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Ranked: The 25 Largest U.S. Banks by Assets
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Banks are a cornerstone of the U.S. economy, facilitating everything from consumer deposits to corporate lending and investment banking.
The U.S. has over 4,000 banks operating at different scales, from small- and mid-sized regional banks to globally-recognized investment banks.
This infographic highlights the 25 largest U.S. banks by total assets as of Q4 2024, based on regulatory filings compiled by S&P Global Market Intelligence.
America’s Biggest Banks by Total Assets
A bank’s assets typically include various types of loans, leases, investments in securities, and cash.
The four largest U.S. banks—JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo—hold more than $11.5 trillion in combined assets, representing over 50% of the total across the top 25 banks.
Here’s the full ranking of the top 25 largest U.S. banks by total assets in USD:
| Rank | Company | Total Assets |
|---|---|---|
| 1 | JPMorgan Chase & Co. | $4.0T |
| 2 | Bank of America Corp. | $3.3T |
| 3 | Citigroup Inc. | $2.4T |
| 4 | Wells Fargo & Co. | $1.9T |
| 5 | Goldman Sachs Group Inc. | $1.7T |
| 6 | Morgan Stanley | $1.2T |
| 7 | U.S. Bancorp | $678B |
| 8 | Capital One Financial Corp. | $638B |
| 9 | PNC Financial Services Group Inc. | $560B |
| 10 | TD Group US Holdings LLC | $540B |
| 11 | Truist Financial Corp. | $531B |
| 12 | Charles Schwab Corp. | $480B |
| 13 | Bank of New York Mellon Corp. | $416B |
| 14 | State Street Corp. | $353B |
| 15 | BMO Financial Corp. | $293B |
| 16 | American Express Co. | $272B |
| 17 | HSBC North America Holdings Inc. | $230B |
| 18 | First Citizens BancShares Inc. | $224B |
| 19 | United Services Automobile Association (USAA) | $221B |
| 20 | Citizens Financial Group Inc. | $218B |
| 21 | Fifth Third Bancorp | $213B |
| 22 | UBS Americas Holding LLC | $212B |
| 23 | M&T Bank Corp. | $208B |
| 24 | Huntington Bancshares Inc. | $204B |
| 25 | Ally Financial Inc. | $192B |
| - | Total (Top 25) | $21.1T |
JPMorgan Chase & Co. leads the rankings with over $4 trillion in assets. Loans, which include consumer, commercial, and real estate loans, make up one-third or over $1.3 trillion of the bank’s assets, followed by securities and investments at nearly $1.2 trillion.
Bank of America is next on the list with $3.3 trillion in assets, followed by Citigroup and Wells Fargo. Interestingly, Wells Fargo also has the second-highest number of bank branches in the U.S.—more than 4,000—only behind JPMorgan Chase.
Goldman Sachs and Morgan Stanley, the largest investment banks, hold $1.7 trillion and $1.2 trillion in assets, ranking fifth and sixth, respectively.
U.S. Bank Assets Shrink in Q4 2024
Despite their dominance, the four largest banks saw their combined assets fall by 2.9% or $339.7 billion quarter-over-quarter (QoQ) in Q4 2024, with only Wells Fargo reporting a 0.4% growth in assets. The decline in assets isn’t limited to the top four, as the 50 largest banks in the U.S. had an overall decrease in assets of $436.8 billion compared to last quarter.
JPMorgan Chase reported a 4.9% decline in assets QoQ, while starting a round of layoffs in February with more planned for 2025. Meanwhile, Bank of America and Citigroup also reported declines 1.9% and 3.2% in assets, respectively.
Despite the recent slowdown, bank executives anticipate an increase in loan and deposit growth in 2025 according to S&P Global, which could help boost banks’ balance sheets over the coming year.
Learn More on the Voronoi App
How do America’s largest banks stack up against the largest banks globally? Find out in this graphic which ranks the world’s 12 largest banks by assets, on the Voronoi app.
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