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 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.

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.

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%.

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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.

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 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.

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 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.

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.

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.

Source: JPMorgan Chase first-quarter 2026 earnings release (April 11, 2026)

JPMorgan’s filing cadence is unbroken: The JPMorgan Chase statistics page 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%.

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 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%.

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 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.