List of Banks in USA

United States of America (USA) is home to thousands of banks and financial institutions. The Federal Reserve with the help of Federal Deposit Insurance Corporation (FDIC) lists out banks and financial institutions based on asset size and bank name. As of 2021, US had 4,844 insured commercial banks and around 574 savings and loan associations. As per Statista Research Department, 4,135 banks are insured under the FDIC report from 2000-2022. This article categorizes banks into different segments: National, International, Community, Investment, Commercial, Online, Regional and the remaining under financial institutions.

A. List of National Banks

A national bank is a commercial bank that is supervised and chartered by the US treasury. The following national banks list is not exhaustive as there are around 762 national banks across the US, as reported by the Federal Reserve dated 31st October 2023.

Note: The data for total assets and market capitalization are as on 30th September 2023.

Sl. No.	Name of the Bank	Headquarters	Total Assets (in USD Billion)	Market Capitalization (in USD Billion)
1	JP Morgan Chase & Co.	New York City	$3,868	$431.38
2	Bank of America	Charlotte	$3,123	$217.57
3	Citi Group Inc.	New York City	$2,423	$84.56
4	Santander Bank	Boston	$1,941.45	$64.30
5	Wells Fargo & Co.	San Francisco	$1,876	$158.18
6	Goldman Sachs Group, Inc	New York City	$1,577	$110.42
7	TD (Toronto Dominion) Bank	Cherry Hill, New Jersey	$1,413.99	$110.60
8	Morgan Stanley	New York City	$1,164	$128.10
9	U.S. Bancorp	Minneapolis, Minnesota	$668.04	$56.60
10	PNC Financial Services Group	Pittsburgh	$558.20	$49.08
11	Truist Financial Corp.	Charlotte	$554	$41.69
12	Capital One Financial Corp.	McLean, Virginia	$471.44	$41.13
13	Citizens Financial Group	Providence, Rhode Island	$225.3	$11.63
14	Fifth Third Bancorp	Cincinnati	$212.97	$17.09
15	M&T Bank	Buffalo, New York	$209.12	$19.46
16	Ally Financials	Detroit	$195.70	$8.32
17	Huntington Bancshares	Columbus, Ohio	$186.65	$15.77
18	Regions Financial Corporation	Birmingham, Alabama	$153.62	$14.95
19	Discover Financial Services	Riverwood, Illinois	$143.43	$21.65
20	Comerica Bank	Dallas, Texas	$85.70	$5.87

B. List of International Banks

International banks are those which conducts banking and investment activities outside their country of origin. In US, there is a hub of international banks which have expanded there business in the States.

Note: The values of total assets and market capitalization are given as per consolidated company financials as on 30th September, 2023.

Sl. No.	Name of the Bank	Headquarters in USA	Total Assets (in USD Billion)	Market Capitalization (in USD Billion)
1	BNP Paribas (USA)	New York City	$2,891.52	$69.90
2	Barclays US	New York City	$1,940.3	$25.25
3	Société Générale (North America)	New York City	$1,689	$21.95
4	ING Bank	New York City	$1,118 (as on June 2023)	$48.98 (as on June 2023)
5	Intesa Sanpaolo	New York City	$1,038 (as on June 2023)	$49.15 (as on June 2023)
6	Bank of Montreal (BMO)	Chicago, Illinois	$942.23	$57.98
7	Standard Chartered USA	New York City	$825.83	$25.2
8	Credit Suisse Holdings (USA) Inc.	New York City	$575.18	$3.56
9	Commerzbank	New York City	$538.70	$14.13
10	Charles Schwab Corporation	Westlake, Texas	$475.20	$100.50
11	MUFG Americas Holdings Corporation	New York City	$267.6	$106.13
12	HSBC Bank USA	New York City	$223	$117.85
13	Sumitomo Mitsui Banking Corporation (SMBC)	New York City	$196.50	$65.23
14	Mizuho Financial Group	New York City	$183.8	$43.66
15	Deutsche Bank	New York City	$143.5	$23.38
16	UBS	New York City	$110.23	$71.44

C. List of Community Banks

According to FDIC, a bank falls under community bank if it has asset value of less than $10 billion. Basically, community banks are relationship builders who provide conventional banking services to local people. The FDIC reported on June, 2023, that there are around 4,489 community banks chartered across 50 US states. Below is the list of few of them where the values of total assets and market capitalization have been taken as on 30th September, 2023.

Sl. No.	Name of the Bank	Headquarters	Total Assets (in USD Billion)	Market Capitalization (in USD Billion)
1	New York Community Bank	Hicksville, New York	$111.23	$6.65
2	Wintrust Financial	Rosemont, Illinois	$55.55	$5.06
3	Columbia Bank	Tacoma, Washington	$51.98	$4.72
4	Pinnacle Financial Partners	Nashville, Tennessee	$47.52	$5.50
5	PacWest Bancorp (to be merged with Bank of California)	Los Angeles	$36.87	$0.97
6	First Interstate BancSystem	Billings, Montana	$30.54	$2.68
7	United Community Bank	Greenville, South Carolina	$26.86	$2.95
8	Ameris Bancorp	Atlanta	$25.69	$2.96
9	First Hawaiian Bank	Honolulu	$24.91	$2.48
10	Customers Bancorp	Wyomissing, Pennsylvania	$21.85	$1.33
11	Heartland Financial USA	Dubuque, Iowa	$20 .12	$1.31
12	Wesbanco Bank	Wheeling, West Virginia	$17.34	$1.45
13	First BanCorp	San Juan, Puerto Rico	$11.97	$1.33
14	Tri-County Bank	Chico, California	$9.8	NA
15	Tompkins Community Bank	Ithaca, New York	$7.69	$0.7
16	Southern Missouri Bancorp	Poplar Bluff, Missouri	$4.47	$0.44
17	First State Community Bank	Farmington, Missouri	$3.90	NA
18	First Citizens National Bank	Upper Sandusky, Ohio	$2.33 (as on June 2023)	NA
19	Penns Woods Bancorp	Williamsport, Pennsylvania	$2.17	$0.15
20	The Peoples State bank	Wausau, Wisconsin	$1.36 (as on March 2023)	NA
21	Pilot Grove Savings bank	Pilot Grove, Iowa	$0.81	NA

D. List of Financial Institutions

Other than banks, financial institutions are those which provided financial services not only to retail customers but also to corporations and organizations. Here, a few of the financial institutions reported by FDIC are mentioned. The values presented are dated as on 30th September, 2023.

Sl. No.	Name of the Bank	Headquarters	Total Assets (in USD Billion)	Market Capitalization (in USD Billion)
1	State Street Corporation	Boston	$284.41	$21.43
2	American Express	New York City	$250.58	$114.80
3	Citizens Financial Group	Providence, Rhode Island	$225.27	$11.63
4	USAA (United Services Automobile Association)	San Antonio, Texas	$200	NA
5	Ameriprise Financial	Minneapolis	$175	$34.90
6	RBC (Royal Bank of Canada) Bank	Toronto	$147	$128.80
7	Northern Trust	Chicago	$146.3	$15.39
8	Synchrony Financial	Stamford, Connecticut	$112.93	$12.62
9	John Deere Agricultural Bank	Reno, Nevada	$103.39	$107.89
10	Visa	Foster City, California	$90.49	$478.37
11	First Horizon National Corporation	Memphis, Tennessee	$82.53	$6.97
12	Popular, Inc. (Banco Popular de Puerto Rico)	Puerto Rico	$69.73	$5.20
13	Synovus Financial Corp.	Columbus, Georgia	$59.34	$4.32
14	Cullen/Frost Bankers, Inc.	San Antonio	$48.74	$6.32
15	FNB Corporation	Pittsburgh	$45.49	$4.23
16	UMB Financial Corporation	Kansas City, Missouri	$41.46	$3.51
17	MidFirst Bank	Oklahoma City	$36	$3.66
18	TIAA (Teachers Insurance and Annuity Association of America)	New York City	$36	$4.55
19	BankUnited	Miami Lakes, Florida	$35.38	$1.87
20	First National of Nebraska	Omaha, Nebraska	$29	$3.39
21	FirstBank Holding Co	Lakewood, Colorado	$28	NA
22	BCI Financial Group	Miami (Earlier Santiago, Chile)	$26	NA
23	Atlantic Union Bank	Richmond, Virginia	$20.73	$2.40
24	WSFS Bank	Wilmington, Delaware	$20.04	$2.55
25	Cambridge Trust Company	Cambridge, Massachusetts	$5.5 (as of June 2023)	NA

E. List of Investment Banks

Investment banks are special type of banks which provides services to corporations, governments and institutions to raise funds and perform complicated financial transactions such as IPOs, mergers and stocks investments. There are more than 4,900 investment banks in US of which few of them are listed below.

Note: The values are provided as on 30th September 2023.

Sl. No.	Name of the Bank	Headquarters	Total Assets (in USD Billion)	Market Capitalization (in USD Billion)
1	JP Morgan Chase & Co.	New York City	$3,868	$431.38
2	Bank of America Merrill Lynch	Charlotte	$3,153	$217.57
3	Citi Group Global Markets	New York City	$2,423	$84.56
4	Wells Fargo Securities	San Francisco	$1,876	$158.18
5	Goldman Sachs Asset Management	New York City	$1,577	$110.42
6	Morgan Stanley	New York City	$1,164	$128.10
7	US Bancorp	Minneapolis, Minnesota	$668.04	$56.60
8	Credit Suisse	New York City	$575.18	$3.56
9	The Bank of New York (BNY) Mellon	New York City	$405.24	$35.95
10	Nomura Securities International	New York City	$366.55	$12.19
11	UBS Investment Bank	New York City	$110.23	$71.44
12	Raymond James Financial	St. Petersburg, Florida	$77.63	$21.63
13	Jefferies Financial Group	New York City	$56.04 (as on August 2023)	$8.09
14	Stifel Financial Corp.	St. Louis	$37.87	$6.24
15	Pacific Premier Trust	Bancorp Irvine, California	$20.27	$2.14
16	Central Bancompany	Jefferson City, Missouri	$18	$3.16
17	Lazard	New York City	$4.29	$2.69
18	Evercore Partners	New York City	$3.05 (as on June 2023)	$5.22
19	Piper Sandler Companies	Minneapolis, Minnesota	$1.94 (as on June 2023)	$2.58
20	Moelis & Company	New York City	$1.01 (as on June 2023)	$3
21	TD Cowen Inc.	New York City	not available	$1.10

F. List of Commercial Banks

All the banks falls under commercial banking provided they offer services to corporations by accepting deposits, issuing loans and providing solutions to treasury management. As previously mentioned, FDIC have reported 4,135 active commercial banks operating in US as of 2022. Below are few commercial banks having total assets and market capitalization as of 30th September, 2023.

Sl. No.	Name of the Bank	Headquarters	Total Assets (in USD Billion)	Market Capitalization (in USD Billion)
1	CIBC Bank USA	Chicago, Illinois	$711.64	$35.88
2	First Citizens BancShares	Raleigh, North Carolina	$213.76	$20.16
3	Northern Trust Corporation	Chicago, Illinois	$146.3	$15.39
4	Discover Financial Services	Riverwood, Illinois	$143.43	$21.65
5	Comerica Bank	Dallas, Texas	$85.70	$5.87
6	Webster Bank	Stamford, Connecticut	$73.13	$7.37
7	East West Bank	Pasadena, California	$68.28	$8.48
8	South State Bank	Winter Haven, Florida	$44.98	$5.68
9	Texas Capital Bank	Dallas	$29.62	$2.73
10	Beal Bank	Plano, Texas	$26.1	$3.0
11	Home BancShares (commonly called Centennial bank)	Conway, Arkansas	$21.95	$4.44
12	Eastern Bank	Boston	$21.14	$2.21
13	Independent Bank Corp.	Rockland, Massachusetts	$19.36	$2.47
14	DSRM National Bank	Albuquerque, New Mexico	$0.64 Million (as on June 2023)	NA

G. List of Online Banks

Online or e-banking are a new form of banking which operates without a brick-or-mortar office. It operates fully digitally and few banks have opened separate departments for providing digital banking services. Few of those banks have been listed below with values of total assets and market capitalization considering the company as a whole. (dated as on 30th September, 2023)

Sl. No.	Name of the Bank	Headquarters	Total Assets (in USD Billion)	Market Capitalization (in USD Billion)
1	Marcus by Goldman Sachs	New York City	$1,577	$110.42
2	Capital One 360	Mclean, Virginia	$471.44	$471.44
3	Ally Bank	Detroit	$195.70	$8.32
4	Discover Bank	Riverwood	$143.43	$21.65
5	SoFi Bank	San Francisco	$27.97	$7.17
6	Simmons Bank	Pine Bluff, Arkansas	$27.56	$2.04
7	Axos Bank	San Diego	$20.82	$2.64
8	Lending Club Bank (acquired Radius bank)	San Francisco	$7.98 (as on December 2022)	$0.62
9	NBKC Bank	Overland Park	$1.15	NA
10	Varo Bank	Draper, Utah	$0.52	NA
11	Chime Bank	San Francisco, California	NA	NA

H. List of Regional Banks

As per FDIC definition, regional banks are those which have assets between $10 billion and $100 billion. As the name suggest, regional means operating in a particular area. But recently, this definition does not hold much importance as regional banks are not specific to region, their category is only due to their size and assets. Below 17 of the regional banks operating in US are mentioned but the list is not exhaustive.

Note: The data is as per 30th September, 2023.

Sl. No.	Name of the Bank	Headquarters	Total Assets (in USD Billion)	Market Capitalization (in USD Billion)
1	KeyBank	Cleveland	$187.8	$11.24
2	Western Alliance Bancorporation	Phoenix, Arizona	$70.89	$5.26
3	Valley National Bank	Wayne, New Jersey	$61.18	$4.36
4	Old National Bank	Evansville, Indiana	$49.05	$4.34
5	BOK Financial Corporation	Tulsa, Oklahoma	$48.93	$4.73
6	Associated Banc-Corp	Green Bay	$41.63	$2.71
7	Prosperity Bancshares	Houston	$39.29	$5.51
8	Hancock Whitney Bank	Gulfport, Mississippi	$36.29	$3.50
9	Commerce Bancshares	Kansas City, Missouri	$31.37	$6.06
10	United Bank (West Virginia)	Charleston, West Virginia	$29.22	$4.41
11	Glacier Bancorp	Kalispell, Montana	$28.06	$3.76
12	Fulton Financial Corporation	Lancaster, Pennsylvania	$27.38	$2.31
13	Arvest Bank	Bentonville, Arkansas	$27	NA
14	Bank of Hawaii	Honolulu	$23.54	$2.25
15	Cathay Bank (acquired HSBC Bank USA)	Chinatown, Los Angeles	$22.84	$2.72
16	Washington Federal	Seattle	$22	$1.98
17	Hope Bancorp	Los Angeles	$20.07	$1.19

References:

1. https://www.federalreserve.gov/releases/lbr/current/

2. https://companiesmarketcap.com/

3. Financial Statements of all the banks.

FAQs

1. Which is the largest bank in the U.S.?

Answer:

Chase, part of JPMorgan Chase & Co., is the largest bank by asset size in the U.S., including all the deposits and savings and other accounts, loans, mortgages and more.

2. Which are the five largest banks in the U.S.?

Answer:

The five largest banks in the United States based on total assets, are JPMorgan Chase & Co., Bank of America, Wells Fargo & Co., Citigroup Inc., and Goldman Sachs Group Inc..

3. What types of banks are there in the US?

Answer:

Commercial banks, savings and loans associations, credit unions, and online banks are the primary types.

4. What services do banks offer?

Answer:

Banks provide various services such as savings and checking accounts, loans, credit cards, investment options, and financial advisory services.

5. How are banks regulated in the US?

Answer:

Banks are regulated by various entities like the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and state banking authorities.

6. What is FDIC insurance?

Answer:

FDIC insurance protects depositors in case a bank fails. It covers up to $250,000 per depositor, per bank, for each account ownership category.