From JPMorgan Chase To Citigroup, Top 5 US Banks By Asset Size

Top 5 US Banks

Curious about the biggest banks and their scale? The Federal Reserve regularly updates the list of the largest banks in the U.S. by asset size. According to reports, the largest banks in the United States collectively hold approximately $12.9 trillion in assets. 

1. JPMorgan Chase

JPMorgan Chase, also known as Chase Bank, stands as the largest bank in America, boasting nearly $3.4 trillion in assets. With an extensive network encompassing over 4,800 physical branches and more than 15,000 ATMs, it offers convenient accessibility to customers nationwide. Known for its generous bonuses, promotions, and diverse range of products, Chase is a favored choice among consumers. Beyond consumer banking, it provides comprehensive services including business banking, community banking, investment, and asset management, catering to a wide array of financial needs.

2. Bank of America

Following closely behind Chase, Bank of America ranks as one of the largest US banks, boasting over $2.4 trillion in assets. With more than 3,700 branches across the United States, as well as a handful of foreign branches, this bank offers extensive banking services catering to both individuals and businesses. Additionally, Bank of America provides investment and wealth management services through Merrill (formerly Merrill Lynch). Moreover, the bank emphasizes relationship banking, offering perks through its Preferred Rewards Program for qualifying customers.

3. Wells Fargo 

Based in San Francisco, Wells Fargo ranks as the fourth-largest bank in the US, boasting assets totaling over $1.7 trillion. As a comprehensive institution, it provides various services, including consumer and commercial banking, mortgage and home equity lending, credit cards, investment banking, and wealth management. With approximately 4,400 branches and 12,000 ATMs spanning the nation, Wells Fargo offers extensive in-person access, distinguishing itself as a prominent U.S. financial institution.

4. Citigroup

As a division of Citigroup, Citibank stands as a prominent global bank, offering diverse financial products and services to clients across the world. With assets exceeding $1.6 trillion, primarily sourced from U.S.-based customers, Citibank maintains a network of over 650 domestic branches. Despite its relatively limited domestic presence, the bank provides services like consumer banking, commercial banking, investment banking, and wealth management, catering to the multifaceted needs of its clientele.

5. US Bank

With assets totaling over $650 billion, US Bank secures its place as the fifth-largest bank in the country, although its asset size falls significantly below the top four banks, each surpassing the $1 trillion mark. Operated by Minneapolis-based parent company U.S. Bancorp, this substantial bank has expanded its reach through the acquisition of several smaller banks over the years, experiencing growth with each merger. Boasting a network of over 2,300 branches, this bank remains a formidable presence in the U.S. banking sector.