The Largest Banks in the U.S. (2024) (2024)

When referring to the rankings of the largest banks in the United States, the order is based on the total assets each bank manages. In the table below, we include the number of customers, branches and ATMs in each bank’s network to give context to the size and accessibility of each financial institution.

Below are the largest 10 banks by assets in the U.S., as reported by the Federal Reserve on Sept. 30, 2023.

#1 Chase Bank

Over 1,200 institutions have come together since 1799 to create what Chase is now. Headquartered on Park Avenue in New York City, Chase holds the most assets of all banking institutions. It offers numerous checking and savings accounts, investment accounts, business accounts and various types of credit cards.

Advantages Over Other Options

  • It offers plenty of account options, allowing you to do all your financial management in one place.
  • With branch locations in 48 states, it has a retail presence in more states than any other bank on this list.
  • It’s great for families, with several free account options for children and college students.

#2 Bank of America

The number two spot is held by Bank of America, another bank that’s been in business for hundreds of years. Charlotte, N.C., is currently home to the BofA headquarters and the bank has branch locations in 37 states. As a banking, investment and business platform, Bank of America offers personal and business checking and savings accounts, credit cards, investment banking and various loans.

Advantages Over Other Options

  • If offers a tiered Preferred RewardsⓇ member program with various benefits and pricing discounts available for each customer tier level.
  • Merrill (previously Merill Lynch) is the investment and wealth management division of BofA, and provides bank customers easy access to a network of more than 15,000 financial advisors.
  • Financial education resources are readily available on the bank’s website along with helpful online savings programs and budget tracking tools.

#3 Wells Fargo

Headquartered in San Francisco and founded by Henry Wells and William G. Fargo in 1852, Wells Fargo originally began as a way to move money around the country. Today, the company has scaled to be the fourth-largest bank in the U.S. and has a broad selection of financial products.

Advantages Over Other Options

  • The bank has more than 4,500 branches — the largest retail presence on this list.
  • It offers many ways to DIY invest, or take advantage of a financial advisor network.
  • It has a wide selection of personal banking accounts, loans and credit cards, which make the bank a good option for customers who want to manage all of their financial products under one roof.

#4 Citibank

Citigroup, which is the parent company of Citibank, is the fourth-largest bank in the country based on assets. Citibank is a global company with headquarters in New York City. Its branch locations are limited when compared to other large banks on this list, but the bank has strong mobile and online banking platforms. Citibank offers banking, lending, investing, wealth management and credit cards to its members.

Advantages Over Other Options

  • It has an expansive global presence, with operations in more than 150 countries.
  • Citibank CD yields are typically more competitive than other large, brick-and-mortar banks.
  • Citibank checking account customers have access to a fee-free ATM network with more than 60,000 locations in the U.S.

#5 U.S. Bank

In 1863, President Lincoln signed the National Bank Charter No. 24 into law, allowing U.S. Bancorp’s predecessor to open its doors for the first time. Currently located in Minneapolis, Minnesota, U.S. Bancorp (the parent company of U.S. Bank) offers a range of products including bank accounts, loans, wealth management and business accounts.

Advantages Over Other Options

  • It has a robust footprint in the Midwest and West with over 2,000 branch locations.
  • It offers low or no-fee checking account options that include perks like the Smart RewardsⓇ benefit program and the opportunity to earn interest

#6 PNC Bank

PNC began in 1852 as Pittsburgh National Bank. Still headquartered in Pittsburgh, PNC offers traditional options such as checking accounts, savings, investments, credit cards and borrowing options. PNC goes a step further, offering specialty accounts like accessible banking options for customers with disabilities, student accounts and military-focused accounts.

Advantages Over Other Options

  • Its virtual wallet earns interest on combined checking and savings accounts.
  • It has built-in budgeting tools with banking accounts.
  • It offers multiple sign-up bonus options.

#7 Goldman Sachs Bank

Goldman Sachs is a well-known investment firm that also offers Marcus, a savings account offshoot. Marcus by Goldman Sachs didn’t open until 2016 when Goldman Sachs decided to enter the high-yield savings account game. Marcus is entirely online, but Goldman Sachs has its headquarters in New York City.

Advantages Over Other Options

  • It offers a huge range of investment options for both business and consumer banking.
  • It has a competitive high-yield savings account and CD rates.

#8 Truist Bank

Truist formed in 2019 when SunTrust and BB&T merged, creating the eighth-largest bank in the U.S. Now, Truist’s headquarters is in Charlotte, N.C., and the bank offers personal banking, business banking and commercial banking for large businesses.

Advantages Over Other Options

  • The bank has a strong presence in the South, Mid-Atlantic and Midwest with over 2,000 retail locations.
  • Its checking account comes with perks like no overdraft fees, low or no monthly fees, free personal checks and a negative balance buffer.

#9 Capital One

Capital One has a shorter history than other institutions on this list, as it opened in 1994 and quickly moved to its current headquarters in McLean, Virginia. Started by Richard Fairbanks, Capital One has made a name for itself in the credit space as well as the banking sphere. The only space where Capital One doesn’t venture is investment management.

Advantages Over Other Options

  • It offers an advanced, easy-to-use mobile app.
  • It has a large catalog of no-fee credit cards.

#10 TD Bank

Although the TD Group’s headquarters are in Cherry Hill, New Jersey, the bank got its start in Canada. The company was founded in 1855 in Toronto by millers and merchants. It wasn’t until 1919 that TD opened its New York City location. The TD Group offers the usual savings and checking accounts, mortgage and other loan options, credit cards and investing options.

Advantages Over Other Options

  • It focuses on cross-border banking between the U.S. and Canada.
  • Its TD MySpend app helps track your spending and saving.

The largest banks in the country can be excellent choices for banking, but that doesn’t mean they’re the right option for every customer. Here’s a look at the pros and cons of going with a big bank.

Pros

Choosing a large bank for your financial needs can have its advantages. Here are some of the pros of choosing one of the largest American banks:

  • Reputable name: Big-name banks offer a level of trust that newer banks can’t provide. Large banks have usually been in business for decades and have more credibility.
  • Global banking: Many names on our list offer global branches and have networks worldwide, which can be important to some customers.
  • Access to financial products: Larger banks often offer a suite of other financial products besides just bank accounts. You’ll typically find credit cards, investment accounts, CDs, loans and more at bigger banks.
  • Many in-person banking options: Most large banks have a vast network of branches, allowing you to bank in-person when needed. This network also allows you to travel or move and still maintain the same level of involvement with your bank.
  • Strong online presence: Big banks often invest more in easy-to-use online banking platforms. Mobile apps can make banking from your phone just as easy as banking in person.

Cons

While choosing large banks can be a good choice for some, there can be downsides to these bigger institutions as well. Here are some cons to banking with larger banks:

  • Lacks personal relationship: While big banks offer many branches, you might not get the same community feeling that you do with credit unions and smaller banks.
  • Potentially higher fees: Big banks have a lot to maintain, meaning the fees may get passed onto you. Most banks offer a way to waive monthly account fees, but not everyone can meet the no-fee requirements.
  • Lower yields: Big banks often offer lower APYs on CDs and checking and saving accounts than credit unions and online banks.

*Data accurate as of Feb. 6, 2024.

Editor’s Note: Before making significant financial decisions, consider reviewing your options with someoneyou trust, such as a financial adviser, credit counselor or financial professional, since every person’s situation and needs are different.

The Largest Banks in the U.S. (2024) (2024)

FAQs

The Largest Banks in the U.S. (2024)? ›

The nation's biggest banks include both traditional retail banks and investment banks. While Chase, Bank of America, Wells Fargo and Citi stand out as big banks, U.S. Bank, PNC Bank, Goldman Sachs, Truist Bank, Capital One and TD Bank round out the 10 largest banks in the U.S.

What are the 10 largest banks in the US? ›

The nation's biggest banks include both traditional retail banks and investment banks. While Chase, Bank of America, Wells Fargo and Citi stand out as big banks, U.S. Bank, PNC Bank, Goldman Sachs, Truist Bank, Capital One and TD Bank round out the 10 largest banks in the U.S.

What is the number 1 Bank of America? ›

1. JPMorgan Chase. JPMorgan Chase, or Chase Bank, is the biggest bank in America with nearly $3.4 trillion in assets. It boasts a vast network of over 4,800 physical branches and more than 15,000 ATMs.

What is the 15th largest bank in the US? ›

The 15 Biggest Banks in the US
RankingBank NameAssets
12State Street Bank and Trust Co.$293.2 billion
13BMO$265.7 billion
14Citizens Bank$221.8 billion
15Fifth Third Bank$213.8 billion
11 more rows
Mar 16, 2024

What is the 5th largest Commercial Bank in the US? ›

What are the five largest banks in the U.S.? The five largest banks in the U.S., according to domestic assets, are Chase, Bank of America, Wells Fargo Bank, Citibank and U.S. Bank.

What are the top 5 largest banks in America? ›

  • JPMorgan Chase – $3.31 Trillion.
  • Bank of America – $2.41 Trillion.
  • Citigroup – $1.714 Trillion.
  • Wells Fargo & Co. – $1.712 Trillion.
  • U.S. Bancorp – $591.21 Billion.
  • PNC Financial Services – $553.39 Billion.
  • Truist Financial Corporation – $534.19 Billion.
  • Goldman Sachs – $513.91 Billion.
Jan 4, 2023

Who are the 5 largest banks in the US? ›

  1. JPMorgan Chase. Chase Bank is the consumer banking division of JPMorgan Chase. ...
  2. Bank of America. Bank of America serves about 68 million consumers and small business clients worldwide. ...
  3. Wells Fargo. Wells Fargo was founded in 1852. ...
  4. Citigroup. ...
  5. U.S. Bancorp. ...
  6. PNC Financial Services. ...
  7. Truist Financial. ...
  8. Goldman Sachs.
Apr 2, 2024

What is the strongest US bank? ›

J.P. Morgan Chase is the number one bank in America in terms of total assets held, according to the Federal Reserve.

What is the most stable bank in America? ›

Summary: Safest Banks In The U.S. Of April 2024
BankForbes Advisor RatingProducts
Chase Bank5.0Checking, Savings, CDs
Bank of America4.2Checking, Savings, CDs
Wells Fargo Bank4.0Savings, checking, money market accounts, CDs
Citi®4.0Checking, savings, CDs
1 more row
Jan 29, 2024

What is the most successful bank in the US? ›

List of largest banks in the United States
RankBank nameTotal assets (billions of US$)
1JPMorgan Chase$3,898
2Bank of America$3,153
3Citigroup$2,368
4Wells Fargo$1,909
82 more rows

What bank is in all 50 states? ›

What bank operates in all 50 states? No bank currently operates a branch location in all 50 states, though several of the nation's largest institutions come close. Chase Bank, for one, has over 4,700 branch locations in 49 states and Washington D.C. Wells Fargo also offers around 4,600 branches in 36 states.

What are the big 4 banks? ›

Each of the Big Four banks—Commonwealth Bank, Westpac, National Australia Bank, and Australia and New Zealand Banking Group (ANZ)—have a lengthy history, starting life at a local level and then gradually increasing market share by swallowing up smaller rivals during periods of financial turmoil.

Which is the top No 1 bank in the world? ›

JPMorgan Chase

What is the world's largest bank? ›

By market capitalization
RankBank nameMarket cap (US$ billion)
1JPMorgan Chase491.76
2Bank of America266.45
3Industrial and Commercial Bank of China219.45
4Wells Fargo178.74
6 more rows

Who owns Chase? ›

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with $2.6 trillion in assets and operations worldwide.

What's the richest bank in America? ›

List of largest banks in the United States
RankBank nameTotal assets (billions of US$)
1JPMorgan Chase$3,898
2Bank of America$3,153
3Citigroup$2,368
4Wells Fargo$1,909
82 more rows

What are the 5 biggest bank in the world? ›

The largest five banks by market capitalization are JP Morgan & Chase, Bank of America, Industrial and Commercial Bank of China, Wells Fargo, and China Construction Bank. The sixth through eighth largest banks, while smaller in market cap than the top five, are still significantly large.

What bank is the richest? ›

By market capitalization
RankBank nameMarket cap (US$ billion)
1JPMorgan Chase491.76
2Bank of America266.45
3Industrial and Commercial Bank of China219.45
4Wells Fargo178.74
6 more rows

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