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What Are The Biggest Banks In America

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Big Banks Keep Getting Bigger

Top 10 biggest banks in the US by assets

Ever since the financial crisis, people have bemoaned too-big-to-fail banks, yet these institutions continue getting bigger. Following first-quarter earnings season, here are the 10 biggest banks in America:


Bank of America


Fifth Third Bancorp


*Includes only commercial banks based in the United States. **As of March 31, 2017. Data source:

While most people tend to associate size with strength and competitive advantage, it cuts both ways in the bank industry.

The nation’s biggest banks, the so-called global systematically important banks, or G-SIBs, including JPMorgan Chase, Bank of America, and Citigroup, all have to hold more capital than smaller and simpler banks.

JPMorgan Chase must set aside 3.5% more of its capital, Citigroup faces a 3% surcharge, and Bank of America is at 2.5%. This may not seem like a lot, but every bit of lost leverage matters in an industry as fiercely competitive as banking.

Another benefit that smaller banks have is that they can continue to grow by merging with or acquiring other banks. JPMorgan Chase, Bank of America, and Wells Fargo aren’t as lucky. Because they each hold more than 10% of the nation’s deposits, they’re prohibited by law from acquiring more depository institutions.

On the other hand, there are advantages when it comes to size. In the first place, bigger banks tend to benefit from economies of scale, making them more efficient on a size-adjusted basis than regional or community banks.

Big Banks Getting Bigger

398.98 2.57

The asset total for the five institutions in 2014 represents a 2.3 percent gain from the previous year.

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As an industry, banks made $36.9 billion in the year, a decline of 7.3 percent from the 2014 total due mainly to legal expenses at some of the largest institutions, according to the FDIC. Though the total profits declined, the number of banks that operated at a loss dropped to 9.4 percent from 12.7 percent in 2013.

JPMorgan showed the biggest growth in terms of its share of assets, increasing 13.3 percent on a quarterly basis and 6.7 percent annualized, SNL reported. BofA and Wells Fargo saw modest increases in their share, while Citi’s assets fell $20.84 billion quarterly as part of a year when its total increased by less than $1 billion.

Most Popular Banks In The Us

Bank of America is the most popular bank by customer accounts among the top 100 in assets. Bank of America, which has more than 118 million customer accounts, provides services at more than 4,300 locations in the U.S.

Most popular banks in the U.S., by customer accounts
First Horizon Bank 1,741,865

USAA Bank makes the top 10 among customer account popularity despite being outside the top 25 by assets. The San Antonio-based online-only bank has $117.3 billion in assets.

While the number of branches, employees and other factors can contribute to why one bank is more popular than another, there are many factors at play. Many consumers seek financial institutions that:

  • Offer a mix of helpful digital tools and convenient in-person options
  • Have low fees
  • Create innovative product offerings

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No : Marcus By Goldman Sachs

The sole online-only bank to make the top 10 list of institutions with the most assets, Marcus by Goldman Sachs combines the power of establishment with modern banking amenities. What Marcus by Goldman Sachs lacks in branch locations , it makes up for in handy digital tools and perks like high-yield savings accounts.

2020 Goldman Sachs Group revenue $44.6 billion
$132.1 billion

The 10 Largest Banks In The World

The 15 Largest Banks In America

Editorial Note: The content of this article is based on the authors opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

When it comes to the worlds largest banks by total assets, China dominates the list. Currently ranking as the worlds biggest bank is the Industrial & Commercial Bank of China, followed by three other Chinese bank behemoths. Meanwhile, Japan, the U.K and the U.S. round out the top three countries that boast the worlds biggest banks.

In this article, youll find the worlds biggest banks by total assets, according to the S& P Global Market Intelligence annual report, most recently released in April 2020. Heres how the worlds financial institutions stack up.

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Top 100 Banks Leading The Us In 2022

When it comes to choosing a bank, you have plenty of options. You may elect to bank with a national bank so that you can easily access your funds and get in-person customer service no matter where you are in the country. You may choose a regional bank if you prefer more localized offerings, or an online bank if you are seeking low fees. In addition, you may benefit from opting for a if you are seeking a more personal connection with your banking institution. If youre open to any of these institution types, it can be difficult to choose the best bank for you.

To make choosing the right bank or credit union easier, GOBankingRates has identified the Top 100 Best Banks of 2022 by analyzing these institutions across the following factors:

  • Total assets

  • Products/services offered

  • Average mobile app rating

These nine factors give a great wholesale overview of a bank or credit union, said Andrew Murray, content data researcher at GOBankingRates. In our recent survey, we found the features most important to people when opening an account with a new institution were low fees and good rates , which we cover through the factors analyzed.

Here are the Top 100 Best Banks of 2022. Click on each to see their detailed review:

Bank Of America $216 Trillion

Bank of America has been able to cut costs and appeal to young users by adapting strategies for the digital age. The banks digitized brancheswhich allow customers to access contactless ATMs and connect with call centers via video-conference technologyexperienced half the traffic of nearby branches only five months after launching in 2017.

Since officially launching in 2017, Erica has surpassed a massive 7 million users per year.

Bank of Americas digital-only services have also re-defined what the company offers its customers. Its voice-enabled assistant, Erica, provides customers the ability to conduct peer-to-peer payments as well as bill payments. Since officially launching in 2017, Erica has surpassed 15 million users. Digital payments network Zelle allows users to digitally send real-time payments to friends and family. By integrating this feature into its mobile app, Bank of America has opened the door for increased consumer engagement.Among the new financial service products to launch this year, Bank of America released a business-to-consumer payout solution that gives users greater flexibility with payments a new credit card meant for business travellers and a new cash rewards credit card tied to a rewards program.

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Jpmorgan Chase $287 Trillion

Top 5 US Banks -The Largest Commercial US Banks | Banking in the United States

Additionally, JPMorgan is investing heavily in banking technology, and boasts the biggest tech budget of all banks in 2019 with $11.4 billion. A key focus of these funds is identifying use cases to implement artificial intelligence, such as enabling investment banking clients to access analyst reports and stock exchange information through voice assistants. In fact, Chases digital leads are even looking outside the financial industry to stay ahead. Were watching Big Tech, says Allison Beer, the companys chief product officer, head of customer experience and digital. It may be totally unrelated to financial services.

Chases mobile banking strategy is key to its growth as a top US bank.

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Americas Best Banks 2022

The banking industry will be closely watching Federal Reserve Board Chairman Jerome Powell as he and the Fed follow through on plans to hike interest rates numerous times in 2022.

Americas largest banks echoed the U.S. economy in 2021, rebounding to a strong position following the upheaval and disruption of Covid-19 that continues to spread but with less disruptions to daily life.

Coming out of pandemic shutdowns aimed at slowing the spread of the virus served as a resiliency test for the sector, the likes of which hasnt been seen since the Great Recession.

The pandemic and the response by the Federal Government set the stage for the current environment in which the U.S. emerged from the quickest recession in U.S. history and an exceptional economic rebound not only brought 5.7% GDP growth but also inflation that measured at 7% on the consumer price index in December, the highest since 1982.

Americas banks were on the frontlines of that robust pandemic response, helping facilitate forgivable loans for mom-and-pop businesses across the country through the Paycheck Protection Program. That federal response not only saved many Main Street businesses but also allowed the damage to banks to be limited to only four bank failures.

The more than 5,000 banks and saving institutions in the United States that have survived the past couple years are now in position to thrive as pent-up demand and a full reopening of the global economy press on.

America’s Best Banks

Grupo Aval Acciones Y Valores Sa

  • Assets: $105.51 billion

Grupo Aval Acciones y Valores is Colombia’s largest financial holding company. Its four traditional banks include:

  • Banco de Bogot√°, the country’s oldest commercial bank, offering various retail services and products
  • Banco de Occidente, which services corporate and government clients as well as retail customers
  • Banco Popular, which works with government entities
  • Banco AV Villas, which is a source of , loans, and mortgages

Founded in 1994, the holding company is controlled by Colombian magnate Luis Carlos Sarmiento. With a presence throughout Central America, it also engages in investment banking through subsidiary Corficolombiana and in private pension and severance management through Porvenir.

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Tricks And Cunning: Big Penalties Dont Stop Banks From Moving Dirty Cash

Money streamed in from California, Peru, Bolivia, China and other places where low-income families were willing to sink their modest savings $2,000, $5,000, $10,000 into an investment they hoped would change their lives.

With the click of a keyboard, investors money funneled through the New York operations of global banking giant HSBC. Then it zipped across the world into accounts at HSBCs sprawling Hong Kong offices.

Like others taken in by what became known as the World Capital Market Ponzi scheme, Reynaldo Pacheco, a 44-year-old father in Santa Rosa, California, promoted the deal to family and acquaintances. When the WCM scheme began to unravel, one of the unlucky investors hed encouraged to put money into the deal decided to have him killed.

Three men kidnapped him and beat his head with rocks, leaving him dead in a creekbed, his hands tied behind his back with tape and one of his shoelaces.

Thousands of victims lost an estimated $80 million in the scheme.

The FinCEN Files show that HSBC continued shifting money for the WCM investment fund at a time when authorities in three countries were investigating the company and the banks internal watchdogs knew it was an alleged Ponzi scheme. More than $30 million tied to WCM flowed through the bank in 2013 and 2014 at a time when HSBC was under probation as part of its deferred prosecution deal with American authorities.

Us Banks With The Most Branches

The 15 Largest Banks In America

Chase Bank has the most branches in the U.S. by about 130, which isnt all that surprising considering it has the third-highest number of customer accounts. And the banks with the most branches are also the three with the most customer accounts, just in differing orders.

However, theres a wide gap in the number of branches by the bank first on the list Chase Bank, 5,031 and the one at 25th Texas-based Prosperity Bank, 294.

Like the most popular banks, the following analysis only includes banks in the top 100 in assets.

U.S. banks with the most branches
First Citizens Bank 524
First National Bank of Pennsylvania 334
Prosperity Bank 294

Even though people visit in-person branches less often which makes sense amid the pandemic some still prefer a personal touch.

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Pnc Financial Services Group Inc

PNC is a regional bank operating in parts of the Northeast, South and Midwest. It was founded as Pittsburgh Trust and Savings Co. and in 2008 acquired the troubled Cleveland-based National City Corp. That transaction roughly doubled the banks size. Today, the bank has around 2,300 branches.

PNC agreed to acquire BBVA USA for $11.6 billion in November 2020 and the deal closed June 1. The Federal Reserves latest quarterly report, dated June 30, however, still shows BBVA and PNC as separate banks. Once assets are combined PNC Bank is projected to be a top-five bank based on assets.

In 2018, PNC started to expand outside of its traditional market of 19 states, mostly east of the Mississippi River, and Washington D.C. The deal with BBVA USA would accelerate that expansion.

Assets: $453.97 billion

Headquarters: Pittsburgh

Capital One $36026 Billion

Capital One managed to make the list of top US banks, likely due to its ongoing commitment to digital transformation. Capital One increased its technology staff from 2,500 in 2011 to 9,000 in 2019, helping launch Enoits AI-powered chatbot, similar to Bank of Americas Erica.

Despite its major data breach in mid-2019, the bank also came first on our Banking Digital Trust Report, where it was the frontrunner on all six pillars of trust: security, privacy, reputation, reliability, ease of use, and feature breadth. Capital Ones high scores likely stemmed from its recent large-scale cloud migration, which has improved service continuity and facilitated upgrades, as well as reinforced security protocols that helped rebound customer perceptions.

Capital One also acquired fintech United Income in 2019, a digital platform that offers wealth management services for people moving into retirement. The fintech combines both technological capabilities with human facets, like providing access to a team of wealth managersmaking it attractive for consumers who still desire human interaction.

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Pnc Financial Services $45745 Billion

PNC Bank is known as a top bank in the US because it offers specialized perks and services to customers while developing original products. In 2017 PNC began offering mobile payment options to corporate clients who hold Visa commercial cardsallowing them to leverage popular mobile wallets like Apple Pay.

Additionally, in 2019 PNC piloted credit cards with card verification values that periodically refresh, in the hopes of combating fraud. Fraudsters are able to guess three-digit CVV codes relatively easily due to the limited number of permutations but periodically changing CVVs makes stolen data less valuable.

Most recently, PNC responded to the rise in digital banking by rolling out hybrid branches called solution centershousing self-serve tools such as video teller machines, ATMs, and mobile workstations while in-person staff assist with more complex needs. The hybrid approach is a strong tactic that aligns well with consumer preferences. For example, a 2020 KPMG survey showed that once the pandemic eases, customers would be less likely to visit branches to manage accounts or check balances .

No : Wells Fargo Bank

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Despite the fallout Wells Fargo Bank experienced and continues to experience after a 2016 scandal surrounding fake accounts, the financial institution still has many customer accounts . The banks total revenue in 2020, $72.3 billion, was 15% lower than the $85.1 billion in 2019. Like Chase Bank, its loan loss provisions jumped 426% year over year.

Wells Fargo Bank assets, numbers and more
$185.0 billion
Review:Wells Fargo Bank

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China Construction Bank Corp

  • Headquarters: Beijing, China
  • Total assets $3.65 trillion

China Construction Bank Corp. has hundreds of millions of customers, offering both corporate and personal services like asset management, financing, life insurance, investment banking and pension plans. Some of its major clients are large state-owned enterprises in infrastructure sectors. It operates in more than 30 countries and regions, including the United States.

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