S&P Global Market Intelligence has distributed a brief on traditional banks, providing a list of banks by assets as well as deposits. According to the report, a majority of the largest US banks posted increases in assets in the first quarter as failures and exited M&A transactions caused the top 50 rankings to adjust.
Of the 50 largest US banks, 37 reported quarter-over-quarter increases in total assets, while 13 reported a decline.
Aggregate assets of the Big Four US banks, JP Morgan, B of A, Citi, and Wells Fargo, increased by $498.61 billion, or 4.5%, from the fourth quarter of 2022.
The country’s top 10 banks collectively showed asset growth of $629.80 billion during the period, accounting for more than 70% of the aggregate asset growth at the 50 largest US banks.
Of the 37 banks with assets between $50 billion and $500 billion, 27 reported asset growth during the first quarter of 2023.
First Citizens BancShares saw its assets nearly double during Q1 in comparison to the previous quarter.
New York Community Bancorp Inc. posted the second-highest increase at 37.2%.
The list of the top 50 banks by assets is viewable below.
