--- title: "The 15 Largest Banks in the US in 2026: By Assets, Deposits, and Branches" date: 2026-07-08 author: "Steven Burnett" featured_image: "https://coinlaw.io/wp-content/uploads/2026/06/the-15-largest-banks-in-the-us.jpg" categories: - name: "Banking" url: "/banking.md" tags: - name: "Statistics" url: "/tag/statistics.md" --- # The 15 Largest Banks in the US in 2026: By Assets, Deposits, and Branches JPMorgan Chase held **$3,752,662 million** in consolidated assets at year-end 2025, leading the US banking sector by a wide margin over Bank of America **($2,636,823 million)**, Citigroup **($1,836,436 million)**, and Wells Fargo **($1,822,693 million)**, per the Federal Reserve’s Large Commercial Banks ranking. The picture changes the moment you switch measures. Rank by deposits and Bank of America moves closer; rank by domestic branches and Wells Fargo overtakes Citi by a factor of more than six; rank by retail footprint and three of the top 11 banks (Goldman Sachs Bank USA, BNY Mellon, State Street) effectively disappear. Every figure below carries a date stamp and a primary source. ## Key Takeaways - JPMorgan Chase held **$3,752,662 million** in consolidated assets at December 31, 2025, more than the combined assets of Citigroup ($1,836,436 million) and Wells Fargo ($1,822,693 million) at the same date. - The FDIC reported **4,278** insured commercial banks and savings institutions in Q1 2026, with aggregate net income of **$80.5 billion** and a return on assets ratio of **1.26%**. - Bank of America reported average deposit balances of **$2.02 trillion** in the first quarter of 2026, including **$951 billion** in Consumer Banking deposits and **38.5 million** consumer checking accounts. - Goldman Sachs Bank USA ranked **\#7** among US commercial banks by consolidated assets ($644,997 million) while operating just **2** domestic branches at year-end 2025, illustrating how custody and wholesale banks distort retail rankings. - Full-year **2025** US banking industry net income reached **$295.6 billion**, a **10.2%** increase from 2024, across the **4,336** insured institutions reporting at year-end. - JPMorgan Chase reported Q1 2026 net income of **$16.5 billion** (up **13%** year-over-year), CET1 capital of **$291 billion**, and a record **$11.6 billion** in markets revenue. - Industry-wide deposits at all US commercial banks grew at a **+12.5%** annualized rate in May 2026 and at **+3.8%** for full-year 2025, per the Federal Reserve H.8 release dated June 18, 2026. ## Editor’s Choice - JPMorgan Chase: **$3,752,662 million** in consolidated assets and **5,085** domestic branches as of December 31, 2025. - Bank of America: **$2.02 trillion** in average deposits and **\#1** in U.S. Consumer Deposits per its 1Q26 disclosure. - Citigroup: **$1,836,436 million** in consolidated assets, but only **662** domestic branches at year-end 2025. - Wells Fargo: **$1,822,693 million** in consolidated assets and **4,139** domestic branches at year-end 2025. - Goldman Sachs Bank USA: **$644,997 million** in consolidated assets and **2** domestic branches at year-end 2025. - JPMorgan Chase Q1 2026: revenue of **$50.5 billion** managed basis, ROE of **19%**, and **+28%** year-over-year growth in [investment banking](https://coinlaw.io/investment-banking-industry-statistics/) fees. - Bank of America 1Q26: net income of **$8.6 billion**, EPS of **$1.11**, and ROE of **12.0%**. ## Largest US Banks by Total Assets - JPMorgan Chase ranks **\#1** at **$3,752,662 million** in consolidated assets, the only US commercial bank above the **$2,636,823 million** held by second-place Bank of America. - Bank of America ranks **\#2** at **$2,636,823 million**, headquartered in Charlotte, NC. - Citigroup ranks **\#3** at **$1,836,436 million**, with its lead bank (Citibank NA) headquartered in Sioux Falls, SD. - Wells Fargo ranks **\#4** at **$1,822,693 million**, behind Citigroup’s **$1,836,436 million** at year-end 2025. - U.S. Bancorp ranks **\#5** at **$676,125 million** and operates **2,108** domestic branches. - Capital One ranks **\#6** at **$658,464 million**, holding only **258** branches despite its consumer-credit franchise scale. - Goldman Sachs Bank USA ranks **\#7** at **$644,997 million** with **2** domestic branches. - PNC Bank ranks **\#8** at **$568,338 million** with **2,304** branches across Wilmington, DE-headquartered operations. RankBankHolding CompanyHQConsolidated Assets ($M)Domestic Branches1JPMorgan Chase Bank NAJPMorgan Chase & CoColumbus, OH3,752,6625,0852Bank of America NABank of America CorpCharlotte, NC2,636,8233,6063Citibank NACitigroupSioux Falls, SD1,836,4366624Wells Fargo Bank NAWells Fargo & CoSioux Falls, SD1,822,6934,1395U.S. Bank NAU.S. BancorpCincinnati, OH676,1252,1086Capital One NACapital One FinancialMcLean, VA658,4642587Goldman Sachs Bank USAGoldman Sachs GroupNew York, NY644,99728PNC Bank NAPNC Financial ServicesWilmington, DE568,3382,3049Truist BankTruist FinancialCharlotte, NC539,5191,92710Bank of New York MellonBNY Mellon CorpNew York, NY380,997111State Street Bank & TrustState Street CorpBoston, MA360,681n/a12TD Bank NATD Group US HoldingsWilmington, DE346,1881,10013Morgan Stanley Private BankMorgan StanleyPurchase, NY254,706n/a14Morgan Stanley Bank NAMorgan StanleySalt Lake City, UT253,348n/a15BMO Bank NABMO Financial CorpChicago, IL252,0741,000*Source: Federal Reserve Large Commercial Banks release dated March 27, 2026 (data as of December 31, 2025)* ## Big Four Asset Concentration Trend 2009 to 2025 - JPMorgan Chase ($3,752,662 million), Bank of America ($2,636,823 million), Citigroup ($1,836,436 million), and Wells Fargo ($1,822,693 million) lead the Federal Reserve Large Commercial Banks ranking at year-end 2025. - Industry-wide total assets at all US commercial banks grew **+4.0%** in 2025 and at **+11.1%** annualized in April 2026, per Federal Reserve H.8 data dated June 18, 2026. - The concentration story is real, but it has also been remarkably stable since 2009, a nuance most market commentary skips. - Total liabilities at US commercial banks grew **+3.7%** in 2025 and at **+11.9%** annualized in May 2026, per the H.8 release dated June 18, 2026. PeriodBig Four Combined AssetsNotable Concentration Marker2025 year-end~$10.05 trillionBig Four ≈ 42% of US commercial bank assets2025 industry growthTotal assets +4.0%H.8 industry total ~$24 trillionQ1 2026 industry+6.8% annualizedDeposits +6.1% annualizedMay 2026 industry+9.6% annualizedDeposits +12.5% annualized*Source: Federal Reserve Large Commercial Banks (December 31, 2025); Federal Reserve H.8 (June 18, 2026)* > **By the numbers:** At year-end 2025, JPMorgan Chase ($3,752,662 million), Bank of America ($2,636,823 million), Citigroup ($1,836,436 million), and Wells Fargo ($1,822,693 million) led the Federal Reserve’s Large Commercial Banks ranking, against an H.8 industry total whose 2025 growth rate was **+4.0%**. ## Recent Developments - **May 27, 2026**: The FDIC released its Q1 2026 Quarterly Banking Profile, reporting **4,278** insured institutions, aggregate net income of **$80.5 billion**, a return on assets of **1.26%**, and a net interest margin of **3.31%**. - **April 15, 2026**: Bank of America reported first-quarter 2026 net income of **$8.6 billion** (up **17%** year-over-year), revenue of **$30.3 billion**, and average deposits of **$2.02 trillion** (the 11th consecutive growth quarter). - **April 11, 2026**: JPMorgan Chase reported Q1 2026 net income of **$16.5 billion** (up **13%** year-over-year), EPS of **$5.94**, and CET1 capital of **$291 billion**. - **March 27, 2026**: The Federal Reserve posted the December 31, 2025, Large Commercial Banks ranking, the quarterly LBR snapshot used throughout this analysis. - **February 24, 2026**: The FDIC released its Q4 2025 Quarterly Banking Profile, reporting **4,336** insured institutions and full-year 2025 net income of **$295.6 billion** (up **10.2%** from 2024). - **February 13, 2026**: JPMorgan Chase & Co. filed its FY2025 Form 10-K with the SEC (accession number 0001628280-26-008131), continuing an unbroken annual filing cadence in recent years. ## Largest US Banks by Deposits - Bank of America reported average deposit balances of **$2.02 trillion** in the first quarter of 2026, up **3%** year-over-year, the 11th consecutive quarter of deposit growth. - Bank of America’s Consumer Banking segment averaged **$951 billion** in deposits, ranking **\#1** in U.S. Consumer Deposits per the bank’s own first quarter 2026 disclosure. - JPMorgan Chase reported average deposits up **7%** year-over-year and **1%** quarter-over-quarter at Q1 2026, alongside cash and marketable securities of **$1.5 trillion**. - Across the US banking industry, domestic deposits grew **2.1%** quarter-over-quarter in Q1 2026 (the seventh consecutive quarterly increase), per the FDIC’s Q1 2026 QBP. - H.8 industry data shows deposits expanding at **+8.9%** annualized in April 2026 and **+12.5%** annualized in May 2026. BankDeposit MeasureValueAs-Of PeriodBank of AmericaAverage total deposits$2.02 trillionQ1 2026Bank of AmericaConsumer Banking average deposits$951 billionQ1 2026JPMorgan ChaseCash and marketable securities$1.5 trillionQ1 2026US industryDomestic deposit growth QoQ+2.1%Q1 2026US industryH.8 deposit growth annualized+12.5%May 2026*Source: Bank of America Q1 2026 earnings (April 15, 2026); JPMorgan Chase Q1 2026 earnings (April 11, 2026); FDIC QBP Q1 2026 (May 27, 2026); Federal Reserve H.8 (June 18, 2026)* Bank deposit safety tracks closely with the broader [bank branch closure trend](https://coinlaw.io/bank-branch-closure-statistics/) that the FDIC publishes alongside the QBP. Only a handful of small-bank resolutions have occurred in the current year so far, against an industry of more than 4,200 insured institutions. ## Largest US Banks by Domestic Branches - JPMorgan Chase operates **5,085** domestic branches at year-end 2025, the highest branch count among the banks in the Federal Reserve ranking. - Wells Fargo follows with **4,139** domestic branches at year-end 2025, despite ranking **\#4** by consolidated assets. - Bank of America operates **3,606** domestic branches at year-end 2025. - Citigroup, by contrast, operates only **662** domestic branches, a fraction of Wells Fargo’s footprint despite a higher asset ranking (#3 vs #4). - PNC Bank operates **2,304** domestic branches, U.S. Bancorp **2,108**, and Truist Bank **1,927** at year-end 2025. - Custody and wholesale banks operate negligible retail footprints: Goldman Sachs Bank USA has **2** domestic branches and BNY Mellon has **1** at year-end 2025, while State Street is a custody bank with no material retail-branch presence in the Federal Reserve ranking. - Morgan Stanley’s two banking subsidiaries (Private Bank and Morgan Stanley Bank NA) appear in the Federal Reserve ranking with no material retail-branch network at year-end 2025. Rank by BranchesBankDomestic BranchesRank by Assets1JPMorgan Chase5,085\#12Wells Fargo4,139\#43Bank of America3,606\#24PNC Bank2,304\#85U.S. Bancorp2,108\#56Truist Bank1,927\#97TD Bank1,100\#128BMO Bank1,000\#159Citigroup662\#310Capital One258\#6*Source: Federal Reserve Large Commercial Banks release dated March 27, 2026 (data as of December 31, 2025)* The Wells Fargo / Citigroup contrast is the cleanest illustration of the rank-by-measure problem. Wells Fargo carries roughly $1.82 trillion in consolidated assets, sitting just below Citigroup, yet [Wells Fargo’s retail footprint](https://coinlaw.io/wells-fargo-statistics/) is more than six times Citigroup’s domestic branch count. A reader asking “which bank is biggest” gets a different answer depending on which page they land on. ## Largest US Banks by Market Capitalization - JPMorgan Chase reported Q1 2026 net income of **$16.5 billion** and EPS of **$5.94**, delivering an ROTCE of **23%**. - JPMorgan Chase’s Total Loss-Absorbing Capacity reached **$572 billion** at the end of Q1 2026, alongside cash and marketable securities of **$1.5 trillion**. - Bank of America reported first quarter 2026 EPS of **$1.11** (up **25%** year-over-year) and an ROE of **12.0%**. - Bank of America’s first quarter 2026 Global Wealth and Investment Management segment generated **$6.7 billion** in revenue (up **12%**), with asset management fees of **$4.2 billion** (up **15%**). - The SEC EDGAR record confirms JPMorgan Chase & Co. (CIK 0000019617) filed seven consecutive annual 10-Ks from FY2019 through FY2025, with the most recent filing dated February 13, 2026. - Share prices move daily, so this article reports the underlying drivers (net income, EPS, ROE, regulatory capital) rather than stale market-cap figures. BankQ1 2026 Net IncomeQ1 2026 EPSQ1 2026 ROECET1 / ROTCEJPMorgan Chase$16.5 billion$5.9419%CET1 $291 billion / ROTCE 23%Bank of America$8.6 billion$1.1112.0%ROTCE 16.0%JPMorgan Chase$16.5 billion$5.9419%TLAC $572 billion*Source: JPMorgan Chase Q1 2026 earnings (April 11, 2026); Bank of America Q1 2026 earnings (April 15, 2026); SEC EDGAR JPMorgan Chase 10-K filings index* ## Wholesale and Custody Banks: A Separate Tier - Goldman Sachs Bank USA ranked **\#7** among US commercial banks by consolidated assets at **$644,997 million** while operating just **2** domestic branches at year-end 2025. - Bank of New York Mellon ranked **\#10** at **$380,997 million** in consolidated assets, with only **1** domestic branch at year-end 2025. - State Street Bank & Trust ranked **\#11** at **$360,681 million** in consolidated assets at year-end 2025, operating as a custody bank with no material retail-branch presence. - Morgan Stanley’s two banking subsidiaries (Private Bank in Purchase, NY, and Morgan Stanley Bank NA in Salt Lake City, UT) hold **$254,706 million** and **$253,348 million** in consolidated assets, respectively, operating with no material retail-branch network. - Goldman and Morgan Stanley are investment banks; BNY Mellon and State Street are custody banks. Listicles that bundle them with deposit-taking giants mislead retail readers about what “biggest” means here. Bank by Consolidated Assets ($M) CONSOLIDATED ASSETS ($M) · Consolidated Assets ($M) · Source: Federal Reserve Large Commercial Banks release dated March 27, 2026 (data as of December 31, 2025) CONSOLIDATED ASSETS ($M) · COINLAW ANALYSIS Bank by Consolidated Assets ($M) Consolidated Assets ($M) Federal Reserve · 2026 Goldman Sachs Bank USA 644,997 Bank of New York Mellon 380,997 State Street Bank & Trust 360,681 Morgan Stanley Private Bank 254,706 Morgan Stanley Bank NA 253,348 0 160K 320K 480K 640K 800K SOURCE Federal Reserve Large Commercial Banks release dated March 27, 2026 (data as of December 31, 2025) > **Worth noting:** Three of the top 11 US commercial banks by assets. Goldman Sachs Bank USA ($644,997 million, 2 branches), BNY Mellon ($380,997 million, 1 branch), and State Street ($360,681 million), all operate negligible retail-branch footprints relative to their asset rank, confirming that “asset rank” is a poor proxy for “retail presence” for the wholesale and custody tier. ## JPMorgan Chase: The Industry Leader - JPMorgan Chase reported 1Q26 net income of **$16,494 million** ($5.94 EPS diluted) versus **$14,643 million** ($5.07 EPS) in 1Q25, an increase of **13%** in net income and **17%** in EPS. - Q1 2026 managed net revenue reached **$50.5 billion** (up **10%** year-over-year), with reported revenue of **$49.8 billion**. - JPMorgan’s Q1 2026 ROE was **19%**, and ROTCE was **23%**, with a managed overhead ratio of **53%**. - Markets revenue reached a record **$11.6 billion** in Q1 2026, with Investment Banking fees up **28%** year-over-year and JPMorgan holding the **\#1** ranking for Global Investment Banking fees. - Basel III Common Equity Tier 1 capital stood at **$291 billion** at Q1 2026, with a standardized CET1 ratio of **14.3%** and an advanced ratio of **14.1%**. - Average loans of **$1.5 trillion** grew **11%** year-over-year and **2%** quarter-over-quarter at Q1 2026, while credit costs were **$2.5 billion**, including a **$191 million** net reserve build. - At year-end 2025 (per Federal Reserve LBR), JPMorgan Chase Bank NA held **$3,752,662 million** in consolidated assets and operated **5,085** domestic branches. MetricQ1 2026Q1 2025YoY ChangeNet income$16.5 billion$14.6 billion+13%Managed net revenue$50.5 billionn/a+10%EPS diluted$5.94$5.07+17%ROE19%n/an/aROTCE23%n/an/aCET1 capital$291 billionn/an/aTLAC$572 billionn/an/aMarkets revenue$11.6 billion (record)n/an/aIB feesn/an/a+28%*Source: JPMorgan Chase first-quarter 2026 earnings release (April 11, 2026)* **JPMorgan’s filing cadence is unbroken:** The [JPMorgan Chase statistics page](https://coinlaw.io/jpmorgan-chase-statistics/) tracks the full disclosure history, and the SEC EDGAR record confirms seven consecutive annual 10-Ks from FY2019 through FY2025. ## Bank of America: The Deposit Franchise - Bank of America reported first quarter 2026 net income of **$8.6 billion**, EPS of **$1.11** (up **25%** year-over-year), and total revenue of **$30.3 billion** (up **7%**). - Net interest income reached **$15.7 billion** in the first quarter of 2026 (up **9%** year-over-year), against noninterest expense of **$18.5 billion** (up **4%**), yielding an efficiency ratio of **61%** (improved approximately **170 basis points**). - Average deposits totaled **$2.02 trillion** in the first quarter of 2026 (up **3%** year-over-year), the 11th consecutive growth quarter. - Consumer Banking generated first quarter 2026 revenue of **$11.0 billion** (up **5%**) and net income of **$3.1 billion**, with average loans and leases of **$322 billion** (up **2%**). - Bank of America serves **38.5 million** consumer checking accounts (**91%** primary) and **4.1 million** small business checking accounts. - Combined credit and debit card spend reached **$245 billion** (up **7%**), digital logins hit **4.3 billion**, and **71%** of total sales were digitally enabled in the first quarter of 2026. - Global Wealth and Investment Management revenue was **$6.7 billion** (up **12%**), with asset management fees of **$4.2 billion** (up **15%**). - First quarter 2026 ROE was **12.0%**, ROTCE was **16.0%**, and return on average assets was **0.99%**. Segment / MetricQ1 2026 ValueYoY ChangeNet income$8.6 billion+17%Total revenue$30.3 billion+7%Net interest income$15.7 billion+9%Average deposits$2.02 trillion+3%Consumer Banking deposits$951 billionn/aConsumer checking accounts38.5 millionn/aCombined card spend$245 billion+7%Digital logins4.3 billionn/a*Source: Bank of America first-quarter 2026 earnings release (April 15, 2026)* Bank of America’s deposit franchise sits inside a broader [digital banking adoption](https://coinlaw.io/digital-banking-statistics/) shift; its sales mix is heavily digitally enabled, against an industry deposit base that has grown for seven consecutive quarters per the FDIC. ## The Industry Backdrop: FDIC Quarterly Banking Profile - The FDIC reported **4,278** insured commercial banks and savings institutions in the first quarter of 2026 (down from **4,336** in the fourth quarter of 2025), aggregate net income of **$80.5 billion** (up **3.6%** quarter-over-quarter), and a return on assets ratio of **1.26%**. - Net income among community banks increased **3.9%** from the prior quarter in Q1 2026. - Industry net interest margin declined **8 basis points** from the prior quarter to **3.31%** as earning asset yields declined faster than funding costs. - Domestic deposits grew **2.1%** in Q1 2026, the seventh consecutive quarterly increase, while loan growth accelerated to **7.1%** annual growth. - The Deposit Insurance Fund reserve ratio increased **1 basis point** to **1.43%** in Q1 2026. - Full-year 2025 industry net income reached **$295.6 billion**, a **10.2%** increase from 2024, across **4,336** insured institutions reporting at year-end. - Q4 2025 industry net income was **$77.7 billion** (a decrease of **$1.6 billion** or **2.0%** from the prior quarter), with a return on assets of **1.24%** and a net interest margin of **3.39%**. MetricQ1 2026Q4 2025Q1 2026 vs Q4 2025Insured institutions4,2784,336-58Aggregate net income$80.5 billion$77.7 billion+$2.8 billion (+3.6%)Return on assets1.26%1.24%+2 bpsNet interest margin3.31%3.39%-8 bpsDomestic deposit growth QoQ+2.1%+1.8%+30 bpsDIF reserve ratio1.43%1.42%+1 bp*Source: FDIC Quarterly Banking Profile Q1 2026 (May 27, 2026) and Q4 2025 (February 24, 2026)* > **The takeaway:** The Q1 2026 FDIC QBP showed **4,278** insured institutions generating **$80.5 billion** in aggregate net income at a return on assets of **1.26%**, against full-year 2025 industry net income of **$295.6 billion** (up **10.2%** from 2024) across **4,336** institutions, strong industry-level health that coexists with persistent Big Four concentration. This concentration question is the same one the global systemically important banks (G-SIB) framework was designed to address, with JPMorgan Chase carrying the highest US G-SIB capital surcharge and other top US banks also designated as G-SIBs. The deep dive on [Bank of America’s role](https://coinlaw.io/bank-of-america-statistics/) inside that designation is a useful companion read. ## How Many Banks Are in the US - The FDIC reported **4,278** insured commercial banks and savings institutions in the first quarter of 2026, down from **4,336** in the fourth quarter of 2025. - Q1 2026 aggregate net income was **$80.5 billion** at a return on assets of **1.26%**. The long-term decline in the institution count is driven by mergers and acquisitions, not failures. ## Which is the Largest Bank in the US by Deposits - Bank of America leads U.S. Consumer Deposits with **$951 billion** in average Consumer Banking balances in the first quarter of 2026 (the **\#1** US Consumer Deposits ranking per its own release). - Firmwide, Bank of America’s total average deposits reached **$2.02 trillion** in the first quarter of 2026 (up **3%** year-over-year). - JPMorgan Chase reported firmwide average deposits up **7%** year-over-year in the same quarter alongside cash and marketable securities of **$1.5 trillion**. The answer depends on whether the question is about consumer deposits (Bank of America) or firmwide totals (JPMorgan typically leads on the broader measure). ## Has US Bank Concentration Increased Since 2008 - At year-end 2025, the Big Four held consolidated assets of **$3,752,662 million** (JPMorgan), **$2,636,823 million** (Bank of America), **$1,836,436 million** (Citigroup), and **$1,822,693 million** (Wells Fargo) per Federal Reserve LBR data. - Federal Reserve H.8 industry totals show 2025 total asset growth of **+4.0%** and total liabilities growth of **+3.7%**. ## Conclusion The 15 largest US banks at year-end 2025 are led by JPMorgan Chase at **$3,752,662 million** in consolidated assets, followed by Bank of America ($2,636,823 million), Citigroup ($1,836,436 million), and Wells Fargo ($1,822,693 million). JPMorgan Chase leads the top five on retail branches (**5,085**), with Wells Fargo second (**4,139**), Bank of America leads on consumer deposits (**$951 billion** Consumer Banking average), and Goldman Sachs Bank USA sits at rank **\#7** by assets while operating only **2** domestic branches. The data benefits researchers comparing concentration trajectories, business banking customers evaluating deposit relationships, and fintech intelligence teams. The next FDIC QBP and the next Federal Reserve LBR will refresh these figures on the same quarterly cadence.