Not sure about the US, but in the UK they stop recruiting if they've already filled the position - I've had a couple of banks get back to me after I've applied saying this. Bit frustrating because it feels like a waste and they might be missing out on decent talent, but obviously applying early shows them that you're keen.

 

It won't really help unless its rolling basis or if the bank has a specific early application cycle (MS had this for SA 2018 in 2017 for example)

I would wait until you have a summer internship secured to make your resume stronger

“If you ain’t first, you’re last!” - GOAT
 

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