The Top 10 Banks in America

The Top 10 Banks in America

5. U.S. Bank/U.S. Bancorp

U.S. Bank, a division of U.S. Bancorp, ranks fifth on the list and has consolidated assets worth more than $547 billion. The bank, which has its headquarters in Minneapolis, primarily serves the Midwest and West. 2,352 domestic branches exist.

Old National Bank, Heritage Bank, People’s National Bank, Northwestern Commercial Bank, Heart Federal Savings and Loan, and West One Bancorp are just a few of the notable regional banks that have been merged or acquired to create the present bank. First Bank System bought and rebranded what is now known as U.S. Bancorp in 1997, but in 2000 Firstar Corporation took over ownership of the company. Since 1933, it has been against the law for banks to include the word “United States” in their names; the newly combined bank retained the name U.S. Bancorp. Many other institutions, including Pacific Century Bank, Bay View Bank, Vail Banks, Downey Savings & Loan, and Charter One Bank, have subsequently been added to its collection.

The Top 10 Banks in America

6. Truist Bank

Truist Bank is the most recent addition to this list of banks. In actuality, Truist was just founded in September of this year. It was created by the union of SunTrust and BB&T, two other big banks (Branch Banking and Trust Company). The bank now has total assets of $510 billion.

The bank has a variety of arms that deal with insurance, investment, wealth management, and other things, thus its interests are fairly diverse. Due to the fact that it presently runs 2,590 offices, it also boasts one of the largest networks of branch sites.

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The Top 10 Banks in America

7. PNC

PNC, a local banking company founded in Pittsburgh, mostly serves the East Coast. The bank has $453 billion in total assets and 2,202 locations in a few eastern states and Washington, D.C.

PNC is an abbreviation that stands for both Pittsburgh National Corporation and Providence National Corporation, two separate banks. Due to the similarity of their acronyms, the two Pennsylvania banks that combined to create the foundation of the current business opted to utilize merely the acronym. Among traditional banks, PNC was a pioneer in the use of “virtual wallet” services.

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