Skip to headerSkip to main contentSkip to footer
Get our Free E-newslettersGet our Free E-newsletters
Kiplinger logoLink to homepage
Get our Free E-newslettersGet our Free E-newsletters
Subscribe to Kiplinger
Subscribe to Kiplinger
Save up to 76%
Subscribe
Subscribe to Kiplinger
  • Store
  • Home
  • Investing
  • Retirement
  • Taxes
  • Personal Finance
  • Your Business
  • Wealth Creation
  • More
    • Podcasts
    • Economic Outlooks
    • Tools
  • My Kiplinger
    • Kiplinger's Personal Finance Magazine
    • The Kiplinger Letter
    • The Kiplinger Tax Letter
    • Kiplinger's Investing for Income
    • Kiplinger's Retirement Report
    • Store
    • Manage My E-Newsletters
    • My Subscriptions
  • Home
  • personal finance
  • banking
  • savings
savings

Best Regional Banks, 2019

Many regional banks (by our definition, those with branches in fewer than 15 states) offer accounts and services that are just as robust as those of nationwide institutions—and they may be more involved in their communities.

by: Lisa Gerstner
July 1, 2019

Getty Images

Many regional banks (by our definition, those with branches in fewer than 15 states) offer accounts and services that are just as robust as those of nationwide institutions—and they may be more involved in their communities. These banks are all contenders for top regional bank but operate in different regions.

Take a look at our top picks for regional banks.

  • The Best Bank for You, 2019
Informa Financial Intelligence compiled the data as reported by the financial institutions that it tracks; the information is subject to change. All rates as of June 20, 2019.

1 of 4

BEST: Fifth Third Bank

Courtesy Fifth Third Bank

  • Why it won: It offers numerous ways to avoid a monthly fee for its basic checking account, and it has an excellent account for customers who keep big balances.
  • Standout accounts: Preferred Checking is free if your deposit and investment balance reaches $100,000 at least once in a month, and it’s packed with perks. Promotional CD rates are attractive—2% on CDs with a nine- or 15-month term ($5,000 minimum deposit).
  • Where it is: More than 1,200 branches in 10 midwestern and southern states.

Cincinnati-based Fifth Third is working on becoming nationally chartered. But for now, we consider it a regional bank that covers a sizable swath of the U.S. The Essential Checking account offers numerous ways to skip an $11 monthly fee, including keeping $1,500 or more in deposit and investment accounts, spending at least $500 per month on a Fifth Third credit card, or having a loan or credit line with the bank (military members qualify with a $500 direct deposit, and the account is free for students). Preferred Checking includes 10 rebates of out-of-network ATM surcharges per month; discounted online investment trades and no custody or record-keeping fee with a brokerage account; free personal checks, money orders, cashier’s checks and a safe-deposit box; preferred savings and loan interest rates; and free or discounted identity-theft protection services.

Fifth Third waives service fees on its savings and money market deposit accounts if you have a checking account with the bank or are enrolled in the military account; otherwise, you’ll need a $500 minimum to avoid a fee. For the most part, rates scrape along at 0.2% or less, although you can earn 0.4% on a balance of at least $100,000 in a money market account if you have an eligible checking account. (Account terms and interest rates listed are for customers in Cincinnati.)

 

  • 7 Habits of People With Excellent Credit Scores

2 of 4

BEST: People's United Bank

Courtesy People's United

  • Why it won: Most anyone can find a place to park cash among the bank’s diverse checking options.
  • Standout accounts: If you make 10 or more electronic payment transactions monthly, ePlus Checking levies no service charge. Some recent rates on CDs opened online were compelling, such as 2.1% for a six-month plus CD and 2.3% for an 11-month term ($500 minimum; checking account required).
  • Where it is: More than 400 branches in New England and New York.

People's United Bank has options for customers at varying levels. The basic Plus Checking account waives its $12 monthly fee if you keep a $1,000 minimum balance, have a direct deposit or are 65 or older. Advantage Checking (a $7,500 combined minimum in deposit and investment accounts and a home equity loan or line of credit waives the $25 monthly fee) reimburses ATM surcharges when you use machines outside your state and provides free personal checks, cashier’s checks and wire transfers in U.S. dollars. Premier Advantage Checking ($75,000 combined minimum) tacks on refunds of ATM fees worldwide, a discounted safe-deposit box and an interest rate of 0.02%. (Account terms and interest rates are for customers in Hartford.)

 

  • 9 Things You'll Regret Keeping in a Safe Deposit Box

3 of 4

BEST: Union Bank

Courtesy Union Bank

  • Why it won: A new free checking account gave the bank a lift this year.
  • Standout accounts: Bank Freely is a free, no-minimum checking account that offers two monthly rebates of out-of-network ATM surcharges.
  • Where it is: About 330 branches for consumers in California, Oregon and Washington.

The Banking By Design account is attractive. It lets you choose services a la carte; if you want paper statements, for example, they’re $2 a month, and cashier’s checks and money orders are $1 monthly (avoid a $5 monthly fee by making a $250 monthly mobile or direct deposit). If you can keep $25,000 in deposit and investment balances, or you have a linked mortgage with the bank, check out Priority Banking checking, which offers unlimited ATM rebates worldwide, preferred savings rates, and two additional checking or savings accounts with no monthly fee, among other benefits. Teen Access Checking is free for those 13 to 17 years old, and college students can use a free account, too.

Savings yields are meager; for better rates, check out PurePoint Financial, a nationwide internet bank that is a division of Union Bank. PurePoint recently offered 2.35% on a savings account, 2.75% on a one-year CD and 3% on a five-year CD (there’s a $10,000 minimum to open an account).

 

4 of 4

The Best Banks and Credit Unions for You, 2019

Getty Images

These stellar banks and credit unions are making all the right moves to win satisfied customers:

Best National BanksBest Banks for High-Net-Worth FamiliesBest Internet BanksBest Banks for Families With StudentsBest Banks for No-Fee, No-FussBest Credit UnionsBest Banks for Frequent TravelersBest Regional BanksBest Banks for Retirees

  • banking
  • savings
Share via EmailShare on FacebookShare on TwitterShare on LinkedIn

Recommended

Switch Accounts for a Better Yield?
Financial Planning

Switch Accounts for a Better Yield?

If your current account has a reliable history of strong yields, it might be worth sticking around.
February 23, 2021
Is Pet Insurance Worth It?
Making Your Money Last

Is Pet Insurance Worth It?

If you’ve added a dog or cat to your family, consider pet insurance to manage routine and unexpected veterinary bills.
December 16, 2020
17 Best Amazon Prime Perks for the Holidays
savings

17 Best Amazon Prime Perks for the Holidays

Having an Amazon Prime membership isn't just about Amazon Prime Day. From Amazon for Students to Amazon Music, the benefits of Amazon Prime are far re…
December 1, 2020
Find Higher Yields for Your Cash
Financial Planning

Find Higher Yields for Your Cash

Interest rates are scraping bottom, but here’s a road map to accounts that will help your money grow.
November 24, 2020

Most Popular

Senate Passes $3,000 Child Tax Credit for 2021
Coronavirus and Your Money

Senate Passes $3,000 Child Tax Credit for 2021

The provision would temporarily increase the child tax credit to $3,000 or $3,600 per child for most families and have 50% of it paid in advance by th…
March 6, 2021
Senate Passes Bill with More "Targeted" Stimulus Payments
Coronavirus and Your Money

Senate Passes Bill with More "Targeted" Stimulus Payments

The Senate finally passes the $1.9 trillion COVID-relief bill. But fewer people will get a third stimulus check under the Senate version than under th…
March 6, 2021
Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
  • Customer Service
  • About Us
  • Advertise With Us (PDF)
  • Privacy Policy
  • Cookie Policy
  • Kiplinger Careers
  • Accessibility
  • Privacy Preferences

Subscribe to Kiplinger's Personal Finance

Be a smarter, better informed investor.
Save up to 76%Subscribe to Kiplinger's Personal Finance
Dennis Publishing Ltd logoLink to Dennis Publishing Ltd website
Do Not Sell My Information

The Kiplinger Washington Editors, Inc., is part of the Dennis Publishing Ltd. Group.
All Contents © 2021, The Kiplinger Washington Editors

Follow us on InstagramFollow us on FacebookFollow us on TwitterConnect on LinkedInConnect on YouTube