There are several factors to consider when choosing a bank. Product offerings, branch locations, fees, and interest rates are just some of the features you might evaluate.
Another factor to consider: size. Doing business with a large, national bank has its pros and cons. Although you may receive less personalized service or be subject to more fees, bigger banks do tend to offer a wider range of products and services, as well as more branch and ATM locations nationwide.
So, if you’re interested in working with a big bank, here’s a list of the 20 largest banks in the U.S. by domestic asset size.
20 biggest banks in America by asset size
1. Chase Bank
Chase Bank is the largest bank in the U.S. It operates more than 4,900 branches and 16,000 ATMs across the nation. Chase offers a wide range of financial products including credit cards, checking and savings accounts, certificates of deposit (CDs), home and auto loans, and business and commercial banking products.
2. Bank of America
Bank of America’s roots go back more than 200 years, and it’s now the second largest bank in the U.S. BofA offers a range of products for personal and business customers, including deposit accounts, credit cards, lines of credit, and wealth management services. Bank of America operates more than 3,700 branches in the U.S. and has a network of approximately 15,000 ATMs.
3. Wells Fargo
Wells Fargo has been serving customers since 1852. It offers banking products and services for personal, small business, commercial, and corporate clients. This includes checking and savings accounts, CDs, home and auto loans, lines of credit, commercial financing, investing, and wealth management services. Wells Fargo operates more than 4,300 branches in the U.S. and has a network of more than 11,000 ATMs.
4. Citibank
Citibank is the fourth largest bank by asset size with over $1 trillion in domestic assets. Citi operates 654 branches in the U.S., has a network of more than 2,300 ATMs within its branches, and gives customers access to over 60,000 surcharge-free ATMs in the U.S. Citi’s product offerings include deposit accounts, individual retirement accounts (IRAs), mortgage and personal loans, business bank accounts, and more.
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5. U.S. Bank
U.S. Bank was founded in 1863 and has grown to become the fifth largest bank in the U.S. Its product offerings include deposit accounts, credit cards, personal loans and lines of credit, home loans, auto loans, business bank accounts, loans, and lines of credit, and corporate and commercial banking solutions and investment services. U.S. Bank operates more than 2,300 branches across the country.
6. PNC Bank
PNC Bank has served customers for more than 160 years. It offers banking products for personal, small business, corporate, and institutional clients. PNC has a network of more than 2,300 branches across the nation and approximately 60,000 PNC and partner ATMs.
7. Truist Bank
Truist is a financial services company established as a result of the BB&T Bank and SunTrust Bank merger. Truist offers financial products and services for personal, small business, commercial, corporate, and institutional clients. It operates over 2,000 branches in the U.S. and has a network of more than 2,900 ATMs.
8. Capital One
Capital One is a Virginia-based credit card company founded in 1994. Over the years, Capital One has expanded its offerings to include a full suite of financial products and services for consumers and businesses, including checking and savings accounts, new and used auto financing, business accounts and credit cards, and commercial banking solutions. Capital One operates 278 branches across the U.S. and has a network of over 70,000 ATMs.
9. Goldman Sachs Bank
The online consumer banking division of Goldman Sachs is known as Marcus by Goldman Sachs. It offers an online savings account, several CDs, and credit cards. Goldman Sachs Bank has 4.5 billion in domestic assets. Note that Marcus does not offer ATMs or debit cards, and funds must be accessed via ACH or wire transfer.
10. TD Bank
TD Bank is another major U.S. bank that serves over 10 million customers through its retail, small business, and commercial banking products. Its products include checking and savings accounts, credit cards, mortgages, lending, and investing products. TD Bank operates over 1,100 branches nationwide and a network of 2,600 ATMs.
11. BMO Bank
BMO Bank is headquartered in Chicago and has served customers for over 200 years. Its products include bank accounts and services for personal, wealth, business, and commercial clients. BMO operates more than 1,000 branches across the U.S. and has a network of more than 40,000 ATMs.
Read more: The 10 best online banks for May 2024
12. Bank of New York Mellon
Bank of New York Mellon (BNY Mellon) was founded by Alexander Hamilton in 1784 and is the 12th largest bank by domestic asset size in the U.S. BNY Mellon offers investment management and investment services, and has over $2.4 billion in assets.
13. Citizens Bank
Citizens Bank offers banking products for personal, business, and corporate clients. Its products include deposit accounts, credit cards, home loans, student loans, investing and wealth management services, and more. Citizens operates over 1,000 branches across the country and has a network of more than 3,200 ATMs.
14. State Street Bank and Trust Company
State Street Bank is a Massachusetts-based trust company that offers investment servicing and management solutions. State Street is the 14th largest bank with $2.1 billion in domestic assets.
15. Fifth Third Bank
Fifth Third Bank is a regional bank headquartered in Ohio. It operates over 1,100 branches across the U.S. and a network of more than 40,000 fee-free ATMs. Fifth Third Bank serves personal, business, commercial, and wealth management clients, offering checking and savings accounts, CDs, SBA loans, cash management solutions, business checking and credit card solutions, investment management, and more.
16. First Citizens Bank
First Citizens Bank was founded in North Carolina over 100 years ago and serves personal, small business, commercial, and wealth management clients. First Citizens offers checking and savings accounts, credit cards, loans, mortgages, insurance, retirement, investment products, and more. First Citizens operates over 500 branches in the U.S.
17. Morgan Stanley Bank
Morgan Stanley is a financial services company that serves individuals, families, institutions, and governments, offering investment accounts and financial advisory services. Morgan Stanley Bank currently has over $2 billion in domestic assets.
18. M&T Bank
Founded in 1856, M&T Bank is a community bank serves customers across the U.S. It offers checking and savings accounts, CDs, mortgages and loans, credit cards, investments, and insurance services. It also offers business and commercial banking products. M&T operates almost 1,000 branches across the U.S. and has a network of more than 1,600 ATMs.
19. Morgan Stanley Private Bank
Morgan Stanley Private Bank is a division of Morgan Stanley Bank that offers checking and savings accounts. Morgan Stanley Private Bank does not operate any branches in the U.S. or abroad.
Read more: What is private banking, and how does it work?
20. Huntington National Bank
Headquartered in Columbus, Ohio, and founded in 1866, Huntington National Bank is the 20th largest bank by domestic asset size in the U.S. It provides a wide range of financial products and services, including checking and savings accounts, CDs, credit cards, mortgages, home equity loans and lines of credit, insurance products, and more. Huntington operates over 1,000 branches across the country.