Largest Banks In The U.S. 2024 – Forbes Advisor
Editorial note: We earn commissions from partner links on Forbes Advisor. Commissions do not influence our editors' opinions or evaluations.
Wondering which banks are the biggest and how big are these giants really?
The Federal Reserve publishes regular updates on America's largest banks by asset size. By becoming familiar with these key players, you can better understand the market and make informed decisions about where to bank.
Summary of the Largest Banks in America
largest banks in america
From Chase Bank to TD Bank, these 10 institutions are the biggest banks in America, read on to learn about each bank and personal reviews.
All information is accurate as of February 8, 2024.
1. JPMorgan Chase
JPMorgan Chase, or Chase Bank, is the largest bank in the US with approximately $3.4 trillion in assets. It has a vast network of over 4,800 physical branches and over 15,000 ATMs.
With generous bonuses and promotions and a wide variety of products, Chase is a popular choice for consumers across the country. Apart from consumer banking, it offers business banking, community banking, investment and asset management services and more.
- Wealth: $3.38 trillion
- Total branches: more than 4,800
Read our full Chase Bank review.
2. Bank of America
Bank of America, with more than $2.4 trillion in assets, is one of the largest US banks after Chase. It provides comprehensive banking services to both individuals and businesses, with a network of more than 3,700 branches in the U.S. in addition to a few dozen foreign branches.
In addition to full-service banking, Bank of America offers investments and wealth management through Merrill (formerly Merrill Lynch). Bank of America has an edge for those who like the idea of relationship banking, as well as perks for those who qualify for its Preferred Rewards program.
- Wealth: $2.4 trillion
- Total Branches: 3,700+
Read our full Bank of America review.
3. Wells Fargo
Wells Fargo, headquartered in San Francisco, is the fourth-largest US bank with more than $1.7 trillion in assets. It is a full-service institution offering consumer and commercial banking, mortgages and home equity loans, credit cards, investment banking and wealth management.
Wells Fargo has approximately 4,400 branches and 12,000 ATMs nationwide, making it a prolific American institution known for personalized accessibility.
- Wealth: $1.7 trillion
- Total branches: 4,400
Read our full Wells Fargo review.
4. Citi Bank
Part of Citigroup, Citibank is a leading global bank that offers a variety of financial products and services to customers around the world. It has more than $1.6 trillion in assets, most of which come from US-based clients, but its network of more than 650 domestic branches is somewhat limited.
The bank offers a range of services including consumer banking, commercial banking, investment banking and wealth management.
- Wealth: $1.6 trillion
- Total Branches: 659
Read our full Citibank review.
5. US Bank
The US bank has more than $650 billion in assets, which is significantly less than the four largest banks – each with more than $1 trillion in assets – but enough to earn the number five spot. The big bank is operated by Minneapolis-based parent company US Bancorp.
US Bank has acquired many smaller banks over the years, growing with each acquisition.
- Wealth: $657 billion
- Total Branches: 2,300+
Read our full US Bank review.
6. PNC Bank
PNC Bank, a subsidiary of PNC Financial Services Group, provides comprehensive financial services and solutions to both individuals and businesses. It is one of the largest US banks with $553 billion in assets, but is the most popular bank in only one state: Pennsylvania.
- Wealth: $553 billion
- Total Branches: 2,400+
Read our full PNC Bank review.
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 consolidated assets of over $538 billion, easily making it one of the largest banks in America.
You may have heard of Marcus by Goldman Sachs, the online banking arm of Goldman Sachs. It regularly appears on Forbes Advisor's lists of best CD rates and best high-yield savings accounts.
- Wealth: $538 billion
- Total Branches: 2
Read our full Marcus by Goldman Sachs review.
8. Truist Bank
Born from the 2019 merger between BB&T and SunTrust Bank, Truist Bank offers a wide range of banking and financial services. Truist Bank has approximately $535 billion in assets and approximately 2,000 branches on the East Coast and in the South.
- Wealth: $535 billion
- Total branches: 2,000
Read our full Truist Bank review.
9. Capital One
Capital One, known for credit cards, has been a household name for many years. It has approximately $468 billion of assets, almost entirely held in U.S. Capital One, independent of other large banks. It is a hybrid bank with competitive online-forward accounts and a limited branch network.
- Wealth: $468 billion
- Total Branches: 280+
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 more than $366 billion in assets and more than 1,100 branches throughout the East Coast and Northeast. It offers a wide variety of services and is known for its personalized banking products.
- Wealth: $366 billion
- Total Branches: 1,100+
Read our full TD Bank review.
Which bank has the most branches?
Chase is not only the largest bank by asset size but it also leads in terms of the most domestic branches. It has more than 4,800 branches in the lower 48 states. Wells Fargo and Bank of America follow behind with more than 4,400 and 3,700 branches, respectively.
Since these banks have a presence across the country, there is a good chance that there is a branch or ATM in your area.
Which is the most popular bank?
Some of the most popular banks among the 10 largest institutions include Wells Fargo, Chase, Bank of America, and US Bank. The top bank varies by state and may depend on factors such as branch and ATM accessibility, reputation, and recognition. In some areas, smaller, regional banks are more popular than larger banks because their branches are more convenient.
What is the richest bank in America?
Based on Federal Reserve data for consolidated assets, JPMorgan Chase is the richest bank in the US. It has total assets of more than $3.3 trillion, more than any other bank in the country.
Total assets include everything a bank owns, from loans and investments to physical assets such as 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 2024
Frequently Asked Questions (FAQ)
Should you choose one of America's largest banks?
When it comes to banks, size isn't everything. The best banks have low fees, competitive interest rates, and good customer service, and you can find these things at banks large and small. Some people prefer to bank with larger, established institutions and others prefer the higher rates and lower fees of emerging online banks.
Are big 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 shortcomings of big banks?
The biggest drawback of larger banks is that sometimes their overhead and operating costs can be high. This could lead to higher fees and lower interest rates on consumer accounts. Wait times for processing and customer service may also be longer at larger banks, but it depends on the institution.
What are the top five banks in America?
The top five banks in the US are JPMorgan Chase, Bank of America, Citibank, Wells Fargo and US Bank. It is the largest US bank by assets and one of the largest banks in the world.
