Top 10 US Commercial Banks by Total Assets — Finance Top 10 List

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Top 10 US Commercial Banks by Total Assets

The US banking system holds $23.7 trillion in total assets, with the Big Four commanding a 42% share. After the 2023 regional bank failures and years of Fed rate normalization, America's largest banks remain among the most systemically important financial institutions on the planet.

Location: US2026185 viewsJul 15, 2026 Updated Oct 3, 2026

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#1
JPMorgan Chase
Its 300,000 employees support a global network designated systemically important since the post-2008 reforms. Under CEO Jamie Dimon, who took the job in 2006, the bank has consistently led its peers on profitability, posting a 17.5% return on equity in 2024.
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#2
Bank of America
Bank of America holds roughly $3.3 trillion in assets, second among US banks to JPMorgan Chase, and employs about 213,000 people from its headquarters in Charlotte, North Carolina. Its wealth management business rests on the $50 billion all-stock purchase of Merrill Lynch agreed during the 2008 financial crisis and completed in January 2009.
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#3
Wells Fargo
Wells Fargo holds about $1.9 trillion in assets, well short of JPMorgan Chase at the top of this list. The fake-accounts scandal that surfaced in 2016 brought over $3 billion in fines and a Federal Reserve asset cap, imposed in 2018, that constrained the bank's growth for years. Headquartered in San Francisco, it employs roughly 220,000 people who now work under a heavily rebuilt compliance regime.
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#4
Citigroup
Citigroup holds around $2.4 trillion in assets and operates in close to 160 countries and jurisdictions, the widest international footprint of any US bank. Under Jane Fraser it has been shrinking on purpose - exiting most of its overseas consumer banking businesses and flattening a management structure widely blamed for its costs - in an effort to close a long-standing gap between its returns and those of its US peers.
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#5
Goldman Sachs
Goldman Sachs appears on this list through Goldman Sachs Bank USA, its deposit-taking subsidiary; the firm has no retail branch network. Its attempt to build a consumer business under the Marcus brand was unwound from 2023 — it sold GreenSky, stopped originating consumer loans, and moved to exit the Apple Card — after the unit lost roughly $3 billion across 2020 to 2022. Advisory and trading remain the firm's centre of gravity, and it regularly leads the global M&A league tables.
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#6
Morgan Stanley
Morgan Stanley's shift under James Gorman from a trading-led investment bank into a wealth and investment management franchise was built on two acquisitions: E*Trade for about $13 billion in 2020 and Eaton Vance for about $7 billion in 2021. Wealth management now supplies close to half of firm revenue, against roughly $1.2 trillion of balance-sheet assets.
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#7
U.S. Bancorp
U.S. Bancorp is the parent of U.S. Bank, the fifth-largest commercial bank in the United States at roughly $680 billion in assets. Headquartered in Minneapolis, it pairs a branch network concentrated in the Midwest and West with a payments business - merchant acquiring through Elavon, plus corporate and purchasing cards - that most banks its size do not have. Its 2022 acquisition of MUFG Union Bank added a California retail footprint.
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#8
PNC Financial Services
PNC Financial Services vaulted into the top tier of US regional banking with its $11.5 billion acquisition of BBVA USA in 2021, which extended its Sun Belt footprint and took it to roughly $560 billion in assets across about 2,600 branches. It generates around $23 billion in annual revenue.
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#9
Truist Financial
Truist Financial was formed by the 2019 merger of BB&T and SunTrust, a roughly $66 billion all-stock deal and the largest US bank merger since the financial crisis. It holds around $530 billion in total assets, is headquartered in Charlotte, North Carolina, and the combination targeted $1.6 billion in annual cost savings.
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#10
Capital One
Capital One is a McLean, Virginia bank built primarily around credit cards rather than branch deposits, with roughly $480 billion in total assets. Its acquisition of Discover Financial, announced in early 2024 and completed in 2025, brought with it Discover's payment network — making Capital One one of very few US issuers that also owns the rails its cards run on.
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Frequently asked questions

Which US commercial bank has the most total assets?

JPMorgan Chase is the largest US commercial bank by total assets, consistently holding over $3 trillion in assets.

What are total assets in banking?

Total assets include loans, securities, cash, and other holdings on a bank's balance sheet, representing the overall size of the institution.

Are the top 10 US commercial banks by total assets the same as the largest US banks overall?

Not exactly; the list of top commercial banks by assets excludes investment banks and foreign-owned banks, focusing only on federally insured US commercial banks.

How often do the rankings of top US commercial banks by total assets change?

Rankings can shift quarterly after earnings reports, especially when major mergers or acquisitions occur, but the largest banks often maintain their positions.

Where can I find the official current list of the top 10 US commercial banks by total assets?

You can find the up-to-date list from the Federal Reserve's quarterly reports or from reputable financial data providers like S&P Global Market Intelligence.