NAICS 522110 Quarterly Industry Report
Commercial Banking
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 522110Sector: Finance and Insurance (52)Updated: Q1 2026
About This Report
This industry profile for Commercial Banking (NAICS 522110) draws on data from the U.S. Census Bureau[4], FDIC Quarterly Banking Profiles[6], and Federal Reserve Board economic data[7]. Published by Fair Market Value and updated quarterly, it provides valuation professionals, banking industry participants, and lenders with classification context and market intelligence for assessing commercial banking businesses. Additional data is drawn from Bureau of Labor Statistics[8], SBA[9].. The editorial analysis reflects the independent assessment of FairMarketValue.com's research team, with all quantitative claims sourced to publicly verifiable databases.
Industry Snapshot
Key metrics for the commercial banking industry.
Industry Definition & Overview
Commercial Banking (NAICS 522110) encompasses establishments primarily engaged in accepting deposits and making commercial loans to businesses, offering services including deposit acceptance, business lending, and treasury management solutions Census Bureau NAICS 522110[4]. Large banks dominate the sector; JPMorgan Chase leads with $3.46 trillion in consolidated assets Federal Reserve Large Commercial Banks[5], followed by Bank of America at $2.59 trillion and Wells Fargo at $1.71 trillion. Competition remains intense.
Mobile banking adoption exceeded 76% of Americans in 2023, driving digital transformation investments across the industry. Net income totaled $268.2 billion in 2024 FDIC Quarterly Banking Profile[6], reflecting strong sector profitability despite modest loan growth. Deposit growth slowed to 0.4 percent quarter-over-quarter in Q4 2024, signaling cautious consumer behavior. Bankers expect loan demand to increase over the next 12 months.
Regulatory oversight from the Federal Reserve and FDIC remains stringent, requiring substantial capital reserves and compliance infrastructure. JPMorgan Chase holds 11.7 percent of domestic deposits and Bank of America holds nearly 11 percent as of March 2024. Community and regional banks continue serving local markets with relationship-based lending models. Small banks play an outsized role in SBA lending, originating a majority of SBA 7(a) loans despite holding a smaller share of total deposits. Digital transformation, regulatory compliance, and capital management represent ongoing strategic priorities for commercial banks of all sizes.
What's Included in This Industry
- Commercial banks accepting deposits from business customers
- Business lending and commercial loan origination
- Treasury management and cash management services
- Working capital financing and lines of credit
- Trade financing and international banking services
- Merchant banking and investment services
- Correspondent banking relationships
- Depository services for business accounts
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Finance and Insurance | 52 |
| Subsector | Credit Intermediation and Related Activities | 522 |
| Industry Group | Depository Credit Intermediation | 5221 |
| NAICS Industry | Commercial Banking | 52211 |
| National Industry | Commercial Banking | 522110 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 522292 | Real Estate Credit | Real Estate Credit establishments extend credit through mortgage bankers and originators, representing a specialized lending segment distinct from the broader commercial lending and deposit-taking functions of commercial banks. |
| 522130 | Credit Unions | Credit Unions accept members' share deposits in cooperatives organized to offer consumer loans to members, distinct from commercial banking in cooperative structure, governance, and member-focused lending. |
| 522180 | Savings Institutions and Other Depository Credit Intermediation | Savings Institutions and Other Depository Credit Intermediation includes establishments accepting deposits and making mortgage, real estate, and consumer loans, differing from commercial banking in target market focus. |
| 522210 | Credit Card Issuing | Credit Card Issuing involves establishments providing credit by issuing credit cards, representing a specialized financial function separated from traditional commercial banking deposit and lending operations. |
| 551111 | Offices of Bank Holding Companies | Offices of Bank Holding Companies comprise legal entities holding securities or equity interests in banks for controlling purposes, providing corporate-level management distinct from direct commercial banking operations. |
| 522390 | Other Activities Related to Credit Intermediation | Other Activities Related to Credit Intermediation includes loan servicing, check cashing, and money transmission activities, representing ancillary services complementary to but separate from core commercial banking. |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 8.7% | 7,259 |
| 2 | Texas | 7.8% | 6,481 |
| 3 | Florida | 6.0% | 5,024 |
| 4 | New York | 4.8% | 4,043 |
| 5 | Illinois | 4.5% | 3,781 |
| 6 | Pennsylvania | 4.2% | 3,483 |
| 7 | Ohio | 3.8% | 3,194 |
| 8 | North Carolina | 3.2% | 2,633 |
| 9 | Georgia | 3.0% | 2,513 |
| 10 | Virginia | 2.9% | 2,398 |
% Of Establishments
0%
9%
Source: County Business Patterns, U.S. Census Bureau[3]
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 522110?
NAICS 522110 covers establishments primarily engaged in accepting deposits from customers and making business loans. Per the Census Bureau 2022 NAICS classification[4], the industry includes commercial banks offering deposit acceptance, business lending, treasury management, working capital financing, and correspondent banking. Large institutions like JPMorgan Chase, Bank of America, and Wells Fargo dominate, but community and regional banks also participate.
How is the commercial banking industry structured?
Commercial banking is dominated by a small number of large institutions with the top four banks controlling about 30 percent of domestic deposits. JPMorgan Chase leads with $3.46 trillion in consolidated assets Federal Reserve Large Banks[5]. Community and regional banks serve local markets with relationship lending. Consolidation has reduced the number of banks over decades, though employment remains near 1.96 million workers.
What is the SBA size standard for commercial banks?
The SBA size standard for NAICS 522110 is $850 million in assets SBA Size Standards[10]. Banks at or below this threshold qualify as small businesses for SBA loan programs, federal contracting set-asides, and other federal assistance programs.
What NAICS codes are related to commercial banking?
Closely related codes include 522120 (Savings Institutions), 522130 (Credit Unions), 522180 (Other Depository Credit Intermediation), 522210 (Credit Card Issuing), 551111 (Offices of Bank Holding Companies), and 522390 (Other Activities Related to Credit Intermediation). Each represents a distinct segment of the broader financial services value chain.
Which industries work most closely with commercial banking?
Savings institutions (522120) compete in deposit markets. Credit unions (522130) serve overlapping consumer segments. Bank holding companies (551111) manage commercial bank subsidiaries. Credit card issuers (522210) provide specialized credit products. Investment banks (523110) compete in capital markets. Insurance carriers partner through bancassurance arrangements.
What activities are included in NAICS 522110?
Activities include accepting business deposits, originating commercial and industrial loans, providing working capital financing, treasury management services, trade financing, correspondent banking relationships, and merchant banking services. Commercial banks serve businesses rather than individual consumers, distinguishing them from retail banking institutions. Census NAICS 522110[4]
Can you get an SBA loan through a commercial bank?
Yes. Many commercial banks are SBA-preferred lenders authorized to process SBA-guaranteed loans including 7(a) loans for general business purposes and 504 loans for fixed asset financing. SBA lending allows commercial banks to extend credit to small businesses that might not qualify for conventional commercial loans. Banks with $850 million or less in assets themselves qualify as small businesses under SBA definitions. SBA Lender Programs[13]
Which states have the highest concentration of commercial banking?
Major financial centers including New York, California, Texas, and Illinois concentrate the highest number of commercial banking employees and assets. New York City serves as the headquarters for JPMorgan Chase, Citigroup, and numerous regional banks. Charlotte, North Carolina hosts Bank of America's headquarters. San Francisco is home to Wells Fargo. Geographic concentration reflects historical banking center development and regulatory frameworks.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]Census Bureau NAICS 522110 census.gov
- [5]Federal Reserve Large Commercial Banks federalreserve.gov
- [6]FDIC Quarterly Banking Profile fdic.gov
- [7]Federal Reserve Board economic data federalreserve.gov
- [8]Bureau of Labor Statistics bls.gov
- [9]SBA sba.gov
- [10]SBA Size Standards sba.gov
- [11]SBA 7(a) loans sba.gov
- [12]504 loans sba.gov
- [13]SBA Lender Programs sba.gov
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