--- title: "Commercial Banks Industry: Companies" description: "72 SEC filers are classified under the Standard Industrial Classification codes that describe the commercial banks industry." canonical: https://www.getswoopr.com/stocks/industries/financials/commercial-banks/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Commercial Banks Industry ## Direct Answer 72 SEC filers are classified under the Standard Industrial Classification codes that describe the commercial banks industry, and their latest annual reports show $663.0 billion of combined revenue and a median net margin of 134.4%. Investors should still evaluate its revenue model, industry-specific KPIs, valuation framework and the risks that can change the group's economics. ## Industry Overview Commercial banks take deposits and lend to businesses and consumers, earning the spread between loan yields and deposit costs plus fees. Credit quality, funding mix and capital strength determine results. The first numbers to compare across companies here are net interest margin, loan and deposit growth and net charge-offs. ## Key Industry Metrics - **Net interest margin**: Spread between loan yields and deposit costs, relative to earning assets. It is the core profit driver, and moves with rate policy and funding mix. - **Loan and deposit growth**: Increase in lending and customer deposits. Loan growth lifts income, and deposit growth shows funding strength, so compare the two. - **Net charge-offs**: Loans written off after recoveries, as a share of average loans. It reflects true credit losses, and is lower in good economies. - **Efficiency ratio**: Noninterest expense relative to revenue, so lower is better. It tells how well the bank controls branch, staff and technology costs. - **Common equity tier 1 ratio**: Core regulatory capital relative to risk-weighted assets. It shows loss-absorbing buffers and supports dividends and growth. ## Primary Macro Drivers - **Interest rate levels and yield curve**: Rates set the spread between what loans earn and deposits cost, so the yield curve and rate path move net interest margin. - **Loan demand and credit cycle**: Business and consumer borrowing lifts loan growth, while credit cycles drive charge-offs, shown in loan and deposit growth and net charge-offs. - **Deposit competition**: Customers moving funds to higher-paying accounts raise deposit costs and reduce margin, shown in net interest margin and deposit mix. - **Regulatory capital rules**: Capital rules set how much a bank can lend and return, shown in the common equity tier 1 ratio and efficiency of capital use. ## Major Risks - **Credit losses**: Borrower defaults rise in downturns and eat into earnings and capital. Watch net charge-offs, non-performing loans and provisions. - **Funding and deposit flight**: If depositors move money quickly, the bank must replace funds at higher cost or sell assets at a loss. Watch uninsured deposit share and liquidity disclosures. - **Margin compression**: Deposit costs rising faster than loan yields squeeze the spread. Watch net interest margin and deposit beta disclosures. - **Commercial real estate exposure**: Weak office or retail property can hit loans needing refinance. Watch commercial real estate exposure, non-performing loans and maturity schedules. ## Industry Characteristics | Characteristic | Profile | | --- | --- | | Cyclicality | Cyclical | | Capital Intensity | High | | Regulatory Intensity | High | | Industry Maturity | Mature | | Geographic Importance | U.S. | ## Commercial Banks Filers in the SEC Record 72 companies with annual reports in the dataset are classified by the SEC in the Standard Industrial Classification codes 6021, 6022, 6029. Their latest fiscal years end between 2022 and 2025, and together they reported $663.0 billion of revenue. Median revenue growth over the prior year was 5.9%. Median net margin was 134.4%. Median total liabilities were 90% of total assets, and 72 of 72 reported a profit in their latest year. | Company | Revenue | Growth | Operating margin | Net margin | Year | | --- | --- | --- | --- | --- | --- | | [Jpmorgan Chase & Co](https://www.getswoopr.com/stocks/companies/jpmorgan-chase/) | $182.4 billion | 2.8% | n/a | 31.2% | FY 2025 | | [Bank Of America Corp](https://www.getswoopr.com/stocks/companies/bank-of-america/) | $113.1 billion | 6.8% | n/a | 27.0% | FY 2025 | | [Citigroup Inc](https://www.getswoopr.com/stocks/companies/citigroup/) | $85.2 billion | 5.6% | n/a | 16.8% | FY 2025 | | [Wells Fargo & Company](https://www.getswoopr.com/stocks/companies/wells-fargo/) | $83.7 billion | 1.7% | n/a | 25.5% | FY 2025 | | [Capital One Financial Corp](https://www.getswoopr.com/stocks/companies/capital-one/) | $53.4 billion | 36.6% | n/a | 4.6% | FY 2025 | | [Us Bancorp \de\](https://www.getswoopr.com/stocks/companies/u-s-bancorp/) | $28.7 billion | 4.4% | n/a | 26.4% | FY 2025 | | [Pnc Financial Services Group, Inc.](https://www.getswoopr.com/stocks/companies/pnc-financial-services/) | $23.1 billion | 7.2% | n/a | 30.3% | FY 2025 | | [Bank Of New York Mellon Corp](https://www.getswoopr.com/stocks/companies/bny-mellon/) | $20.1 billion | 7.8% | n/a | 27.6% | FY 2025 | The 8 largest of 72 by revenue. Source: each company's own annual report as filed with the SEC (XBRL data), figures in U.S. dollars. A company's SIC code reflects its main business as the SEC records it, so it can differ from how an index provider or analyst classifies the company, and a diversified group appears under only one code. ## Where to Go Next The Commercial Banks guide describes how the industry earns money, what to measure and what can go wrong. To see how it compares, read the neighbouring industries in the same sector, then apply the same checks to a specific company. ### More in Financials - [Financials sector overview](https://www.getswoopr.com/stocks/industries/financials/) - [Commercial Finance](https://www.getswoopr.com/stocks/industries/financials/commercial-finance/) - [Card Networks](https://www.getswoopr.com/stocks/industries/financials/card-networks/) - [Commercial Lines Insurance](https://www.getswoopr.com/stocks/industries/financials/commercial-lines-insurance/) - [Capital Markets](https://www.getswoopr.com/stocks/industries/financials/capital-markets/) - [Commercial Mortgage REITs](https://www.getswoopr.com/stocks/industries/financials/commercial-mortgage-reits/) - [Canadian Banks](https://www.getswoopr.com/stocks/industries/financials/canadian-banks/) - [Community Banks](https://www.getswoopr.com/stocks/industries/financials/community-banks/) - [Buy Now Pay Later](https://www.getswoopr.com/stocks/industries/financials/buy-now-pay-later/) ### Put it to work - [How to analyze a stock](https://www.getswoopr.com/stocks/how-to-analyze-a-stock/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) - [Company research](https://www.getswoopr.com/stocks/companies/) - [All industries](https://www.getswoopr.com/stocks/industries/) ## Frequently Asked Questions What are the main KPIs for the Commercial Banks industry? Key performance indicators for the Commercial Banks industry include: Net interest margin, Loan and deposit growth, Net charge-offs, Efficiency ratio, Common equity tier 1 ratio. Which matter most depends on the company's model, so compare them across several companies rather than relying on one. How cyclical is the Commercial Banks industry? The Commercial Banks industry is cyclical, meaning its revenues and earnings tend to expand during economic expansions and contract during downturns. Investors should monitor leading economic indicators and interest rate trends when evaluating timing. What are the biggest risks in the Commercial Banks industry? The primary risks for Commercial Banks companies include: Credit losses, Funding and deposit flight, Margin compression, Commercial real estate exposure. Investors should assess each company's exposure to these factors and its track record of navigating them. **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).