JPMorgan Chase remained the biggest U.S. bank by asset size in the first quarter of 2012, according to Charlottesville, Va.-based SNL Financial.
According to the financial information firm, JPM Chase had $2.32 trillion in total assets, followed by Bank of America with $2.18 trillion, Citigrouo with 1.94 trillion and Wells Fargo with $1.33 trillion.
According to SNL, the top 50 list saw many newcomers in the first quarter due to recently available data for holding companies previously regulated by the now defunct Office of Thrift Supervision.
On SNL's previous rankings, some thrifts had to be ranked at the subsidiary level, since banking data was only available for the units, but now most holding companies previously regulated by the OTS have to file the same reports as bank holding companies. The newly disclosed data has meant that some companies moved up in SNL's rankings, including San Francisco-based Charles Schwab Corp. entering at No. 19. Its subsidiary Charles Schwab Bank was ranked 26th in the previous list. San Antonio-based United Services Automobile Association ranked at No. 20, while its subsidiary USAA FSB was 31st in the previous list. New York-based Deutsche Bank Trust Corp. landed at No. 30, while Deutsche Bank Trust Co. Americas was No. 32 in the previous list.
Among other changes in the top 18, HSBC North America Holdings Inc. and PNC Financial Services Group Inc. changed positions, with HSBC North America overtaking PNC Financial for eighth place, followed by TD Bank US Holding Co. and State Street Corp. swapping spots, with TD Bank moving to No. 10 and State Street moving to No. 11.
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio