Top 10 Asian American-Owned Banks in 2025 with Assets and Services Overview
Discover the 10 most successful Asian American-owned banks in the U.S. in 2025, highlighting their assets, services, and significant roles in supporting diverse communities.
Exploring the origins and growth of Asian American-owned banks reveals a powerful story of community advancement and economic success. Among minority depository institutions (MDIs) in the United States, the largest group—comprising 71 banks—is owned by Asian or Pacific Islander Americans. These institutions nearly match the combined total assets of all other MDIs nationwide.
This remarkable presence reflects the rapid growth of the Asian American population, now the fastest-growing racial group in the U.S., projected to become the largest immigrant demographic within the next 50 years.
Key Insights
- Asian and Pacific Islander American-owned banks represent the largest racial group among MDIs, totaling 71 institutions.
- Over half of the top 10 banks have 51% or more voting stock owned by Asian and/or Pacific Islander American individuals.
- Several leading banks feature majority Asian and/or Pacific Islander American board members, serving predominantly Asian American communities.
- East West Bank stands as the largest Asian American–owned bank, managing $69.5 billion in assets as of 2024.
Understanding Minority Depository Institutions (MDIs)
As of late 2023, the FDIC insured 4,587 commercial banks and savings institutions across the U.S. MDIs are defined as federally insured institutions where either 51% or more voting stock is held by minority individuals or where minorities make up the majority of the board and the institution serves a predominantly minority community. Ownership must be by U.S. citizens or permanent residents. Since 2021, this classification also includes women-owned institutions.
Among the 71 Asian or Pacific Islander American-owned banks, most meet the ownership threshold, and the rest qualify by board composition and community served. Our focus here is on the top 10 banks based on success and assets, excluding credit unions to maintain clarity.
The Vital Role of Asian American-Owned Banks
Banks provide crucial financial services such as checking and savings accounts, loans, mortgages, and credit facilities that support personal and business financial health. Asian American banks, in particular, understand the unique economic challenges and opportunities within their communities, which are diverse and economically varied.
Data from the Bureau of Labor Statistics in early 2024 shows Asian American workers having higher median weekly incomes compared to other racial groups, yet income inequality within the community is significant. This diversity creates a broad spectrum of banking needs, which these banks expertly address.
Leading Asian American-Owned Banks in 2024
Ranking the top 10 banks by total assets, these institutions serve various U.S. regions, with some overlap in service areas.
1. East West Bank
Founded in 1973 in Southern California, East West Bank is the largest Asian American-owned bank, with $69.5 billion in assets. It operates over 120 branches worldwide, including locations across the U.S. and major cities in China and Hong Kong. Services include personal, business, commercial, international banking, and wealth management.
2. Cathay Bank
Established in 1962, Cathay Bank is the oldest Chinese American-founded bank in the U.S., with $23.1 billion in assets. It has expanded to multiple states and international locations. Recognized consistently by Forbes and known for charitable efforts, Cathay offers comprehensive personal, business, and wealth management services.
3. Bank of Hope
As the first super-regional Korean American bank, Bank of Hope holds $19.1 billion in assets. Founded in Los Angeles, it serves communities in 10 states and offers personal and business banking alongside wealth management and scholarship programs.
4. Hanmi Bank
Founded in 1982 to serve Los Angeles’s Koreatown, Hanmi Bank has $7.5 billion in assets. It operates 35 branches and nine loan offices, focusing on personal and business banking, loans, and community volunteer programs.
5. Preferred Bank
Since 1991, Preferred Bank specializes in middle-market and international businesses, managing $6.7 billion in assets with branches in California, New York, and Texas.
6. CTBC Bank Corp. (USA)
CTBC Bank, originating in 1989, operates on both East and West coasts with $5.3 billion in assets. It offers personal and business banking services, including wealth management.
7. Royal Business Bank
Launched in 2008, Royal Business Bank has $4 billion in assets with 13 branches. It provides personal, business, international banking, and cash management services and has earned multiple industry accolades.
8. Bank of Guam
Established in 1972, Bank of Guam has $2.5 billion in assets and is a key financial institution in the Western Pacific, providing personal, business, insurance, and investment services.
9. Leader Bank
Opening in 2002, Leader Bank serves the Boston area with $4.4 billion in assets, offering personal and business banking, as well as mortgage services.
10. PCB Bank
Founded in 2003, PCB Bank focuses on community development with $2.8 billion in assets and operates 16 branches in California, New Jersey, New York, and Texas.
Frequently Asked Questions
How Many Asian American-Owned Banks Are There in the U.S.?
As of Q4 2023, there are 71 Asian American-owned banks operating nationwide, concentrated in major financial hubs.
Is Bank of America Partly Owned by China?
No, Bank of America is a U.S.-based bank. While it held a stake in China Construction Bank, it has since divested those interests.
Which Is China’s Largest Bank?
The Industrial and Commercial Bank of China (ICBC) is the largest by total assets, followed by China Construction Bank.
Conclusion
Asian American-owned banks are vital financial partners that understand and serve the diverse needs of their communities. Their growth mirrors the expanding Asian American population, and their success is rooted in tailored services and community engagement. The top 10 banks listed here exemplify leadership in this sector, combining strong asset bases with deep community connections.
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