp
U.s. Bankcorp

This is the bank holding company and parent company of U.S. Bank. It was founded in 1863 as the First National Bank of Cincinnati and today, one of the largest commercial banks by assets in the United States.

It is headquartered in Minneapolis and has estimated assets of $530.50 billion and total deposits of $426.77 billion.

7. PNC Financial Services

Pnc Financial Services
Pnc Financial Services

PNC Bank is a top bank in the United States that provides specialized services to customers while developing original products.

The company began offering mobile payment options to customers who have Visa commercial cards in 2017, allowing them to influence popular mobile wallets like Apple Pay.

In the hope of combating fraud, PNC comes with the idea of credit cards with verification numbers that refresh periodically.

Fraudsters can assume three-digit CVVs due to the limited number of permutations, but changing CVVs relatively makes stolen data less useful.

The bank has about 49,000 staff and an estimated asset of $457.45 billion and a net profit of about $3.9 billion.

Headquartered in Pittsburgh, Pennsylvania, and has assets of $445 billion.

8. TD Bank

Td Bank
Td Bank

This is one of the largest banks in the United States, with an extensive influence abroad. The bank has great integration of artificial intelligence and digital technology utilization.

TD become more reputable after launching Clari, an Al-powered chatbot in Canada, which answers customers’ questions via SMS and informs them how much they spent in a store or when credit payments are due.

The bank also partnered with Fintech provider amount to leverage its digital lending technology, this technology comes with tools that detect fraud and verify accounts.

It is headquartered in Cherry Hill, New Jersey, and has estimated assets of $447 billion.

9. Capital One

Capital One
Capital One

This bank is among one of the largest and most reputable banks in the United States due to its commitment to digital transformation.

The bank increases the number of its digital staff from 2,500 in 2011 to 9,000 in 2019. They have also launched Eno, an Al-powered Chatbot similar to TD’s Clari and America’s Erica.

It is headquartered in McLean, Virginia, and has estimated assets of $360.26 billion.

10. Bank of New York Mellon Corp

Bank Of New York Mellon Corp
Bank Of New York Mellon Corp

This is an investment banking services holding company and one of the oldest banking corporations in the U.S.

It was formed from the 2007 merger of the Bank of New York and the Mellon Financial Corporation.

Bank of New York Mellon offers corporate and individual investment services and private banking services for wealthy clients.

Headquartered in New York City, New York, and has estimated assets of $349.43 billion.

11. State Street Corporation

State Street Corporation
State Street Corporation

State Street Corporation opened its doors in 1792 and is a financial services and asset management company with about 40,000 employees.

This bank provides services like investment research and trading & investment management.

It is headquartered in Boston, Massachusetts, and has estimated assets of $359 billion.

12. HSBC North America Holdings Inc.

Hsbc North America Holdings Inc
Hsbc North America Holdings Inc

This is the holding company for HSBC Holdings in the United States with branches in cities like Los Angeles, New York, Atlanta, Chicago, Miami, Houston, San Francisco, Seattle, and Washington D.C.

It is headquartered in New York City, New York, and has estimated assets of $297 billion.

13. Fifth Third Bank

Fifth Third Bank
Fifth Third Bank

Fifth Third Bank is headquartered in Cincinnati, Ohio and it is the principal subsidiary of Fifth Third Bancorp.

It is one of the largest consumer banks in the Midwestern United States operating in 1,154 branches and has 2,469 ATMs in Kentucky, Ohio, Michigan, Indiana, Florida, Illinois, West Virginia, Tennessee, North Carolina, and Georgia.

Total Assets: $185 billion.

14.  Citizens Financial Group

Citizens Financial Group
Citizens Financial Group

Citizens Financial Group was founded in 1828 and headquartered in Providence, Rhode Island.

The bank operates more than 1,008 branches and 3,000+ ATMs across 12 states including Connecticut, Maine, Delaware, Michigan, Massachusetts, New York, New Hampshire, New Jersey, South Carolina, Ohio, Pennsylvania, and Vermont.

Total Assets: $176 billion.

Conclusion

There you have it, the list of the top 14 largest banks in the USA by assets. We hope the list provides some essential information you need to know.

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