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In the United States there are a total of 7,836 national banks, supervised by the Federal Reserve (Fed), as can be seen on the FFIEC website. All are covered by federal insurance of up to $ 250,000 for each deposit.
These banks, like all financial institutions in the United States, have a rating based on their level of risk, which is carried out by Standard & Poors. In this way, it is possible to observe their results and estimate the strength and risk levels they have.
Many of these banks are regional or local institutions and very small credit cooperatives in assets, as there are various criteria for classification of financial institutions. According to its total assets, 133 financial entities are registered with assets over 10,000 million (as of June 2018).
Below we share the list of the top 10 banks in the United States, according to the FFIEC. These are recognized nationally and internationally, since they have a very important role in shaping the economy of that country.
Institution Name / Geographic Location / Total Assets (Sep. 2018.)
|Rank||Bank name||Total assets|
|1||JPMorgan Chase & Co.||$2.74 trillion|
|2||Bank of America Corp.||$2.38 trillion|
|3||Citigroup Inc.||$1.96 trillion|
|4||Wells Fargo & Co.||$1.89 trillion|
|5||Goldman Sachs Group Inc.||$925.35 billion|
|6||Morgan Stanley||$875.96 billion|
|7||U.S. Bancorp||$475.78 billion|
|8||PNC Financial Services Group Inc.||$392.84 billion|
|9||TD Group US Holdings LLC||$384.07 billion|
|10||Capital One Financial Corp.||$373.19 billion|
The 5 largest banks in the United States
Following this criterion of total assets for the classification of financial institutions, we share some details of the 5 largest banks in the US.
JP Morgan Chase & Co.
This is one of the oldest financial institutions in the United States, founded more than 200 years ago; It is currently the first in the country in terms of reported assets.
It is defined as a world leader in investment banking, financial services, commercial banking, financial transaction processing and asset management.
It has global operations, with presence in more than 100 markets, serving 250,000 employees. Its customers are millions of consumers, small businesses and corporate clients, as well as some institutions and governments in the world.
Bank of America Corporation
Recognized by the FFIEC as the second largest banking entity in the United States (as of June 2018), it has more than 2.38 trillion dollars in assets; It maintains operations in more than 35 countries in Europe, the Middle East and Africa, Asia Pacific and America.
It is defined as an organization that offers responsible growth through its various lines of business: for people it offers attention to consumers, financial services through digital banking and retail banking. And for small businesses, it offers banking and investment, cash management, loans and investment solutions for entrepreneurs and small businesses.
One of its divisions called Merrill Lynch Wealth Management offers personal advice to help investors plan and achieve their financial goals. Similarly, another of its divisions, US Trust, offers private banking and wealth management solutions.
At the level of corporate clients, it offers guidance and integrated financial solutions; It includes credit, treasury, commerce, equipment financing, for small and medium-sized national companies. It also offers global solutions for larger corporations, debt markets, capital, commodities and currencies.
Composed of subsidiaries that include Citigroup Banking Corporation, Citigroup Global Markets Holdings Inc and Citicorp LLC. (Within the latter, Citibank, NA with its various subsidiaries worldwide), is also made up of the companies Citi GSP inc and Citigroup Japan Holdings GK.
It has more than 2 billion dollars in assets. For example, Citi Global Consumer Bank (GCB), one of the digital banks that is defined as a world leader, serves as a reliable partner for more than 100 million customers in 19 markets worldwide.
Wells Fargo & Company
It is an American multinational financial services company based in San Francisco, California. It is the fourth largest bank in the United States by total assets with 1.9 billion dollars as of June 2018. However, it is still the second largest bank in mortgage loan and debit card services.
Now, the parent company Wells Fargo Bank has more than 11,000 branches and 12,000 ATMs nationwide. In addition, it has the largest banking presence in America with 6,600 locations.
The Goldman Sachs Group Inc
Goldman Sachs Group Inc. is a firm that defines itself as a world leader in investment banking, securities and investment management. It provides a wide range of financial services to corporate clients, financial institutions, governments and individuals.
It was founded in 1869 and is currently based in New York; It maintains offices in the principal in various financial centers of the world. In the ranking published by the FFIEC (as of June 2018) it ranks fifth for its assets.