Rating of the largest US banks by capitalization and consolidated assets, Top 100
Top 100 US banks by total assets
The top 100 US banks own $18.8 trillion in combined consolidated assets, but the recent collapses of medium-sized banks such as Silicon Valley Bank and First Republic have caused concern throughout the banking world.
This visualization, using Federal Reserve data, ranks the nation's 100 largest banks by the size of their consolidated assets.
*Consolidated assets refer to the sum of all bank assets. In addition to liquid cash, this includes illiquid assets such as stocks, bonds, property and subtracting its liabilities.
Top 10 banks
America's largest bank is JP Morgan Chase with over $3.3 trillion in assets, while Bank of America trails behind in second place with $2.5 trillion.
| Rank | Bank's name | Consolidated assets (mln USD) |
|---|---|---|
| #1 | JP Morgan Chase Bank | $3,267,963 |
| #2 | Bank of America | $2,518,290 |
| #3 | Citibank | $1,721,547 |
| #4 | Wells Fargo | $1,687,507 |
| #5 | US Bancorp | $590,460 |
| #6 | Truist Bank | $564,837 |
| #7 | PNC Bank | $556,314 |
| #8 | Goldman Sachs | $490,799 |
| #9 | Capital One | $469,432 |
| #10 | TD Bank |
$401,245 |
The banks ranked first and second combined account for about 30% of the consolidated assets in this list. On the other hand, the smallest bank is Bremer Bank with $15.8 billion in consolidated assets. Although it seems small in the context of this list, there are actually thousands of even smaller commercial financial institutions in the country.
Many banks have undergone significant changes in their rankings since the release of the latest Fed data at the end of 2022. BMO Harris moved up 10 positions from $177 billion in consolidated assets to $265 billion, up 50%. In February, the bank acquired the San Francisco-based Bank of the West (which previously ranked 34th on this list).
First Citizens also moved up from 30th to 16th with the acquisition of the remnants of Silicon Valley Bank.
In May 2023, the planned merger between First Horizon and TD Bank was terminated. The merger, if it had taken place, would have resulted in TD Bank being larger than Capital One.
Banking heavyweights
As a general rule, large banks pose less risk to borrowers in terms of their liquidity by holding huge amounts in diversified assets, while smaller and more regional US banks have a narrower margin of error. However, many factors other than size play a role in risk, such as an institution's loan portfolio or management style.
It is expected that instability in the banking sector will affect the economy as a whole. For example, banks' lending capacity is expected to shrink by 1% this year, which the IMF says will reduce overall US GDP by almost half a percentage point.
The largest banks have set aside billions in anticipation of bad loans as a result of pressure from higher interest rates. JP Morgan Chase currently has $2.3 billion in provisions/reserves. Here are some of the current reserves that banks have set aside based on the most recent data:
| Rank | Created reserves / Released reserves | As of |
|---|---|---|
| JP Morgan Chase | $2.3 billion | Q1 2023 |
| Wells Fargo | $1.2 billion | Q1 2023 |
| Goldman Sachs | $972 million | Q4 2022 |
| Citigroup | $241 million | Q1 2023 |
| Morgan Stanley | $234 million | Q1 2023 |
| Bank of America | $124 million | Q1 2023 |
Bank volatility
Small and medium banks (less than $250 billion in assets) play an important role in the economy. Together, these banks are responsible for 45% of consumer lending and 80% of commercial real estate lending.
However, lending to these banks is tightening given the current economic conditions and fears of bank failures.
Overall, continued turmoil in the banking sector is likely to reduce bank profitability and ultimately slow economic growth.