Ten Largest Banks in the U.S.

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The Move Your Money campaign peaked a few weeks ago but in our household we still haven’t yet made the change from a large bank to a local community bank or credit union. Part of the reason is inertia, the center spoke in our financial network map if our Bank of America account, but we’re working on it! 🙂

As I was doing some research for some unrelated projects, I discovered a useful resource at the FDIC. I’m always a fan of mostly useless trivia (this certainly falls in that category) so I was delighted to find a list of the largest banks in the United States. The FDIC captures all of this data for FDIC insured institutions, which is great, but it’s only updated annually, so this data is from June 30, 2011.

I bet you can name most of the banks on this list but I’d be surprised if you could name them all.

Ten Largest Banks in the U.S.

So which are the ten largest banks by deposits?

  1. Bank of America: $1,066.6b in deposits, TARP participant.
  2. Wells Fargo: $793.6b in deposits, TARP participant.
  3. JPMorgan Chase: $768.9b in deposits, TARP participant.
  4. Citibank: $320.1b in deposits, TARP participant.
  5. US Bancorp: $198.4b in deposits, TARP participant.
  6. PNC Bank: $180.7b in deposits, TARP participant.
  7. Toronto-Dominion (TD) Bank: $151.4b in deposits, as a Canadian bank it was not eligible for TARP funds.
  8. Capital One Financial: $129.2b in deposits, TARP participant.
  9. Sun Trust: $126.7b in deposits, TARP participant.
  10. Bank of New York Mellon: $114.2b in deposits, TARP participant.
  11. BB&T: $111.3b in deposits, TARP participant. (11th!)

With respect to the TARP, participation in the program isn’t an indication of bank health as many banks were forced to participate even if they didn’t want to.

This deposits information is available in the FDIC’s Share of Deposits report, which ” contains deposit data for branches and offices of all FDIC-insured institutions. The Federal Deposit Insurance Corporation (FDIC) collects deposit balances for commercial and savings banks as of June 30 of each year, and the Office of Thrift Supervision (OTS) collects the same data for savings institutions.” Here the results for the top 50 bank holding companies by total domestic deposits as of June 2011.

TARP information was taken from Wikipedia.

How many did you get right? I only got the first four banks (and not in the correct order… though I did know BoA was #1).

{ 24 comments, please add your thoughts now! }

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24 Responses to “Ten Largest Banks in the U.S.”

  1. Shirley says:

    Jim, like you did, I only got the first four and not in order. I thought Wells Fargo would be number one.

  2. Jim says:

    I thought Wells Fargo’s acquisition of Wachovia would put them ahead but I forget just how large Bank of America is (and they acquired Merrill Lynch).

  3. Chuck says:

    “Move your money” is a great idea. If these banks are too big to fail, you can help make them smaller.

    I used Bank of America for years, but a couple years ago I moved to a local credit union, just to get away from BoA’s ridiculous fees and poor service. I still have my checking account, because I make check deposits in a BoA ATM then ACH the money to my credit union. 🙂

  4. zapeta says:

    I got 5, but definitely not in the right order.

  5. jsbrendog says:

    wow, i got 5 but not in order…is there a direct correlation between being the biggest bank and suckitude (hate BoA)

  6. Conviktd says:

    Let’s put an asterik next to those banks that have paid their TARP money back already! Then you’ll really see who’s strong among the Top 10.

    • Eric says:

      You really can’t look at who paid back most of or all of borrowed TARP money to calculate who is in the best shape. Many banks including BofA and Chase paid back monies they, as companies, were not in a position to do in all reality. These companies made these decisions to get away from the govt. oversight which the TARP funds generated. A stronger analysis would be generated by looking at lending dollars, deposits, and proejcted loss rates.

      • Conviktd says:

        First, I completely agree that balance sheets and loan portfolios are a greater indicator of strenth.

        Additionaly, banks that have paid back TARP funds are not created equal. Some were required to pass stringent stress tests while others seemed to trail behind and got to slip the money back without much notice.

        This is exactly my point. (apologies for the brief initial comment)

        What could we learn about HOW our banks are run by analyzing the repayment of TARP funds by these banks? I believe we’d be able to see who really got bailed out and THAT is what consumers need to know.

        It’s not about big banks vs small banks.

        It’s about well run banks vs poorly (or greedily) run banks.

        • Adam L says:

          Good points. Wells Fargo and JP Morgan Chase are very large well managed banks that have made smart decisions and emerged relatively unscvathed by the recent market turmoil. BAC and Citi have been mismanaged for years since their “spiritual leaders” retired.

  7. CK says:

    Wow BoA is big. I knew it was King Kong but it dwarfs everyone else.

  8. ziglet19 says:

    I only was able to name four.

  9. Chris says:

    $907.3 billion….and over $1.4 trillion in assets. They could be their own country.

  10. Kami says:

    Yeah I am just happy to see my credit union isnt on that list. I dont need to be with the biggest bank to get good customer service and a fair fee structure. Move your MONEY!

  11. eric says:

    For some reason I thought Citi would be higher.

  12. I knew Suntrust and PNC were becoming larger banks, but never knew they were the top ten. Pretty surprising.

  13. ebekele says:

    I got 5. I knew b of a would be #1 with all their fees + merrill…

  14. Sarah says:

    I just need so very badly someone out there who has a great miracle enought that would be kind to loan me three billion usd, low rates then I’ll borrow The FED ,nine billion usd; then I’ll buy ten from The Treasure for 30 years with 4%.Thanks! GOD BLESS YOU INDEED!Sarah

  15. Eric says:

    I hate all banks,!!!!!

  16. John says:

    B of A pushed me over the ledge a year ago when they raised the interest rate on my credit card balance to 28.9%. I had never missed a payment. I called my other B of A card and got a large cash advance, then called on the first card and demanded they restore my original low rate. They refused and I have never made another payment on either card or my others when they followed suit. B of A drove me to the dark side, I burned the top 4 here and don’t feel bad. Screw them.

  17. UTS says:

    Capital One…What’s in your wallet? are they 8th largest?

  18. william says:

    i come for a very poor family even to eat is difficult to us we don’t even go to school,we are looking for some one who can take care of us to send us to school please sir do help us.
    i await your respond

  19. Cody says:

    Concerning TARP money these nine banks should’ve been made to loan these monies to small business and real home buyers and or others of this type. But instead it was the smallest amount of loans to go out but the biggest profit since 1942. You cant give crook$ $125 BILLION and expect them to do right, they’ll just do the same and keep going and to hell with AMERICA because they are world wide and can go, do, live anywhere thats why the have to be regulated and broken up they are monopolies. Corporate thinking is bigger is better and it is for them not for us.

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