SFCED | San Francisco Center for Economic Development

San Francisco Reclaims Crown as Nation’s Second-Largest Banking Center

After two decades, San Francisco is once again the nation’s second-largest banking center. Charlotte, North Carolina previously touted the title but today, San Francisco, with 26 financial institutions and $2.78 trillion dollars in assets, is second only to New York City.

San Francisco Banking Industry


San Francisco’s movement up the ranks serves as evidence of a dramatic rebound in San Francisco’s banking industry. A key to the success of the city’s banks is the remarkable wealth creation of companies like Twitter, headquartered in San Francisco. Also, in the recent past, the CEOs of Charles Schwab and Wells Fargo have spoken fondly of having their headquarters located in San Francisco. San Francisco’s robust banking industry serves as another reason to do business in the City by the Bay.

Read more: San Francisco Business Times San Francisco reclaims crown as nation’s second-largest banking