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20 Largest Banks in the U.S.

The 20 largest banks in the United States include some names you’ve probably heard before, like Bank of America and Wells Fargo.

The list also includes banks that aren’t as well-known across the country, like Truist, TD Bank, and State Street.

The ranks change every year as upstart banks with better online banking features and higher savings yields poach customers from tradition-bound institutions that don’t innovate as quickly.

These are the 20 largest banks in the United States by total assets.

Biggest Banks 4 1

Each entry includes some additional information:

  • Headquarters. Some banks have two headquarters, one for their official charter location and one for their executive offices. Charter locations tend to be in states with favorable tax and regulatory environments, like South Dakota. Executive headquarters tend to be in traditional financial centers, like New York City.
  • Domestic Asset Percentage. This is the percentage of U.S.-based assets as a share of total assets. U.S. assets make up a majority of assets for every bank on this list.
  • Branch Count. This is the number of bank branches the bank has in the United States. Banks that cater more to consumers and small businesses may have thousands of branches. Banks that cater mostly to big businesses and investment clients may have only a handful.
  • Founding Date. Some banks trace their lineage back to the 18th or 19th century. Others rose within the past few decades. Some, like JPMorgan Chase and Truist, have long histories, but their modern structure is the product of a recent merger.
  • Current CEO. This is the person who currently leads the bank’s day-to-day operations. All of these banks are governed by boards of directors, and many are publicly traded.

20 Largest Banks in the U.S. by Total Assets

What is JPMorgan Chase’s total asset value?$3.38 trillion
Where is JPMorgan Chase headquartered?Columbus, Ohio & New York, New York
What percentage of JPMorgan Chase’s assets is domestic?76%
How many branches does JPMorgan Chase have?4,828
When was JPMorgan Chase founded?Dec. 31, 2000
Who is the CEO of JPMorgan Chase?Jamie Dimon

JPMorgan Chase & Co. owes its name to famed 19th century financier J.P. Morgan. But the bank’s oldest predecessor institution — The Manhattan Company — was founded in 1799, almost 40 years before Morgan’s birth. 

The company’s current structure and name dates to December 2000, when J.P. Morgan & Co. merged with The Chase Manhattan Company. Since then, the bank has grown organically and by acquisition. It absorbed Bank One in 2004, feasted on the remains of Bear Stearns and Washington Mutual amid the global financial crisis in 2008, and earned a huge windfall from General Motors’ $23 billion IPO in 2010.

Today, JPMorgan Chase is among the most visible consumer and small-business banks in the United States. It has nearly 5,000 branches and a comprehensive lineup of cash-back and travel rewards credit cards.

Jp Morgan Chase Logo

What is Bank of America’s total asset value?$2.44 trillion
Where is Bank of America headquartered?Charlotte, North Carolina
What percentage of Bank of America’s assets is domestic?95%
How many branches does Bank of America have?3,895
When was Bank of America founded?Sept. 30, 1998
Who is the CEO of Bank of America?CEO Brian Moynihan

Ironically, Bank of America’s oldest predecessor institution was called Bank of Italy. Founded and based in San Francisco, Bank of Italy arose in the early 1900s to serve its home city’s growing population of Italian immigrants, who often had difficulty getting accounts and loans at other banks.

After merging to form the Bank of America and Italy in 1922, the bank grew through acquisition and territorial expansion throughout the 20th century, changing its name to the simpler BankAmerica along the way. Its current structure and name date to 1998, when Charlotte-based NationsBank bought it in what was then the largest bank merger in U.S. history.

Bank of America emerged from the late-2000s financial crisis stronger and bigger than ever. It purchased distressed mortgage lender and servicer Countrywide Financial in 2007 and investment services firm Merrill Lynch in 2008, establishing itself as one of the United States’ largest home lenders and investment brokerages. Even if you don’t, chances are good that someone you know borrows from or invests with Bank of America.

Bank Of America Logo
What is Citibank’s total asset value?$1.72 trillion
Where is Citibank headquartered?Sioux Falls, South Dakota & New York, New York
What percentage of Citibank’s assets is domestic?60%
How many branches does Citibank have?666
When was Citibank founded?June 16, 1812
Who is the CEO of Citibank?Jane Fraser

The War of 1812 was a Revolutionary War rematch between the United States and Great Britain, and it nearly brought a young America to its knees. That the Federal government and war-torn Washington, D.C., recovered better than anyone expected was due in part to a $700,000 capital infusion from City Bank, a newly chartered financial institution based in New York City.

U.S. leaders didn’t forget City Bank’s generosity. Not that they would anyway, as the bank’s founders and key leaders were extraordinarily well-connected in the country’s small, tight-knit political elite. Throughout the 19th century and into the 20th, the bank invested in critical infrastructure projects that helped build the modern economy, from urban electrification to transatlantic communications cables.

Today, Citibank is a major global financial institution that’s known for investment banking, corporate lending, and consumer financial services. It’s one of the few big banks led by a woman and renowned for generous bank account promotions for new accountholders.

Citbank Logo
What is Wells Fargo’s total asset value?$1.71 trillion
Where is Wells Fargo headquartered?Sioux Falls, South Dakota & San Francisco, California
What percentage of Wells Fargo’s assets is domestic?99%
How many branches does Wells Fargo have?4,739
When was Wells Fargo founded?March 18, 1852
Who is the CEO of Wells Fargo?Charles Scharf

Wells Fargo is the smallest (barely) of the “big four” U.S.-based banks. Like the others, it traces its history back more than a century. Beginning in the 1850s, founders Henry Wells and William G. Fargo did more than almost anyone else to knit together the rapidly growing United States and its fragmented financial system.

They also helped establish San Francisco as a vital financial hub as the frontier closed and American merchants turned their attention to opportunities overseas. Wells Fargo would provide invaluable support as the city got back on its feet following the devastating 1906 earthquake. Later, the bank gave back on an even grander scale by helping to finance the United States’ war bond issues during World War II.

Wells Fargo has millions of satisfied customers today, but it has also courted its share of controversy. The bank paid more than $175 million to settle U.S. Department of Justice allegations of discriminatory lending practices in 2012, but faced similar allegations a decade later. In between, Wells Fargo paid more than $3 billion to settle civil and criminal cases stemming from a long-running scheme to open fraudulent accounts without customers’ knowledge.

Wells Fargo Logo
Us Bancorp Logo
What is U.S. Bank’s total asset value?$582 billion
Where is U.S. Bank headquartered?Cincinnati, Ohio & Minneapolis, Minnesota
What percentage of U.S. Bank’s assets is domestic?98%
How many branches does U.S. Bank have?2,251
When was U.S. Bank founded?July 13, 1863
Who is the CEO of U.S. Bank?Andrew Cecere

U.S Bank’s long history began during the Civil War, when the First National Bank of Cincinnati and First National Bank of Minneapolis opened their doors a year apart. U.S. Bank retains significant presences in both cities, but it now serves customers from coast to coast.

More than most other big banks, U.S. Bank focuses on the needs of American consumers and small-business owners. It has a limited presence outside the country (unlike Citibank, which is a truly global institution). And it boasts one of the most competitive lineups of consumer and small-business credit cards and bank accounts around.

Pnc Bank Logo
What is PNC Bank’s total asset value?$533 billion
Where is PNC Bank headquartered?Wilmington, Delaware & Pittsburgh, Pennsylvania
What percentage of PNC Bank’s assets is domestic?100%
How many branches does PNC Bank have?2,639
When was PNC Bank founded?April 10, 1845
Who is the CEO of PNC Bank?Bill Demchak

PNC Bank is the result of a 1983 merger between the Pittsburgh National Corporation and Provident National Corporation, two Pennsylvania-based financial institutions that conveniently shared an acronym. From its power base in the Philadelphia area, Provident served the greater Mid-Atlantic region. Pittsburgh National helped build the Steel City and develop the great industrial centers of the Appalachian and Midwest regions

Today, PNC blends consumer-facing financial services with treasury management and corporate lending for countless small and midsize businesses. It’s one of several banks on this list that’s exclusively focused on the United States, with no international deposits, branches, or financing activities to speak of.

Truist Bank Logo
What is Truist Bank’s total asset value?$532 billion
Where is Truist Bank headquartered?Charlotte, North Carolina & Atlanta, Georgia
What percentage of Truist Bank’s assets is domestic?100%
How many branches does Truist Bank have?2,117
When was Truist Bank founded?Dec. 6, 2019
Who is the CEO of Truist Bank?Bill Rogers

Truist Bank, also known as Truist Financial or just Truist, is the newest bank on this list. But its main predecessor institutions, BB&T and SunTrust, trace their lineages back to the late 19th century.

North Carolina-based BB&T was a major commercial and consumer bank in its home state and surrounding areas, especially after a “merger of equals” with Southern National Bank in 1997. BB&T acquired several other regional banks during the 1990s and 2000s, including One Valley Bancorp, MidAmerica Bancorp, and Main Street Banks.

SunTrust Banks was a collection of associated financial institutions based farther south, in Georgia and Florida. Like BB&T, it grew by acquisition, though its highest-profile mergers involved investment managers rather than depositary institutions. Today, the combined bank is the biggest in the southeastern United States.

Goldman Sachs Bank Logo
What is Goldman Sachs’ total asset value?$502 billion
Where is Goldman Sachs headquartered?New York, New York
What percentage of Goldman Sachs’ assets is domestic?87%
How many branches does Goldman Sachs have?2
When was Goldman Sachs founded?1869
Who is the CEO of Goldman Sachs?David M. Solomon

Goldman Sachs charted a different course than most of its fellow big banks. Founder Marcus Goldman pioneered short-term promissory notes known as “commercial paper,” attracting business clients who had difficulty finding favorable financing elsewhere. He and his partners (a son and son-in-law) took the company public in 1896 and opened branch offices in other major cities in the following years, cementing its reputation as a top business lender.

Today, Goldman Sachs has moved beyond the commercial paper business, but it remains focused on institutional clients, investment banking, and high-finance activities rather than consumer-facing services. With just two public branches and only a handful of consumer products marketed under the Marcus brand, that seems unlikely to change anytime soon

Td Group Us Holdings Llc Logo
What is TD Bank’s total asset value?$405 billion
Where is TD Bank headquartered?Wilmington, Delaware
What percentage of TD Bank’s assets is domestic?100%
How many branches does TD Bank have?1,159
When was TD Bank founded?Feb. 1, 1955
Who is the CEO of TD Bank?Leo Salom

“TD” stands for “Toronto Dominion.” True to its name, TD Bank is the only bank of Canadian origin on this list. 

After decades as a commercial finance and investment management powerhouse in its northern homeland, TD Bank expanded south of the border — and established itself as a major player in the fast-growing discount brokerage space — with the 1996 purchase of New York-based Waterhouse Investor Services. If you or someone you know invest with TD Ameritrade or its new corporate owner Charles Schwab, you or they partake of the TD Bank ecosystem.

On the deposit banking side, the U.S. operations of TD Bank took root in the 2000s, with the rapid-fire acquisitions of Banknorth (2005) and Commerce Bank (2007). Those mergers netted TD Bank more than 1,000 branches in the eastern United States, and the bank has continued to expand in the years since.

Morgan Stanley Logo 1.svg
What is Morgan Stanley’s total asset value?$391 billion
Where is Morgan Stanley headquartered?Purchase, New York & Salt Lake City, Utah
What percentage of Morgan Stanley’s assets is domestic?100%
How many branches does Morgan Stanley have?0
When was Morgan Stanley founded?Sept. 5, 1935
Who is the CEO of Morgan Stanley?James P. Gorman

Morgan Stanley traces its origins to a key moment in the history of U.S. financial regulation: the passage of the Glass-Steagall Act in 1933. Glass-Steagall prohibited banks from offering commercial banking services alongside investment banking services, forcing financial conglomerates to spin off one arm or another.

One such conglomerate was J.P. Morgan & Co., the predecessor of JPMorgan Chase. Several former J.P. Morgan partners chartered Morgan Stanley in 1935 to house their former employer’s investment banking arm. Thanks to its existing client base and pedigree, Morgan Stanley immediately became an i-banking powerhouse — accounting for about a quarter of all U.S. IPO and private placement activity during its first year in business.

Today, Morgan Stanley offers investment banking, investment management, and private banking (wealth management) services. For simplicity’s sake, we combine assets from its two main subsidiaries into a single total here.

Capital One Logo
What is Capital One Bank’s total asset value?$388 billion
Where is Capital One Bank headquartered?McLean, Virginia
What percentage of Capital One Bank’s assets is domestic?100%
How many branches does Capital One Bank have?296
When was Capital One Bank founded?July 21, 1994
Who is the CEO of Capital One Bank?Richard Fairbank

The terms “startup” and “big bank” are often in tension, but not in Capital One’s case. Capital One is the newest bank on this list that’s not the product of a merger of older financial institutions. 

Founder and still-CEO Richard Fairbank started Capital One in 1994 as a nimbler, lower-cost alternative to incumbent banks. Even before online banking was a thing, Capital One focused on anytime-anywhere financial services rather than in-branch services. Its lineup of popular credit cards is the most visible result today.

Capital One is also a big player in online deposit accounts, small-business banking services, commercial lending, and auto lending. It still has few locations anyone would recognize as “branches,” though its growing footprint of Capital One Cafes offer basic banking services in a more relaxed environment.

Bank Of New York Mellon Logo
What is BNY Mellon’s total asset value?$365 billion
Where is BNY Mellon headquartered?New York New York
What percentage of BNY Mellon’s assets is domestic?71%
How many branches does BNY Mellon have?2
When was BNY Mellon founded?July 1, 2007
Who is the CEO of BNY Mellon?Todd Gibbons

Like Goldman Sachs, BNY Mellon is not built for the average consumer. And that’s okay — it’s the world’s largest security services provider and one of its largest custodian banks, so it’s clearly doing something right. 

BNY Mellon’s current corporate structure dates to 2007, when the Bank of New York and the Mellon Financial Corporation merged. 

If both institutions sound vaguely familiar, it’s because they’re both key to America’s financial history. Future U.S. Treasury Secretary Alexander Hamilton (he of “Hamilton” fame) founded the Bank of New York in 1784 with Aaron Burr, who would kill Hamilton in a duel two decades later. Mellon Financial Corporation was the modern iteration of T. Mellon and Sons Bank, a Pittsburgh-based bank founded by another future Treasury secretary whose family name also happens to attach to Pittsburgh’s best-known private research university.

State Street Logo
What is State Street’s total asset value?$296 billion
Where is State Street headquartered?Boston, Massachusetts
What percentage of State Street’s assets is domestic?69%
How many branches does State Street have?2
When was State Street founded?1792
Who is the CEO of State Street?Ronald P. O’Hanley

State Street Corporation is another big bank that happily operates behind the scenes. Founded in 1792, it’s also one of the oldest continuously operating financial institutions in the United States. 

Through the 19th and early 20th centuries, State Street rode the wave of prosperity unleashed by maritime merchants and industrial moguls based in its hometown of Boston. State Street also accumulated a significant share of New England’s retail banking market in the process. It exited consumer banking in 1999 when it sold its branches and related assets to Citizens Bank, which makes its own appearance on this list.

Today, the average person is most likely to interact with State Street through one of its investment products. Along with Vanguard, it’s a major player in low-cost ETFs and mutual funds, with a particular focus on index funds that seek to mirror market returns rather than beat the market. Unsurprisingly, it’s designated as a systemically important financial institution (“too big to fail”) by the international Financial Stability Board.

Citizens Financial Logo
What is Citizens Bank’s total asset value?$227 billion
Where is Citizens Bank headquartered?Providence, Rhode Island
What percentage of Citizens Bank’s assets is domestic?100%
How many branches does Citizens Bank have?1,165
When was Citizens Bank founded?1828
Who is the CEO of Citizens Bank?Bruce Van Saun

Citizens Bank began life as High Street Bank back in the 1820s. After 150 years or so as a sleepy regional bank, Citizens sold out to Royal Bank of Scotland Group in 1988 and embarked on a buying spree. It was one of the biggest banks in the Northeast by the early 2000s.

Since then, Citizens Bank has steadily grown through acquisition and territorial expansion, despite some financial stress (and legal troubles) during and after the financial crisis. It now has more than 1,000 branches and 3,000 ATMs across the eastern United States.

Silicon Valley Bank Logo
What is Silicon Valley Bank’s total asset value?$212 billion
Where is Silicon Valley Bank headquartered?Santa Clara, California
What percentage of Silicon Valley Bank’s assets is domestic?94%
How many branches does Silicon Valley Bank have?16
When was Silicon Valley Bank founded?1983
Who is the CEO of Silicon Valley Bank?Gregory W. Becker

Silicon Valley Bank calls itself “the financial partner of the innovation economy.” It has four main divisions: a traditional commercial bank, an investment bank, a venture capital arm, and a private banking and wealth management department for high-net-worth individuals and families.

Founded in the early 1980s, just as its namesake region was emerging as a global innovation engine, Silicon Valley Bank has provided financial backing to some of the biggest names in tech: ecommerce giants like Shopify, healthcare disruptors like Teladoc, and multibillion-dollar investment shops like Andreesen Horowitz. But unless you’re independently wealthy or decide to launch a tech startup, you’re unlikely to deal with Silicon Valley Bank directly.

Fifth Third Bank Logo
What is Fifth Third Bank’s total asset value?$206 billion
Where is Fifth Third Bank headquartered?Cincinnati, Ohio
What percentage of Fifth Third Bank’s assets is domestic?100%
How many branches does Fifth Third Bank have?1,097
When was Fifth Third Bank founded?June 17, 1858
Who is the CEO of Fifth Third Bank?Greg D. Carmichael

Fifth Third Bank began life in 1858 as the Bank of the Ohio Valley, a Cincinnati-based retail and commercial bank. A series of mergers and splits followed, but by the 1927 merger of Fifth-Third National Bank and the Union Trust Company into the Fifth Third Union Trust Company, Fifth Third was more or less in its modern form.

Fifth Third solidified its grip on the Ohio Valley market through the middle of the 20th century, then began years of sustained northward and southward expansion. Notable firsts during this period included the JEANIE ATM — an early version of the soon-to-be-everywhere technology — and the country’s first shared ATM network. Today, Fifth Third has branches from Florida to Michigan to support a thriving retail banking and commercial lending business.

Mt Bank Logo
What is M&T Bank’s total asset value?$204 billion
Where is M&T Bank headquartered?Buffalo, New York
What percentage of M&T Bank’s assets is domestic?100%
How many branches does M&T Bank have?1,082
When was M&T Bank founded?Aug. 29, 1856
Who is the CEO of M&T Bank?Rene F. Jones

M&T Bank began life as the Manufacturers and Traders Trust Company in mid-19th century Buffalo, New York. True to its name, it benefited early on from its home city’s rapid growth as a manufacturing and logistics hub.

Buffalo’s fortunes declined in the second half of the 20th century along with other Rust Belt cities. But M&T Bank remained undaunted. Starting in the 1980s, it went on a shopping spree, ultimately acquiring more than 20 local and regional banks in the Northeast and Mid-Atlantic.

With more than 1,000 branches and the naming rights to the Baltimore Ravens’ home stadium, M&T Bank today is a major consumer and small-business bank serving customers from upstate New York to Virginia.

First Republic Bank
What is First Republic Bank’s total asset value?$198 billion
Where is First Republic Bank headquartered?San Francisco, California
What percentage of First Republic Bank’s assets is domestic?100%
How many branches does First Republic Bank have?72
When was First Republic Bank founded?July 1, 1985
Who is the CEO of First Republic Bank?Michael J. Roffler

First Republic Bank provides consumer banking, business banking, and wealth management services to clients across the United States.

If you haven’t seen a First Republic Bank in your travels, you’re not alone. It only has a few dozen outposts, mostly in upscale cities and neighborhoods on the East and West coasts. That’s because more than most banks, First Republic focuses on serving upscale clients — people with hundreds of thousands or even millions of dollars to deposit and invest.

First Republic isn’t merely a smaller version of Morgan Stanley though. It doesn’t do investment banking, and it has a growing stake in the private student loan industry thanks to ownership of student lending startups like Gradifi and CommonBond.

keybank logo
What is KeyBank’s total asset value?$185 billion
Where is KeyBank headquartered?Cleveland, Ohio
What percentage of KeyBank’s assets is domestic?100%
How many branches does KeyBank have?998
When was KeyBank founded?1825
Who is the CEO of KeyBank?Christopher M. Gorman

One of KeyBank’s two predecessors began life in 1849 as a Cleveland-based savings bank (Society National Bank) that financed the first proper skyscraper in its hometown. Over the following century, it accumulated an impressive pile of deposits — some $200 million by 1950 — from families and business owners across the industrial Midwest.

Despite its impressive growth, Society National confined its physical presence to the Cleveland area until the late 1950s, when it began buying smaller banks. It continued expanding until its 1994 merger with New York State-based KeyBank, which also traced its history to the 19th century and was formerly known as the National Commercial Bank of Albany. Today, the combined institution has about 1,000 branches across the Northeast and Midwest.

Huntington Bank Logo
What is Huntington Bank’s total asset value?$178 billion
Where is Huntington Bank headquartered?Columbus, Ohio
What percentage of Huntington Bank’s assets is domestic?100%
How many branches does Huntington Bank have?1,104
When was Huntington Bank founded?1866
Who is the CEO of Huntington Bank?Stephen D. Steinour

Huntington Bank is another Ohio-based bank that focuses on serving consumers and small-and-midsize businesses. It’s the single largest originator of SBA 7(a) loans as of 2021.

Huntington’s roots date back to the 1860s, when founder P.W. Huntington opened a single branch in downtown Columbus, Ohio. Over the following century, the bank acquired several hometown rivals, eventually becoming the dominant retail bank in central Ohio.

The 1960s and 1970s saw steady expansion across Huntington’s home state, then beyond. By the turn of the century, Huntington had hundreds of branches across the Midwest, and its 2020 merger with Detroit-based TCF Bank established it one of the region’s dominant financial institutions.

Where Did We Get This Data?

Asset value, domestic asset share, and headquarters location all come from the Federal Reserve. Specifically, from the Federal Reserve’s list of large commercial banks with more than $300 million in consolidated assets as of June 30, 2022.

The Federal Reserve updates this list periodically. Currently, there are 2,116 U.S.-based commercial banks with more than $300 million in assets.

Founding date and CEO name come from other public domain sources, like bank websites.

Final Word

The biggest 15 U.S.-based banks hold a disproportionate share of the country’s total bank deposits, but they’re not the only places to stash your hard-earned dollars.

There are more than 2,000 banks in the United States with $300 million or more in assets. Thousands of smaller community banks and credit unions are worth checking out too.

In fact, while the biggest banks might offer unusually wide ranges of banking products, they tend to charge higher account fees and pay lower interest rates on deposits than smaller banks and credit unions.

Those lesser-known institutions need to stand out to earn your business. They can’t trade on name alone.

So before you rush out to open an account with JPMorgan Chase or Citibank, see what your local community bank or credit union can do for you. You might be pleasantly surprised.

Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.