Which Bank is the Largest in the US?
The largest bank in the U.S. is JP Morgan Chase & Co. with $ 2.74 trillion in assets (Jan 2019).
The bank with the most branches in the U.S. is Wells Fargo & Co. with 5,585 branches in the U.S. and 12 branches overseas. JP Morgan has the next largest network of branches – 5,034 in the U.S. and 33 branches overseas.
The top 10 largest commercial banks in the U.S. as per Federal Reserve (Mar 2019) are:
1. JP Morgan Chase & Co.
Assets: $ 2.74 trillion
Revenue: $131.41 billion
Branches – Domestic: 5,034
Branches – Overseas: 33
JPMorgan Chase Bank N.A. is headquartered in Manhattan, New York, offering investment services, wealth planning, credit, and banking products and services. The bank offers investment services for building businesses; lending strategy and banking assistance services; and wealth management services to individuals and families. JPMorgan Chase Bank, N.A. New York Branch operates as a subsidiary of JPMorgan Chase Bank, National Association.
2. Bank of America Corp
Assets: $ 2.38 trillion
Revenue: $110.58 billion
Branches – Domestic: 4,339
Branches – Overseas: 27
Headquartered in Charlotte, North Carolina, Bank of America Corporation is the second largest bank in the U.S. by asset value. The bank offers business banking, global commercial banking services, global corporate and investment banking to large businesses; banking and investment services to small and medium businesses; and retail banking and wealth management services through Merrill Lynch Wealth Management. The company also offers securities brokerage, mortgage lending, and investment banking.
3. Wells Fargo & Co.
Assets: $1.89 trillion
Revenue: $101.06 billion
Branches – Domestic: 5,585
Branches – Overseas: 12
Wells Fargo & Company is the third largest bank in the United States by asset value. The bank offers diversified services in financial, banking, investments, insurance, mortgage, leasing, consumer finance, and credit cards. The bank operates through the largest network of branches in the U.S.
4. Citigroup Inc.
Assets: $1.96 trillion
Revenue: $97.12 billion
Branches – Domestic: 702
Branches – Overseas: 172
Citigroup serves over 100 million customers spread across 19 countries. A global leader in credit cards, wealth management, and commercial banking, Citigroup was the first to launch a mobile app. Its institutional business operates trading floors in 77 countries, clearing and custody networks in 66 markets, and maintains connections with 400 clearing systems.
5. US Bank National Association
Assets: $ 459.47 billion
Revenue: $22.64 billion
Branches – Domestic: 3,048
Branches – Overseas: 1
The U.S. Bank National Association was originally founded in Oregon, but was sold and is headquartered in Minnesota, and is the nation’s fifth largest bank. The company’s major business focus is on consumer and business banking, commercial and corporate banking, wealth management and investment services, and payment services.
6. PNC Financial Services Group Inc.
Assets: $380.77 billion
Revenue: $16.33 billion
Net Income: $5.38 billion
Branches – Domestic: 2,416
Branches – Overseas: 2
PNC operates in 19 states and the District of Colombia, offering retail banking services to 8 million individuals and small businesses; credit cards and personal loans; management services in wealth and institutional assets; and corporate and institutional services to mid-market clients.
7. Capital One N.A.
Assets: $372.53 billion
Revenue: $28.07 billion
Branches – Domestic: 537
Branches – Overseas: 0
Capital One headquartered in McLean, Virginia, offers consumers, small businesses, and corporate clients a broad spectrum of financial services in the United States. The company offers loans in automotive, healthcare and personal finance.
8. TD Group U.S Holdings LLC
Assets: $384.07 billion
Revenue: $8.06 billion (US retail)
Branches – Domestic: 1,241
Branches – Overseas: 0
The company has its headquarters in Cherry Hill, New Jersey and operates from 1,241 branches in the U.S. The company operates as a bank holding company offering banking and financial services to 9 million customers located across the United States.
9. Bank of New York Mellon Group
Assets: $362.87 billion
Revenue: $16.39 billion
Branches – Domestic: 2
Branches – Overseas: 15
In 2007, BNY Mellon was formed merging The Bank of New York with Mellon Financial Corporation. Based out of New York, it is the world’s largest asset servicing company and custodian bank.
10. State Street Corp
Assets: $244.63 billion
Revenue: $11.98 billion
Branches – Domestic: 2
Branches – Overseas: 11
State Street Corp is a Boston-based financial holding company focused on investment management and investment servicing. The company operates in 100 overseas markets and offers a diverse portfolio of services.
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