List of Banks in USA
United States of America (USA) is home to thousands of banks and financial institutions. The Federal Reserve with the help of Federal Deposit Insurance Corporation (FDIC) lists out banks and financial institutions based on asset size and bank name. As of 2021, US had 4,844 insured commercial banks and around 574 savings and loan associations. As per Statista Research Department, 4,135 banks are insured under the FDIC report from 2000-2022. This article categorizes banks into different segments: National, International, Community, Investment, Commercial, Online, Regional and the remaining under financial institutions.
Table of Content
- List of National Banks
- List of International Banks
- List of Community Banks
- List of Financial Institutions
- List of Investment Banks
- List of Commercial Banks
- List of Online Banks
- List of Regional Banks
- FAQs
A. List of National Banks
A national bank is a commercial bank that is supervised and chartered by the US treasury. The following national banks list is not exhaustive as there are around 762 national banks across the US, as reported by the Federal Reserve dated 31st October 2023.
Note: The data for total assets and market capitalization are as on 30th September 2023.
Sl. No. |
Name of the Bank |
Headquarters |
Total Assets (in USD Billion) |
Market Capitalization (in USD Billion) |
---|---|---|---|---|
1 |
JP Morgan Chase & Co. |
New York City |
$3,868 |
$431.38 |
2 |
Bank of America |
Charlotte |
$3,123 |
$217.57 |
3 |
Citi Group Inc. |
New York City |
$2,423 |
$84.56 |
4 |
Santander Bank |
Boston |
$1,941.45 |
$64.30 |
5 |
Wells Fargo & Co. |
San Francisco |
$1,876 |
$158.18 |
6 |
Goldman Sachs Group, Inc |
New York City |
$1,577 |
$110.42 |
7 |
TD (Toronto Dominion) Bank |
Cherry Hill, New Jersey |
$1,413.99 |
$110.60 |
8 |
Morgan Stanley |
New York City |
$1,164 |
$128.10 |
9 |
U.S. Bancorp |
Minneapolis, Minnesota |
$668.04 |
$56.60 |
10 |
PNC Financial Services Group |
Pittsburgh |
$558.20 |
$49.08 |
11 |
Truist Financial Corp. |
Charlotte |
$554 |
$41.69 |
12 |
Capital One Financial Corp. |
McLean, Virginia |
$471.44 |
$41.13 |
13 |
Citizens Financial Group |
Providence, Rhode Island |
$225.3 |
$11.63 |
14 |
Fifth Third Bancorp |
Cincinnati |
$212.97 |
$17.09 |
15 |
M&T Bank |
Buffalo, New York |
$209.12 |
$19.46 |
16 |
Ally Financials |
Detroit |
$195.70 |
$8.32 |
17 |
Huntington Bancshares |
Columbus, Ohio |
$186.65 |
$15.77 |
18 |
Regions Financial Corporation |
Birmingham, Alabama |
$153.62 |
$14.95 |
19 |
Discover Financial Services |
Riverwood, Illinois |
$143.43 |
$21.65 |
20 |
Comerica Bank |
Dallas, Texas |
$85.70 |
$5.87 |
B. List of International Banks
International banks are those which conducts banking and investment activities outside their country of origin. In US, there is a hub of international banks which have expanded there business in the States.
Note: The values of total assets and market capitalization are given as per consolidated company financials as on 30th September, 2023.
Sl. No. |
Name of the Bank |
Headquarters in USA |
Total Assets (in USD Billion) |
Market Capitalization (in USD Billion) |
---|---|---|---|---|
1 |
BNP Paribas (USA) |
New York City |
$2,891.52 |
$69.90 |
2 |
Barclays US |
New York City |
$1,940.3 |
$25.25 |
3 |
Société Générale (North America) |
New York City |
$1,689 |
$21.95 |
4 |
ING Bank |
New York City |
$1,118 (as on June 2023) |
$48.98 (as on June 2023) |
5 |
Intesa Sanpaolo |
New York City |
$1,038 (as on June 2023) |
$49.15 (as on June 2023) |
6 |
Bank of Montreal (BMO) |
Chicago, Illinois |
$942.23 |
$57.98 |
7 |
Standard Chartered USA |
New York City |
$825.83 |
$25.2 |
8 |
Credit Suisse Holdings (USA) Inc. |
New York City |
$575.18 |
$3.56 |
9 |
Commerzbank |
New York City |
$538.70 |
$14.13 |
10 |
Charles Schwab Corporation |
Westlake, Texas |
$475.20 |
$100.50 |
11 |
MUFG Americas Holdings Corporation |
New York City |
$267.6 |
$106.13 |
12 |
HSBC Bank USA |
New York City |
$223 |
$117.85 |
13 |
Sumitomo Mitsui Banking Corporation (SMBC) |
New York City |
$196.50 |
$65.23 |
14 |
Mizuho Financial Group |
New York City |
$183.8 |
$43.66 |
15 |
Deutsche Bank |
New York City |
$143.5 |
$23.38 |
16 |
UBS |
New York City |
$110.23 |
$71.44 |
C. List of Community Banks
According to FDIC, a bank falls under community bank if it has asset value of less than $10 billion. Basically, community banks are relationship builders who provide conventional banking services to local people. The FDIC reported on June, 2023, that there are around 4,489 community banks chartered across 50 US states. Below is the list of few of them where the values of total assets and market capitalization have been taken as on 30th September, 2023.
Sl. No. |
Name of the Bank |
Headquarters |
Total Assets (in USD Billion) |
Market Capitalization (in USD Billion) |
---|---|---|---|---|
1 |
New York Community Bank |
Hicksville, New York |
$111.23 |
$6.65 |
2 |
Wintrust Financial |
Rosemont, Illinois |
$55.55 |
$5.06 |
3 |
Columbia Bank |
Tacoma, Washington |
$51.98 |
$4.72 |
4 |
Pinnacle Financial Partners |
Nashville, Tennessee |
$47.52 |
$5.50 |
5 |
PacWest Bancorp (to be merged with Bank of California) |
Los Angeles |
$36.87 |
$0.97 |
6 |
First Interstate BancSystem |
Billings, Montana |
$30.54 |
$2.68 |
7 |
United Community Bank |
Greenville, South Carolina |
$26.86 |
$2.95 |
8 |
Ameris Bancorp |
Atlanta |
$25.69 |
$2.96 |
9 |
First Hawaiian Bank |
Honolulu |
$24.91 |
$2.48 |
10 |
Customers Bancorp |
Wyomissing, Pennsylvania |
$21.85 |
$1.33 |
11 |
Heartland Financial USA |
Dubuque, Iowa |
$20 .12 |
$1.31 |
12 |
Wesbanco Bank |
Wheeling, West Virginia |
$17.34 |
$1.45 |
13 |
First BanCorp |
San Juan, Puerto Rico |
$11.97 |
$1.33 |
14 |
Tri-County Bank |
Chico, California |
$9.8 |
NA |
15 |
Tompkins Community Bank |
Ithaca, New York |
$7.69 |
$0.7 |
16 |
Southern Missouri Bancorp |
Poplar Bluff, Missouri |
$4.47 |
$0.44 |
17 |
First State Community Bank |
Farmington, Missouri |
$3.90 |
NA |
18 |
First Citizens National Bank |
Upper Sandusky, Ohio |
$2.33 (as on June 2023) |
NA |
19 |
Penns Woods Bancorp |
Williamsport, Pennsylvania |
$2.17 |
$0.15 |
20 |
The Peoples State bank |
Wausau, Wisconsin |
$1.36 (as on March 2023) |
NA |
21 |
Pilot Grove Savings bank |
Pilot Grove, Iowa |
$0.81 |
NA |
D. List of Financial Institutions
Other than banks, financial institutions are those which provided financial services not only to retail customers but also to corporations and organizations. Here, a few of the financial institutions reported by FDIC are mentioned. The values presented are dated as on 30th September, 2023.
Sl. No. |
Name of the Bank |
Headquarters |
Total Assets (in USD Billion) |
Market Capitalization (in USD Billion) |
---|---|---|---|---|
1 |
State Street Corporation |
Boston |
$284.41 |
$21.43 |
2 |
American Express |
New York City |
$250.58 |
$114.80 |
3 |
Citizens Financial Group |
Providence, Rhode Island |
$225.27 |
$11.63 |
4 |
USAA (United Services Automobile Association) |
San Antonio, Texas |
$200 |
NA |
5 |
Ameriprise Financial |
Minneapolis |
$175 |
$34.90 |
6 |
RBC (Royal Bank of Canada) Bank |
Toronto |
$147 |
$128.80 |
7 |
Northern Trust |
Chicago |
$146.3 |
$15.39 |
8 |
Synchrony Financial |
Stamford, Connecticut |
$112.93 |
$12.62 |
9 |
John Deere Agricultural Bank |
Reno, Nevada |
$103.39 |
$107.89 |
10 |
Visa |
Foster City, California |
$90.49 |
$478.37 |
11 |
First Horizon National Corporation |
Memphis, Tennessee |
$82.53 |
$6.97 |
12 |
Popular, Inc. (Banco Popular de Puerto Rico) |
Puerto Rico |
$69.73 |
$5.20 |
13 |
Synovus Financial Corp. |
Columbus, Georgia |
$59.34 |
$4.32 |
14 |
Cullen/Frost Bankers, Inc. |
San Antonio |
$48.74 |
$6.32 |
15 |
FNB Corporation |
Pittsburgh |
$45.49 |
$4.23 |
16 |
UMB Financial Corporation |
Kansas City, Missouri |
$41.46 |
$3.51 |
17 |
MidFirst Bank |
Oklahoma City |
$36 |
$3.66 |
18 |
TIAA (Teachers Insurance and Annuity Association of America) |
New York City |
$36 |
$4.55 |
19 |
BankUnited |
Miami Lakes, Florida |
$35.38 |
$1.87 |
20 |
First National of Nebraska |
Omaha, Nebraska |
$29 |
$3.39 |
21 |
FirstBank Holding Co |
Lakewood, Colorado |
$28 |
NA |
22 |
BCI Financial Group |
Miami (Earlier Santiago, Chile) |
$26 |
NA |
23 |
Atlantic Union Bank |
Richmond, Virginia |
$20.73 |
$2.40 |
24 |
WSFS Bank |
Wilmington, Delaware |
$20.04 |
$2.55 |
25 |
Cambridge Trust Company |
Cambridge, Massachusetts |
$5.5 (as of June 2023) |
NA |
E. List of Investment Banks
Investment banks are special type of banks which provides services to corporations, governments and institutions to raise funds and perform complicated financial transactions such as IPOs, mergers and stocks investments. There are more than 4,900 investment banks in US of which few of them are listed below.
Note: The values are provided as on 30th September 2023.
Sl. No. |
Name of the Bank |
Headquarters |
Total Assets (in USD Billion) |
Market Capitalization (in USD Billion) |
---|---|---|---|---|
1 |
JP Morgan Chase & Co. |
New York City |
$3,868 |
$431.38 |
2 |
Bank of America Merrill Lynch |
Charlotte |
$3,153 |
$217.57 |
3 |
Citi Group Global Markets |
New York City |
$2,423 |
$84.56 |
4 |
Wells Fargo Securities |
San Francisco |
$1,876 |
$158.18 |
5 |
Goldman Sachs Asset Management |
New York City |
$1,577 |
$110.42 |
6 |
Morgan Stanley |
New York City |
$1,164 |
$128.10 |
7 |
US Bancorp |
Minneapolis, Minnesota |
$668.04 |
$56.60 |
8 |
Credit Suisse |
New York City |
$575.18 |
$3.56 |
9 |
The Bank of New York (BNY) Mellon |
New York City |
$405.24 |
$35.95 |
10 |
Nomura Securities International |
New York City |
$366.55 |
$12.19 |
11 |
UBS Investment Bank |
New York City |
$110.23 |
$71.44 |
12 |
Raymond James Financial |
St. Petersburg, Florida |
$77.63 |
$21.63 |
13 |
Jefferies Financial Group |
New York City |
$56.04 (as on August 2023) |
$8.09 |
14 |
Stifel Financial Corp. |
St. Louis |
$37.87 |
$6.24 |
15 |
Pacific Premier Trust |
Bancorp Irvine, California |
$20.27 |
$2.14 |
16 |
Central Bancompany |
Jefferson City, Missouri |
$18 |
$3.16 |
17 |
Lazard |
New York City |
$4.29 |
$2.69 |
18 |
Evercore Partners |
New York City |
$3.05 (as on June 2023) |
$5.22 |
19 |
Piper Sandler Companies |
Minneapolis, Minnesota |
$1.94 (as on June 2023) |
$2.58 |
20 |
Moelis & Company |
New York City |
$1.01 (as on June 2023) |
$3 |
21 |
TD Cowen Inc. |
New York City |
not available |
$1.10 |
F. List of Commercial Banks
All the banks falls under commercial banking provided they offer services to corporations by accepting deposits, issuing loans and providing solutions to treasury management. As previously mentioned, FDIC have reported 4,135 active commercial banks operating in US as of 2022. Below are few commercial banks having total assets and market capitalization as of 30th September, 2023.
Sl. No. |
Name of the Bank |
Headquarters |
Total Assets (in USD Billion) |
Market Capitalization (in USD Billion) |
---|---|---|---|---|
1 |
CIBC Bank USA |
Chicago, Illinois |
$711.64 |
$35.88 |
2 |
First Citizens BancShares |
Raleigh, North Carolina |
$213.76 |
$20.16 |
3 |
Northern Trust Corporation |
Chicago, Illinois |
$146.3 |
$15.39 |
4 |
Discover Financial Services |
Riverwood, Illinois |
$143.43 |
$21.65 |
5 |
Comerica Bank |
Dallas, Texas |
$85.70 |
$5.87 |
6 |
Webster Bank |
Stamford, Connecticut |
$73.13 |
$7.37 |
7 |
East West Bank |
Pasadena, California |
$68.28 |
$8.48 |
8 |
South State Bank |
Winter Haven, Florida |
$44.98 |
$5.68 |
9 |
Texas Capital Bank |
Dallas |
$29.62 |
$2.73 |
10 |
Beal Bank |
Plano, Texas |
$26.1 |
$3.0 |
11 |
Home BancShares (commonly called Centennial bank) |
Conway, Arkansas |
$21.95 |
$4.44 |
12 |
Eastern Bank |
Boston |
$21.14 |
$2.21 |
13 |
Independent Bank Corp. |
Rockland, Massachusetts |
$19.36 |
$2.47 |
14 |
DSRM National Bank |
Albuquerque, New Mexico |
$0.64 Million (as on June 2023) |
NA |
G. List of Online Banks
Online or e-banking are a new form of banking which operates without a brick-or-mortar office. It operates fully digitally and few banks have opened separate departments for providing digital banking services. Few of those banks have been listed below with values of total assets and market capitalization considering the company as a whole. (dated as on 30th September, 2023)
Sl. No. |
Name of the Bank |
Headquarters |
Total Assets (in USD Billion) |
Market Capitalization (in USD Billion) |
---|---|---|---|---|
1 |
Marcus by Goldman Sachs |
New York City |
$1,577 |
$110.42 |
2 |
Capital One 360 |
Mclean, Virginia |
$471.44 |
$471.44 |
3 |
Ally Bank |
Detroit |
$195.70 |
$8.32 |
4 |
Discover Bank |
Riverwood |
$143.43 |
$21.65 |
5 |
SoFi Bank |
San Francisco |
$27.97 |
$7.17 |
6 |
Simmons Bank |
Pine Bluff, Arkansas |
$27.56 |
$2.04 |
7 |
Axos Bank |
San Diego |
$20.82 |
$2.64 |
8 |
Lending Club Bank (acquired Radius bank) |
San Francisco |
$7.98 (as on December 2022) |
$0.62 |
9 |
NBKC Bank |
Overland Park |
$1.15 |
NA |
10 |
Varo Bank |
Draper, Utah |
$0.52 |
NA |
11 |
Chime Bank |
San Francisco, California |
NA |
NA |
H. List of Regional Banks
As per FDIC definition, regional banks are those which have assets between $10 billion and $100 billion. As the name suggest, regional means operating in a particular area. But recently, this definition does not hold much importance as regional banks are not specific to region, their category is only due to their size and assets. Below 17 of the regional banks operating in US are mentioned but the list is not exhaustive.
Note: The data is as per 30th September, 2023.
Sl. No. |
Name of the Bank |
Headquarters |
Total Assets (in USD Billion) |
Market Capitalization (in USD Billion) |
---|---|---|---|---|
1 |
KeyBank |
Cleveland |
$187.8 |
$11.24 |
2 |
Western Alliance Bancorporation |
Phoenix, Arizona |
$70.89 |
$5.26 |
3 |
Valley National Bank |
Wayne, New Jersey |
$61.18 |
$4.36 |
4 |
Old National Bank |
Evansville, Indiana |
$49.05 |
$4.34 |
5 |
BOK Financial Corporation |
Tulsa, Oklahoma |
$48.93 |
$4.73 |
6 |
Associated Banc-Corp |
Green Bay |
$41.63 |
$2.71 |
7 |
Prosperity Bancshares |
Houston |
$39.29 |
$5.51 |
8 |
Hancock Whitney Bank |
Gulfport, Mississippi |
$36.29 |
$3.50 |
9 |
Commerce Bancshares |
Kansas City, Missouri |
$31.37 |
$6.06 |
10 |
United Bank (West Virginia) |
Charleston, West Virginia |
$29.22 |
$4.41 |
11 |
Glacier Bancorp |
Kalispell, Montana |
$28.06 |
$3.76 |
12 |
Fulton Financial Corporation |
Lancaster, Pennsylvania |
$27.38 |
$2.31 |
13 |
Arvest Bank |
Bentonville, Arkansas |
$27 |
NA |
14 |
Bank of Hawaii |
Honolulu |
$23.54 |
$2.25 |
15 |
Cathay Bank (acquired HSBC Bank USA) |
Chinatown, Los Angeles |
$22.84 |
$2.72 |
16 |
Washington Federal |
Seattle |
$22 |
$1.98 |
17 |
Hope Bancorp |
Los Angeles |
$20.07 |
$1.19 |
References:
1. https://www.federalreserve.gov/releases/lbr/current/
2. https://companiesmarketcap.com/
3. Financial Statements of all the banks.
FAQs
1. Which is the largest bank in the U.S.?
Answer:
Chase, part of JPMorgan Chase & Co., is the largest bank by asset size in the U.S., including all the deposits and savings and other accounts, loans, mortgages and more.
2. Which are the five largest banks in the U.S.?
Answer:
The five largest banks in the United States based on total assets, are JPMorgan Chase & Co., Bank of America, Wells Fargo & Co., Citigroup Inc., and Goldman Sachs Group Inc..
3. What types of banks are there in the US?
Answer:
Commercial banks, savings and loans associations, credit unions, and online banks are the primary types.
4. What services do banks offer?
Answer:
Banks provide various services such as savings and checking accounts, loans, credit cards, investment options, and financial advisory services.
5. How are banks regulated in the US?
Answer:
Banks are regulated by various entities like the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and state banking authorities.
6. What is FDIC insurance?
Answer:
FDIC insurance protects depositors in case a bank fails. It covers up to $250,000 per depositor, per bank, for each account ownership category.
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