Top 10 US Banks by Assets: JPMorgan, Bank of America Lead

While the US banking industry had a challenging 2023, facing volatile economic headwinds and high interest rates, the market’s largest institutions remain at the top of the global banking industry.

In this Top 10 we look at the most important US banks based on their total assets, as of the first quarter of 2024.

10. TD bank

Total assets: $366 billion

TD Bank, based on the East and Northeast coasts, is currently one of the largest U.S. banks with assets of $366 billion. TD Bank, a subsidiary of Canada’s Toronto-Dominion Bank, traces its roots back 150 years and today serves 10 million local customers. With more than 1,200 branches on the East Coast, TD remains committed to offering personal banking services in addition to online banking and other digital offerings.

9. Capital One

Total assets: $468 billion

Capital One was founded in 1988 by Richard Fairbank and Nigel Morris – the latter now of QED Investors – and is a well-known institution specializing in credit cards. Capital One’s hybrid approach, primarily online-based, with limited in-person presence, has helped it attract a modern, digitally enabled customer base since its inception. The bank recently announced plans to acquire Discover Financial in a landmark $35.3 billion deal, which would be one of the largest mergers and acquisitions in recent years and bring together America’s two largest credit card companies.