Top 10 Banks in America By Assets Held

The U.S. banking industry has consolidated considerably over the past several decades, leaving fewer institutions while the largest banks hold trillions of dollars in assets. As of Oct. 9, 2026, the Federal Deposit Insurance Corporation (FDIC) listed 4,220 active insured institutions nationwide.¹ The largest individual banks are concentrated at the top: JPMorgan Chase alone held more than $4 trillion in consolidated assets as of June 30, 2026. Below are the 10 largest domestically chartered commercial banks in the U.S., ranked by consolidated assets using the latest Federal Reserve data.

If you have questions about how your banking choices can affect your long-term financial plan, consider working with a financial advisor.

The Federal Reserve lists U.S. domestically chartered commercial banks by consolidated assets. ² The latest data was released June and October 2026.

1. JPMorgan Chase

At the top of the list, JPMorgan Chase holds approximately $4.09 trillion in consolidated assets, making it the largest bank in the country. The company is the result of the 2000 merger of J.P. Morgan and Company and Chase Manhattan Corporation. While the J.P. Morgan name is used for investment banking and private wealth management, the company provides retail and commercial banking services through Chase. The Federal Reserve reported 5,137 domestic JPMorgan Chase Bank branches as of June 30, 2026.

2. Bank of America

With approximately $2.65 trillion in consolidated assets, Bank of America ranks second. Its headquarters are in Charlotte, North Carolina, and the company also operates a major wealth management business through Merrill. Bank of America had 3,593 domestic branches as of June 30, 2026.

It started as a small institution serving immigrants in San Francisco at the beginning of the 1900s, which was, oddly enough, called the Bank of Italy. Bank of America briefly ventured into finance in China with the acquisition of a stake in a Chinese Construction Bank, which it later sold off.

3. Citi

Next on the list is Citi, with approximately $1.98 trillion in consolidated assets. A pioneer of both the credit card industry and automated teller machines, Citi traces its history to the City Bank of New York. With its expansion to Argentina in 1914, Citi was also the first U.S. national bank to establish a foreign branch. Citibank had 660 domestic branches and 106 foreign branches as of June 30, 2026.

4. Wells Fargo

Following a merger with Norwest Corporation in 1998 and the acquisition of Wachovia in 2008, Wells Fargo is the fourth-largest bank in the country, with approximately $1.91 trillion in consolidated assets. Wells Fargo Bank had 4,128 domestic branches as of June 30, 2026.

Wells Fargo holds the oldest continuously operating bank charter in the United States. Acquired through Wachovia, it was originally granted to the First National Bank of Philadelphia. In 2016, the bank gained some notoriety after news came out about a corporate culture where employees felt pressured to create 2 million bank accounts without customers’ permission. After a series of charges involving wrongful home foreclosures and violations of consumer protection laws, CEO Tim Sloan stepped down in 2019.

5. Goldman Sachs

Goldman Sachs Bank USA ranks fifth, with approximately $758.8 billion in consolidated assets. Goldman Sachs is better known for investment banking, trading and asset and wealth management than for a large retail branch network. Marcus Goldman founded the firm in 1869 after setting up an office for trading commercial paper in New York City. Goldman Sachs Bank USA had two domestic branches as of June 30, 2026.

6. U.S. Bank/U.S. Bancorp

U.S. Bank, part of U.S. Bancorp, ranks sixth with approximately $705.6 billion in consolidated assets. The bank has a large presence across the Midwest and West and offers consumer, business, commercial and wealth management services. The Federal Reserve reported 2,097 domestic U.S. Bank branches as of June 30, 2026.

The current bank is the result of many mergers and acquisitions of major regional banks, including Old National Bank, Heritage Bank, People’s National Bank, Northwestern Commercial Bank, Heart Federal Savings and Loan and West One Bancorp. In 1997, First Bank System acquired and renamed what is now U.S. Bancorp, only to come under the control of Firstar Corporation in 2000.

The newly consolidated bank kept the U.S. Bancorp name (since 1933, the law has prohibited banks from using “United States” in their names). It has since acquired many more banks such as Pacific Century Bank, Bay View Bank, Vail Banks, Downey Savings and Loan and Charter One Bank.

7. Capital One

Capital One provides credit cards, auto loans, checking and savings accounts and other financial services. Originally known primarily as a credit card company, Capital One expanded into banking beginning in the 2000s. It completed its acquisition of Discover Financial Services in May 2025, combining two major consumer-finance businesses. Capital One Bank held approximately $662.2 billion in consolidated assets and operated 243 domestic branches as of June 30, 2026.

8. PNC

Pittsburgh-based PNC is a large regional financial institution with a substantial presence across the eastern and central United States. PNC Bank held approximately $609.8 billion in consolidated assets and had 2,376 domestic branches as of June 30, 2026.

An acronym for two different banks, PNC stands for both Pittsburgh National Corporation and Providence National Corporation. When the two Pennsylvania banks merged to form the beginnings of the current company, they decided to use just the acronym because of the coincidence of their acronyms. PNC was an early adopter of “virtual wallet” services among traditional banks.

9. Truist Bank

Truist Bank came into existence in 2019 through the merger of SunTrust and BB&T. The bank offers consumer and commercial banking, investing, wealth management and other financial services. As of June 30, 2026, Truist held approximately $548.3 billion in consolidated assets and operated 1,927 domestic branches.

The bank’s holdings are quite wide-ranging, as it holds various arms that cover insurance, investing, wealth management and more. It also boasts one of the largest pools of branch locations, as it currently operates 1,927 domestic branches.

10. Bank of NY Mellon

BNY, whose legal parent remains The Bank of New York Mellon Corporation, ranks 10th with approximately $425.1 billion in consolidated bank assets. The company simplified its umbrella brand from BNY Mellon to BNY in 2024. Unlike large consumer banks that focus heavily on checking accounts, credit cards and mortgages, BNY primarily serves institutions, corporations and affluent clients through custody, clearing, investment management and wealth management services.

Honorable Mention: TD Bank

TD Bank is the U.S. banking subsidiary of Canada’s Toronto-Dominion Bank. As of June 30, 2026, TD Bank ranked 13th among U.S. domestically chartered commercial banks, with approximately $342.8 billion in consolidated assets and 1,048 domestic branches. Its U.S. bank headquarters are in Wilmington, Delaware.

Frequently Asked Questions (FAQs) for the Largest Banks

We’ve compiled a list of frequently asked questions regarding the top banks in America by assets held and have answered each below:

Tips for Choosing a Bank Account

• Your checking, savings and other bank accounts can play a large role in your overall financial plan. A financial advisor can help you determine if your banking choices fall in line with your overall goals. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
• If your local bank’s fees seem high, consider trying a national bank that offers online accounts or an online bank that has no physical branches. To increase their customer base, these banks often have lower requirements to avoid fees and offer higher interest rates on savings.

Source: Federal Reserve

Photo credit: ©iStock.com/Warchi, ©iStock.com/fizkes