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What are the five largest banks in the United States?

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Quick Answer

The five largest banks in the United States, according to Forbes Magazine, are JP Morgan Chase, Bank of America, Citigroup, Wells Fargo and Bank of New York Mellon. Combined, these five banks have total assets of over $8.23 trillion as of 2015.

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What are the five largest banks in the United States?
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Full Answer

The top bank, JP Morgan Chase, has over $2.39 trillion in assets alone. Bank of American trails closely behind with $2.17 trillion, despite a shrinking asset base. With $1.88 trillion in assets, Citigroup holds a solid third place. This is even after the bank has been selling off assets recently. Wells Fargo has been growing in size, however, with assets of about $1.44 trillion. This includes a large deposit base of $1.01 trillion. Bank of New York Mellon is the smallest bank in the top five, with assets of only 25 percent of those of the number four ranked bank, at $356 billion.

For comparison purposes, the top 10 banks in the United States have a total asset value of $10.2 trillion. This is enough to purchase all of the real estate available in Manhattan 12 times over, according to Bankrate. Number five on the list, New York Mellon, has enough in assets just by itself to purchase 27 of the Navy's largest newest class of aircraft carriers.

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