A more thorough explanation:

A bank holding company is a company that owns or controls one or more banks. To be considered a bank holding company, the company must own or control at least 25% of the bank. The abbreviation for bank holding company is BHC.

• JPMorgan Chase & Co. is a bank holding company that owns several banks, including JPMorgan Chase Bank, N.A. and Chase Bank USA, N.A.
• Wells Fargo & Company is a bank holding company that owns Wells Fargo Bank, N.A.

These examples illustrate the definition of a bank holding company because they both own multiple banks. JPMorgan Chase & Co. owns JPMorgan Chase Bank, N.A. and Chase Bank USA, N.A., while Wells Fargo & Company owns Wells Fargo Bank, N.A. Both companies own at least 25% of these banks, making them bank holding companies.