The largest U.S. bank has grown significantly in the years since the Great Depression. The 15 largest banks held total assets of $13.44 trillion as of December 31, 2021.
This exclusive club changes every year. Larger banks swap places with each other, and smaller banks are eliminated and replaced by faster-growing competitors.
Here are the 15 largest U.S. banks by assets, according to the latest Federal Reserve data.
| Rank | Bank name | Total assets | Previous rank |
| 1 | JPMorgan Chase & Co. | $3.31 trillion | 1 |
| 2 | Bank of America Corp. | $2.52 trillion | 2 |
| 3 | Wells Fargo & Co. | $1.78 trillion | 3 |
| 4 | Citigroup Inc. | $1.67 trillion | 4 |
| 5 | U.S. Bancorp | $564.16 billion | 5 |
| 6 | PNC Financial Services Group Inc. | $551.90 billion | 7 |
| 7 | Truist Bank | $528.51 billion | 6 |
| 8 | Goldman Sachs Group Inc. | $434.08 billion | 9 |
| 9 | TD Group US Holdings LLC | $423.65 billion | 8 |
| 10 | Capital One Financial Corp. | $381.30 billion | 11 |
| 11 | Bank of New York Mellon Corp. | $356.23 billion | 10 |
| 12 | State Street Corp. | $311.06 billion | 12 |
| 13 | Fifth Third Bank | $209.70 billion | 13 |
| 14 | Silicon Valley Bank | $208.58 billion | 15 |
| 15 | Morgan Stanley | $191.92 billion | N/A |
1. JPMorgan Chase & Co.
Chase Bank is the consumer banking arm of JPMorgan Chase. Unlike some rivals that have closed stores, Chase is expanding its store network in key markets. It currently has nearly 5,000 branches and 16,000 ATMs. According to Chase, nearly half of the nation’s households are Chase customers. Read Bankrate’s review of Chase Bank.
Assets: $3.31 trillion
Headquarters: New York
2. Bank of America
Bank of America serves approximately 66 million consumer and small business customers worldwide. Like many of the largest banks, it offers powerful digital tools, including a versatile mobile app. Bank of America recently announced that, in line with industry trends, it will eliminate the lack of funds fee (NSF) and reduce overdraft fees. Read Bankrate’s review of Bank of America.
Net worth: $2.52 trillion
Headquarters: Charlotte, North Carolina
3. Wells Fargo
Wells Fargo was founded in 1852. Although the bank focuses on branch consolidation and liquidation, it still has the most branches of any bank in the country. In addition to its main app, Wells Fargo has launched a savings app and a mobile banking app aimed at millennials. After a series of missteps, the bank has rebranded and focused on repairing broken relationships with customers. Read Bankrate’s review of Wells Fargo.
Net worth: $1.78 trillion
Headquarters: San Francisco
4. Citigroup
Citigroup is a global financial services company. Citibank’s retail banking division is located in Sioux Falls, South Dakota. Citibank has about 700 branches in the United States and more than 1,800 branches abroad. US customers also have access to over 65,000 free ATMs. Read Bankrate’s report on Citibank.
Net worth: $1.67 trillion
Headquarters: New York
5. U.S. Bancorp
We, Bancorp, are the US bank holding company and parent company. bank. The fifth largest commercial bank by assets as we know it today began in 1863 as the First National Bank of Cincinnati. Several mergers led to the creation of the bank, which is now known for its extensive branch network and investments in enhancing its digital offerings. Read Bankrate’s report on US banks.
Net worth: $564.16 billion
Headquarters: Minneapolis
6. PNC Financial Services Group Inc.
PNC is a regional bank with operations in parts of the Northeast, South and Midwest. It was registered as a Pittsburgh Trust and Savings Corporation and bought troubled National City Corp in 2008. Headquartered in Cleveland. The deal roughly doubled the size of the bank. Today, the bank has about 2,300 branches.
PNC agreed to acquire BBVA USA for $11.6 billion in November 2020, with the deal closing on June 1. However, the Fed’s latest quarterly report on June 30 still showed BBVA and PNC as separate banks. Once the assets are combined, PNC Bank is expected to become one of the top five banks by assets.
In 2018, PNC began expanding beyond its traditional 19-state markets, primarily east of the Mississippi River and Washington, D.C. The deal with BBVA USA will accelerate this expansion.
Net worth: $551.9 billion
Headquarters: Pittsburgh
7. Truist Financial Corporation
Truist is the merger of BB&T and SunTrust. Truist provides financial services to approximately 10 million consumer households. As of September 30, 2019, BB&T and SunTrust were the 11th and 12th largest banks by assets, respectively, and are now the sixth largest.
Read Bankrate’s report on BB&T and SunTrust.
Net worth: $528.51 billion
Headquarters: Charlotte, North Carolina
8. Goldman Sachs
Goldman Sachs is a global investment banking, management and securities firm. Its customers can access a variety of financial services, including banking products, through its online banking division, Marcus, which debuted in the fall of 2016 and began offering personal loans. Read Bankrate’s review of Goldman Sachs Marcus.
Net worth: $434.08 billion
Headquarters: New York
9. TD Group U.S. Holdings, LLC
TD Bank is the U.S. commercial banking arm of The TD Bank Group of Canada. Customers have access to mortgages, deposit accounts, credit cards, and commercial and small business products. The bank has about 1,300 branches on the east coast. Read Bankrate’s review of TD Bank.
Net worth: $423.65 billion
Headquarters: Cherry Hill, NJ
10. Capital One Financial Corporation
Capital One is a Fortune 500 company whose subsidiaries include Capital One Bank. In addition to branches in East Coast, Texas and Louisiana, bank customers in select cities have access to Capital One cafes, which offer free Wi-Fi, where visitors can open accounts and participate in financial seminars meeting. Read Bankrate’s review of Capital One and its online banking products.
Net worth: $381.3 billion
Headquarters: McLean, Virginia
11. Bank of New York Mellon
When the New York Stock Exchange opened in 1792, the Bank of New York was the first company to trade. Today, BNY Mellon is an investment firm serving a wide variety of corporations and institutions, as well as individual investors. Its wealthy clients have access to private banking services.
Net worth: $356.23 billion
Headquarters: New York
12. State Street Corp.
Founded in 1792, State Street Corporation is a financial services and wealth management firm with approximately 40,000 employees and operations in more than 100 markets around the world. Services include investment research and trading and investment management. Its clients include asset owners, insurance companies and pension funds.
Net worth: $311.06 billion
Headquarters: Boston
13. Fifth Third Bank
Fifth Third Bancorp is the indirect parent company of Fifth Third Bank NA.
Fifth Third has approximately 1,100 offices in Ohio, Florida, Georgia, Kentucky, Illinois, Indiana, Michigan, North Carolina, Tennessee and West Virginia. Read Bankrate’s review of Fifth Third Bank.
Net worth: $209.7 billion
Headquarters: Cincinnati
14. Silicon Valley Bank
Silicon Valley Bank was established in 1983. From June 30, 2021, to September 30, 2021, it grew by about $27 billion, up seven places from 22nd.
Net worth: $208.58 billion
Headquarters: Santa Clara, California
15. Morgan Stanley
Morgan Stanley was founded in 1935. It has offices in more than 41 countries.
Net worth: $191.92 billion
Headquarters: New York
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