Top-10 Largest Banks of United States in July 2024

In July 2024, the US banking landscape is dominated by several major institutions that lead the industry in size and influence. This article explores the top ten largest banks in the US, highlighting their assets, market presence, and the breadth of their services. These banks not only play a critical role in the national economy but also have a significant impact on global finance.

What are Banks?

Banks are financial institutions that provide a range of services including accepting deposits, offering loans, and facilitating financial transactions. They play a crucial role in the economy by managing money, providing credit, and helping individuals and businesses with financial needs. Banks also offer services such as investment advice, wealth management, and payment processing, making them essential players in both personal and commercial finance.

Largest Bank of United States in 2024

Chase Bank, the consumer banking division of JPMorgan Chase, is the largest bank in the US as of 2024. With assets totaling $3.30 trillion, it holds the top position in the industry. Chase operates over 4,700 branches and more than 16,000 ATMs across all 48 continental U.S. states, boasting the largest branch network in the country. Headquartered in New York, Chase is a dominant force in American banking.

Top-10 Largest Banks of United States in July 2024

JP Morgan Chase Bank, with the total assets of $3.3 trillion, stands as the largest bank of United States, followed by Bank of America, Wells Fargo, Citibank and U.S. Bank.

Here is the list of top-10 largest banks of United States in July 2024:

Top-10 Largest Banks in United States in July 2024
Rank	Bank	Headquarters	Total Assets
1.	JP Morgan Chase	New York	$3.3 trillion
2.	Bank of America	Charlotte, North Carolina	$2.4 trillion
3.	Wells Fargo	San Francisco, California	$1.7 trillion
4.	Citibank	New York	$1.6 trillion
5.	U.S. Bank	Minneapolis, Minnesota	$657 billion
6.	PNC Bank	Pittsburgh, Pennsylvania	$553 billion
7.	Goldman Sachs Bank	New York	$538 billion
8.	Truist Bank	Charlotte, North Carolina	$535 billion
9.	Capital One	McLean, Virginia	$468 billion
10.	TD Bank	Cherry Hill, New Jersey	$366 billion

United States’ Largest Bank – JP Morgan Chase Bank

• Headquarter: New York
• Total Assets: $3.3 trillion

JPMorgan Chase & Co., headquartered in New York City, is the largest bank in the United States and the world’s largest by market capitalization as of 2024. Known for its significant scale, JPMorgan Chase is a leading player among the Big Four banks and is deemed systemically important by the Financial Stability Board. Currently located at 383 Madison Avenue, the firm will relocate to the JPMorgan Chase Building at 270 Park Avenue in 2025.

Second Largest Bank of United States – Bank of America

• Headquarter: Charlotte, North Carolina
• Total Assets: $2.4 trillion

The Bank of America Corporation, headquartered at the Bank of America Corporate Center in Charlotte, North Carolina, is the second-largest bank in the United States. Formed by the 1998 merger of NationsBank and Bank of America, it ranks as the world’s second-largest bank by market capitalization, following JPMorgan Chase. As one of the Big Four US banks, it holds around 10 percent of American bank deposits and focuses on commercial banking, wealth management, and investment banking.

Third Biggest Bank of United States – Wells Fargo

• Headquarter: San Francisco, California
• Total Assets: $1.7 trillion

Wells Fargo & Company, headquartered in San Francisco, is the third-largest bank in the United States. With operations in 35 countries and serving over 70 million customers globally, Wells Fargo is a major player in the financial sector. Recognized as a systemically important financial institution by the Financial Stability Board, it is one of the “Big Four Banks” in the US, alongside JPMorgan Chase, Bank of America, and Citigroup.