The world-famous investor Warren Buffet said, “Banking is a very good business if you don’t do anything dumb”. Banking is one of the big businesses in the USA. The total assets owned by the ten largest banks in the USA are around $12.39 trillion. Thus, when choosing a bank to invest in, you have plenty of options available in the market. Our blog can help you choose the best banks in America to opt for better financial returns in your future investment plans.
- JPMorgan Chase
Year of Foundation: 2000
Assets: $3.38 trillion
Headquarters: New York
JPMorgan Chase is one of the largest banks in America and it can outperform its competitors. It aims to target savvy consumers digitally and introduces artificial intelligence to invest heavily in banking technology.
- Bank of America
Year of Foundation: 1998
Assets: $2.44 trillion
Headquarters: Charlotte, North Carolina
Bank of America provides different banking services to 66 million consumers and small businesses worldwide. It offers mobile apps to its customers and eliminates non-sufficient funds (NSF) fees.
- Citigroup
Year of Foundation: 1998
Assets: $1.72 trillion
Headquarters: New York
Citigroup is one of the global financial services providing banks in America. It is looking forward to launching crypto services, for example, trading, financing, custody, etc. to customers.
- Wells Fargo
Year of Foundation: 1852
Assets: $1.71 trillion
Headquarters: San Francisco
Wells Fargo focuses on providing world-class financial services to business clients by consolidating and merging its other branches. Recently, it launched a savings app and mobile banking app geared toward millennials.
- U.S. Bancorp
Year of Foundation: 1863
Assets: $582.25 trillion
Headquarters: Minneapolis
U.S. Bancorp is the largest bank holding company in addition to a parent company of U.S. Bank. It is one the fifth largest commercial bank by assets and offers digital services from its extensive branch network.
- Truist Financial Corporation
Year of Foundation: 2019
Assets: $532.08 trillion
Headquarters: Charlotte, North Carolina
Truist Financial Corporation is formed by the merger of BB&T and SunTrust in 2019. The bank operates 2000 branches in 25 states in the USA, serving 10 million consumer households.
- PNC Financial Services
Year of Foundation: 1845
Assets: $534.35 trillion
Headquarters: Pittsburgh
PNC Financial Services is a major regional bank that operates in parts of the Northeast, South, and Midwest of the USA. Currently, it is trying to expand outside 19 states and excess its traditional services to adapt to technical challenges.
- Goldman Sachs
Year of Foundation: 1869
Assets: $501.91 billion
Headquarters: New York
Goldman Sachs has access to a variety of financial services, for example, global investment banking, management, and securities firms. Marcus is its banking product which is the online banking arm. It offers personal loans at affordable interest rates.
- Capital One Financial
Year of Foundation: 1994
Assets: $388.44 billion
Headquarters: McLean, Virginia
Capital One Financial has different branches on the East Coast and in Texas in addition to the Midwest in the USA. The bank offers financial workshops to its customers along with online banking products through its apps.
- State Street
Year of Foundation: 1792
Assets: $296.43 billion
Headquarters: Boston
State Street Corporation is an asset management company that connects its customers to other banks in America as well. It educated consumers regarding investment and investment management in addition to trading. Asset owners and insurance companies are its clients.
- TD Bank
Year of Foundation: 1955
Assets: $405.22 billion
Headquarters: Cherry Hill, New Jersey
TD Bank is the prominent commercial banking arm of TD Bank Group of Canada. The bank gives its customers access to mortgages, deposit accounts, and credit cards. Its clients belong to small and commercial business firms that are connected with 1300 branches of the bank.
- Bank of New York Mellon Corporation
Year of Foundation: 2007
Assets: $365.10 billion
Headquarters: New York
Bank of New York Mellon Corporation was the first company to be traded in the market of banks in America when the New York stock exchange opened in 1792. It serves individual investors as well as institutional investors in New York.
- Citizens Financial
Year of Foundation: 1828
Assets: $226.53 billion
Headquarters: Providence, Rhode Island
Citizens Financial has 1,172 branches in 14 states of the USA in addition to operating over 2700 ATMs. Recently, the bank is dealing with an alliance with HSBC to acquire its 80 branches on the East Coast.
- Silicon Valley Bank
Year of Foundation: 1983
Assets: $211.82 billion
Headquarters: Santa Clara, California
Silicon Valley Bank has 4,800 branches in the USA. It operates more than 16000 domestic ATMs and more than 34 international branches at present. It remains to be a banking giant among all the banks in America offering 400 retail banking services.
- Fifth Third Bancorp
Year of Foundation: 1858
Assets: $205.55 billion
Headquarters: Cincinnati
Fifth Third Bancorp has around 1100 branches in different parts of the USA. It is an American bank holding company that takes fraud protection measures to protect the accounts of customers. Also, it offers access to ‘Early Pay’ before the date of the scheduled payment.
In brief, the above information explains details about the best banks in America that you should know about for wise future investments. Some of them are trying to cope with the upcoming digital demands from consumers and others have already established their presence in the financial market. We hope reading it helped you to choose the best banks in America to make the most of your money.
Also Read: Top 10 Insurance Companies in Miami
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