Large banks are designed to be a one-stop shop for your financial needs. They often provide access to a nationwide network of branches, which comes in handy if you want in-person customer service support. And these banks generally have an extensive ATM network, mobile apps that use cutting-edge technology with innovative security features and a robust suite of mortgage and loan products.
However, these conveniences often come with a monthly fee. Many large banks don’t compete for your business by offering competitive yields on savings, certificate of deposit or money market accounts. But large banks can provide a sense of security and stability that may be worth forgoing perks that online-only banks can offer.
The Federal Reserve ranked 2,146 of the largest US commercial banks based on data as of March 31, 2024. Here are 15 biggest ones to choose from.
| Ranking | Bank Name | Assets |
| 1 | JPMorgan Chase | $3.50 trillion |
| 2 | Bank of America | $2.55 trillion |
| 3 | Wells Fargo | $1.74 trillion |
| 4 | Citibank | $1.70 trillion |
| 5 | U.S. Bank | $699.4 billion |
| 6 | PNC | $562.0 billion |
| 7 | Goldman Sachs | $549.1 billion |
| 8 | Truist Bank | $526.7 billion |
| 9 | Capital One | $478.9 billion |
| 10 | TD Bank | $369.9 billion |
| 11 | Bank of New York Mellon | $357.5 billion |
| 12 | State Street Bank and Trust Co. | $333.7 billion |
| 13 | BMO | $264.6 billion |
| 14 | Citizens Bank | $220.2 billion |
| 15 | First Citizens | $217.7 billion |
1. JPMorgan Chase Bank
Consolidated assets: $3.50 trillion
New York-based JPMorgan Chase Bank tops the Federal Reserve’s list of largest banks by consolidated assets owned at $3.50 trillion, of which $2.68 trillion represents assets owned domestically.
Chase Bank, the consumer banking arm of JPMorgan Chase, has more than 4,900 US branches, over 15,000 domestic ATMs and a slew of international banking branches. Chase Bank serves customers in more than 60 countries, with offices in the Americas, Europe, North Africa and Asia.
2. Bank of America
Consolidated assets: $2.55 trillion
Bank of America, based in Charlotte, North Carolina, serves 68 million retail customers and small-business clients. The company has nearly 3,800 branches -- which it refers to as “retail financial centers” -- and 15,000 ATMs, according to its website. Its digital banking app serves 57 million verified users.
In 2022, Bank of America announced it had eliminated the nonsufficient funds fee -- the fee charged when a bank returns a payment due to insufficient funds in an account -- and reduced its overdraft fee to $10.
3. Wells Fargo
Consolidated assets: $1.74 trillion
Wells Fargo returned to the third spot on the Fed’s list as of December 2023. It’s had a few rocky years dealing with criminal and civil lawsuits involving fraudulent sales practices and recent investigations into fake hiring practices.
However, Wells Fargo remains a banking giant in the US, headquartered in San Francisco with more than 5,600 retail banking locations and more than 12,000 ATMs.
4. Citibank
Consolidated assets: $1.70 trillion
Citibank is the retail banking arm of global financial services giant Citigroup. New York-based Citibank serves some 200 million customer accounts in 160 countries. Citibank customers have access to nearly 700 branch locations and more than 65,000 surcharge-free ATMs.
5. U.S. Bank
Consolidated assets: $699.4 billion
Coming in fifth with $699.4 billion in consolidated assets, Minneapolis-based U.S. Bank launched the nation’s first Spanish-language voice assistant banking app in 2022. U.S. Bank has more than 2,000 bank branches across 26 states. Its banking app allows you to share your location while traveling to avoid banking service interruptions while away from home.
6. PNC Bank
Consolidated assets: $562.0 billion
The result of the largest bank merger of its time, the Pittsburgh National and Provident National banks took their shared initials and formed PNC Bank in 1983. Since then, this Pittsburgh-based bank has focused its operation in the Midwest, Northeast and South.
In November 2020, PNC agreed to pay $11.6 billion to acquire BBVA USA, a regional bank operating mainly in Southern and Western states. PNC Bank has more than 2,300 branches across the US.
7. Goldman Sachs Bank
Consolidated assets: $549.1 billion
Since the 2008 financial crisis, this venerable New York-based multinational investment bank and financial services firm has been rebuilding its brand and has reported $549.1 billion in consolidated assets.
Marcus by Goldman Sachs, its consumer banking arm that launched in 2016, offers competitive rates on savings and certificates of deposit accounts but doesn’t offer checking or money market accounts.
8. Truist Bank
Consolidated assets: $526.7 billion
Truist Bank, formed by a merger between BB&T and SunTrust Bank in 2019, operates in 17 states across the Southeastern US and the District of Columbia. Charlotte, North Carolina-based Truist has more than 2,000 bank branches and offers customers access to more than 3,000 ATMs.
In 2022, Truist launched Truist One Banking accounts, which provide eligible customers access to traditional banking services without overdraft fees.
9. Capital One Bank
Consolidated assets: $478.9 billion
Capital One Bank is headquartered in McClean, Virginia, and has 273 branches across six states and the District of Columbia. The majority are located in Louisiana, Maryland, Texas, New York and Virginia.
Capital One Bank may have fewer traditional branches than most other members of this list, but it has a massive network of 70,000 ATMs, a mobile banking app, Capital One Cafes in select cities and competitive rates on savings and CD accounts. The first of the Capital One Lounges opened at the Dallas-Fort Worth airport in 2023.
10. TD Bank
Consolidated assets: $369.9 billion
Casting itself as “America’s Most Convenient Bank,” TD Bank, the US-based arm of the Canadian bank TD Bank Group, lands firmly on the list of the largest US banks at No. 10. TD Bank has more than 1,100 branches located along the East Coast from Maine to Florida -- and most of them are open seven days a week (plus some holidays). You can also access nearly 2,600 ATMs through the TD Bank network.
11. Bank of New York Mellon
Consolidated assets: $357.5 billion
Commonly referred to as BNY Mellon, this New York-based investment banking services firm was formed when Mellon Financial Corporation merged with the Bank of New York in 2007.
As a global institution, BNY Mellon operates in 35 countries around the world and primarily focuses on investment services for institutions and high-net-worth clients. It’s one of the three oldest banks in the US and counts Alexander Hamilton, Thomas Jefferson and Benjamin Franklin among its founding shareholders.
12. State Street Bank and Trust Company
Consolidated assets: $333.7 billion
State Street Bank and Trust Company is a Massachusetts-based investment firm that operates in more than 100 markets globally. With a primary focus on investment management, investment research and trading, this bank hasn’t offered retail banking services or commercial lending since 1999. However, in 2023, the bank opened a new 500,000-square-foot headquarters in Boston to mark its 230-year history of operations there.
13. BMO
Consolidated assets: $264.6 billion
Formerly known as BMO Harris, the US subsidiary of the multinational Bank of Montreal shortened its name to BMO in the fall of 2022. After completing the acquisition of Bank of the West in 2023, BMO expanded its US presence and operates more than 1,000 branches across eight states. It also launched BMO Alto -- an online-only banking service offering high-yield savings and certificate of deposit accounts -- in April 2023.
14. Citizens Bank
Consolidated assets: $220.2 billion
Citizens Bank is a full-service bank that primarily provides retail banking and commercial products for consumers and small businesses in the New England, Mid-Atlantic and Midwest regions of the US.
In addition to operating nearly 1,100 branches in 14 states, Citizens Bank has an online-only division, Citizens Access, which has offered services since 2018. To expand its geographic footprint, Citizens Bank acquired Investors Bancorp and HSBC’s East Coast branches and national online deposit business in 2022.
15. First Citizens Bank
Consolidated assets: $217.7 billion
Raleigh, North Carolina-based First Citizens Bank is a growing player in the banking industry with a 125-year history that offers personal, business and commercial banking and wealth management services. Its merger with CIT Bank in 2022 provided a foothold in the online banking arena. Customers can visit more than 550 branches across 23 states.
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