Friday, June 5, 2009, 11:43pm EDT Report: BofA takes top bank ranking Dayton Business Journal - by Greg Barr DBJ Contributor Blue Letter Icon
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Bank of America Corp. is the largest U.S. bank based on first quarter assets of $2.32 trillion, according to a report by research firm SNL Financial.
The bank’s acquisitions of Countrywide Financial Corp. and Merrill Lynch & Co. moved Charlotte, N.C.-based BofA (NYSE: BAC) to the top spot from No. 3 in the first quarter of 2008.
Citigroup (NYSE: C), which was No. 1 a year ago, fell to No. 3 with assets of $1.8 trillion. It was the only bank or thrift among the country’s 50 largest institutions to move down the list.
JPMorgan Chase & Co. (NYSE: JPM) to held on to the No. 2 spot with a reported $2.08 trillion in first-quarter assets. Wells Fargo & Co. (NYSE: WFC), which recently acquired Charlotte-based Wachovia Corp., was at No. 4, with $1.28 trillion. |