50 largest US banks by total assets, Q2 2025

Aggregate loan growth rose to a three-year high in the second quarter and M&A activity surged to reach a four-year high in July, causing shifts in the US banking industry asset rankings.

The 50 largest US banks reported a $638.42 billion increase in aggregate assets during the quarter, with 37 institutions recording asset growth. By comparison, the 50 largest US banks from a year ago reported a sequential aggregate asset decline of $128.01 billion in the second quarter of 2024.

As of June 30, the 50 largest US banks had a combined $25.176 trillion in assets, according to S&P Global Market Intelligence data.

A shuffle driven by large bank M&A

On July 14, Huntington Bancshares Inc. announced its $1.87 billion acquisition of Veritex Holdings Inc., making Huntington one of the largest banks to strike a bank deal since 2021. The Columbus, Ohio-based bank's assets were adjusted higher by $12.53 billion to reflect its pending acquisition, putting Huntington in the 20th spot based on second-quarter totals, up from 24th in the prior quarter.

Less than two weeks later, Pinnacle Financial Partners Inc. and Synovus Financial Corp. announced their merger of equals with a deal value of $7.90 billion, making it the largest US bank deal announced since 2021. Pinnacle's assets were adjusted higher by $61.06 billion to reflect the pending merger, bumping it to the 33rd spot from 50th in the previous rankings. The Nashville, Tennessee-based bank's sequential asset growth of 113.5% was the highest among the nation's 50 largest banks.

Bank of New York Mellon Corp. recorded the second-highest sequential increase in total assets, with 10.2% growth in the second quarter of 2025. The Wall Street Journal reported June 22 that Bank of New York Mellon's management reached out to Northern Trust Corp. to discuss a possible acquisition. The sale of Northern Trust would be one of the largest bank M&A deals by target total assets since the implementation of the Dodd-Frank Act in 2010 and would be a rare bank deal involving an acquirer designated as systemically important by the Financial Stability Board.

– Download a template to compare a bank's financials to industry aggregate totals. – Read some of the day's top news and insights from S&P Global Market Intelligence.

Big 4 banks' combined assets increase

Aggregate assets at the four largest US banks grew sequentially by $368.56 billion, or 3.0%, in the second quarter, compared to 5.9% growth in the previous quarter.

JPMorgan Chase & Co., the biggest US bank at $4.552 trillion in total assets as of June 30, reported a quarter-over-quarter increase of $194.63 billion in assets, or 4.5% in the second quarter.

Bank of America Corp. posted sequential growth of 2.7%, or an increase of $91.72 billion in assets. Citigroup Inc. reported asset growth of 2.0% from the prior quarter, while Wells Fargo & Co.'s assets increased 1.6% in the same period.

The Big Four banks logged solid results in the first reporting period since the April tariff announcements as their stocks dipped and recovered on mixed macroeconomic news.

Each of the four banks beat consensus forecasts for the second quarter, and guidance was upgraded to reflect a positive outlook on loan growth, credit performance and investment banking activity.

To conduct this analysis, S&P Global Market Intelligence examined the largest US banks and thrifts by assets with a deposits-to-assets ratio of at least 25% or at least $30 billion in deposits as of quarter-end.

To compile a pro forma ranking, S&P Global Market Intelligence calculates pro forma assets after accounting for pending M&A transactions as well as transactions that closed after quarter-end. To be included in pro forma adjustments, the deal value must be over $1 billion or involve assets or deposits in excess of $5 billion. Loan portfolio deals are not included because of a general lack of data on both deal consideration and the impact on total assets.

To view an Excel spreadsheet containing the top 50 US banks and thrifts in the second quarter of 2025, click here.

Growth outlook

US bank M&A activity is poised to accelerate in the second half of 2025 as serial acquirers and large deals return, creating advisory backlogs at top investment banking firms.

A recent Federal Reserve proposal could make it easier for banks with assets exceeding $100 billion to obtain a "well managed" rating, which is crucial for banks pursuing growth initiatives such as M&A. Advisers and analysts believe these changes could further boost dealmaking appetite among regional banks.

Meanwhile, smaller banks can expect less stringent M&A reviews following policy changes by regulators, leading to faster and cheaper deal reviews for community banks.