Research firm SNL Financial has released its list of the top 50 U.S. banks at the end of the second quarter of 2012.
The eleven largest banks are JPMorgan Chase & Co. (NYSE: JPM), Bank of America Corp. (NYSE: BAC), Citigroup Inc. (NYSE: C), Wells Fargo & Co. (NYSE: WFC), U.S. Bancorp (NYSE: USB), Bank of New York Mellon Corp. (NYSE: BK), HSBC North America Holdings Inc. (a division of HSBC Holdings plc (NYSE: HBC)), PNC Financial Services Group Inc. (NYSE: PNC) Captial One Financial Corp. (NYSE: COF), TD Bank US Holding Co. (a division of Toronto Dominion Bank (NYSE: TD)), and State Street Bank (NYSE: STT).
Here’s a handy table of the top eleven, ranked by assets, and including total deposits held:
Bank |
Total Assets ($B) |
Total Deposits ($B) |
JPMorgan | $2,290.15 | $1,115.89 |
Bank of America | $2,160.85 | $1,035.23 |
Citigroup | $1,916.45 | $914.31 |
Wells Fargo | $1,336.20 | $928.93 |
U.S. Bancorp | $353.14 | $241.32 |
Bank of NY Mellon | $330.28 | $221.14 |
HSBC North America | $317.48 | $119.51 |
PNC | $299.58 | $206.92 |
Capital One | $296.57 | $213.93 |
TD | $207.33 | $169.43 |
State Street | $200.78 | $143.77 |
The top eleven banks all have assets topping $200 billion dollars. The next eleven own assets topping $100 billion.
The gap between the four largest banks and the rest is large and growing. Whether or not this is a good thing likely depends on the signature at the bottom of one’s paycheck.
The full list is available here.
Paul Ausick
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.