15 Largest Banks In The United States

Chris Kolmar
By Chris Kolmar
- Feb. 18, 2021

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As of 2019, at least 95% of United States households utilized bank accounts. Further, as of January 2021, a considerable 70% of Americans have credit cards.

Odds are, you probably remember that “coming-of-age” feeling when you opened your first bank account or applied for your first credit card.

Additionally, banks are constantly providing loans to people all over the US. For instance, over 85% of new cars, and almost 56% of used cars are financed through banks.

With that in mind, it’s undeniable that these lenders play an important role in our everyday lives. And this influence is only growing as, within the past decade, bank assets have risen substantially.

So who are the major players throwing around all this money? To answer that, we’ve assembled a list of the top 15 largest banks in America, based on their total assets in 2021:

  1. JPMorgan Chase & Co. — New York City, New York

  2. Bank of America Corp. — Charlotte, North Carolina

  3. Citigroup Inc. — New York City, New York

  4. Wells Fargo & Co. — San Francisco, California

  5. Goldman Sachs Group Inc. — New York City, New York

  6. Morgan Stanley — New York City, New York

  7. U.S. Bancorp — Minneapolis, Minnesota

  8. Truist Financial Corporation — Charlotte, North Carolina

  9. PNC Financial Services Group Inc. — Pittsburgh, Pennsylvania

  10. TD Group US Holdings LLC — Cherry Hill, New Jersey

  11. Capital One Financial Corp. — McLean, Virginia

  12. Charles Schwab Corporation — San Francisco, California

  13. State Street Corp. — Boston, Massachusetts

  14. Bank of New York Mellon Corp. — New York City, New York

  15. HSBC — New York City, New York

America’s 15 Largest Banks: A Closer Look

  1. JPMorgan Chase & Co.

    Headquarters: New York City, New York

    Total Assets: $3.213 trillion

    Just over 20 years ago, JPMorgan and Chase merged, with Chase serving as the US consumer division of JPMorgan. They have at least 4,700 branches all over America, and their headquarters is located at 383 Madison Avenue in Midtown Manhattan, New York City.

    JPMorgan Chase & Co. is considered a universal and custodian bank, and their divisions include:

    • Asset and wealth management

    • Consumer and community banking

    • Commercial banking

    • Investment banking

    As of 2019, JPMorgan Chase & Co. employed over 250,000 employees across the US, and serviced clients from US households and the private sector.

  2. Bank of America Corp.

    Headquarters: Charlotte, North Carolina

    Total Assets: $2.619 trillion

    With roughly 66 million consumers all over the world and at least 37 million digital clients, Bank of America Corp. has earned its place as the second-largest bank in America.

    They have around 4,300 financial centers across the US, including 2,700 lending centers.

    Bank of America Corp. provides services such as:

    • Consumer banking

    • Corporate banking

    • Credit cards

    • Insurance

    • Investment banking

    • Mortgage loans

    • Private banking

    • Private equity

    • Wealth management

    Within recent years, Bank of America Corp. has officially employed over 200,000 employees, and that number is growing.

  3. Citigroup Inc.

    Headquarters: New York City, New York

    Total Assets: $2.219 trillion

    Citigroup became a major financial player when Citicorp and Travelers Group merged in 1998. Their headquarters is located at 388-390 Greenwich St., New York City.

    Citigroup’s retail banking division, known as Citibank, has around 3,400 financial centers around the world, with 700 branches in the US. This division of Citigroup maintains over 138 million accounts and provides an astounding 65,000 fee-free ATMs.

  4. Wells Fargo & Co.

    Headquarters: San Francisco, California

    Total Assets: $1.981 trillion

    Holding the title of the oldest living bank in America, the original Wells Fargo & Co. was founded over a hundred years ago in 1852. As of 2021, the bank employs roughly 266,000 employees, and services at least 70 million people.

    Though Wells Fargo & Co. has focused on consolidating in recent years, they still have the most branches of any bank in the country with at least 8,050 remaining. Additionally, this consolidation effort has been highlighted by their creation of two new savings and mobile banking apps, which are intended to attract younger clients.

  5. Goldman Sachs Group Inc.

    Headquarters: New York City, New York

    Total Assets: $1.089 trillion

    Goldman Sachs Group Inc. focuses primarily on investment banking and financial services. Their number of employees is actually rather small compared to other banks on this list, as they employ just over 40,000 people.

    Some of the services Goldman Sachs provides include:

    • Asset management

    • Credit cards

    • Commercial banking

    • Commodities

    • Investment banking

    • Investment management

    • Mutual funds

    • Prime brokerage

    • Personal loans

    They have locations in 60 major cities around the world, including their headquarters located at 200 West Street, New York City.

  6. Morgan Stanley

    Headquarters: New York City, New York

    Total Assets: $947 billion

    Morgan Stanley is another major investment bank located in New York City, which was a result of a 1997 merger between the original Morgan Stanley and Dean Witter Discover & Co. Today, they employ over 60,000 employees and have locations in 42 countries.

    In general, Morgan Stanley utilizes three business segments known as Institutional Securities, Wealth Management, and Investment Management.

  7. U.S. Bancorp

    Headquarters: Minneapolis, Minnesota

    Total Assets: $546 billion

    U.S. Bancorp is a bank holding company and the parent company of their retail banking division known as U.S. Bank. Their headquarters is located on Lasalle Ave. in Minneapolis.

    U.S. Bank serves roughly 18.7 million customers and provides over 70,000 jobs around the United States. These customers utilize a network of over 3,000 branches and 4,842 automated teller machines dotted around the Midwest and Western portion of the country.

  8. Truist Financial Corporation

    Headquarters: Charlotte, North Carolina

    Total Assets: $506 billion

    Now providing for a substantial 10 million consumers, today’s Truist Financial Corporation is the result of a 2019 merger between BB&T and SunTrust.

    Their headquarters is in Charlotte, North Carolina, but their division known as Truist Bank has 2,049 branches centered in the South and around the East Coast.

    The three major divisions of this bank include: Truist Bank, Truist Securities, and Truist Insurance Holdings. Overall, these divisions employ at least 37,000 people, and provide services for the following:

    • Commercial and consumer banking

    • Investment banking

    • Insurances

    • Mortgages

  9. PNC Financial Services Group Inc.

    Headquarters: Pittsburgh, Pennsylvania

    Total Assets: $457 billion

    PNC Financial Services Group Inc. is the only bank on this list founded in Pennsylvania. However, their retail banking division, PNC Bank, spans across 21 states and operates a considerable 2,296 branches. Since 2018, they’ve expanded their reach from 19 states to 21, but still maintained themselves around the East Coast.

    On November 16, 2020, PNC made a deal to acquire BBVA USA for $11.6 billion. Once the deal is finalized, PNC’s total assets will rise significantly.

    As of right now, though, PNC employs just over 50,000 employees and has around 8 million consumers.

  10. TD Group US Holdings LLC

    Headquarters: Cherry Hill, New Jersey

    Total Assets: $447 billion

    Also centered around the East Coast, TD Group US Holdings LLC is headquartered in Cherry Hill, New Jersey. Their retail banking division, TD Bank has 1,301 locations and services 9.5 million customers.

    TD Bank is known for its flexible hours, as its slogan is “America’s Most Convenient Bank”. Many TD banks are open 8:30 am – 5:00 pm on weekdays, and even have hours on Saturday. Overall, they provide deposit accounts, credit cards, mortgages, and resources for private business clients.

  11. Capital One Financial Corp.

    Headquarters: McLean, Virginia

    Total Assets: $396 billion

    Capital One Financial Corp. is a bank holding company that specializes in credit cards, savings accounts, and auto loans. Within recent years, they’ve maintained a substantial number of credit card holders, with over 60 million active cardholder accounts representing over 11% of the total market share.

    One of their subsidiaries, Capital One Bank, has a unique technology and WiFi centered approach to banking. The bank offers 755 branches, including 30 café style locations with free WiFi for their customers.

  12. Charles Schwab Corporation

    Headquarters: San Francisco, California

    Total Assets: $370 billion

    Though they have intentions to move to Westlake, Texas, in conjunction with a potential merger acquisition of TD Ameritrade, Charles Schwab Corporation is currently headquartered in San Francisco, California.

    This multinational financial services company specializes in:

    • Commercial banking

    • Stock brokerage

    • Wealth management

    • Electronic trading platforms

    Though Charles Schwab only has 345 branches, in 2019 their client assets reached a whopping $3.3 trillion.

  13. State Street Corp.

    Headquarters: Boston, Massachusetts

    Total Assets: $359 billion

    Holding the title of the second oldest bank in America, State Street Corp.’s predecessor, Union Bank, was founded an astounding 229 years ago in 1792. Unsurprisingly, the bank’s headquarters is also located in Boston, MA, one of the oldest cities in the US.

    State Street Corp. provides jobs for almost 40,000 employees, and their clients are mainly asset holders, insurance companies, and pension funds. The bank specializes in:

    • Investment management

    • Stock trading

    • Foreign exchange markets

    • Custodian banks

    • Securities lending

  14. Bank of New York Mellon Corp.

    Headquarters: New York City, New York

    Total Assets: $349 billion

    Bank of New York Mellon Corp. is a uniquely private custodian bank compared to the other banks on this list. While the bank employs over 50,000 people and operates in 35 countries, their focus on institutional and corporate investments gears them toward exclusively wealthy clients.

    BNY Mellon’s investment services account for roughly 72% of their income, which is why the bank focuses so heavily on investments.

  15. HSBC Bank USA

    Headquarters: New York City, New York

    Total Assets: $297 billion

    HSBC Bank USA, headquartered in New York City, New York, is actually a subsidiary of UK-based HSBC. The bank has 159 branch locations in major US cities such as Los Angeles, Atlanta, Houston, Miami, San Francisco, Chicago, Seattle, and Washington D.C.

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Chris Kolmar

Author

Chris Kolmar

Chris Kolmar is a co-founder of Zippia and the editor-in-chief of the Zippia career advice blog. He has hired over 50 people in his career, been hired five times, and wants to help you land your next job. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. More recently, he's been quoted on USA Today, BusinessInsider, and CNBC.

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