Industries › NAICS 522110
Industry · NAICS 522110 · sector 52 Finance and insurance
Commercial Banking
Federal contract obligations classified under NAICS 522110, the organisations that win them and the agencies that award them.
USAspending caveat. Figures are obligations reported by federal agencies to USAspending.gov, not payments. In USAspending's words: "An outlay occurs when federal money is actually paid out, not just promised to be paid ('obligated')." "Every agency has a Senior Accountable Official who must officially certify that the quarterly financial data submitted by their agency is accurate and complete." "If there are any discrepancies in procurement data, FPDS is the authoritative source." Contract data for the Department of Defense and the U.S. Army Corps of Engineers is published with a 90-day delay. Data loaded 30 Sep 2026.
Federal agencies obligated $331M in contracts classified under NAICS 522110, Commercial Banking, in FY2026, and $772M over the five fiscal years since FY2023; the industry ranks 218 of 526 on this site.
Obligations were up 222% on FY2025 ($103M), with $0 so far in FY2027.
The largest recipient organisations over FY2022–FY2025 were Maximus Federal Services, Inc. ($271M), Bank of New York Mellon (the) ($180M) and Educational Computer Systems, Inc. ($63M).
By place of performance, the most money went to VA, DC and PA.
Contract obligations by fiscal year
Compared with the largest industry FY2026
| Measure | This industry | Aircraft Manufacturing | All contracts |
|---|---|---|---|
| Contract obligations, FY2026 | $331M | $45B | $716B |
| Five-year total | $772M | $211B | $3.0T |
| Share of all contract obligations, five years | 0% | 7.1% | 100% |
Top contractors obligations, FY2022–FY2025
| # | Organisation | Obligations |
|---|---|---|
| 1 | Maximus Federal Services, Inc. | $271M |
| 2 | Bank of New York Mellon (the) | $180M |
| 3 | Educational Computer Systems, Inc. | $63M |
| 4 | Citibank, N.A. | $51M |
| 5 | Navy Federal Credit Union | $17M |
| 6 | U.S. Bank National Association | $8.9M |
| 7 | Bank of America, National Association | $8.2M |
| 8 | U.S. Bancorp | $4.1M |
| 9 | Massmutual Asset Finance LLC | $1.3M |
| 10 | Umb Bank, N.A. | $1.0M |
| 11 | Citibank, National Association | $260K |
| 12 | Jpmorgan Chase Bank, National Association | $253K |
| 13 | Fti Consulting, Inc. | $150K |
| 14 | VA Department of Transportation | $24K |
| 15 | Wex Bank | $17K |
| 16 | Marine Federal Credit Union | $15K |
| 17 | Intrust Bank, National Association | $14K |
| 18 | Industrial Bank | $11K |
| 19 | Hancock Whitney Bank | $3K |
| 20 | Jpmorgan Chase Bank, National Association | $0 |
| 21 | Fifth Third Bank, National Association | −$288 |
| 22 | Brown Brothers Harriman & Co. | −$3K |
| 23 | Pathward Financial, Inc. | −$5K |
| 24 | First-Citizens Bank & Trust Company | −$26K |
| 25 | Armed Forces Bank, National Association | −$59K |
$325K among the top 40 went to recipients not shown.
Buying agencies $1.0M+ awards
Where the work is performed
Largest awards since FY2023
| Recipient | Awarding agency | Type | Award value | Begun | Place | Record |
|---|---|---|---|---|---|---|
| Citibank, National Association | Department of State | ContractDefinitive Contract | $343M | 26 Sep 2025 | VA | USAspending |
| Educational Computer Systems, Inc. | Department of Education | ContractDelivery Order | $38M | 31 Mar 2023 | PA | USAspending |
| Navy Federal Credit Union | Department of DefenseDefense Finance and Accounting Service | ContractDefinitive Contract | $24M | 22 Sep 2023 | TX | USAspending |
| Educational Computer Systems, Inc. | Department of Education | ContractDefinitive Contract | $8.8M | 31 Jul 2025 | PA | USAspending |
| U.S. Bank National Association | Department of Veterans Affairs | ContractDelivery Order | $2.5M | 23 Dec 2025 | MN | USAspending |
| Recipient not shown | Department of Health and Human ServicesCenters for Medicare and Medicaid Services | ContractDefinitive Contract | $1.4M | 30 Dec 2024 | MD | USAspending |
| U.S. Bank National Association | Department of Health and Human ServicesOffice of the Assistant Secretary for Administration | ContractDelivery Order | $1.4M | 27 Dec 2023 | MN | USAspending |
Other industries in sector 52: Finance and insurance
- 524114 Direct Health and Medical Insurance Carriers $177B
- 522390 Other Activities Related to Credit Intermediation $5.1B
- 524292 Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds $3.2B
- 523150 Investment Banking and Securities Intermediation $1.2B
- 522320 Financial Transactions Processing, Reserve, and Clearinghouse Activities $481M
- 524298 All Other Insurance Related Activities $238M
- 523920 Portfolio Management $231M
- 524210 Insurance Agencies and Brokerages $202M
- 523940 Portfolio Management and Investment Advice $54M
- 523910 Miscellaneous Intermediation $50M
- 525120 Health and Welfare Funds $41M
Questions and answers
How much does the federal government spend on NAICS 522110?
$331M in contract obligations classified under Commercial Banking in FY2026, $772M over the five fiscal years since FY2023. Obligations are commitments, not payments.
Who are the top contractors in Commercial Banking?
Maximus Federal Services, Inc. ($271M), Bank of New York Mellon (the) ($180M), Educational Computer Systems, Inc. ($63M), Citibank, N.A. ($51M), Navy Federal Credit Union ($17M), by contract obligations over FY2022–FY2025.
Which agencies buy in this industry?
By the value of $1.0M-plus contracts since FY2023: Department of State ($343M), Department of Education ($47M), Department of Defense ($24M), Department of Health and Human Services ($2.7M), Department of Veterans Affairs ($2.5M).
What is a NAICS code?
In USAspending's words: "NAICS stands for the North American Industrial Classification System. This 6-digit code tells you what industry the work falls into. Each contract record has a NAICS code." Assistance awards (grants, loans, direct payments) carry no NAICS code and are not counted here.
Provenance
Source: USAspending.gov API v2, spending by category (NAICS) by fiscal year, recipient cross-tabulation for FY2022–FY2025 and award search, loaded 30 Sep 2026. State figures come from each state's top-100 NAICS list, so small amounts in a state may be missing. See methodology.