25 Largest Banks in the U.S. — and the 25 Most Popular

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Updated on Tuesday, December 21, 2021

The 25 largest banks in the U.S. have a combined $15.1 trillion in assets, according to the latest quarterly report from the Federal Deposit Insurance Corp. (FDIC). Some of these major banks hold trillions of dollars in assets — like Chase Bank ($3.3 trillion) — while others hold billions — like Regions Bank ($155 billion).

For more insight into U.S. banks, MagnifyMoney examined metrics such as the 25 most popular banks by customer accounts, the 10 largest online-only banks and the 25 fastest-growing banks. Keep reading for more insight.

Key findings

  • The four biggest banks in America each have more than a trillion dollars in assets. Chase Bank ($3.3 trillion) leads the way, followed by Bank of America ($2.4 trillion), Wells Fargo Bank ($1.8 trillion) and Citi ($1.7 trillion).
  • Bank of America is the most popular bank — by far — by customer accounts. The bank has more than 118 million customer accounts, followed by Wells Fargo Bank (68 million) and Chase Bank (66 million).
  • The three most popular banks also have the most branches. This time, Chase Bank is at the top with 5,031 branches, followed by Wells Fargo Bank (4,900) and Bank of America (4,311). They are also among the four banks with the most employees, with Citi joining the mix.
  • The three largest online-only banks have a combined $935 billion in assets. These banks are Marcus by Goldman Sachs ($387 billion), Charles Schwab Bank ($379 billion) and Ally Bank ($169 billion).
  • The fastest-growing banks within the top 100 in assets generally have smaller footprints. Silicon Valley Bank is the fastest-growing bank with 49.5% year-over-year growth. Signature Bank and Western Alliance Bank round out the top three fastest-growing banks with year-over-year gains of 40.9% and 36.9%, respectively.

25 largest banks in the U.S.

Chase Bank is the largest bank in the U.S. by assets — or items a bank owns, like loans and reserves.

Assets across the 25 largest banks average $605 billion, but it’s worth paying closer attention to the deep drop-off in assets after the top four. No. 4 Citi holds $1.7 trillion in assets, while the fifth-ranked institution — US Bank — drops drastically to $557 billion in assets.

Here are the 25 largest banks in the U.S. After, we’ll break down the top 10 further.

Largest banks in the U.S., by assets
RankBank
Assets
1Chase Bank
$3.3 trillion
2Bank of America
$2.4 trillion
3Wells Fargo Bank
$1.8 trillion
4Citi
$1.7 trillion
5US Bank
$557 billion
6Truist
$517 billion
7PNC Bank
$462 billion
8TD Bank
$413 billion
9Marcus by Goldman Sachs
$387 billion
10The Bank of New York Mellon
$386 billion
11Charles Schwab Bank
$379 billion
12Capital One
$372 billion
13State Street Bank and Trust Company
$319 billion
14Fifth Third Bank
$206 billion
15HSBC
$200 billion
16Silicon Valley Bank
$188 billion
17Citizens Bank
$187 billion
18KeyBank
$185 billion
19Morgan Stanley Bank, National Association
$178 billion
20 (tie)Huntington National Bank
$173 billion
20 (tie)First Republic Bank
$173 billion
22 (tie)Ally Bank
$169 billion
22 (tie)The Northern Trust Company
$169 billion
24BMO Harris Bank
$166 billion
25Regions Bank
$155 billion
Source: DepositAccounts analysis of the latest Federal Deposit Insurance Corp. (FDIC) quarterly report. Data pulled on Dec. 6, 2021.

No. 1: Chase Bank

JPMorgan Chase — the parent company of Chase Bank — reported record net revenue of $119.5 billion in 2020. Despite this, net income was smaller than in previous years due to loan loss provisions to cover losses on loans amid the COVID-19 pandemic. The New York-based bank is the only financial institution with more than $3 trillion in assets.

Chase Bank assets, numbers and more
HeadquartersNew York
Assets$3.3 trillion
Number of customer accounts66,225,311
Number of branches5,031
Number of employees202,946
2020 JPMorgan Chase revenue$119.5 billion
Market value (as of July 22, 2021)$456.9 billion
CEOJamie Dimon
Review:Chase Bank

No. 2: Bank of America

Bank of America — parts of which date back 240 years — joins Chase Bank as the only financial institutions with more than $2 trillion in assets. Net revenue in 2020 was $85.5 billion, down from $91.2 billion in 2019. The Charlotte, N.C.-based bank is the only bank with more than 100 million accounts. The next closest is Wells Fargo Bank, with fewer than 70 million.

Bank of America assets, numbers and more
HeadquartersCharlotte, N.C.
Assets$2.4 trillion
Number of customer accounts118,474,541
Number of branches4,311
Number of employees136,283
2020 Bank of America revenue$85.5 billion
Market value (as of Oct. 1, 2021)$362.5 billion
CEOBrian Moynihan
Review:Bank of America

No. 3: Wells Fargo Bank

Despite the fallout Wells Fargo Bank experienced — and continues to experience — after a 2016 scandal surrounding fake accounts, the financial institution still has many customer accounts (more than 68 million). The bank’s total revenue in 2020, $72.3 billion, was 15% lower than the $85.1 billion in 2019. Like Chase Bank, its loan loss provisions jumped 426% year over year.

Wells Fargo Bank assets, numbers and more
HeadquartersSan Francisco
Assets$1.8 trillion
Number of customer accounts68,043,492
Number of branches4,900
Number of employees221,165
2020 Wells Fargo revenue$72.3 billion
Market value (as of July 22, 2021)$185.0 billion
CEOCharles Scharf
Review:Wells Fargo Bank

No. 4: Citi

Citigroup — of which Citi is a part — is led by Jane Fraser, the first woman to head a major Wall Street bank. The New York-based bank is the final on this list with more than $1 trillion in assets.

While there are 921 Citi branch locations in the U.S., Citigroup announced plans in April 2021 to end banking operations in 13 markets, from Australia to Russia to Vietnam.

Citi assets, numbers and more
HeadquartersNew York
Assets$1.7 trillion
Number of customer accounts20,360,444
Number of branches921
Number of employees175,137
2020 Citi revenue$74.3 billion
Market value (as of July 22, 2021)$139.3 billion
CEOJane Fraser

No. 5: US Bank

In 2019, US Bank expanded to the East Coast, with a new branch in Charlotte, N.C. The bank now has 2,271 branches across 27 states. In September, the bank’s parent company — U.S. Bancorp — announced it was acquiring San Francisco-based Union Bank for about $8 billion. Union Bank appears in 24th on the list of institutions with the most branches at 296.

US Bank assets, numbers and more
HeadquartersMinneapolis
Assets$557 billion
Number of customer accounts38,084,591
Number of branches2,271
Number of employees67,020
2020 U.S. Bancorp revenue$23.3 billion
Market value (as of March 31, 2016)$70.5 billion
CEOAndrew Cecere
Review:US Bank

No. 6: Truist

While Trusit may not be a household name like some of the other major banks among the top 10, it’s a powerhouse with $517 billion in assets and nearly 15 million customer accounts. Truist is the result of the 2019 merger between BB&T and SunTrust Bank. Its total revenue in 2020 was $22.7 billion, up from $12.6 billion in 2019.

Truist assets, numbers and more
HeadquartersCharlotte, N.C.
Assets$517 billion
Number of customer accounts14,759,481
Number of branches2,509
Number of employees49,354
2020 Truist revenue$22.7 billion
Market value (as of July 22, 2021)$72.5 billion
CEOWilliam Rogers Jr.
Review:Truist

No. 7: PNC Bank

If you bank with PNC Bank, don’t be surprised if your access to branch locations expands soon. PNC recently acquired BBVA USA Bancshares Inc., including its U.S. banking subsidiary BBVA USA. Without BBVA, PNC Bank is still No. 7 on the assets list and No. 6 in branches, with nearly 20 million customer accounts.

PNC Bank assets, numbers and more
HeadquartersPittsburgh
Assets$462 billion
Number of customer accounts19,060,821
Number of branches2,096
Number of employees51,532
2020 PNC Financial Services Group revenue$16.9 billion
Market value (as of March 31, 2021)$74.4 billion
CEOWilliam Demchak
Review:PNC Bank

No. 8: TD Bank

Initially formed in 1855 as The Bank of Toronto and founded by a group of millers and merchants, TD Bank now serves many customers outside Canada. The bank is one of seven with more than 20 million customer accounts. Its 2020 revenue, which is tracked in Canadian dollars, was generally unchanged compared to 2019.

TD Bank assets, numbers and more
HeadquartersCherry Hill, N.J.
Assets$413 billion (U.S. dollars)
Number of customer accounts20,825,471
Number of branches1,157
Number of employees24,074
2020 TD Bank revenue$42.7 billion (Canadian dollars)
Market value (as of July 22, 2021)$119.4 billion (U.S. dollars)
CEOGreg Braca
Review:TD Bank

No. 9: Marcus by Goldman Sachs

The sole online-only bank to make the top 10 list of institutions with the most assets, Marcus by Goldman Sachs combines the power of establishment with modern banking amenities. What Marcus by Goldman Sachs lacks in branch locations (it has zero), it makes up for in handy digital tools and perks like high-yield savings accounts.

Marcus by Goldman Sachs assets, numbers and more
HeadquartersNew York
Assets$387 billion
Number of customer accounts2,005,265
Number of branchesOnline-only
Number of employees3,580
2020 Goldman Sachs Group revenue$44.6 billion
Market value (as of July 22, 2021)$132.1 billion
CEODavid Solomon
Review:Marcus by Goldman Sachs

No. 10: The Bank of New York Mellon

While New York is in the name, The Bank of New York Mellon services much more than just those in the Empire State. The financial institution doesn’t have a lot of branches (25), so get ready to lean on its digital services if you choose to bank there. Among the top 10 in assets, this institution has the smallest number of customer accounts by far.

The Bank of New York Mellon assets, numbers and more
HeadquartersNew York
Assets$386 billion
Number of customer accounts145,228
Number of branches25
Number of employees39,711
2020 Bank of New York Mellon revenue$15.8 billion
Market value (as of March 31, 2021)$41.5 billion
CEOThomas Gibbons

Want to take your search for a new international bank? MagnifyMoney also has a list of the largest banks in the world.

25 most popular banks in the U.S.

Bank of America is the most popular bank by customer accounts among the top 100 in assets. Bank of America, which has more than 118 million customer accounts, provides services at more than 4,300 locations in the U.S.

Most popular banks in the U.S., by customer accounts
RankBank
Customer accounts
1Bank of America
118,474,541
2Wells Fargo Bank
68,043,492
3Chase Bank
66,225,311
4US Bank
38,084,591
5TD Bank
20,825,471
6Citi
20,360,444
7Capital One
20,342,976
8PNC Bank
19,060,821
9Truist
14,759,481
10USAA Bank
12,447,533
11Huntington National Bank
7,235,545
12Regions Bank
6,984,487
13Discover Bank
6,624,091
14Fifth Third Bank
6,501,656
15Citizens Bank
5,172,496
16Ally Bank
4,476,401
17KeyBank
4,347,165
18M&T Bank
3,696,574
19Santander Bank, N.A
3,141,861
20Synchrony Bank
2,539,226
21BMO Harris Bank
2,368,401
22Marcus by Goldman Sachs
2,005,265
23Bank of the West
1,877,984
24Customers Bank
1,846,481
25First Horizon Bank
1,741,865
Source: DepositAccounts analysis of the latest Federal Deposit Insurance Corp. (FDIC) quarterly report. Only the 100 largest banks by assets were considered. Data pulled on Dec. 6, 2021.

USAA Bank makes the top 10 among customer account popularity despite being outside the top 25 by assets. The San Antonio-based online-only bank has $117.3 billion in assets.

While the number of branches, employees and other factors can contribute to why one bank is more popular than another, there are many factors at play. Many consumers seek financial institutions that:

  • Offer a mix of helpful digital tools and convenient in-person options
  • Have low fees
  • Create innovative product offerings

25 U.S. banks with the most branches

Chase Bank has the most branches in the U.S. by about 130, which isn’t all that surprising considering it has the third-highest number of customer accounts. And the banks with the most branches are also the three with the most customer accounts, just in differing orders.

However, there’s a wide gap in the number of branches by the bank first on the list — Chase Bank, 5,031 — and the one at 25th — Texas-based Prosperity Bank, 294.

Like the most popular banks, the following analysis only includes banks in the top 100 in assets.

U.S. banks with the most branches
RankBank
Branches
1Chase Bank
5,031
2Wells Fargo Bank
4,900
3Bank of America
4,311
4Truist
2,509
5US Bank
2,271
6PNC Bank
2,096
7Regions Bank
1,314
8TD Bank
1,157
9Fifth Third Bank
1,140
10KeyBank
1,029
11Huntington National Bank
1,010
12Citizens Bank
955
13Citi
921
14M&T Bank
689
15Bank of the West
533
16BMO Harris Bank
529
17First Citizens Bank (North Carolina)
524
18Santander Bank, N.A
502
19Comerica Bank
434
20BancorpSouth
423
21Zions Bank
419
22First National Bank of Pennsylvania
334
23Capital One
325
24Union Bank (California)
296
25Prosperity Bank
294
Source: DepositAccounts analysis of the latest Federal Deposit Insurance Corp. (FDIC) quarterly report. Only the 100 largest banks by assets were considered. Data pulled on Dec. 6, 2021.

Even though people visit in-person branches less often — which makes sense amid the pandemic — some still prefer a personal touch.

25 U.S. banks with the most employees

While Wells Fargo Bank may only rank third by assets, this major banking player has more than 221,000 employees — the most among U.S. banks.

U.S. banks with the most employees
RankBank
Employees
1Wells Fargo Bank
221,165
2Chase Bank
202,946
3Citi
175,137
4Bank of America
136,283
5US Bank
67,020
6Capital One
57,506
7PNC Bank
51,532
8Truist
49,354
9The Bank of New York Mellon
39,711
10State Street Bank and Trust Company
29,444
11TD Bank
24,074
12The Northern Trust Company
20,612
13Huntington National Bank
19,796
14Fifth Third Bank
19,144
15Regions Bank
18,903
16Citizens Bank
17,179
17KeyBank
16,664
18M&T Bank
16,441
19USAA Bank
15,873
20Union Bank (California)
12,864
21Discover Bank
10,784
22BMO Harris Bank
10,367
23Zions Bank
9,641
24Synchrony Bank
9,085
25Ally Bank
8,967
Source: DepositAccounts analysis of the latest Federal Deposit Insurance Corp. (FDIC) quarterly report. Data pulled on Dec. 6, 2021.

Banks that have a lot of branches that customers can visit tend to require a lot more staff to help run those in-person services. Because of this, some of the largest banks, such as Bank of America and Wells Fargo, are also some of the nation’s largest employers.

10 biggest online-only banks in the U.S.

While Marcus by Goldman Sachs is the largest online-only bank by assets, it’s not too far ahead of Charles Schwab Bank.

Thanks to convenient digital banking services, online banks are growing in popularity as trust in them grows. Because they lack the overhead costs of running branches, online banks often pass their savings to their customers in the form of lower fees and higher savings interest rates.

Before diving into the following table, note that we squeezed in an 11th online-only bank since Barclays and Sallie Mae Bank tied in assets at the bottom.

Largest online-only banks, by assets

RankBank
Assets
1Marcus by Goldman Sachs
$387 billion
2Charles Schwab Bank
$379 billion
3Ally Bank
$169 billion
4American Express National Bank
$122 billion
5USAA Bank
$117 billion
6Discover Bank
$107 billion
7Synchrony Bank
$82 billion
8CIT Bank
$49 billion
9TIAA Bank
$38 billion
10 (tie)Barclays
$29 billion
10 (tie)Sallie Mae Bank
$29 billion
Source: DepositAccounts analysis of the latest Federal Deposit Insurance Corp. (FDIC) quarterly report. Data pulled on Dec. 6, 2021.

Marcus by Goldman Sachs is the sole online-only institution among the top 10 banks with the most assets — coming in ninth, they just made the cut.

25 fastest-growing banks in the U.S.

Silicon Valley Bank is the fastest-growing bank in the U.S. among the top 100 by assets. The Santa Clara, Calif.-based bank has just 24 branches and 5,554 employees. Most banks with the fastest growth in the past year have fewer branches and employees than the banks with the most assets.

Only seven of the 25 fastest-growing banks are among those with the most assets:

Fastest-growing banks, by asset growth size
RankBank
1-year change in assets
1Silicon Valley Bank
49.5%
2Signature Bank
40.9%
3Western Alliance Bank
36.9%
4Huntington National Bank
30.8%
5Marcus by Goldman Sachs
28.3%
6UBS Bank USA
24.9%
7Morgan Stanley Trust
23.7%
8First Republic Bank
22.8%
9Pacific Western Bank
20.8%
10UMB Bank, National Association
19.3%
11Charles Schwab Bank
18.8%
12City National Bank (California)
18.8%
13East West Bank
17.3%
14Frost Bank
16.3%
15BancorpSouth
16.1%
15Raymond James Bank
16.1%
17Glacier Bank
15.9%
18State Street Bank and Trust Company
15.9%
19City National Bank (Florida)
15.7%
20First Citizens Bank (North Carolina)
14.4%
21FirstBank (Colorado)
14.1%
22CIBC Bank USA
13.9%
23 (tie)Chase Bank
12.8%
23 (tie)Columbia Bank (Washington)
12.8%
25First Hawaiian Bank
12.7%
Source: DepositAccounts analysis of the latest Federal Deposit Insurance Corp. (FDIC) quarterly report. Only the 100 largest banks by assets were considered. Data pulled on Dec. 6, 2021.

As long as you pick a bank that is FDIC-insured, your money (up to $250,000) will be safe whether you choose a small or large one. Larger banks tend to have more resources, such as in-person branches, but more modern options such as Ally Bank can allow tech-savvy users to do their banking from the comfort of their homes or while traveling.

Methodology

MagnifyMoney researchers used DepositAccounts-compiled data from the latest Federal Deposit Insurance Corp. (FDIC) call report, effective Sept. 30, 2021. The data was pulled on Dec. 6, 2021. Visit DepositAccounts.com for information on more than 4,800 banks.

Analysts used market value data compiled by Fortune magazine.

Capital One figures throughout are only for Capital One, N.A. and don’t include Capital One Bank (USA), N.A., a separate FDIC member.