The list of banks in the United States includes major financial institutions offering a wide range of services, from personal banking to business solutions. It features top players like JPMorgan Chase, Bank of America, and Citibank, shaping the U.S. economy.
The United States is home to some of the largest and most influential banking institutions in the world. The list of banks in the United States includes a variety of financial institutions, ranging from community banks to multinational corporations with vast global reach. Understanding the landscape of these banks is essential for anyone seeking to navigate the financial system, whether you’re looking for the best bank for personal services, business solutions, or investment opportunities.
In this article, we’ll provide a detailed breakdown of the list of banks in the United States by their assets, location, and primary services, along with a closer look at the top 10 largest U.S. banks based on their total assets in 2024. We’ll also explore their domestic and international operations and highlight some of the key trends shaping the future of U.S. banking.
Table of Top 10 U.S. Banks by Assets in 2024
| Rank | Bank Name | Total Assets (in Trillions) | Domestic Assets (in Trillions) | Domestic Branches | Foreign Branches |
|---|---|---|---|---|---|
| 1 | JPMorgan Chase Bank | $3.58 | $2.67 | 4,911 | 32 |
| 2 | Bank of America NA | $2.57 | $2.42 | 3,704 | 23 |
| 3 | Citibank | $1.73 | $1.07 | 648 | 112 |
| 4 | Wells Fargo Bank NA | $1.70 | $1.68 | 4,243 | 10 |
| 5 | U.S. Bank | $670.0 Billion | $670.0 Billion | 2,226 | 1 |
| 6 | Goldman Sachs Bank | $564.4 Billion | $490.9 Billion | 2 | 2 |
| 7 | PNC Bank | $559.7 Billion | $555.6 Billion | 2,323 | 1 |
| 8 | Truist Bank | $515.2 Billion | $515.2 Billion | 1,930 | 0 |
| 9 | Capital One | $483.9 Billion | $483.4 Billion | 256 | 1 |
| 10 | TD Bank | $399.9 Billion | $399.9 Billion | 1,132 | 0 |
Understanding the List of Banks in the United States
The list of banks in the United States consists of over 4,000 financial institutions that offer a wide range of services, from savings and checking accounts to mortgages, investment options, and small business loans. While community and regional banks serve specific areas, large national banks dominate the financial landscape, providing both retail and corporate banking solutions.
In 2024, the U.S. banking sector is characterized by a few dominant players that hold the lion’s share of total assets. Below, we’ll explore each of the top 10 banks and what makes them so influential in the industry.
1. JPMorgan Chase Bank – $3.58 Trillion
JPMorgan Chase stands as the largest bank in the United States, with $3.58 trillion in assets. Based in New York, it dominates both the retail and investment banking sectors. With over 4,900 branches across the country, JPMorgan Chase offers everything from checking accounts to investment management services, making it a one-stop shop for financial needs.
The bank’s significant international presence is also noteworthy, with 32 foreign branches. JPMorgan Chase continues to innovate with advanced digital banking services, making it a favorite among both individuals and businesses seeking comprehensive financial solutions.
2. Bank of America NA – $2.57 Trillion
Bank of America, headquartered in Charlotte, North Carolina, ranks second in terms of assets with $2.57 trillion. The bank’s domestic assets are $2.42 trillion, representing 94% of its total assets. Known for its broad customer base, Bank of America operates 3,704 branches across the U.S., providing services that range from personal banking to small business solutions.
Like JPMorgan Chase, Bank of America has a global footprint with 23 foreign branches, cementing its position as a major player in both domestic and international banking. The bank is also known for its strong digital banking capabilities.
3. Citibank – $1.73 Trillion
Citibank, based in Sioux Falls, South Dakota, is the third-largest U.S. bank, holding $1.73 trillion in assets. While the bank operates domestically, a significant portion of its operations is international, with 112 foreign branches across the globe. Citibank’s services include consumer banking, corporate banking, and wealth management.
4. Wells Fargo Bank NA – $1.70 Trillion
With $1.70 trillion in assets, Wells Fargo is another banking giant on the list of banks in the United States. Known for its massive domestic operations, the bank has $1.68 trillion in domestic assets, which accounts for 99% of its total assets. Wells Fargo serves its customers through 4,243 branches across the U.S., offering a variety of financial services.
5. U.S. Bank – $670.0 Billion
U.S. Bank, headquartered in Minneapolis, Minnesota, rounds out the top five largest U.S. banks, holding $670 billion in assets. The bank is entirely focused on domestic operations, with over 2,200 branches serving customers across the country. U.S. Bank offers retail banking services, as well as business loans, mortgages, and investment services.
6. Goldman Sachs Bank – $564.4 Billion
Goldman Sachs Bank, based in New York, specializes in investment banking, with $564.4 billion in total assets. While it operates only two branches in the U.S., Goldman Sachs has a global reach, with two additional branches located overseas. Known for its high-profile clients, the bank provides a wide range of financial services, including asset management, investment banking, and securities trading.
7. PNC Bank – $559.7 Billion
PNC Bank is ranked seventh on the list of banks in the United States, holding $559.7 billion in total assets. The bank is primarily focused on serving U.S. customers, with 2,323 domestic branches and just one foreign branch. PNC provides traditional banking services, along with commercial banking solutions for businesses.
8. Truist Bank – $515.2 Billion
Truist Bank is a result of the merger between BB&T and SunTrust, and it holds $515.2 billion in total assets. The bank operates entirely within the U.S. and offers a wide range of services, from personal banking to business and commercial lending. Truist’s 1,930 domestic branches ensure it is a major player in the U.S. banking industry.
9. Capital One – $483.9 Billion
Capital One, headquartered in McLean, Virginia, is a prominent player in the credit card sector, with $483.9 billion in total assets. While its physical footprint is smaller, with just 256 branches in the U.S., Capital One’s innovative approach to digital banking and credit services has made it a key player in the industry.
10. TD Bank – $399.9 Billion
TD Bank, based in Cherry Hill, New Jersey, completes the top 10 list with $399.9 billion in assets. The bank’s operations are focused entirely on the U.S., where it operates 1,132 branches. TD Bank offers a range of personal and business banking services, with a strong emphasis on customer service and convenience.
Comprehensive Table of the Largest Banks in the United States
Here is a detailed list of the top 10 largest banks in the United States, along with their total assets and other key information. This table offers a quick overview of the list of banks in the United States, ranked by assets and market influence.
| Rank | Bank Name | Headquarters Location | Total Assets (Billions of US$) | Market Capitalization (Billions of US$) | CET1 Capital Requirement | Ticker Symbol |
|---|---|---|---|---|---|---|
| 1 | JPMorgan Chase | New York City | $4,143 | $491.76 | 12.0% | JPM |
| 2 | Bank of America | Charlotte, NC | $3,257 | $266.46 | 10.4% | BAC |
| 3 | Citigroup | New York City | $2,405 | $98.45 | 11.5% | C |
| 4 | Wells Fargo | San Francisco, CA | $1,940 | $178.75 | 9.2% | WFC |
| 5 | Goldman Sachs | New York City | $1,653 | $125.80 | 13.3% | GS |
| 6 | Morgan Stanley | New York City | $1,212 | $153.05 | 13.3% | MS |
| 7 | U.S. Bancorp | Minneapolis, MN | $680 | $67.39 | 7.0% | USB |
| 8 | PNC Financial Services | Pittsburgh, PA | $556 | $61.68 | 7.4% | PNC |
| 9 | TD Bank, N.A. | Cherry Hill, NJ | $523 | $100.30 | 7.0% | TD |
| 10 | Truist Financial | Charlotte, NC | $519 | $49.24 | 7.0% | TFC |
Key Insights into the List of Banks in the United States
The list of banks in the United States reveals several interesting insights about the financial industry. Here are some key takeaways:
- New York City as the Banking Hub: It’s clear from the list of banks in the United States that New York City is home to the largest number of financial giants. Institutions such as JPMorgan Chase, Citigroup, and Goldman Sachs dominate the rankings. This highlights New York’s status as the global financial capital.
- Diverse Market Capitalization: The top banks vary in market capitalization, with JPMorgan Chase leading the pack at nearly half a trillion dollars. This reflects not only the total assets of these institutions but also their stock market value and investor confidence.
- Global Influence: Banks like Citigroup and Goldman Sachs are not just key players in the U.S. market—they have a global footprint, making the list of banks in the United States relevant worldwide. Their financial products and services cater to international clients, providing cross-border financial solutions.
- Strong Capital Requirements: The Capital Adequacy Tier 1 (CET1) capital requirement for each of these institutions ensures they maintain a strong financial foundation, reducing the risk of financial instability. As per the list of banks in the United States, the largest banks typically exceed regulatory requirements, maintaining higher capital reserves.
How to Choose the Right Bank from the List of Banks in the United States
Choosing the right bank depends on your financial needs. The list of banks in the United States offers a wide range of options, from mega-banks offering global services to regional institutions catering to local communities. Here are a few things to consider:
- Banking Services: Larger banks often offer more diverse financial products, including investment banking, wealth management, and personal banking. Smaller banks may focus more on retail banking and local services.
- Online Services: In today’s digital world, many banks on the list of banks in the United States provide robust online banking platforms for seamless account management, loan applications, and financial planning.
- Customer Service: When choosing a bank, consider customer satisfaction ratings. Many banks in the list of banks in the United States offer 24/7 support and personalized services.
Trends Shaping the Future of the List of Banks in the United States
As we move into 2025, several key trends are influencing the U.S. banking landscape:
- AI-Powered Banking: The integration of artificial intelligence in banking chatbots is revolutionizing customer service. Banks are using AI to streamline operations and improve efficiency in areas like loan approvals and customer inquiries.
- Banking for Gen Z and Gen Alpha: Banks are shifting their focus to younger generations, offering financial education tools and digital banking solutions to engage them early and build long-term relationships.
- Financial Media Networks (FMNs): Banks are exploring FMNs as a new source of revenue, leveraging their customer data to offer targeted advertising solutions while navigating privacy concerns.
- Compliance and Regulation: As the regulatory environment becomes more complex, U.S. banks are focusing on ensuring compliance, particularly in areas like Banking as a Service (BaaS) and AI adoption.
Conclusion
The list of banks in the United States is filled with a variety of financial institutions, each with its unique strengths and services. The top 10 largest U.S. banks, with their massive assets, serve as pillars of the economy, offering a broad spectrum of services to consumers and businesses alike. As these banks continue to adapt to new technologies, changing customer needs, and a shifting regulatory landscape, they will remain central to the U.S. financial system.
Whether you’re looking to open a personal account, seek investment advice, or explore business banking options, the list of banks in the United States provides a comprehensive overview of the key players in the industry.