Bank of America's acquisition of Merrill Lynch secured its position as the biggest bank in the country.
More on Banks Citi Insiders Reap Big Profit on TradesChile Sues Banks Over Hidden Pinochet AccountsDollar 3-month Interbank Lending Rate EasesNY AG Requests Merrill Bonus Order Be OverturnedMerrill 'Misled' Congress on Bonuses: AGNY AG Requests Merrill Bonus Order Be OverturnedJPMorgan Chase CEO Dimon 'Optimistic'Merrill, SEC Settle 'Squawk Box' CaseSEC Head Says 'uptick Rule' May Be ReinstatedCanada Urges US, Europe To Fix Their Banks Market Activity American International Group Incorporated| AIG DOWNBank of America Corporation| BAC UPCitigroup Incorporated| C UPBofA now tops the list of U.S. banks and thrifts with $2.49 trillion worth of assets, $310.4 billion more than No. 2 competitor JPMorgan Chase (JPM Quote - Cramer on JPM - Stock Picks), according to a report by SNL Financial.
JPMorgan still leads Bank of America in terms of deposits, however, holding over $1 trillion in consumer dollars, vs. BofA's $979.1 billion. Without the Merrill acquisition, BofA would have ranked third behind JPMorgan and Citigroup (C Quote - Cramer on C - Stock Picks), which has $1.94 trillion in assets and $774.2 billion in deposits at the end of 2008.
Behind those three banking behemoths came Wells Fargo (WFC Quote - Cramer on WFC - Stock Picks), with $1.31 trillion in assets and $781.4 billion in deposits.
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