The Best Regional Banks In 2024

The majority of Bankrate’s top regional banks for 2024 provide customers with excellent deposit returns as well as cheap account fees, low to reasonable minimum balance requirements, and digital-banking conveniences. Many also provide easy-to-use smartphone apps and internet banking services.

Some of the top-tier regional banks have few branches but collaborate with huge ATM networks, allowing customers to access their accounts without incurring ATM surcharges.

Bankrate gathered information on the country’s most important regional banks and graded them on a variety of criteria, including annual percentage yields (APYs), account fees, product availability, digital-banking capabilities, and more. Here are Bankrate’s recommendations for the best regional banks in 2024.

Best regional banks

• CFG Bank
• Cross River Bank
• The Federal Savings Bank
• Frost Bank
• Huntington Bank
• NBKC
• PNC Bank
• Ridgewood Savings Bank
• Spring Bank
• Texas Capital Bank

1. CFG Bank

CFG Bank has only a few branches, all of which are in Maryland, but some of its accounts can be opened online. The privately held bank is also a part of the Allpoint ATM network, which has over 55,000 ATMs around the country.

The bank provides a broad variety of deposit products, including money market accounts and certificates of deposit (CDs). There is no minimum balance requirement for the free checking account.

CFG Bank established a nonprofit corporation in 2021 to assist individuals who lack opportunity and want to pursue a profession in the health care field. In addition, the bank gives to community organizations that promote education, recreation, and poverty alleviation.

Why We Chose It

• Highly competitive APYs

• Digital banking features

• Checking account options

* Highly competitive APYs

CFG Bank’s high-yield money market account and CDs offer competitive interest rates.

* Digital banking features

CFG’s online and mobile banking services enable you to handle bill payments, deposit checks, fund transfers, and other banking transactions. Customers can use a highly rated smartphone app as well as Zelle to make person-to-person payments.

* Checking account options

CFG provides a free checking account with no monthly fees that may be created with as little as a cent. It also has interest-bearing and student-checking accounts available.

2. Cross River Bank

Cross River Bank, situated in Fort Lee, New Jersey, has two offices and offers fee-free accounts with no minimums and rates that are higher than the national average. It provides checking, money market, savings, and CD accounts. Except for a modest $500 minimum to open a CD, there are no minimum balance limitations.

Although there are only a few Cross River ATMs, clients have free access to approximately 40,000 MoneyPass network ATMs countrywide. In addition, the bank will reimburse up to $6 in out-of-network ATM costs per month.

Why We Chose It

• Above-average APYs

• No monthly service fees

• No opening deposit barriers

* Above-average APYs

Cross River may be a good choice if you want a savings account rate that is significantly higher than the national average. All of the bank’s CDs pay above-average interest rates.

* No monthly service fees

Cross River provides savings, checking, and money market accounts with no monthly service fees that reduce your earnings.

* No opening deposit barriers

Checking, savings, and money market accounts have no minimum deposit restrictions.

3. The Federal Savings Bank

In Illinois, there are two Federal Savings Bank branches. While it specializes in mortgages, the bank also provides a comprehensive range of deposit products and a countrywide network of around 55,000 ATMs.

There are numerous CD terms available. The promotional CDs earn exceptionally competitive APYs and are available for terms ranging from one to five years. The bank offers two checking accounts: one that pays interest and has a $100 minimum balance, and the other that pays no interest and only costs $25 to open.

The bank also provides digital and mobile banking services, such as Zelle.

Why We Chose It

• High CD rates

• Checking account options

• No monthly fee

* High CD rates

The bank’s six promotional CD terms all offer attractive rates. They need $5,000 to get started.

* Checking account options

For about $25, customers can start a free checking account. Furthermore, the interest-bearing checking account option costs only $100 to start and earn the APY.

* No monthly fee

Once you reach the $25 initial minimum deposit, there is no monthly charge or minimum balance requirement for the Value Checking account.

4. Frost Bank

Frost Bank, founded in 1868, operates 191 branches throughout Texas. Its benefits include a highly rated mobile app and phone help 24 hours a day, seven days a week.

Frost offers moderately competitive CD and money market rates, and customers with higher balance categories are rewarded with larger rewards. There are three checking accounts available, each with early direct deposit, over 1,700 ATMs throughout Texas, and a $100 overdraft cushion.

Frost gives time and resources to organizations in the sectors of education, economic development, the arts, and health and human services in the communities where it has a presence. In addition, the bank offers educational scholarships to Texas students.

Why We Chose It

• Digital banking features

• Accessible customer service

• Checking account options

* Digital banking features

Customers can use Zelle, digital wallets, and a mobile app that has received high ratings in app stores.

* Accessible customer service

Customer service is available by phone 24 hours a day, seven days a week, and clients who are connected into online banking or the mobile app can speak with a representative at any time.

* Checking account options

Frost provides three checking accounts, each of which can earn interest provided certain conditions are met. The Personal Account has a monthly fee that can be waived by meeting minimum balance or direct deposit criteria, or by being under the age of 25.

5. Huntington National Bank

Huntington National Bank operates over 1,000 locations in 11 Midwest states, as well as Florida and Colorado. The bank, which was founded in 1866, provides deposit accounts, asset management products, and insurance.

Huntington offers a variety of savings and money market accounts, CDs with varying durations, and free and interest-bearing checking accounts.

Huntington is notable for its digital tools. All of its checking accounts include early direct deposit and Zelle. The bank’s mobile app also features budgeting tools that track expenditure and allow you to set spending restrictions for specific areas.

Why We Chose It

• Checking account options

• Overdraft forgiveness

• Digital banking features

* Checking account options

Huntington provides a no-frills, free checking account as well as two interest-bearing accounts that forgo some or all ATM fees.

* Overdraft forgiveness

Overdrafts of $50 or less are not subject to fees, and clients who overdraw on larger sums are granted a 24-hour grace period before a fee is levied.

* Digital banking features

Customers can receive account alerts, and debit cards can be linked to digital wallets to allow them to pay for transactions using their smartphones. The bank also provides an innovative mobile app with budgeting options.

6. NBKC Bank

NBKC Bank, which has four branches in the Greater Kansas City area, provides personal and home loans, CDs, a money market account, and a checking account.

The bank’s Everything Account, a checking account, performs especially well. It provides access to over 37,000 ATMs as well as up to $12 in out-of-network ATM fee refunds per month. On all balances, the account yields a highly competitive rate for a checking account, and there is no monthly service cost.

CDs with periods of seven months or more receive competitive rates. The two-, three-, four-, and five-year terms start at just $250. There are also seven IRA CDs available.

Why We Chose It

• High-interest checking account

• No monthly fees

• ATM fee reimbursements

* High-interest checking account

The Interest Rate on Everything Account is high, and you only need a penny to receive the APY.

* No monthly fees

There are no monthly fees for either the checking or money market accounts.

* ATM fee reimbursements

Each month, customers can get up to $12 in out-of-network ATM fees returned.

7. PNC Bank

With approximately 2,000 branches in the Northeast, South, and Midwest, PNC Bank has a pretty strong regional presence. Customers can make branch appointments in advance by visiting the bank’s website.

The bank offers a variety of CDs with periods ranging from seven days to ten years. The CDs all need a $1,000 deposit to open, and several terms provide above-average APYs.

For people who live outside of the bank’s branch network, PNC’s high-yield checking account offers a very competitive APY. There is no monthly fee or required minimum balance.

According to PNC’s website, the bank gives approximately $65 million to charity trusts and foundations each year. The PNC Foundation, which works with community-based NGOs to improve educational programs, fund the arts, and promote economic development, is the bank’s own foundation.

Why We Chose It

• CD options

• Competitive savings rate

• Community aid

* CD options

PNC Bank offers a variety of CDs with varying terms. Some of the CDs are promotional and provide higher-than-average interest rates.

* Competitive savings rate

Those who live in states where PNC branches do not exist can open a high-yield savings account online and receive a top-tier rate.

* Community aid

PNC funds a variety of activities that benefit communities by improving educational programs and fostering economic development.

8. Ridgewood Savings Bank

Ridgewood Savings Bank, headquartered in New York City, provides consumers with affordable rates as well as a comprehensive range of products and digital capabilities. The bank provides a competitively yielding savings account, a wide ATM network, and a rewards debit card.

Ridgewood contributes to local charity through corporate philanthropy, employee donations matched by banks, and volunteer hours. In addition, the bank provides a financial literacy program to schools and senior persons in the region.

Why We Chose It

• Competitive APYs

• Digital leader

• Large ATM network and debit rewards

* Competitive APYs

The Smart Move Online Savings Account, which costs a cent to create and has no monthly service fee, offers a reasonable rate.

* Digital leader

Ridgewood has a highly rated mobile app as well as digital solutions including Alexa Voice Banking, Money Management for budgeting, and Zelle for person-to-person payments.

* Large ATM network and debit rewards

Customers can use the Allpoint and MoneyPass networks to access over 90,000 fee-free ATMs globally. Users of debit cards can also receive cash back or reward points that can be used to pay for travel, events, and other purchases.

9. Spring Bank

Spring Bank has only two branch facilities, both in the Bronx, however it is a member of the MoneyPass ATM network, which has around 40,000 surcharge-free ATMs countrywide and provides fee-free access to Citibank branch ATMs. It also has a popular smartphone app.

Spring Bank has been designated as a Community Development Financial Institution (CDFI) by the United States Treasury in recognition of its investments and loans in low- and moderate-income neighborhoods in New York City.

Checking, savings, and money market accounts, as well as CDs, are available at attractive rates. Most accounts have modest opening deposit requirements.

Why We Chose It

• Competitive APYs

• Broad accessibility

• No overdraft fees

* Competitive APYs

Spring Bank offers excellent interest rates on its deposit options, which include an interest-bearing checking account.

* Broad accessibility

Spring Bank has a small physical footprint but a large digital footprint thanks to internet banking, its mobile app, and access to Zelle, a person-to-person payment platform.

* No overdraft fees

The paperless Green Checking Account is accessible via debit card and has no overdraft or nonsufficient funds (NSF) fees.

10. Texas Capital Bank

Texas Capital Bank has branches in Texas’ five largest cities and provides bank products, credit cards, and loans. As part of the 2024 Bankrate Awards, Texas Capital Bank was recognized the best regional bank.

The bank’s accounts have modest minimum deposit requirements, and CD rates are attractive. The Star Plus Checking account has no monthly fees, and ATM cardholders have fee-free access to over 55,000 Allpoint ATMs in the United States.

The Texas Capital Bank Foundation contributes time and money to charitable groups that help low- and middle-income families in the markets where the bank operates.

Why We Chose It

• Low minimum deposit requirements

• Competitive CD rates

• Interest-bearing checking

* Low minimum deposit requirements

Many accounts, including the Star Plus Checking account, money market account, and savings account, have a minimal minimum initial deposit.

* Competitive CD rates

CD durations range from one month to two years, and all offer competitive or at least above-average returns.

* Interest-bearing checking

The Star Plus Checking account pays interest and reimburses ATM fees. It also does not require a monthly cost.

Pros and cons of regional banks

How to choose a regional bank

When researching regional banks, you should first determine your financial requirements. Consider whether you need basic checking and savings accounts, loans, investment services, or more specialized features such as digital banking tools. These products and services may not be available at all regional banks.

If you value branch accessibility, ensure that the bank has a presence in your area. Consider fee-free ATM access to avoid incurring out-of-network ATM costs.

Other considerations are as follows:

• Monthly maintenance costs, overdraft fees, and early withdrawal penalties on CDs are examples of account fees.
• Minimum required balance
• Options for customer service
• Sign-up bonuses and promotional rates are examples of account promotions.

It is critical to ensure that the financial institution meets your individual demands and preferences. It is also a good idea to evaluate your banking relationship on a regular basis to ensure that your chosen bank continues to fulfill the needs of your changing financial circumstances.