Largest Banks in USA
The banking system of the United States is regulated at both the Central and State levels and unlike most countries the United States maintains separate regulatory agencies for securities, commodities, and insurance at the central and state levels. The Federal Reserve system was established in the year 1913 as the central banking system of the United States. According to the Federal Financial Institutions Examination Council, there are 4,071 commercial banks and 574 savings and loan associations in the United States at present. The following table shows the list of the top 100 banks in the United States, in the order of the Total Assets as on 30 th September 2023:
Top 100 Largest Banks in USA
Rank |
Bank name |
Headquarters |
Total Assets |
Market Capitalization |
---|---|---|---|---|
1 |
JPMorgan Chase |
New York City |
$3,868 |
$431.38 |
2 |
Bank of America |
Charlotte |
$3,153 |
$230.33 |
3 |
BNP Paribas |
New York City |
2,891.52 |
$69.90 |
4 |
Citigroup |
New York City |
$2,423 |
$84.56 |
5 |
Santander Bank |
Boston |
$1,941.450 |
$64.30 |
6 |
Barclays |
New York City |
$1,940.3 |
$25.25 |
7 |
Wells Fargo |
San Francisco |
$1,876 |
$158.18 |
8 |
Goldman Sachs |
New York City |
$1,577 |
$110.42 |
9 |
TD Bank, N.A |
Cherry Hill, New Jersey |
$1,413.985 |
$110.60 |
10 |
Morgan Stanley |
New York City |
$1,164 |
$128.10 |
11 |
BMO USA |
Chicago |
$942.23 |
$57.98 |
12 |
CIBC Bank USA |
Chicago |
$711.64 |
$35.88 |
13 |
U.S. Bancorp |
Minneapolis |
$668.04 |
$56.60 |
14 |
Credit Suisse |
New York City |
$575.18 |
$3.56 |
15 |
PNC Financial Services |
Pittsburgh |
$558.20 |
$49.08 |
16 |
Truist Financial |
Charlotte |
$554 |
$41.69 |
17 |
Charles Schwab Corporation |
Westlake, Texas |
$475.20 |
$100.50 |
18 |
Capital One |
McLean, Virginia |
$471.435 |
$41.13 |
19 |
The Bank of New York Mellon |
New York City |
$405.24 |
$35.95 |
20 |
State Street Corporation |
Boston |
$284.41 |
$21.43 |
21 |
MUFG Americas Holdings Corporation |
New York City |
$267.6 |
$106.13 |
22 |
American Express |
New York City |
$250.58 |
$114.80 |
23 |
Citizens Financial Group Providence |
Rhode Island |
$225.3 |
$11.632 |
24 |
HSBC Bank USA |
New York City |
$223 |
$117.85 |
25 |
First Citizens BancShares |
Raleigh, North Carolina |
$213.76 |
$20.16 |
26 |
Fifth Third Bank |
Cincinnati |
$212.97 |
$17.09 |
27 |
M&T Bank Buffalo |
New York |
$209.12 |
$19.46 |
28 |
USAA |
San Antonio |
$200 |
– |
29 |
Sumitomo Mitsui Banking Corporation |
New York City |
$196.5 |
$65.23 |
30 |
Ally Financial |
Detroit |
$195.70 |
$8.32 |
31 |
KeyCorp |
Cleveland |
$187.8 |
$11.24 |
32 |
Huntington Bancshares |
Columbus, Ohio |
$186.65 |
$15.77 |
33 |
Mizuho Financial Group |
New York City |
$183.8 |
$43.66 |
34 |
Ameriprise |
Minneapolis |
$175 |
$34.90 |
35 |
Regions Financial Corporation |
Birmingham, Alabama |
$153.62 |
$14.95 |
36 |
RBC Bank |
Toronto |
$147 |
$128.80 |
37 |
Northern Trust |
Chicago |
$146.3 |
$15.39 |
38 |
Deutsche Bank |
New York City |
$143.5 |
$23.38 |
39 |
Discover Financial |
Riverwoods, Illinois |
$143.43 |
$21..46 |
40 |
Synchrony Financial |
Stamford, Connecticut |
$112.93 |
$12.62 |
41 |
New York Community Bank |
Hicksville, New York |
$111.23 |
$6.65 |
42 |
UBS |
New York City |
$110.23 |
$71.44 |
43 |
John Deere |
Reno, Nevada |
$103.39 |
$107.89 |
44 |
Comerica |
Dallas |
$85.70 |
$5.87 |
45 |
First Horizon National Corporation |
Memphis, Tennessee |
$82.53 |
$6.97 |
46 |
Raymond James Financial |
St. Petersburg, Florida |
$77.63 |
$21.63 |
47 |
Webster Bank |
Stamford, Connecticut |
$73.13 |
$7.37 |
48 |
Western Alliance Bancorporation |
Phoenix, Arizona |
$70.89 |
$5.26 |
49 |
Popular, Inc. |
Puerto Rico |
$69.73 |
$5.20 |
50 |
East West Bank |
Pasadena, California |
$68.28 |
$8.48 |
51 |
Valley National Bank |
Wayne, New Jersey |
$61.18 |
$4.36 |
52 |
Synovus |
Columbus, Georgia |
$59.34 |
$4.32 |
53 |
Wintrust Financial |
Rosemont, Illinois |
$55.55 |
$5.06 |
54 |
Columbia Bank |
Tacoma, Washington |
$51.98 |
$4.72 |
55 |
Old National Bank |
Evansville, Indiana |
$49.05 |
$4.34 |
56 |
BOK Financial Corporation |
Tulsa, Oklahoma |
$48.93 |
$4.73 |
57 |
Cullen/Frost Bankers, Inc. |
San Antonio |
$48.74 |
$6.32 |
58 |
Pinnacle Financial Partners |
Nashville, Tennessee |
$47.52 |
$5.50 |
59 |
FNB Corporation |
Pittsburgh |
$45.49 |
$4.23 |
60 |
South State Bank |
Winter Haven, Florida |
$44.98 |
$5.68 |
61 |
Associated Banc-Corp |
Green Bay |
$41.63 |
$2.71 |
62 |
UMB Financial Corporation |
Kansas City, Missouri |
$41.46 |
$3.51 |
63 |
Prosperity Bancshares |
Houston |
$39.29 |
$5.51 |
64 |
Stifel |
St. Louis |
$37.87 |
$6.24 |
65 |
PacWest Bancorp |
Los Angeles |
$36.87 |
$0.97 |
66 |
Hancock |
Whitney Gulfport, Mississippi |
$36.29 |
$3.50 |
67 |
MidFirst Bank |
Oklahoma City |
$36 |
$3.66 |
68 |
TIAA |
New York City |
$36 |
$4.55 |
69 |
BankUnited |
Miami Lakes, Florida |
$35.38 |
$1.87 |
70 |
Commerce Bancshares |
Kansas City, Missouri |
$31.37 |
$6.06 |
71 |
First Interstate BancSystem |
Billings, Montana |
$30.54 |
$2.68 |
72 |
Texas Capital Bank |
Dallas |
$29.62 |
$2.73 |
73 |
United Bank (West Virginia) |
Charleston, West Virginia |
$29.22 |
$4.41 |
74 |
First National of Nebraska |
Omaha, Nebraska |
$29 |
$3.39 |
75 |
FirstBank Holding Co |
Lakewood, Colorado |
$28 |
NA |
76 |
Glacier Bancorp |
Kalispell, Montana |
$28.06 |
$3.76 |
77 |
SoFi |
San Francisco |
$27.97 |
$7.17 |
78 |
Simmons Bank |
Pine Bluff, Arkansas |
$27.56 |
$2.04 |
79 |
Fulton Financial Corporation |
Lancaster, Pennsylvania |
$27.38 |
$2.31 |
80 |
Arvest Bank |
Bentonville, Arkansas |
$27 |
NA |
81 |
United Community Bank |
Greenville, South Carolina |
$26.86 |
$2.95 |
82 |
Beal Bank |
Plano, Texas |
$26.1 |
$3.0 |
83 |
BCI Financial Group |
Miami |
$26 |
NA |
84 |
Ameris Bancorp |
Atlanta |
$25.69 |
$2.96 |
85 |
First Hawaiian Bank |
Honolulu |
$24.91 |
$2.48 |
86 |
Bank of Hawaii |
Honolulu |
$23.54 |
$2.25 |
87 |
Cathay Bank |
Los Angele |
$22.84 |
$2.72 |
88 |
Washington Federal |
Seattle |
$22 |
$1.98 |
89 |
Home BancShares |
Conway, Arkansas |
$21.95 |
$4.44 |
90 |
Customers Bancorp |
Wyomissing, Pennsylvania |
$21.85 |
$1.33 |
91 |
Eastern Bank |
Boston |
$21.14 |
$2.21 |
92 |
Axos Financial |
Las Vegas |
$20.82 |
$2.64 |
93 |
Atlantic Union Bank |
Richmond, Virginia |
$20.73 |
$2.40 |
94 |
Pacific Premier |
Bancorp Irvine, California |
$20.27 |
$2.14 |
95 |
Heartland Financial USA |
Dubuque, Iowa |
$20 .12 |
$1.31 |
96 |
Hope Bancorp |
Los Angeles |
$20.07 |
$1.19 |
97 |
WSFS Bank |
Wilmington, Delaware |
$20.04 |
$2.55 |
98 |
Independent Bank |
Rockland, Massachusetts |
$19.36 |
$2.47 |
99 |
Central Bancompany |
Jefferson City, Missouri |
$18 |
$3.16 |
100 |
First BanCorp |
San Juan, Puerto Rico |
$11.97 |
$1.33 |
References:
1. https://en.wikipedia.org/wiki/List_of_largest_banks_in_the_United_States
2. https://companiesmarketcap.com/
3. Financial Statements of all the banks.
Top 10 Market Leader on the basis of Asset Valution
JP Morgan Chase leads the market by owning total asset worth 3,868 billion US$. Bank of America maintains the 2nd Rank, however BNP Paribas beats the Citigroup and won the 3rd position by increasing the value of asset to 2,891.52 billion US$. Goldman Sachs lost the 5th position to Santander Bank and Barclays enjoys new position at 6th rank. Morgan Stanley degraded to 10th rank from 6th position at the end of 3rd quarter’2023.
Top 10 Banks Ranked as per Market Capitalization
JPMorgan Chase leads the banking industry in USA in this regard by increasing it’s market capitalization from 430.97 billion US$ to 431.38 billion US$. Bank of America is the bank with second largest market capitalization of 230.33 Billion US$. Wells Fargo enjoys the 3rd position (158.18 US$) and there is a cut throat competition between Morgan Stanley (128.10 billion US$) and RBC Bank (128.80 billion US$) for the next position. HSBC Bank hols the 6th position in the list with market capitalization worth 117.85 billion US$. Next is American Express to hold 7th rank for the value of 114.80 billion US$. Again there is a steep competition between TD Bank, N.A (110.60 billion US$) and Goldman Sachs (110.42 billion US$). John Deere holds the 10th rank for 107.89 billion US$ in this regard.
Top 10 Banks of USA on the Basis of thier Overall Performance
- JPMorgan Chase
- Bank of America
- Citigroups
- Wells Fargo
- U.S Bancorp
- Truist Financial
- PNC Financial Services
- Goldman Sachs
- Capital One
- TD Bank, N.A
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