Of the 50 largest U.S. banks and thrifts, 37 reported an increase in assets during the second quarter.

East West Bancorp Inc. entered the pro forma list at No. 50, after its total assets rose 7.5% quarter over quarter to $49.41 billion as of June 30. The bank's subsidiary, East West Bank, reported $1.43 billion in borrowings with a maturity of at least a year from the Federal Reserve under the Paycheck Protection Program Liquidity Facility in its June 30 call report filing. In addition, the bank reported an outstanding balance of $1.75 billion in Small Business Administration Paycheck Protection Program loans.

Raymond James Financial Inc. dropped out of the top 50 list after its total assets shrunk 10.3% quarter over quarter to $44.68 billion. The company's deposits also dropped $4.65 billion.

JPMorgan Chase & Co., the country's largest bank by assets, reported a $73.68 billion increase in total assets during the second quarter. Bank of America Corp., the U.S.'s second-largest bank, reported the largest increase in assets at $121.73 billion. Meanwhile, assets at Wells Fargo & Co. fell $12.58 billion.

Altogether, the country's top 50 banks added $330.21 billion in assets during the second quarter.

BNP Paribas USA Inc., the French banking giant's U.S. subsidiary, reported a 22.7% decrease in assets during the second quarter, the most among the top 50 U.S. banks and thrifts. The company decreased its federal funds purchased and securities sold under agreements to repurchase by more than $40 billion during the quarter.

First Horizon National Corp. and IBERIABANK Corp. completed their merger-of-equals transaction on July 1, and First Horizon completed its acquisition of 30 branches from Truist Financial Corp. on July 17. First Horizon ranks at No. 39 on the top 50 list with total assets of $85.69 billion on a pro forma basis.

To view an Excel spreadsheet containing the top 50 U.S. banks and thrifts in the second quarter, click here.