Total loans and leases at the 15 largest U.S. banks and thrifts by assets grew 1.4% in the fourth quarter of 2019, compared to the wider industry's 1.0% growth.
On a year-over-year basis, however, the group posted a 2.8% increase versus the wider industry's 3.5% gain. The wider industry includes U.S. commercial banks, savings banks, and savings and loan associations but excludes nondepository trusts and banks with a foreign banking organization charter.
In aggregate, the 15 largest U.S. banks by assets showed quarterly increases in consumer loans, closed-end first-lien one- to four-family loans, commercial real estate loans and multifamily loans, while home equity loans and commercial and industrial loans saw decreases.
Among the 15 largest U.S. banks, nine reported an increase in commercial real estate loans during the fourth quarter. Of the Big Four banks, JPMorgan Chase & Co. and Citigroup Inc. reported quarterly increases of 0.5% and 6.4%, respectively, while Bank of America Corp. and Wells Fargo & Co. experienced dips of 0.1% and 1.3%, respectively.
Aggregate commercial and industrial loans at domestic offices for the group were down 1.0% in the fourth quarter of 2019, compared to a decline of 0.4% for the industry. Bank of America, the nation's largest commercial and industrial lender, increased its balances by 0.2% during the quarter.
Meanwhile, consumer loans for the group were up 4.2% during the quarter. Capital One Financial Corp.'s consumer loan balances were up 9.6% from the linked quarter, the largest increase among the group, followed by HSBC North America Holdings Inc. at 8.8%. Ally Financial Inc. was the only company to have reported a quarter-over-quarter drop in its consumer loan balance, at 0.8%.
In multifamily loans, Fifth Third Bancorp led the pack with 13.6% loan growth quarter-over-quarter. Loans at MUFG Americas Holdings Corp. and TD Group US Holdings LLC grew 9.9% and 9.0%, respectively.
This analysis excludes Truist Financial Corp., which completed a merger of equals in the fourth quarter of 2019.
