Banking Boom – Chase and Bank of New York Mellon Gain Strength
JPMorgan Chase Bank, National Association, the largest bank in the U.S. with over $2 trillion in assets, was upgraded to a Weiss Safety Rating of B. The seventh-largest bank, Bank of New York Mellon($299.7 billion in assets), also received an upgrade to B-.
Overall, Weiss Bank Safety Ratings showed improvement in Q3, 2016. After a decline in recommended banks (rated B+ or higher) each of the prior two quarters, four more banks were added to the list.
Recommended banks increased 0.3 percent from 1,517 to 1,521 in Q3, 2016. Over the last two years, recommended banks were up 17.4 percent, a large increase as compared to the quarterly change.
In addition to increasing numbers of highly rated banks, Weiss upgraded 628 banks this quarter and downgraded 261.
Top 10 Largest Upgraded U.S. Banks
Name |
City |
State |
Total Assets (Bil $) |
Weiss Safety Rating |
| JPMorgan Chase Bank, National Association | Columbus | OH | 2,118.5 | B |
| Bank of New York Mellon | New York | NY | 299.7 | B- |
| MUFG Union Bank, National Association | New York | NY | 116.9 | C+ |
| E*TRADE Bank | Arlington | VA | 35.6 | B |
| BNY Mellon, National Association | Pittsburgh | PA | 23.4 | B- |
| Western Alliance Bank | Phoenix | AZ | 16.9 | A- |
| Rabobank, National Association | Roseville | CA | 14.2 | C |
| Bank of Hope | Los Angeles | CA | 13.5 | B- |
| South State Bank | Columbia | SC | 8.8 | B+ |
| EagleBank | Bethesda | MD | 6.7 | A- |
