Banking industry market share is important to consumers and investors alike. On the one hand, understanding which banks and credit unions do the most business will help guide your search for the right credit card, prepaid card, checking account, etc. Not only can the biggest banks typically afford to offer the best deals, but they’re popular for a reason and you can use the comparison shopping that other consumers have already done to make your search more efficient. On the other hand, banks with a heavy deposit base typically dominate the lending space, while those with significant assets may garner higher valuations.
Market Share of U.S. Banks by Domestic Deposits in 2018
- The top 15 banks make up over one half (52%) of the deposits for all banks in the U.S.
Top 15 Largest U.S. Banks based on Total Domestic Deposits
| Rank (2018) | Bank | 2018 Total Deposits in Billions (% Market Share) | 2017 Total Deposits in Billions (% Market Share) | 2016 Total Deposits in Billions (% Market Share) | 2015 Total Deposits in Billions (% Market Share) | 2014 Total Deposits in Billions (% Market Share) | 2013 Total Deposits in Billions (% Market Share) |
|---|---|---|---|---|---|---|---|
| 1 | Bank of America | $1,312.70 (10.67%) | $1,270.15 (10.71%) | $1,204.49 (10.73%) | $1,169.57 (11.02%) | $1,046.21 (10.39%) | $1,019.08 (10.92%) |
2 | JPMorgan Chase Bank* | $1,274.09 (10.35%) | $1,270.12 (10.71%) | $1,155.19 (10.29%) | $1,069.43 (10.07%) | $1,032.55 (10.25%) | $916.54 (9.82%) |
3 | Wells Fargo Bank | $1,270.00 (10.32%) | $1,237.79 (10.44%) | $1,145.30 (10.20%) | $1,086.29 (10.23%) | $1,033.62 (10.26%) | $924.16 (9.90%) |
4 | Citibank | $509.97 (4.14%) | $504.43 (4.25%) | $493.07 (4.39%) | $467.63 (4.41%) | $465.63 (4.62%) | $446.22 (4.78%) |
5 | U.S. Bank | $320.95 (2.61%) | $329.47 (2.78%) | $298.34 (2.66%) | $279.55 (2.63%) | $263.66 (2.62%) | $235.34 (2.52%) |
6 | PNC Bank | $262.18 (2.13%) | $257.68 (2.17%) | $248.45 (2.21%) | $237.99 (2.24%) | $221.11 (2.20%) | $209.78 (2.25%) |
7 | TD Bank | $247.99 (2.01%) | $226.76 (1.91%) | $214.51 (1.91%) | $194.29 (1.83%) | $185.61 (1.84%) | $178.32 (1.91%) |
8 | Capital One | $233.07 (1.89%) | $220.75 (1.86%) | $207.79 (1.85%) | $195.64 (1.84%) | $191.20 (1.90%) | $188.04 (2.02%) |
9 | Charles Schwab Bank | $190.94 (1.55%) | $162.37 (1.37%) | $137.35 (1.22%) | $113.08 (1.07%) | $95.73 (0.95%) | $84.39 (0.90%) |
10 | BB&T | $166.71 (1.35%) | $163.09 (1.38%) | $167.00 (1.49%) | $141.96 (1.34%) | $137.82 (1.37%) | $137.19 (1.47%) |
11 | SunTrust Bank | $165.21 (1.34%) | $162.67 (1.37%) | $155.35 (1.38%) | $147.88 (1.39%) | $136.87 (1.36%) | $129.86 (1.39%) |
12 | Goldman Sachs Bank USA | $127.69 (1.04%) | $105.89 (0.89%) | $113.71 (1.01%) | $77.84 (0.73%) | $64.63 (0.64%) | $65.38 (0.70%) |
13 | HSBC Bank USA | $123.78 (1.01%) | $128.15 (1.08%) | $136.08 (1.21%) | $126.66 (1.19%) | $111.13 (1.10%) | $101.46 (1.09%) |
14 | The Bank of New York Mellon | $122.32 (0.99%) | $126.19 (1.06%) | $138.08 (1.23%) | $155.53 (1.47%) | $144.05 (1.43%) | $119.07 (1.28%) |
15 | Morgan Stanley Bank | $117.77 (0.96%) | $100.03 (0.84%) | $117.07 (1.04%) | $110.65 (1.04%) | $96.36 (0.96%) | $66.07 (0.71%) |
| TOTAL DOMESTIC DEPOSITS: | $12,308 | $11,860 | $11,230 | $10,615 | $10,072 |
(Source: FDIC, June, 2010 - 2019)
Market Share of U.S. Banks by Assets in Q1 2019
- The top 5 institutions make up nearly half (47%) of the total bank assets in the U.S.
Top 50 Largest Banks and Thrifts in the U.S. based on Total Assets
| Rank (2019) | Bank | Market share Q1 2019 (%) | Total Assets Q1 2019 (In Billions) | Total Assets 2018 (In Billions) | Total Assets 2017 (In Billions) | Total Assets 2016 (In Billions) | Total Assets 2015 (In Billions) | Total Assets 2014 (In Billions) |
|---|---|---|---|---|---|---|---|---|
| 1 | JPMorgan Chase Bank | 14.04% | $2,292 | $2,219 | $2,141 | $2,083 | $1,915 | $2,075 |
| 2 | Bank of America | 10.87% | $1,775 | $1,783 | $1,752 | $1,677 | $1,639 | $1,574 |
| 3 | Wells Fargo Bank | 10.22% | $1,668 | $1,689 | $1,747 | $1,727 | $1,611 | $1,533 |
| 4 | Citibank | 8.76% | $1,430 | $1,407 | $1,385 | $1,350 | $1,300 | $1,357 |
| 5 | U.S. Bank | 2.86% | $467 | $459 | $456 | $441 | $417 | $399 |
| 6 | PNC Bank | 2.33% | $381 | $371 | $370 | $356 | $348 | $335 |
| 7 | Capital One | 1.88% | $307 | $305 | $291 | $286 | $273 | $255 |
| 8 | TD Bank | 1.85% | $301 | $303 | $288 | $269 | $246 | N/A |
| 9 | Bank of New York Mellon | 1.66% | $271 | $286 | $297 | $258 | $319 | $304 |
| 10 | State Street Bank and Trust | 1.38% | $225 | $242 | $235 | $239 | $241 | $270 |
| 11 | BB&T | 1.35% | $220 | $219 | $216 | $214 | $205 | $182 |
| 12 | SunTrust Bank | 1.31% | $214 | $210 | $202 | $201 | $187 | $186 |
| 13 | Goldman Sachs Bank | 1.20% | $196 | $192 | $165 | $159 | $135 | $118 |
| 14 | HSBC Bank USA | 1.09% | $177 | $170 | $180 | $197 | N/A | N/A |
| 15 | Ally Bank | 0.99% | $162 | $159 | $137 | $124 | $111 | $104 |
| 16 | Citizens Bank | 0.99% | $161 | $129 | $122 | $117 | $108 | $103 |
| 17 | Fifth Third Bank | 0.90% | $147 | $144 | $140 | $140 | $139 | $136 |
| 18 | Morgan Stanley Bank | 0.86% | $141 | $150 | $130 | $129 | $136 | $126 |
| 19 | KeyBank | 0.86% | $140 | $138 | $136 | $134 | $93 | $92 |
| 20 | MUFG Union Bank | 0.82% | $133 | $131 | $119 | $116 | $115 | $113 |
| 21 | Regions Bank | 0.78% | $128 | $125 | $123 | $125 | $125 | $119 |
| 22 | American Express Bank | 0.75% | $123 | $117 | N/A | N/A | N/A | N/A |
| 23 | BMO Harris Bank | 0.75% | $123 | $123 | $109 | $106 | $104 | $97 |
| 24 | The Northern Trust Company | 0.74% | $121 | $132 | $138 | $124 | $116 | $110 |
| 25 | M&T Bank | 0.73% | $120 | $120 | $118 | $123 | $122 | $96 |
| 26 | Capital One | 0.72% | $117 | $120 | $120 | $113 | $102 | $91 |
| 27 | Discover Bank | 0.67% | $109 | $108 | $99 | $91 | $86 | $82 |
| 28 | Huntington Bank | 0.66% | $108 | $109 | $104 | $100 | $71 | $66 |
| 29 | First Republic Bank | 0.62% | $102 | $99 | $88 | $73 | $59 | $48 |
| 30 | Compass Bank | 0.57% | $93 | $90 | $87 | $84 | $85 | $80 |
| 31 | Bank of the West | 0.54% | $88 | $87 | $90 | $84 | N/A | N/A |
| 32 | Santander Bank | 0.48% | $79 | $77 | $74 | $83 | $90 | $80 |
| 33 | Comerica Bank | 0.43% | $71 | $71 | $72 | $73 | $72 | $69 |
| 34 | Zions Bank | 0.42% | $69 | $69 | N/A | N/A | N/A | N/A |
| 35 | Silicon Valley Bank | 0.36% | $59 | $56 | $50 | $44 | $44 | $38 |
| 36 | City National Bank | 0.32% | $52 | $51 | N/A | N/A | N/A | N/A |
| 37 | Signature Bank | 0.30% | $49 | $47 | $43 | $39 | $33 | $27 |
| 38 | People’s United Bank | 0.29% | $48 | $48 | $44 | $40 | $38 | N/A |
| 39 | Synovus Financial | 0.29% | $47 | $33 | $31 | $30 | $29 | $27 |
| 40 | CIT Bank | 0.27% | $44 | $42 | $41 | $42 | $44 | N/A |
| 41 | East West Bank | 0.26% | $42 | $41 | $37 | $35 | $32 | $29 |
| 42 | Deutsche Bank | 0.26% | $42 | $39 | $43 | $54 | N/A | N/A |
| 43 | First Horizon | 0.25% | $41 | $41 | $41 | $28 | $26 | $25 |
| 44 | BOK Financial | 0.24% | $40 | $34 | $32 | $32 | $31 | $29 |
| 45 | First-Citizens Bank | 0.22% | $36 | $35 | $34 | $33 | $31 | N/A |
| 46 | Barclays | 0.21% | $35 | $33 | $34 | $33 | N/A | N/A |
| 47 | Associated Bank | 0.21% | $34 | $34 | $30 | $29 | $28 | $27 |
| 48 | FNB Bank | 0.21% | $34 | $33 | $31 | N/A | N/A | N/A |
| 49 | Bank United | 0.20% | $33 | N/A | N/A | $28 | N/A | N/A |
| 50 | Valley National | 0.20% | $32 | N/A | N/A | N/A | N/A | N/A |
| TOTAL DOMESTIC ASSETS: | $16,326 | 16,138 | $15,568 | $14,985 | $14,218 | $13,768 |
(Source: Federal Reserve 2011-2019)