what is the number one bank in the united states
JPMorgan Chase
title: Bank of America text: Bank of America The Bank of America Corporation (abbreviated as BofA) is an American multinational investment bank and financial services company based in Charlotte, North Carolina with central hubs in New York City, London, Hong Kong, and Toronto. Bank of America was formed through NationsBank's acquisition of BankAmerica in 1998. It is the second largest banking institution in the United States, after JP Morgan Chase. As a part of the Big Four, it services approximately 10.73% of all American bank deposits, in direct competition with Citigroup, Wells Fargo, and JPMorgan Chase. Its primary financial services revolve around commercial banking, wealth title: The Bank of New York Mellon text: world and the seventh largest wealth management firm in the United States. In 2018, BNY Mellon ranked 175 on the Fortune 500 and 250 on the Financial Times Global 500. It was named one of world's 50 Safest Banks by "Global Finance" in 2013 and 2014, and one of the 20 Most Valuable Banking Brands in 2014 by "The Banker". The bank says it is the longest running bank in the United States, and whether it deserves this recognition is sometimes disputed by its rivals and also by some historians. The Bank of North America was chartered in 1781, and title: JPMorgan Chase text: JPMorgan Chase J.P. Morgan Chase & Co. is an American multinational investment bank and financial services company headquartered in New York City. JPMorgan Chase is the largest bank in the United States, and the second largest bank in the world by total assets, with the amount of $2.534 trillion. It is the world's most valuable bank by market capitalization. As a "Bulge Bracket" bank, it is a major provider of various investment banking and financial services. It is one of America's Big Four banks, along with Bank of America, Citigroup, and Wells Fargo. JPMorgan Chase is considered to be a title: Banking in the United States text: America was opened to facilitate more advanced financial transactions. As of 2018, the largest banks the United States were JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and Goldman Sachs. It is estimated that banking assets were equal to 56 percent of the U.S. economy. In the early 1700s, merchants traveled from Britain to the United States and established the Bank of Pennsylvania in 1790 to fund the American Revolutionary War (1775–1783). During this time, the Thirteen Colonies had not established currency and used informal trade to finance their daily activities. On January 4, 1782, the first commercial bank in title: Banking in the United States text: insured by the FDIC. The five largest banks by assets in 2011 were JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs. Banking in the United States Banking in the United States began in the late 1790s along with the country's founding and has developed into highly influential and complex system of banking and financial services. Anchored by New York City and Wall Street, it is centered on various financial services namely private banking, asset management, and deposit security. The earliest remnants of the banking industry can be traced to 1790 when the Bank of Pennsylvania was founded