Remember Too Big To Fail? That issue has been relegated to American history books. The trend is now Too Big To Stop Growing. The 10 Largest USA Banks reported aggregate total assets of $10.74 trillion for the QE 3-31-12. This is an increase of +$345 billion and +3.3% from the prior QE 12-31-11.
Capital One, Citigroup, JPMorgan Chase, and Bank of America reported the largest increases as the biggest got bigger. BNY Mellon reported the only decrease in total assets. The Capital One increase was due to the ING Direct acquisition completed during the quarter. The PNC Financial Services increase was the result of the completion of the RBC Bank (USA) acquisition.
Largest USA Banks by Total Assets The Trillion Dollar Club: JPMorgan Chase continues #1 with total assets of $2.32 trillion, Bank of America is #2 with $2.18 trillion, Citigroup is #3 with $1.94 trillion, and Wells Fargo continues #4 with $1.33 trillion. Next are Goldman Sachs at $951 billion and Morgan Stanley at $781 billion. U.S. Bancorp $341 billion, Bank of New York Mellon $300 billion, PNC Financial Services $296 billion, and Capital One at $295 billion round out the top 10.
The 10 Largest USA Banks reported an average capital to assets ratio of 10.3% for the QE 3-31-12, about average for the 5 quarters reviewed. BNY Mellon and U.S. Bancorp reported the largest increases. Capital One, PNC Financial Services, Morgan Stanley, Bank of America, and Citigroup reported decreases.
Largest USA Banks by Capital Ratio The 10%+ Club: PNC Financial Services, Capital One, BNY Mellon, Wells Fargo, U.S. Bancorp, and Bank of America all have capital ratios greater than 10%, which is very good. Citigroup, JPMorgan, Morgan Stanley, and Goldman Sachs are below 10%.