Thirty-five of the 50 largest U.S. banks posted a quarterly increase in assets during the third quarter. The top three, JPMorgan Chase & Co., Bank of America Corporation and Citigroup Inc., added over $85 billion in assets combined in the third quarter.
RBC US Group Holdings LLC, which was not included in the second-quarter ranking due to the filing date of its Y9C report, entered the top 50 at No. 31 with $120.11 billion in assets.
To conduct this analysis, S&P Global Market Intelligence examined the largest U.S. banks and thrifts by assets with a deposits-to-assets ratio of at least 25% for the quarter ended Sept. 30. Banks and thrifts are exempted from the deposits-to-assets ratio criteria if they hold more than $20 billion in deposits as of the most recent quarter.
To compile a pro forma ranking, S&P Global Market Intelligence calculates pro forma assets after taking into account pending M&A transactions or deals that have closed after quarter-end. To be included in the pro forma adjustments, the deal value must be at least $500 million or involve assets or deposits in excess of $2 billion. Loan portfolio deals are not included because of a general lack of data on both deal consideration and the impact on total assets.
Newly announced mergers, acquisitions and divestitures
People's United Financial Inc.'s assets and deposits were raised by $2.97 billion and $1.95 billion, respectively, to account for the pending acquisition of Belmont, Mass.-based BSB Bancorp Inc., which was announced Nov. 27.
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Click here to access the top-50 table in Excel.