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.