Best Banks In The United States
There are 9,432 banks and credit unions in the United States - and dozens more FinTechs that operate similar to banks. That breaks down to 4,672 FDIC-insured banks, and 4,760 NCUA insured credit unions.
That's actually pretty low - at the peak, there were 17,900 banks in the United States, and a whopping 23,866 credit unions in the United States. But between mergers, acquisitions and bank failures, the numbers have steadily been dropping.
But as a consumer, that opens up the question: what is the best bank in the United States? Or, even more local - what's the best bank in my state? Does it make a difference if I'm looking at it for personal or business (hint: yes it does)? Do I need a branch, or should I stick with online banks?
We break down the best national banks in the United States, and then you can click your state and see the best banks in your state.
National Banking Quick Stats
Here are some banking quick statistics for your information:
- There are 4,672 banks in the United States
- There are 4,760 credit unions in the United States
- Banks had a combined $22.3 trillion in assets at the end of 2022
- There are roughly 124 FinTech Banks (banking-as-a-service) and 600 additional FinTechs providing banking functions
Curious about the difference between banks and credit unions? See this guide: Banks vs. Credit Unions.
Top 10 Biggest Banks In The United States
Here are the 10 biggest banks in the United States by the amount of deposits they have:
- JP Morgan Chase
- Bank of America
- Citigroup
- Wells Fargo
- Goldman Sachs
- Morgan Stanley
- U.S. Bancorp
- Truist Financial
- PNC Financial Services
- Charles Schwab Corporation
Remember, just because they are a "big" bank doesn't mean they're a great bank for you. While many of these banks have national coverage (which can be helpful), they also might not have the exact product or service you need right now - like checking, savings, loans, etc.
List Of Best Banks By State
While many banks do operate nationally (like our list above), other banks operate regionally or locally. These banks and credit unions can sometimes be a better fit for what you need as a consumer or business - whether that's a free checking account, high-yield savings account, or car loan.
Some credit unions, specifically, may not even offer the option for you to open an account with them if you don't live or work in their service area. Also, if you've moved away from your first bank, you might be finding it inconvenient to get cash, deposit checks, or other banking functions - so you may want to find another option in your area.
With that in mind, find your state in our list below to see our list of the best banks in your state:
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
U.S. Territories
American Samoa
Guam and Northern Marina Islands
Puerto Rico
U.S. Virgin Islands
Other Resources
You might be looking for other resources on finding the best banks or credit unions.
Check these out:
Editor: Colin Graves Reviewed by: Chris Muller