Top 10 US Commercial Banks by Total Assets

$3.3T in assets, headquartered in Charlotte, NC with 217,000 employees. Acquired Merrill Lynch in 2008 for $50B during the financial crisis, dramatically expanding its wealth management division.

Bank of America

$1.9T in assets, headquartered in San Francisco. Its fake accounts scandal (2016-2020) cost $3B+ in regulatory fines. The Federal Reserve's punitive asset cap and consent order were finally lifted in 2023.

Wells Fargo

$2.4T in assets and 240,000 employees operating in 160+ countries. Underwent a massive $25B organizational restructuring between 2022 and 2024, divesting international consumer businesses to simplify operations.

Citigroup

$578B in assets with a traditionally investment banking-focused model. Executed a high-profile retreat from consumer banking in 2024 after its Marcus division generated significant losses under CEO David Solomon.

Goldman Sachs

$1.2T in assets, transformed under CEO James Gorman into a wealth management powerhouse. Now manages $14T in client assets following the acquisitions of E*Trade ($13B, 2020) and Eaton Vance ($7B, 2021).

Morgan Stanley

$680B in assets, headquartered in Minneapolis with 70,000 employees. Widely regarded as the most profitable large US bank by return on assets (ROA), consistently outperforming peers on efficiency metrics.

U.S. Bancorp

$560B in assets, based in Pittsburgh with 60,000 employees. Completed the $11.5B acquisition of BBVA USA in 2021, vaulting it into the top tier of US regional banking and expanding its Sun Belt footprint.

PNC Financial Services

$530B in assets and headquartered in Charlotte, NC. Created from the landmark $66B merger of SunTrust Banks and BB&T in 2019 — the largest US bank merger in a decade, forming the sixth-largest US bank.

Truist Financial

$480B in assets, based in McLean, VA. A credit card specialist that became a data-driven banking innovator. Its pending $35B acquisition of Discover Financial in 2026 would create the largest US credit card issuer.

Capital One

$3.3T in assets, headquartered in Charlotte, NC with 217,000 employees. Acquired Merrill Lynch in 2008 for $50B during the financial crisis, dramatically expanding its wealth management division.

Bank of America

$1.9T in assets, headquartered in San Francisco. Its fake accounts scandal (2016-2020) cost $3B+ in regulatory fines. The Federal Reserve's punitive asset cap and consent order were finally lifted in 2023.

Wells Fargo

$2.4T in assets and 240,000 employees operating in 160+ countries. Underwent a massive $25B organizational restructuring between 2022 and 2024, divesting international consumer businesses to simplify operations.

Citigroup

$578B in assets with a traditionally investment banking-focused model. Executed a high-profile retreat from consumer banking in 2024 after its Marcus division generated significant losses under CEO David Solomon.

Goldman Sachs

$1.2T in assets, transformed under CEO James Gorman into a wealth management powerhouse. Now manages $14T in client assets following the acquisitions of E*Trade ($13B, 2020) and Eaton Vance ($7B, 2021).

Morgan Stanley

$680B in assets, headquartered in Minneapolis with 70,000 employees. Widely regarded as the most profitable large US bank by return on assets (ROA), consistently outperforming peers on efficiency metrics.

U.S. Bancorp

$560B in assets, based in Pittsburgh with 60,000 employees. Completed the $11.5B acquisition of BBVA USA in 2021, vaulting it into the top tier of US regional banking and expanding its Sun Belt footprint.

PNC Financial Services

$530B in assets and headquartered in Charlotte, NC. Created from the landmark $66B merger of SunTrust Banks and BB&T in 2019 — the largest US bank merger in a decade, forming the sixth-largest US bank.

Truist Financial

$480B in assets, based in McLean, VA. A credit card specialist that became a data-driven banking innovator. Its pending $35B acquisition of Discover Financial in 2026 would create the largest US credit card issuer.

Capital One