Largest Bank In Every State Of 2023

The year 2023 has been a tough one on the banking sector. First, Silicon Valley Bank failed in March 2023, only to be followed in due course by Signature Bank
SBNY
and the seizure of First Republic Bank
FRC
in May 2023. For the majority of depositors, whose deposits are typically less than $250,000, their money is insured by the FDIC, so these bank failures didn’t wipe them out completely. But for those depositors who did have amounts in these banks of more than $250,000, their collapse has been devastating.

Although these banks had large amounts in deposits, they do not rank among the biggest banks in the United States. In order to identify the largest banks in the U.S., we sourced data from the FDIC to zero-in on the bank in each state that has the greatest amount in deposits from “inside of market,” meaning, inside the state.

Largest Bank in Every State of 2023

Not surprisingly, some of the bigger, well-known names like Wells Fargo
WFC
, Chase, or Bank of America
BAC
rank as the No. 1 biggest bank in the state. But many other states sometimes have unique and lesser-known banks as their largest.

The bank that proved to be the biggest bank in the most states was Bank of America, with 11 states. Wells Fargo was the largest bank in seven states, followed by Chase Bank in six states. In New England, TD Bank was very prominent, being the largest bank in Maine and New Hampshire. In the Midwest, U.S. Bank was one of the most dominant banks, being the biggest bank in Minnesota, Ohio, and Wisconsin.

In terms of market share inside the state, Citibank claims 62% of the market share in South Dakota, the highest rate of all 50 states plus D.C. However, it should be noted that South Dakota is also the headquarters of Citibank, which heavily tilted the market share in its favor. In Alaska, Wells Fargo accounts for 44.2% of the market. And the third greatest market share was in Rhode Island, where Citizens Bank takes up 39% of the market.

Read on to find out the biggest bank in every U.S. state.

Alabama

Largest bank in Alabama: Regions Bank

Deposits inside market: $32,590,079,000

Alaska

Largest bank in Alaska: Wells Fargo

Deposits inside market: $7,536,026,000

Arizona

Largest bank in Arizona: Chase Bank

Deposits inside market: $58,239,182,000

Arkansas

Largest bank in Arkansas: Arvest Bank

Deposits inside market: $13,803,860,000

California

Largest bank in California: Bank of America

Deposits inside market: $451,257,611,000

Colorado

Largest bank in Colorado: Wells Fargo

Deposits inside market: $41,808,963,000

Connecticut

Largest bank in Colorado: Bank of America

Deposits inside market: $44,720,763,000

Delaware

Largest bank in Delaware: Capital One
COF

Deposits inside market: $176,840,773,000

District of Columbia

Largest bank in D.C.: Bank of America

Deposits inside market: $16,255,281,000

Florida

Largest bank in Florida: Bank of America

Deposits inside market: $181,870,060,000

Georgia

Largest bank in Georgia: Truist Bank

Deposits inside market: $69,989,862,000

Hawaii

Largest bank in Hawaii: First Hawaiian Bank
FHB

Deposits inside market: $21,035,324,000

Idaho

Largest bank in Idaho: Wells Fargo

Deposits inside market: $7,830,911,000

Illinois

Largest bank in Illinois: Chase Bank

Deposits inside market: $139,242,326,000

Indiana

Largest bank in Indiana: Chase Bank

Deposits inside market: $30,099,728,000

Iowa

Largest bank in Iowa: Wells Fargo

Deposits inside market: $8,911,513,000

Kansas

Largest bank in Kansas: Bank of America

Deposits inside market: $6,964,205,000

Kentucky

Largest bank in Kentucky: PNC Bank

Deposits inside market: $12,654,364,000

Louisiana

Largest bank in Louisiana: Chase Bank

Deposits inside market: $25,583,103,000

Maine

Largest bank in Maine: TD Bank

Deposits inside market: $5,703,094,000

Maryland

Largest bank in Maryland: Bank of America

Deposits inside market: $46,611,103,000

Massachusetts

Largest bank in Massachusetts: State Street
STT
Bank and Trust

Deposits inside market: $166,578,000,000

Michigan

Largest bank in Michigan: Chase Bank

Deposits inside market: $74,899,526,000

Minnesota

Largest bank in Minnesota: U.S. Bank

Deposits inside market: $90,879,982,000

Mississippi

Largest bank in Mississippi: Regions Bank

Deposits inside market: $9,935,210,000

Missouri

Largest bank in Missouri: Bank of America

Deposits inside market: $24,236,417,000

Montana

Largest bank in Montana: Glacier Bank

Deposits inside market: $7,706,307,000

Nebraska

Largest bank in Nebraska: First National Bank of Omaha

Deposits inside market: $14,446,191,000

Nevada

Largest bank in Nevada: Wells Fargo

Deposits inside market: $26,691,546,000

New Hampshire

Largest bank in New Hampshire: TD Bank

Deposits inside market: $12,185,268,000

New Mexico

Largest bank in New Jersey: Wells Fargo

Deposits inside market: $11,400,660,000

New Jersey

Largest bank in New Jersey: Bank of America

Deposits inside market: $79,650,717,000

New York

Largest bank in New York: Chase Bank

Deposits inside market: $846,566,598,000

North Carolina

Largest bank in North Carolina: Bank of America

Deposits inside market: $212,309,529,000

North Dakota

Largest bank in North Dakota: First International Bank & Trust

Deposits inside market: $3,819,814,000

Ohio

Largest bank in Ohio: U.S. Bank

Deposits inside market: $95,057,465,000

Oklahoma

Largest bank in Oklahoma: BOK Financial

Deposits inside market: $17,253,030,000

Oregon

Largest bank in Oregon: U.S. Bank

Deposits inside market: $23,408,094,000

Pennsylvania

Largest bank in Pennsylvania: PNC Bank

Deposits inside market: $142,513,028,000

Rhode Island

Largest bank in Rhode Island: Citizens Bank

Deposits inside market: $17,282,575,000

South Carolina

Largest bank in South Carolina: Wells Fargo

Deposits inside market: $20,626,031,000

South Dakota

Largest bank in South Dakota: Citibank

Deposits inside market: $443,818,000,000

Tennessee

Largest bank in Tennessee: First Horizon Bank

Deposits inside market: $31,494,241,000

Texas

Largest bank in Texas: Charles Schwab
SCHW
Bank

Deposits inside market: $389,489,000,000

Utah

Largest bank in Utah: Morgan Stanley
MS
Bank

Deposits inside market: $169,572,000,000

Vermont

Largest bank in Vermont: M&T Bank
MTB

Deposits inside market: $4,660,924,000

Virginia

Largest bank in Virginia: Capital One

Deposits inside market: $85,062,845,000

Washington

Largest bank in Washington: Bank of America

Deposits inside market: $49,477,796,000

West Virginia

Largest bank in West Virginia: Truist Bank

Deposits inside market: $6,631,433,000

Wisconsin

Largest bank in Wisconsin: U.S. Bank

Deposits inside market: $43,453,725,000

Wyoming

Largest bank in Wyoming: First Interstate Bank
FIBK

Deposits inside market: $3,130,808,000