MoneyCenter Banks and Investment Bankers are actually cyclicals, because they are much more affected by the economy than Regional Banks and Small Local Banks. Regional and Small Local Banks tend to behave more like Medium Growth and Slow Growth Stocks than Cyclicals. MoneyCenter Banks are giant banks that have operations throughout the country and also have significant international operations. They also have money management and investment banker operations, trading/investing and other businesses. The former CEO of Wells Fargo was on TV the other day saying his company "has 90 different businesses". The Money Center Banks currently are JP Morgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC) and Citigroup (C), and they boom and bust along with economy, and therefore, are considered cyclicals. Citigroup, for example, has alternated between booms and teetering on the verge of bankruptcy at least 4 times since 1970.