Wondering which banks are the biggest and just how big these giants really are?
The Federal Reserve publishes regular updates on the largest banks in the U.S. by asset size. By familiarizing yourself with these major players, you can better understand the market and make informed decisions about where to bank.
What Is the Most Popular Bank?
Among the 10 largest institutions, a few of the most popular banks include Wells Fargo, Chase, Bank of America and U.S. Bank. The top bank varies by state and can depend on factors such as branch and ATM access, reputation and recognizability. In some areas, small, regional banks are more popular than larger banks, in part because they have more convenient branches
Biggest Banks in America
From Chase Bank to TD Bank, these 10 institutions are the largest banks in the U.S. Read on to learn about each bank and find individual reviews.
1. JPMorgan Chase
JPMorgan Chase, or Chase Bank, is the biggest bank in America with nearly $3.4 trillion in assets. It boasts a vast network of over 4,800 physical branches and more than 15,000 ATMs.
With generous bonuses and promotions and a variety of products, Chase is a popular choice for consumers across the country. In addition to consumer banking, it offers business banking, community banking, investment and asset management services and more.
- Assets: $3.38 trillion
- Total branches: over 4,800
2. Bank of America
Bank of America follows Chase as one of the largest U.S. banks with over $2.4 trillion in assets. It provides extensive banking services to both individuals and businesses with a network of more than 3,700 branches in the U.S., plus a couple of dozen foreign branches.
In addition to full-service banking, Bank of America offers investment and wealth management through Merrill (formerly Merrill Lynch). Bank of America has an edge for those who like the idea of relationship banking, with perks for those who qualify for its Preferred Rewards Program.
- Assets: $2.4 trillion
- Total branches: 3,700+
3. Wells Fargo
Headquartered in San Francisco, Wells Fargo is the fourth largest bank in the U.S. with over $1.7 trillion in assets. It’s a full-service institution offering consumer and commercial banking, mortgage and home equity lending, credit cards, investment banking and wealth management.
Wells Fargo has about 4,400 branches and 12,000 ATMs across the country, making it a prolific U.S. institution that stands out for in-person access.
- Assets: $1.7 trillion
- Total branches: 4,400
4. Citibank
Part of Citigroup, Citibank is a leading global bank providing various financial products and services to clients worldwide. It has over $1.6 trillion in assets with the bulk of this coming from U.S.-based customers but has a somewhat limited network of over 650 domestic branches.
The bank offers a range of services including consumer banking, commercial banking, investment banking and wealth management.
- Assets: $1.6 trillion
- Total branches: 659
5. U.S. Bank
U.S. Bank has over $650 billion in assets, which is significantly less than the four biggest banks—each with over $1 trillion in assets—but enough to earn spot number five. This sizable bank is operated by Minneapolis-based parent company U.S. Bancorp.
U.S. Bank has acquired several smaller banks over the years, growing with each acquisition.
- Assets: $657 billion
- Total branches: 2,300+
6. PNC Bank
PNC Bank, a subsidiary of PNC Financial Services Group, provides comprehensive financial services and solutions to both individuals and businesses. It’s one of the largest U.S. banks with $553 billion in assets but is the most popular bank in only one state: Pennsylvania.
- Assets: $553 billion
- Total branches: 2,400+
7. Goldman Sachs Bank
Goldman Sachs Bank focuses on investment banking services. Its parent company, Goldman Sachs, is headquartered in New York City. Goldman Sachs Bank has over $538 billion in consolidated assets, easily earning it a place as one of the biggest banks in the U.S.
You might have heard of Goldman Sachs’ online banking arm, Marcus by Goldman Sachs. It regularly lands on Forbes Advisor’s Best CD Rates and Best High-Yield Savings Accounts lists.
- Assets: $538 billion
- Total branches: 2
8. Truist Bank
Born of a 2019 merger between BB&T and SunTrust Bank, Truist Bank offers a wide array of banking and financial services. Truist Bank has about $535 billion in assets with a footprint of roughly 2,000 branches concentrated along the East Coast and in the South.
- Assets: $535 billion
- Total branches: 2,000
9. Capital One
Known for credit cards, Capital One has been a household name for many years. It has about $468 billion in assets, held almost entirely in the U.S. Capital One is different from other big banks. It’s a hybrid bank with competitive online-forward accounts and a limited branch network.
- Assets: $468 billion
- Total branches: 280+
10. TD Bank
A subsidiary of Toronto-Dominion Bank, TD Bank is one of the largest U.S. banks with over $366 billion in assets and more than 1,100 branches throughout the East Coast and Northeast. It offers a diverse range of services and stands out for its personalized banking products.
- Assets: $366 billion
- Total branches: 1,100+
The top investment banking companies are typically banks with large market capitalization or market cap. A bank’s market cap is the value of its shares owned by stockholders. Companies with high market caps are typically very powerful since they’re worth a lot of money and play significant roles in the economy.
Top Investment Banks Overseas
The biggest investment banking companies based outside of the United States include:
- HSBC: The largest banking and financial services corporation in Europe, with a market cap exceeding $140 billion
- UBS: A multinational investment banking company considered one of the “bulge bracket” banks
- T.D. Bank: A Canadian-based banking institution offering retail, commercial, and investment banking services
- Barclays: A British multinational banking corporation with a market cap over $34 billion
Final Thoughts
Investment banks primarily help large companies and governments raise capital, so investment banking is inherently a global industry. Some of the world’s largest investment banking companies are not based in the U.S., but these international banks still make up a large portion of the market stateside. We’ve compiled a list of the top investment banks in the U.S. based on market capitalization.