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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.
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.
All information is accurate as of Mar. 31, 2023.
1. JPMorgan Chase
JPMorgan Chase, or Chase Bank, is the biggest bank in America with nearly $3.3 trillion in assets. It boasts a vast network of over 4,700 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.
Read our full Chase Bank Review.
2. Bank of America
Bank of America follows Chase as one of the largest U.S. banks with over $2.5 trillion in assets. It provides extensive banking services to both individuals and businesses with a network of more than 3,800 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.
Read our full Bank of America Review.
3. Citibank
Part of Citigroup, Citibank is a leading global bank providing various financial products and services to clients worldwide. It has over $1.7 trillion in assets with the bulk of this coming from U.S.-based customers but has a somewhat limited network of around 660 domestic branches.
The bank offers a range of services including consumer banking, commercial banking, investment banking and wealth management.
Read our full Citibank Review.
4. Wells Fargo
Headquartered in San Francisco, Wells Fargo is the fourth largest bank in the U.S. with nearly $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 4,600 branches and 12,000 ATMs across the country, making it a prolific U.S. institution that stands out for in-person access.
Read our full Wells Fargo Review.
5. U.S. Bank
U.S. Bank has around $590 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.
Read our full U.S. Bank Review.
6. 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 $565 billion in assets with a footprint of roughly 2,000 branches concentrated along the East Coast and in the South.
Read our full Truist Bank Review.
7. 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 $556 billion in assets but is the most popular bank in only one state: Pennsylvania.
Read our full PNC Bank Review.
8. 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 $490 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.
Read our full Marcus By Goldman Sachs Review.
9. Capital One
Known for credit cards, Capital One has been a household name for many years. It has about $469 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.
Read our full Capital One 360 Banking Review.
10. TD Bank
A subsidiary of Toronto-Dominion Bank, TD Bank is one of the largest U.S. banks with over $401 billion in assets and more than 1,000 branches throughout the East Coast and Northeast. It offers a diverse range of services and stands out for its personalized banking products
Read our full TD Bank Review.
Summary of the Largest Banks in the U.S.
Which Bank Has the Most Branches?
Chase is not only the largest bank by asset size but it also takes the lead with the most domestic branches. It has over 4,700 branches sprinkled across the lower 48 states. Wells Fargo and Bank of America follow closely behind, with over 4,600 and 3,800 branches, respectively.
Because these banks have a nationwide presence, there’s a good chance there’s a branch or ATM in your area.
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.
What Is the Richest Bank in America?
JPMorgan Chase is the richest bank in the U.S., based on Federal Reserve data for consolidated assets. It has over $3 trillion in total assets, more than any bank in the country.
Total assets include everything a bank owns, from loans and investments to physical assets like buildings and equipment. JPMorgan Chase is also the largest bank by market capitalization, a measure of a company’s value in terms of stock holdings.
Find The Best Online Banks Of 2023
Frequently Asked Questions (FAQs)
Should you choose one of the largest banks in the U.S.?
Size isn’t everything when it comes to banks. The best banks have low fees, competitive interest rates and good customer service, and you can find these things with banks big and small. Some people prefer to bank with large, established institutions and others prefer the high rates and low fees of emerging online banks.
Are large banks safer than small banks?
Both large and small banks are subject to the same regulatory requirements and are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per account ownership category. Therefore, larger banks are not inherently safer than smaller banks.
What are the drawbacks of big banks?
The biggest drawback of big banks is that they can sometimes have high overhead and operating costs. This can translate to more fees and lower interest rates on consumer accounts. Large banks may also have longer processing and customer service wait times, but this depends on the institution.
What are the top five banks in America?
The top five banks in America are JPMorgan Chase, Bank of America, Citibank, Wells Fargo and U.S. Bank. These are the largest U.S. banks by assets and among the largest in the world.
