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According to Federal Reserve data, financial firms had $16.9 trillion in consolidated assets as of December 31, 2019, a 48 percent increase from the end of 2008. During that time, the total number of banks increased from 1,722 to 1,836.
With $2.338 trillion in consolidated assets, JPMorgan Chase was the largest bank in the United States at the end of 2019. Domestic assets accounted for approximately 77 percent of those assets, or $1.808 trillion. The bank had 4,982 branches in the United States and 33 abroad.
Bank of America was the second-largest bank in the United States at the end of last year, with $1.853 trillion in consolidated assets. Domestically, the bank held $1.747 trillion, or 94% of those assets. Bank of America had 4,242 domestic locations and 27 international locations.
With $1.713 trillion in consolidated assets, Wells Fargo was the third largest bank in the United States. Domestically owned assets accounted for $1.653 trillion, or 97 percent of total assets. Wells Fargo had 5,441 branches in the United States and 11 abroad.
With $1.454 trillion in assets, Citibank was the fourth-largest American bank. Approximately 59% of the firm’s assets were held in its 700 domestic locations. Citi had 170 international branches.