Top 10 Biggest US Banks by Assets

10 Biggest Banks in the USA

In the United States, banking is one of the most important and largest industries. The top 10 banks in the US by assets are JP Morgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley, U.S. Bancorp, TD Bank, PNC Financial Services, and Capital One. These banks hold a total of $16.7 trillion in assets which account for 67% of the country’s GDP.

Read on to learn more about each of these top 10 Biggest US banks by assets:

#1 JP Morgan Chase – $3.2 trillion in assets

JP Morgan Chase is the largest bank in the US with $3.2 trillion in assets. The bank was formed in 2000 when JP Morgan & Co merged with Chase Manhattan Corporation. JP Morgan Chase has more than 5,000 branches and 16,000 ATMs across the country. The bank offers a wide range of financial services including investment banking, asset management, private banking, commercial banking, and retail banking.

#2 Bank of America – $2.4 trillion in assets 

Bank of America is the second largest bank in the US with $2.4 trillion in assets. The bank was formed through a merger between NationsBank and BankAmerica in 1998. Bank of America has more than 4,700 branches and 16,000 ATMs across the country. The bank offers a wide range of financial services including investment banking, asset management, private banking, commercial banking, and retail banking.

#3 Citigroup – $1.9 trillion in assets 

Citigroup is the third largest bank in the US with $1.9 trillion in assets. The bank was formed through a merger between Citicorp and Travelers Group in 1998. Citigroup has more than 200 branches and 930 ATMs across the country. The bank offers a wide range of financial services including investment banking, asset management, private banking, commercial banking, and retail banking.

#4 Wells Fargo – $1.8 trillion in assets 

Wells Fargo is the fourth largest bank in the US with $1.8 trillion in assets. The bank was founded in 1852 and has more than 8,000 branches and 13,000 ATMs across the country. Wells Fargo offers a wide range of financial services including investment banking, asset management, private banking, commercial banking, and retail banking.

#5 Goldman Sachs – $930 billion in assets 

Goldman Sachs is the fifth largest bank in the US with $930 billion in assets under management (AUM). The bank was founded in 1869 and has more than 30 branches across the country. Goldman Sachs offers a wide range of financial services including investment banking, asset management (AUM), private wealth management (PWM), Commercial Banking (CB), and securities services (SS).

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#6  Morgan Stanley – $815 billion in assets 

Morgan Stanley is the sixth largest bank in the US with $815 billion in assets. The bank was founded in 1935 and has more than 600 branches across the country. Morgan Stanley offers a wide range of financial services including investment banking, asset management (AUM), private wealth management (PWM), commercial banking (CB), and securities services (SS).

#7 U.S. Bancorp – $768 billion in assets 

U.S. Bancorp is the seventh largest bank in the US with $768 billion in assets. The bank was founded in 1863 and has more than 5,000 branches and 16,000 ATMs across the country. U.S. Bancorp offers a wide range of financial services including investment banking, asset management (AUM), private wealth management (PWM), commercial banking (CB), and securities services (SS).

#8 TD Bank – $665 billion in assets 

TD Bank is the eighth largest bank in the US with $665 billion in assets. The bank was founded in 1852 and has more than 1,300 branches and 2,500 ATMs across the country. TD Bank offers a wide range of financial services including investment banking, asset management (AUM), private wealth management (PWM), commercial banking (CB), and securities services (SS).

#9 PNC Financial Services Group – $368 billion in assets 

PNC Financial Services Group is the ninth largest bank in the US with $368 billion in assets. The bank was founded in 1845 and has more than 2,500 branches and 8,700 ATMs across the country. PNC Financial Services Group offers a wide range of financial services including investment banking, asset management (AUM), private wealth management (PWM), commercial banking (CB), and securities services (SS).

#10 Bank of New York Mellon – $362 billion in assets 

Bank of New York Mellon is the tenth largest bank in the US with $362 billion in assets. The bank was founded in 1784 and has more than 2,000 branches and 4,400 ATMs across the country. Bank of New York Mellon offers a wide range of financial services including investment banking, asset management (AUM), private wealth management (PWM), commercial banking (CB), and securities services (SS).

 Conclusion: 

The 10 largest banks in the US are JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley, U.S. Bancorp, TD Bank, PNC Financial Services Group, and Bank of New York Mellon.

These banks have a combined total of more than $15 trillion in assets and they offer a wide range of financial services ranging from investment banking to asset management.  With their vast resources, these banks are well-positioned to meet the needs of their customers and continue to play an important role in the US economy.  If you have any questions or feedback, please leave a comment below. Thanks again!