Ranking top U.S. players

3 in 5 of top 50 banks and thrifts grow in size in Q2'17

09/06/2017 - 11:48
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Written by S&P Global Market Intelligence

S&P Global Market Intelligence, formerly S&P Capital IQ and SNL, is the premier provider of breaking news, financial data, and expert analysis on business sectors critical to the global economy. This article originally appeared on the SNL subscriber side of S&P Global's website.

By Razi Haider and Zuhaib Gull, S&P Global Market Intelligence staff writers

The largest U.S. banks and thrifts continued to grow in the second quarter, with 36 of the 50 largest institutions posting quarter-over-quarter gains.

Wells Fargo & Co. was the only one of the "Big Four" to buck this trend, posting a $20.69 billion decline in assets for the quarter.

Citigroup Inc., on the other hand, posted a $44 billion increase in assets, more than any other company in the top 50.

Methodology

To conduct this analysis, S&P Global Market Intelligence examined the largest U.S. banks and thrifts by assets with a deposits-to-assets ratio of at least 25% for the quarter ended June 30. Some financial institutions that are regulated as savings and loan or bank holding companies, such as Goldman Sachs Group Inc. and Morgan Stanley, did not meet this criterion.

To compile a pro forma ranking, S&P Global Market Intelligence calculates pro forma assets after taking into account pending M&A transactions or deals that have closed after quarter-end. To be included in the pro forma adjustments, the deal value must be at least $200 million or involve assets or deposits in excess of $1 billion. Loan portfolio deals are not included due to a general lack of data on both deal consideration and the impact on total assets.

RBC USA Holdco Corp. re-entered the list at number 20 with total assets of $147.05 billion after filing consolidated holding company financials for the second quarter. In previous periods, the Royal Bank of Canada U.S. unit has not always filed consolidated financial statements.

Newly announced mergers, acquisitions, and divestitures

Associated Banc-Corp entered the list at No. 48 after announcing July 20 that it would acquire Bank Mutual Corp. in a deal valued at $428.3 million. The company's assets were increased by $2.71 billion and deposits by $1.89 billion to reflect the pending acquisition.