The public would want to put their money safely anywhere possible for the saving and transaction purpose. There are different types of financial institutions that give the money safekeeping facility to the public. The list made by the Federal Reserve shows the top 10 financial institutions in America in terms of the assets held by them. The list below is the top 10 banks in America.
JPMorgan-Chase Bank is the sixth-largest bank in the world and the largest in America. They hold the total asset of about $2 trillion. The bank is merged from two older banks. They are J.P. Morgan and Chase Manhattan Corporation. The name J.P. Morgan is used during investment banking and the Chase is used for retail and commercial bank services.
2. Bank of America
Bank of America was a small institution which served the immigrants in San Francisco. At present, the Bank of America’s headquarter is in Charlotte, North Carolina. It has about 50 million retails banking customers as of today.
3. Wells Fargo
The Wells Fargo is the biggest bank in the world. It is a multinational bank and it’s headquarter is located in San Francisco, California along with the branches located around the United States.
Citibank was formerly known as the City Bank of New York, was founded in 1812. The bank has expanded its growth in 19 countries and branches all over the United States. It was the first American bank to open an office in a foreign country.
5. US Bancorp/u.s. bank
The US Bancorp/U.S. Bank is formed by combining the regional banks from the west and midwest. The bank has about 16 million customers and holds the total asset of about $389 billion and $250 billion in deposits.
The Pittsburgh National Corporation merged with Provident National Corporation to form PNC Financial Corporation. It was the biggest merger in the history of America during the time holding about $10.3 billion in the asset. It operates on the East Coast along with the offices in nineteen states.
7. Bank of new york mellon
Bank of New York Mellon is the direct successor organization of the Bank of New York. It was merged with T.Mellon and Sons and it is the oldest banking corporation in America, having about $27.9 trillion in terms of its assets.
8. State street
State Street is an American bank whose headquarter is located in Online Lincoln Street in Boston, founded in the year 1792. It holds $2.511 trillion under management and $31.62 trillion under custody and administration. It has about 40,142 number of employees and also regarded as the largest custodian bank in the world.
9. Capital one
Capital One was founded in the year 1988. Its headquarter is located in the Capital One Tower, McLean, Virginia. It provides services such as credit cards, auto loans, and banking as well as savings account to the customer.
10. TD Bank
TD Bank is a Canadian multinational Bank whose headquarter is located in Toronto, Ontario. The bank has about 85,000 number of employees and over 11 million customers. It provides many services from different branches across the country.