The Richest Banks JPMorgan tops list
Posted on April 28, 2016 by Ryan Vanzo

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“Too big to fail.” It’s been the battle cry of activists and politicians across the United States following the near collapse of the nation’s financial sector in 2008. But how big are banks really?

Credio, a finance site that’s part of the Graphiq network, pulled data from the Federal Deposit Insurance Corporation (FDIC) and analyzed which banks had the highest value of assets. The FDIC was created by Congress to monitor and ensure the stability of the country’s financial system.

The top four banks on our list will undoubtedly be familiar to most readers. Outside that group, you may be surprised to see which financial institutions dominate the United States financial sector. Our list includes not only traditional banks, but brokerage companies, credit card lenders and even a former division of General Electric.

Combined, these institutions control over $10 trillion of the world’s assets. The top five alone make up nearly half the U.S. financial sector.

#30. Synchrony

Total Assets: $62,858,185,000

Total Deposits: $48,166,500,000
Total Loans: $47,947,287,000
Number of Branches: 3

Even with $63 billion in assets, Synchrony clocks in as the smallest bank on the list. Until 2014, the company operated as GE Capital Retail Finance Corporation. While it has billions in banking assets, Synchrony’s bread and butter is actually private label credit cards, where it controls nearly half the market.

#29. Huntington National Bank

Total Assets: $70,879,778,000

Total Deposits: $56,357,600,000
Total Loans: $50,203,199,000
Number of Branches: 760

With a focus on the Midwest United States, Huntington National Bank has banking offices in seven states. It’s primarily focused on the Ohio market where it has over 400 locations.

#28. USAA Federal Savings Bank

Total Assets: $71,130,930,000

Total Deposits: $63,451,100,000
Total Loans: $45,990,191,000
Number of Branches: 1

Also known as the United Services Automobile Association, USAA offers banking, investing, and insurance to U.S. military and their families. It was founded for this specific purpose, as traditional banks and insurance agencies formerly thought of members of the military as a high risk group, limiting options for soldiers.

#27. Comerica

Total Assets: $71,877,743,000

Total Deposits: $60,584,000,000
Total Loans: $48,494,816,000
Number of Branches: 476

Founded in Detroit, Comerica moved its headquarters to Dallas in 2006. It rose to prominence after its merger with Manufacturers National Corporation in 1992, nearly doubling the size of its business.

#26. Bank of the West

Total Assets: $75,743,098,000

Total Deposits: $54,153,100,000
Total Loans: $53,940,042,000
Number of Branches: 570

As its name implies, Bank of the West focuses on the Midwest and Western United States. However, its focus has turned international in recent years. In 2006, it opened branches in Taiwan and Japan.

#25. Compass Bank

Total Assets: $85,426,845,000

Total Deposits: $66,265,800,000
Total Loans: $60,631,993,000
Number of Branches: 674

Also known as BBVA, Compass has over 700 branches with more than 11,000 employees. It primarily serves Southern and Western states such as Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas.

#24. Discover

Total Assets: $85,747,508,000

Total Deposits: $49,746,000,000
Total Loans: $70,512,438,000
Number of Branches: 2

Another credit card issuer, Discover actually only has two physical banking branches. It’s the third largest credit card brand in the U.S., with over 60 million cardholders.

#23. Santander Bank

Total Assets: $90,192,245,000

Total Deposits: $59,328,500,000
Total Loans: $53,086,876,000
Number of Branches: 680

Formerly known as Sovereign Bank, Santander Bank is fully owned by the Spanish Santander Group. It changed its name to help its parent company create a global brand. It now operates 680 branches.

#22. Keybank

Total Assets: $93,038,275,000

Total Deposits: $73,730,900,000
Total Loans: $61,485,088,000
Number of Branches: 1,002

Keybank is headquartered in Ohio and is the only major bank based in Cleveland.

#21. Capital One 360

Total Assets: $102,172,065,000

Total Deposits: $62,010,800,000
Total Loans: $75,620,054,000
Number of Branches: 1

This probably isn’t the Capital One you’re most familiar with (you’ll see that one later on this list). Capital One 360 actually runs the online banking division of Capital One. The business originates from ING Direct, one of the first major attempts at a branchless bank. Following a merger, ING Direct was renamed Capital One 360.

#20. BMO Harris Bank

Total Assets: $104,121,677,000

Total Deposits: $82,075,600,000
Total Loans: $63,635,851,000
Number of Branches: 632

BMO Harris is a subsidiary of the Canadian Bank of Montreal, commonly referred to as BMO. In 2015, the company acquired General Electric’s transportation finance business, diversifying its revenue base away from traditional banking services.

#19. RBS Citizens

Total Assets: $108,064,717,000

Total Deposits: $77,576,100,000
Total Loans: $78,704,151,000
Number of Branches: 851

RBS Citizens is wholly-owned by The Royal Bank of Scotland Group. Headquartered in Rhode Island, the company has a strong foothold across the New England region. One of its more unique strategies involves its agreements with several supermarket chains to locate small bank branches inside stores.

#18. Ally Bank

Total Assets: $111,306,727,000

Total Deposits: $66,349,200,000
Total Loans: $81,743,614,000
Number of Branches: 1

Formerly GMAC Bank (General Motors lending arm), Ally has no branches, opting to become one of the first completely online banks. It’s still heavily involved in the U.S. auto loan industry, but has turned its focus to becoming a full-service banking provider.

#17. Union Bank

Total Assets: $115,383,696,000

Total Deposits: $84,955,700,000
Total Loans: $76,794,384,000
Number of Branches: 384

Union Bank is completely owned by The Bank of Tokyo-Mitsubishi UFJ which has $2.3 trillion in assets. It operates mainly in metropolitan areas such as Dallas, Houston, New York City and Chicago.

#16. Northern Trust

Total Assets: $116,390,764,000

Total Deposits: $97,630,800,000
Total Loans: $32,987,036,000
Number of Branches: 65

While Northern Trust has a sizable banking arm, it also holds over $6.0 trillion in assets under custody. This amount doesn’t count towards its own asset base because the bank is merely safekeeping these securities

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