SNL Financial's top 50 biggest banks and thrifts in the U.S.

Posted by RJ & Makay on September 2, 2010

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SNL Financial's top 50 biggest banks and thrifts in the U.S.

SNL Financial’s quarterly release of the 50 biggest banks and thrifts in the U.S. by assets revealed just what a takeover can do with to a bank ranking. First Niagara Financial Group’s acquisition of NewAlliance Bancshares, Inc., worth $1.15  billion, propelled the regional bank up from number 46 to number 38 among the largest 50. First Niagara’s acquisition of NewAlliance will increase its balance sheet by 42%, plus expands its presence into Connecticut and Massachusetts.  Currently, First Niagara Financial serves upstate New York and western and eastern Pennsylvania. The deal is expected to close in the second quarter of 2011.

The rest of the rankings on SNL Financial’s top 50 list had very little movement. The top 11 banks have stayed in the same positions they were in during the first quarter of the year.  Continuing to lead the list is Bank of America Corp, followed by JPMorgan Chase & Co. These banks are the only ones that have over $2 trillion in assets. Citigroup is third on the list, with Wells Fargo & Co following in fourth place. Down at the bottom, Commerce Bancshares Inc. reappeared on the list, after failing to make the cut in the last two quarters. It has taken the place of First Bancorp, based in San Juan, Puerto Rico, which is currently attempting to raise capital and rid its portfolio of risk under an agreement with regulators it made in June.

Other than the First Niagara deal, mergers and acquisitions in banking has been relatively quiet, a calm that follows the highly active period during the financial crisis in late 2009 which had triggered giant takeovers of struggling banks and an avalanche of bank failures.  Large banks like Washington Mutual and Wachovia have been swiped off the scene as larger institutions gobbled them up.  According to research director Christine Barry of the Aite Group, “There’s still some activity, but it’s among the smaller banks that won’t affect the top 50.”

The second quarter was a mixed bag for banking overall.  The FDIC reported that the industry recorded its highest quarterly earnings in almost three years.  Yet, total lending by banks has dropped by $107.5 billion, or 1.4% from the previous quarter, and the number of institutions in trouble increased by more than 50.

The Top 50 Banks

NL Financial's list ranks the largest U.S. banks and thrifts by assets. The following list gives the current ranking, the bank or thrift's name, its previous ranking, its headquarters, its total assets (in billions) and its total deposits (in billions).

  1. Bank of America Corp., 1, Charlotte, N.C., $2,343.9, $956.5
  2. JPMorgan Chase & Co., 2, New York, $2,031.0, $887.8
  3. Citigroup Inc., 3, New York, $1,937.7, $814.0
  4. Wells Fargo & Co., 4, San Francisco, $1,225.9, $815.6
  5. HSBC North America Holdings Inc., 5, New York, $334, $116.7
  6. U.S. Bancorp, 6, Minneapolis, $283.2, $183.1
  7. PNC Financial Services Group Inc., 7, Pittsburgh, $259.9, $178.7
  8. Bank of New York Mellon Corp., 8, New York, $237.5, $143.7
  9. Capital One Financial Corp., 9, McLean, Va., $197.5, $117.3
  10. SunTrust Banks Inc., 10, Atlanta, $170.7, $118.7
  11. TD Bank US Holding Co., 11, Portland, Maine,$170.7, $137.6
  12. State Street Corp., 13, Boston, $162.1, $95.7
  13. BB&T; Corp., 12, Winston-Salem, N.C., $155.1, $104.5
  14. Citizens Financial Group Inc., 14, Providence, R.I., $140.0, $93.9
  15. Regions Financial Corp., 15, Birmingham, Ala., $135.3, $96.3
  16. Fifth Third Bancorp, 16, Cincinnati, $112.0, $82.1
  17. KeyCorp, 17, Cleveland, $94.2, $62.4
  18. ING Bank FSB, 18, Wilmington, Del., $90.0, $77.4
  19. UnionBanCal Corp., 19, San Francisco, $84.3, $66.3
  20. Santander Holdings USA Inc. 20, Boston, $83.1, $41.4
  21. Northern Trust Corp., 21, Chicago, $80.0, $58.0
  22. BancWest Corp., 22, San Francsico, $75.3, $46.8
  23. M&T; Bank Corp., 23, Buffalo, N.Y., $68.2, $47.5
  24. Harris Financial Corp., 24, Wilmington, Del., $65.2, $31.9
  25. BBVA USA Bancshares Inc., 25, Houston, $65.1, $46.1
  26. Discover Financial Services, 26, Riverwoods, Ill., $62.2, $35.0
  27. Hudson City Bancorp Inc., 27, Paramus, N.J., $60.9, $25.2
  28. Comerica Inc., 28, Dallas, $55.9, $39.8
  29. Marshall & Ilsley Corp., 29, Milwaukee, $53.9, $39.6
  30. Zions BanCorp., 31, Salt Lake City, $52.1, $42.0
  31. Huntington Bancshares Inc., 30, Columbus, Ohio, $51.8, $39.8
  32. Charles Schwab Bank, 32, Reno, Nev., $49.8, $45.9
  33. Popular Inc., 34, Hato Rey, Puerto Rico, $42.4, $27.1
  34. E-Trade Bank, 33, Arlington, Va., $42.4, $28.0
  35. New York Community Bancorp Inc., 35, Westbury, N.Y., $42.0, $22.4
  36. USAA FSB, 36, San Antonio, Texas, $41.7, $37.3
  37. Synovus Financial Corp., Columbus, Ga., $32.4, $26.3
  38. First Niagara Financial Group Inc., 46, Buffalo, N.Y., $29.2, $18.9
  39. OneWest Bank FSB, 38, Pasadena, Calif., $28.0, $14.7
  40. RBC BanCorp., 39, Raleigh, N.C., $26.5, $19.3
  41. First Horizon National Corp., 40, Memphis, Tenn., $26.3, $15.2
  42. BOK Financial Corp., 41, Tulsa, Okla., $23.7, $16.1
  43. Associated Banc-Corp, Green Bay, Wisc., $22.8, $17.0
  44. People's United Financial Inc., Bridgeport, Conn., $22.0, $15.8
  45. City National Corp., 47, Los Angeles, $21.2, $18.0
  46. First Citizens BancShares Inc., 44, Raleigh, N.C., $21.1, $17.8
  47. East West Bancorp Inc., 45, Pasadena, Calif., $20.0, $14.9
  48. Astoria Financial Corp., 48, Lake Success, N.Y., $19.7, $12.2
  49. GE Money Bank, 50, Draper, Utah, $19.2, $12.3
  50. Commerce Bancshares Inc., no ranking, Kansas City, Mo., $18.4, $14.5

 

Links of Interest

SNL’s U.S.  Top 50 Banks at a Glance (Los Angeles Times)

SNL Financial Reveals Top 50 U.S. Banks (by J.W. Elphinstone, AP)

-RJ & Makay

 

 



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