Banking and Financial Institutions

Of banks in the United States, approximately 4 percent are located in the Fourth District. These banks hold about 10 percent of the nation’s banking assets. Six of the largest 50 bank holding companies can also be found in the District: two each in Cleveland and Pittsburgh, and one each in Cincinnati and Columbus.

Headquarters of Major Bank Holding Companies

Assets of Major Bank Holding Companies

Major* Bank Holding Company
City
Assets
(thousands of $)
National City Cleveland
133,701,291
Fifth Third Bancorp Cincinnati
95,613,539
Keycorp Cleveland
85,794,644
PNC Financial Services Group Pittsburgh
73,141,914
Mellon Financial Pittsburgh
35,246,966
Huntington Bancshares Columbus
31,485,745

*Defined as the 50 largest bank holding companies.

A larger share of state banking assets are located outside the major metropolitan areas in Kentucky and West Virginia, speaking to the relatively rural character of each. By contrast, Pennsylvania’s and Ohio’s top three banking markets have about 60 percent and 90 percent of their state’s banking assets, respectively.

Distribution of Bank Assets in Fourth District States

Metropolitan Area Number of Banks Percent of State Assets
Ohio
Cincinnati
47
43.1%
Cleveland
29
30.8%
Columbus
29
15.7%
Other MSAs
69
6.6%
No MSA
137
3.8%
Kentucky
Lexington
23
10.6%
Louisville
16
29.5%
Cincinnati
14
4.0%
Other MSAs
16
6.6%
No MSA
171
49.4%
Pennsylvania
Philadelphia
68
19.6%
Pittsburgh
42
38.6%
Harrisburg-Lebanon-Carlisle
19
3.9%
Other MSAs
69
27.6%
No MSAs
65
10.3%
West Virginia
Charleston
5
15.3%
Wheeling
4
21.7%
Huntington
4
4.3%
Other MSAs
8
25.6%
No MSA
53
33.1%