Banking industry market share is important to consumers and investors alike. On the one hand, understanding which banks and credit unions do the most business will help guide your search for the right credit card, prepaid card, checking account, etc. Not only can the biggest banks typically afford to offer the best deals, but they’re popular for a reason and you can use the comparison shopping that other consumers have already done to make your search more efficient. On the other hand, banks with a heavy deposit base typically dominate the lending space, while those with significant assets may garner higher valuations.
Market Share of U.S. Banks by Domestic Deposits
- The top 15 banks make up almost three quarters (76.64%) of the deposits for all banks in the U.S.
Top 15 Largest U.S. Banks Based on Total Domestic Deposits
| Rank (2023) | Bank | 2023 Total Deposits in Billions (% Market Share) | 2022 Total Deposits in Billions (% Market Share) | 2021 Total Deposits in Billions (% Market Share) | 2020 Total Deposits in Billions (% Market Share) | 2019 Total Deposits in Billions (% Market Share) | 2018 Total Deposits in Billions (% Market Share) | 2017 Total Deposits in Billions (% Market Share) | 2016 Total Deposits in Billions (% Market Share) | 2015 Total Deposits in Billions (% Market Share) | 2014 Total Deposits in Billions (% Market Share) | 2013 Total Deposits in Billions (% Market Share) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Jpmorgan Chase Bank | $2,068.04 (16.19%) |
$2,128.46 (16.09%) |
$2,011.34 (16.15%) |
$1,706.28 (15.24%) |
$1,311.22 (15.64%) |
$1,274.09 (10.35%) |
$1,270.12 (10.71%) |
$1,155.19 (10.29%) |
$1,069.43 (10.07%) |
$1,032.55 (10.25%) |
$91654.30% (9.82%) |
|
2 |
Bank of America | $1,887.78 (14.78%) |
$1,964.04 (14.85%) |
$1,871.21 (15.03%) |
$1,729.10 (15.44%) |
$1,353.69 (16.15%) |
$1,312.70 (10.67%) |
$1,270.15 (10.71%) |
$1,204.49 (10.73%) |
$1,169.57 (11.02%) |
$1,046.21 (10.39%) |
$101908.40% (10.92%) |
|
3 |
Wells Fargo Bank | $1,376.50 (10.78%) |
$1,442.03 (10.90%) |
$1,465.95 (11.77%) |
$1,464.91 (13.08%) |
$1,291.14 (15.40%) |
$1,270.00 (10.32%) |
$1,237.79 (10.44%) |
$1,145.30 (10.20%) |
$1,086.29 (10.23%) |
$1,033.62 (10.26%) |
$92416.20% (9.90%) |
|
4 |
Citibank | $757.14 (5.93%) |
$763.31 (5.77%) |
$703.95 (5.65%) |
$664.06 (5.93%) |
$550.78 (6.57%) |
$509.97 (4.14%) |
$504.43 (4.25%) |
$493.07 (4.39%) |
$467.63 (4.41%) |
$465.63 (4.62%) |
$44622.20% (4.78%) |
|
5 |
U.S. Bank National Association | $526.74 (4.12%) |
$455.31 (3.44%) |
$422.77 (3.40%) |
$398.45 (3.56%) |
$342.65 (4.09%) |
$320.95 (2.61%) |
$329.47 (2.78%) |
$298.34 (2.66%) |
$279.55 (2.63%) |
$263.66 (2.62%) |
$23533.97% (2.52%) |
|
6 |
PNC Bank | $434.51 (3.40%) |
$446.68 (3.38%) |
$368.58 (2.96%) |
$338.09 (3.02%) |
$269.41 (3.21%) |
$262.18 (2.13%) |
$257.68 (2.17%) |
$248.45 (2.21%) |
$237.99 (2.24%) |
$221.11 (2.20%) |
$20978.50% (2.25%) |
|
7 |
Truist Bank | $418.24 (3.27%) |
$435.44 (3.29%) |
$412.69 (3.31%) |
$391.22 (3.49%) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
|
8 |
Capital One | $367.82 (2.88%) |
$313.96 (2.37%) |
$306.94 (2.47%) |
$304.25 (2.72%) |
$249.36 (2.97%) |
$233.07 (1.89%) |
$220.75 (1.86%) |
$207.79 (1.85%) |
$195.64 (1.84%) |
$191.20 (1.90%) |
$18804.45% (2.02%) |
|
9 |
Morgan Stanley Bank | $355.58 (2.78%) |
$169.57 (1.28%) |
$152.21 (1.22%) |
$147.73 (1.32%) |
$112.58 (1.34%) |
$117.77 (0.96%) |
$100.03 (0.84%) |
$117.07 (1.04%) |
$110.65 (1.04%) |
$96.36 (0.96%) |
$6606.80% (0.71%) |
|
10 |
Goldman Sachs Bank Usa | $352.20 (2.76%) |
$343.13 (2.59%) |
$282.18 (2.27%) |
$220.73 (1.97%) |
$139.98 (1.67%) |
$127.69 (1.04%) |
$105.89 (0.89%) |
$113.71 (1.01%) |
$77.84 (0.73%) |
$64.63 (0.64%) |
$6538.40% (0.70%) |
|
11 |
Toronto-Dominion Bank | $335.25 (2.62%) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
|
12 |
Charles Schwab Bank | $304.79 (2.39%) |
$389.49 (2.94%) |
$327.41 (2.63%) |
$267.73 (2.39%) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
|
13 |
The Bank of New York Mellon | $221.43 (1.73%) |
$213.70 (1.62%) |
$214.19 (1.72%) |
$191.27 (1.71%) |
$140.98 (1.68%) |
$122.32 (0.99%) |
$126.19 (1.06%) |
$138.08 (1.23%) |
$155.53 (1.47%) |
$144.05 (1.43%) |
$11906.80% (1.28%) |
|
14 |
Bank of Montreal | $202.24 (1.58%) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
N/A (N/A) |
|
15 |
Citizens Bank | $180.71 (1.41%) |
$181.57 (1.37%) |
$153.41 (1.23%) |
$145.79 (1.30%) |
$125.25 (1.49%) |
$90.30 (0.73%) |
$87.91 (0.74%) |
$77.71 (0.69%) |
$73.34 (0.69%) |
$68.76 (0.68%) |
N/A (N/A) |
| Info | TOTAL DOMESTIC DEPOSITS: | $12,773 | $13,228 | $12,451 | $11,198 | $8,384 | $12,308 | $11,860 | $11,230 | $10,615 | $10,072 | $9,332 |
(Source: FDIC, June, 2013 – 2023)
Market Share of U.S. Banks by Assets
- The top 5 institutions make up more than half (57.35%) of the total bank assets in the U.S.
Top 50 Largest Banks and Thrifts in the U.S. Based on Total Assets
| Rank (2023) | Bank | Market share 2023 (%) | Total Assets 2023 (In Billions) |
Total Assets 2022 (In Billions) |
Total Assets 2021 (In Billions) |
Total Assets 2020 (In Billions) |
Total Assets 2019 (In Billions) |
Total Assets 2018 (In Billions) |
Total Assets 2017 (In Billions) |
Total Assets 2016 (In Billions) |
Total Assets 2015 (In Billions) |
Total Assets 2014 (In Billions) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | JPMorgan Chase Bank | 19.46% | $3,395 | $3,202 | $3,307 | $3,025 | $2,338 | $2,219 | $2,141 | $2,083 | $1,915 | $2,075 |
| 2 | Bank of America | 14.56% | $2,540 | $2,419 | $2,520 | $2,259 | $1,853 | $1,783 | $1,752 | $1,677 | $1,639 | $1,574 |
| 3 | Wells Fargo Bank | 9.94% | $1,733 | $1,718 | $1,780 | $1,768 | $1,713 | $1,689 | $1,747 | $1,727 | $1,611 | $1,533 |
| 4 | Citibank | 9.66% | $1,685 | $1,767 | $1,669 | $1,662 | $1,454 | $1,407 | $1,385 | $1,350 | $1,300 | $1,357 |
| 5 | U.S. Bank | 3.73% | $651 | $585 | $564 | $545 | $486 | $459 | $456 | $441 | $417 | $399 |
| 6 | PNC Bank | 3.20% | $557 | $552 | $552 | $463 | $398 | $371 | $370 | $356 | $348 | $335 |
| 7 | Truist Bank | 3.02% | $528 | $546 | $529 | $499 | $461 | N/A | N/A | N/A | N/A | N/A |
| 8 | Goldman Sachs Bank | 2.99% | $521 | $487 | $434 | $272 | $229 | $192 | $165 | $159 | $135 | $118 |
| 9 | Capital One | 2.73% | $476 | $453 | $381 | $364 | $329 | $305 | $291 | $286 | $273 | $255 |
| 10 | TD Bank | 2.11% | $367 | $387 | $424 | $402 | $320 | $303 | $288 | $269 | $246 | N/A |
| 11 | Bank of New York Mellon | 1.91% | $333 | $325 | $356 | $387 | $311 | $286 | $297 | $258 | $319 | $304 |
| 12 | State Street Bank and Trust | 1.68% | $293 | $298 | $311 | $311 | $242 | $242 | $235 | $239 | $241 | $270 |
| 13 | BMO Harris Bank | 1.52% | $266 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 14 | Citizens Bank | 1.27% | $222 | $226 | $188 | $183 | $166 | $129 | $122 | $117 | $108 | $103 |
| 15 | Fifth Third Bank | 1.23% | $214 | $206 | $210 | $203 | $168 | N/A | N/A | N/A | N/A | N/A |
| 16 | First Citizen Bank | 1.22% | $214 | $109 | $58 | $50 | $40 | $35 | $34 | $33 | $31 | N/A |
| 17 | Morgan Stanley Bank | 1.20% | $209 | $201 | $192 | $176 | $147 | $150 | $130 | $129 | $136 | $126 |
| 18 | M&T Bank | 1.19% | $208 | $200 | $155 | $142 | $119 | $120 | $118 | $123 | $122 | $96 |
| 19 | Morgan Stanely Private Bank | 1.17% | $203 | $210 | $155 | $120 | $83 | $75 | $65 | $53 | $42 | $27 |
| 20 | Huntington Bank | 1.08% | $189 | $182 | $173 | $123 | $109 | $109 | $104 | $100 | $71 | $66 |
| 21 | Ally Bank | 1.07% | $186 | $182 | $173 | $172 | $167 | $159 | $137 | $124 | $111 | $104 |
| 22 | KeyBank | 1.07% | $186 | $188 | $184 | $169 | $143 | $138 | $136 | $134 | $93 | $92 |
| 23 | American Express Bank | 1.03% | $180 | $155 | $126 | $133 | $122 | $117 | N/A | N/A | N/A | N/A |
| 24 | HSBC Bank USA | 0.95% | $165 | $162 | $188 | $198 | $173 | $170 | $180 | $197 | N/A | N/A |
| 25 | Regions Bank | 0.87% | $151 | $154 | $162 | $146 | $126 | $125 | $123 | $125 | $125 | $119 |
| 26 | The Northern Trust Company | 0.86% | $150 | $155 | $184 | $170 | $136 | $132 | $138 | $124 | $116 | $110 |
| 27 | Discover Bank | 0.86% | $149 | $129 | $108 | $111 | $112 | $108 | $99 | $91 | $86 | $82 |
| 28 | Flagstar Bank | 0.67% | $116 | $90 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 29 | Santander Bank | 0.58% | $100 | $99 | $102 | $90 | $85 | $77 | $74 | $83 | $90 | $80 |
| 30 | City National Bank | 0.54% | $93 | $97 | $93 | $76 | $61 | $51 | N/A | N/A | N/A | N/A |
| 31 | Zions Bank | 0.50% | $87 | $90 | $93 | $81 | $69 | $69 | N/A | N/A | N/A | N/A |
| 32 | Comerica Bank | 0.49% | $86 | $86 | $95 | $88 | $73 | $71 | $72 | $73 | $72 | $69 |
| 33 | First Horizon Bank | 0.47% | $81 | $79 | $89 | $84 | N/A | N/A | N/A | N/A | N/A | N/A |
| 34 | Webster Bank | 0.43% | $75 | $71 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 35 | Western Alliance Bank | 0.41% | $71 | $68 | $56 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 36 | East West Bank | 0.40% | $69 | $64 | $61 | $52 | $44 | $41 | $37 | $35 | $32 | $29 |
| 37 | Valley National | 0.35% | $61 | $57 | $43 | $41 | $37 | N/A | N/A | N/A | N/A | N/A |
| 38 | Synovus Financial | 0.34% | $60 | $60 | $57 | $54 | $48 | $33 | $31 | $30 | $29 | $27 |
| 39 | CIBC U.S. Bank | 0.31% | $55 | $51 | $48 | $44 | N/A | N/A | N/A | N/A | N/A | N/A |
| 40 | UMPQUA Bank | 0.30% | $52 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 41 | Frost Bank | 0.29% | $51 | $53 | $51 | $42 | $34 | N/A | $32 | $30 | $29 | $28 |
| 42 | BOK Financial | 0.28% | $50 | $48 | $50 | $46 | $42 | $34 | $32 | $32 | $31 | $29 |
| 43 | Cadence Bank | 0.28% | $49 | $49 | $48 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 44 | Old National Bank | 0.28% | $49 | $46 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 45 | Pinnacle Bank | 0.27% | $48 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 46 | First Natioonal Bank | 0.26% | $46 | $44 | N/A | N/A | $35 | $33 | $31 | N/A | N/A | N/A |
| 47 | SouthState Bank | 0.26% | $45 | $44 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 48 | UMB Bank | 0.25% | $44 | N/A | $42 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 49 | Raymond Bank | 0.24% | $42 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 50 | Barclays Bank | 0.24% | $42 | N/A | N/A | N/A | $34 | $33 | $34 | $33 | N/A | N/A |
| Info | TOTAL DOMESTIC ASSETS: | 100% | $17,442 | $16,393 | $16,011 | $14,750 | $12,508 | $11,262 | $10,587 | $10,510 | $9,769 | $9,407 |
(Source: Federal Reserve 2014-2023)
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