Explore the largest banks in the United States ranked by total assets. Understanding which banks dominate the industry matters whether you’re choosing where to open an account, evaluating the stability of your current bank, or just curious about the financial giants that shape the American economy.
20 Largest US Banks by Assets
Total assets are the primary measure of bank size, encompassing everything a bank owns: loans, investments, cash, real estate, and securities. The top four banks — known as the “Big Four” — control roughly $11.4 trillion in combined assets, dwarfing the rest of the industry.
Data as of Q4 2025. Assets in billions.
| Rank | Bank | Total Assets | Headquarters |
|---|---|---|---|
| 1 | JPMorgan Chase | $3,900B | New York, NY |
| 2 | Bank of America | $3,200B | Charlotte, NC |
| 3 | Citigroup | $2,400B | New York, NY |
| 4 | Wells Fargo | $1,900B | San Francisco, CA |
| 5 | Goldman Sachs | $1,600B | New York, NY |
| 6 | Morgan Stanley | $1,200B | New York, NY |
| 7 | US Bancorp | $680B | Minneapolis, MN |
| 8 | PNC Financial | $560B | Pittsburgh, PA |
| 9 | Truist | $535B | Charlotte, NC |
| 10 | Charles Schwab | $480B | Westlake, TX |
| 11 | TD Bank (US) | $430B | Cherry Hill, NJ |
| 12 | Capital One | $425B | McLean, VA |
| 13 | Bank of New York Mellon | $400B | New York, NY |
| 14 | State Street | $300B | Boston, MA |
| 15 | Fifth Third Bank | $215B | Cincinnati, OH |
| 16 | Citizens Financial | $210B | Providence, RI |
| 17 | M&T Bank | $200B | Buffalo, NY |
| 18 | KeyCorp | $190B | Cleveland, OH |
| 19 | Regions Financial | $155B | Birmingham, AL |
| 20 | Huntington National | $195B | Columbus, OH |
The concentration of power is striking: The top 4 banks hold more assets than the remaining 4,000+ US banks combined. JPMorgan Chase alone holds nearly as much as banks #7 through #20 put together.
For most consumers, the practical question is whether to bank with one of these giants or a smaller regional bank. See our Chase vs Bank of America comparison if you’re deciding between the two largest.
Big Four Comparison
The “Big Four” US banks — JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup — serve roughly half of all US households. Each has distinct strengths and weaknesses:
| Feature | JPMorgan | Bank of America | Wells Fargo | Citi |
|---|---|---|---|---|
| Assets | $3.9T | $3.2T | $1.9T | $2.4T |
| Deposits | $2.4T | $1.9T | $1.4T | $1.3T |
| Branches | 4,700 | 3,800 | 4,500 | 650* |
| Employees | 300K | 213K | 234K | 240K |
| Founded | 1799 | 1904 | 1852 | 1812 |
*US consumer branches only
Key differences: JPMorgan and Bank of America have the most extensive branch networks, while Citi has shifted toward a primarily digital model with limited US retail presence. Wells Fargo is working to rebuild trust after various scandals but still maintains one of the largest branch footprints.
Each bank has minimum balance requirements to avoid monthly fees — typically $300-$1,500 for checking accounts. See our guides on Chase minimum balance, Bank of America minimum balance, and Wells Fargo minimum balance for details.
Banks by Number of Branches
Branch count matters if you prefer in-person banking or need frequent access to cash and services. The biggest banks have been closing branches in recent years — down about 20% since 2019 — but still maintain thousands of locations nationwide.
| Rank | Bank | US Branches | States |
|---|---|---|---|
| 1 | JPMorgan Chase | ~4,700 | 48 |
| 2 | Wells Fargo | ~4,500 | 36 |
| 3 | Bank of America | ~3,800 | 38 |
| 4 | US Bank | ~2,300 | 26 |
| 5 | PNC | ~2,200 | 29 |
| 6 | Truist | ~2,000 | 17 |
| 7 | TD Bank | ~1,150 | 15 |
| 8 | Regions | ~1,250 | 15 |
| 9 | KeyBank | ~950 | 15 |
| 10 | Huntington | ~900 | 11 |
Regional coverage varies significantly. JPMorgan operates in 48 states, while Regions (ranked #9 by branches) operates in just 15 states, primarily in the South. If you move frequently or travel often, a bank with broader national coverage may serve you better.
For those who don’t need branches, online banks often offer higher interest rates and lower fees.
Banks by Total Deposits
Deposits represent the money customers have entrusted to the bank through checking, savings, CDs, and money market accounts. Higher deposits generally indicate consumer trust and provide the bank with funds to lend.
| Rank | Bank | Total Deposits |
|---|---|---|
| 1 | JPMorgan Chase | $2.4 trillion |
| 2 | Bank of America | $1.9 trillion |
| 3 | Wells Fargo | $1.4 trillion |
| 4 | Citigroup | $1.3 trillion |
| 5 | US Bancorp | $525 billion |
| 6 | PNC | $435 billion |
| 7 | Truist | $415 billion |
| 8 | Capital One | $365 billion |
| 9 | TD Bank (US) | $340 billion |
| 10 | Goldman Sachs | $330 billion |
Interesting note: Goldman Sachs (#10 in deposits) has no physical branches for retail customers. Its consumer deposits come entirely through Marcus, its high-yield savings account platform. This shows how dramatically the industry is shifting toward digital banking.
Largest Online-Only Banks
Online banks operate without physical branches, passing cost savings to customers through higher savings account interest rates and fewer fees. Some are standalone companies; others are digital divisions of larger institutions.
| Bank | Total Deposits | Parent Company |
|---|---|---|
| Ally Bank | $155B | Ally Financial |
| Discover Bank | $95B | Discover Financial |
| Marcus | $110B | Goldman Sachs |
| Synchrony Bank | $80B | Synchrony Financial |
| Capital One 360 | Included above | Capital One |
Why online banks offer better rates: Without branches to maintain, online banks have significantly lower overhead costs. Ally Bank, for example, consistently offers savings rates 3-4x higher than the Big Four. Compare options in our Ally vs Marcus and Ally vs Discover reviews.
Largest Credit Unions
Credit unions are member-owned nonprofit cooperatives — a fundamentally different model than banks. Because they’re not maximizing shareholder profits, credit unions often offer better rates on savings and loans. The largest credit unions rival mid-sized regional banks in total assets.
| Rank | Credit Union | Assets | Members |
|---|---|---|---|
| 1 | Navy Federal | $175B | 14M |
| 2 | State Employees’ CU | $58B | 2.8M |
| 3 | Pentagon Federal | $37B | 2.9M |
| 4 | Boeing Employees | $26B | 1.3M |
| 5 | SchoolsFirst FCU | $29B | 1.3M |
Credit union vs bank: Navy Federal, the largest credit union, has more assets than many banks on our top-20 list. Credit unions typically offer better CD rates, lower loan rates, and fewer fees — but may have limited branch access and technology. See our full banks vs credit unions comparison.
Military families should also see our Navy Federal vs USAA comparison — both serve the military community with different strengths.
Bank Consolidation Over Time
The US banking industry has been consolidating for decades. Through mergers, acquisitions, and bank failures, the number of FDIC-insured institutions has dropped by more than 70% since 1980.
| Year | Number of FDIC Banks | Change |
|---|---|---|
| 2024 | ~4,100 | — |
| 2020 | 4,377 | — |
| 2015 | 5,309 | — |
| 2010 | 6,529 | — |
| 2005 | 7,526 | — |
| 2000 | 8,315 | — |
| 1990 | 12,343 | — |
| 1980 | 14,434 | — |
Trend: Industry is consolidating through mergers and acquisitions.
Why this matters for consumers: Fewer banks means less competition, which can lead to lower savings rates, higher fees, and reduced service. However, consolidation also creates more stable institutions with better technology and wider ATM networks. The 2023 banking crisis that saw Silicon Valley Bank and First Republic fail accelerated this trend.
Recent Major Bank Mergers
Mega-mergers have reshaped the banking landscape. The 2021 BB&T-SunTrust merger created Truist, now the 9th largest bank. JPMorgan’s acquisition of First Republic in 2023 made the biggest bank even bigger.
| Year | Merger | Combined Assets |
|---|---|---|
| 2023 | First Republic → JPMorgan | Absorbed into #1 |
| 2022 | MUFG acquired US Bancorp stakes | — |
| 2021 | BB&T + SunTrust → Truist | $535B |
| 2019 | BB&T + SunTrust announced | — |
| 2019 | Charles Schwab + TD Ameritrade | — |
The SVB and First Republic failures of 2023 triggered a wave of acquisitions. JPMorgan acquired First Republic’s assets, further cementing its position as the nation’s largest bank. Regulators have signaled they’ll scrutinize future mega-mergers more closely.
Global Comparison
US banks are massive, but they’re not the world’s largest. Chinese state-owned banks dwarf even JPMorgan, with the Industrial and Commercial Bank of China holding over $6 trillion in assets.
US banks in global context (by assets):
| Rank | Bank | Country | Assets |
|---|---|---|---|
| 1 | Industrial & Commercial Bank of China | China | $6.1T |
| 2 | China Construction Bank | China | $5.0T |
| 3 | Agricultural Bank of China | China | $4.9T |
| 4 | Bank of China | China | $4.3T |
| 5 | JPMorgan Chase | USA | $3.9T |
| 6 | Bank of America | USA | $3.2T |
| 7 | HSBC | UK | $2.9T |
| 8 | BNP Paribas | France | $2.8T |
| 9 | Citigroup | USA | $2.4T |
Note: The 4 largest banks in the world are Chinese state-owned banks.
What this means: Chinese banks are large partly because they serve a population of 1.4 billion and support state-directed lending. US banks operate in a more competitive, fragmented market. In terms of profitability and global investment banking reach, US banks like JPMorgan and Goldman Sachs remain dominant.
Choosing Between Large Banks
Bigger isn’t always better. While the largest banks offer extensive branch networks and sophisticated mobile apps, they often pay the lowest interest rates and charge the most fees. Here’s how to think about the tradeoffs:
| Factor | Big 4 Advantage | Regional/Online Advantage |
|---|---|---|
| Branch access | More locations | Varies |
| ATM network | Extensive | May reimburse fees |
| Interest rates | Lower savings rates | Usually higher |
| Technology | Well-developed apps | Varies |
| Fees | Often more fees | Often fewer fees |
| Customer service | Variable | Often better |
| Business services | Comprehensive | Limited |
| International | Strong | Limited |
The bottom line on bank choice: If you value branch access, extensive ATM networks, and sophisticated business services, a Big Four bank makes sense. If you want higher interest rates on savings and checking, fewer fees, and better customer service, consider a regional bank, credit union, or online-only bank.
For checking account comparisons, see our best checking accounts guide. For savings, see best high-yield savings accounts.
Too Big to Fail
Eight US banks are designated as “Global Systemically Important Banks” (G-SIBs) — institutions whose failure would pose a serious risk to the entire financial system. These banks face stricter capital requirements, stress tests, and regulatory oversight.
The 8 US banks designated as Global Systemically Important Banks (G-SIBs):
- JPMorgan Chase
- Bank of America
- Citigroup
- Wells Fargo
- Goldman Sachs
- Morgan Stanley
- Bank of New York Mellon
- State Street
These banks face additional capital requirements and regulatory oversight.
What “too big to fail” means for you: During the 2008 financial crisis and the 2023 banking stress, regulators stepped in to prevent these institutions from collapsing. Your deposits at these banks are extremely unlikely to be at risk — though FDIC insurance protects you either way.
FDIC Insurance Reminder
Regardless of bank size, your deposits are protected by FDIC insurance up to $250,000 per depositor, per bank. This federal guarantee has protected depositors since 1933, and no one has ever lost FDIC-insured funds.
| Account Type | Coverage Per Bank |
|---|---|
| Single accounts | $250,000 |
| Joint accounts | $250,000 per owner |
| IRAs/retirement | $250,000 |
| Trust accounts | Varies |
Tip: All 20 largest banks are FDIC insured. Your deposits are protected up to $250,000.
Exceeding FDIC limits: If you have more than $250,000 in deposits, you can increase coverage by spreading funds across multiple banks or using different account ownership types (individual, joint, retirement). Some banks also participate in deposit networks that automatically spread your funds for you.
Related: Best Checking Accounts | Best High-Yield Savings Accounts | Best Online Banks | Banks vs Credit Unions | FDIC Insurance Explained | Chase vs Bank of America
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy