10 Best Banks in Mississippi for 2024

If you’re one of the nearly 3 million Magnolia state residents and are currently looking for a new financial institution to bank with, this article is for you.

Mississippi is well served by local banks and large national financial institutions. Consumers and businesses have many options when choosing a bank. Let’s look at the best banks in Mississippi and how to find the best one for you.

10 Best Banks in Mississippi

Here are the top banks in Mississippi you can open an account with today:

  1. Ally Bank: Best for High-Yield Online Banking
  2. Regions Bank: Best for Large Selection of Checking Accounts
  3. Cadence Bank: Best for In-Person Banking
  4. Planters Bank: Best for Community Bank Feel
  5. BankPlus: Best for Personal Financial Tools
  6. BankFirst: Best for Online Banking
  7. Cleveland State Bank: Best for Personalized Assistance
  8. Bank of Anguilla: Best for Christmas Club Savings
  9. Renasant Bank: Best for Nationwide Deals
  10. Trustmark: Best for Wealth Management

1. Ally Bank ally bank logo

Best For: High-yield online banking

Ally Bank is an online-only bank, but that doesn’t stop it from giving traditional financial institutions a run for their money. You’ll find that Ally Bank offers most of the banking services that its competitors, which have a physical presence, do.


Ally’s only checking account pays interest at a rate of 0.25% APY and charges no monthly fees. Account holders with a savings account with Ally can benefit from their RoundUps feature that rounds up transaction amounts to the nearest dollar and transfers the difference to your savings.

Ally’s Online Savings account charges no monthly fees and requires no fixed minimum opening deposit. The account pays interest of 4.35% on all balances.

Ally offers CDs, a money market account, multiple lending options, and investment and retirement services. Ally Bank only offers personal accounts.


  • Higher than average interest rates
  • Fee-free access to over 43,000 AllPoint ATMs
  • No minimum balance requirements


  • Limited account options
  • No brick-and-mortar banks for in-person banking


2. Regions Bank regions bank logo

Best For: Large selection of checking accounts

Regions Bank is a member of FDIC with its headquarters in Birmingham, Alabama. It has reached the list of biggest banks in the United States, at number 25. Regions offers personal, small business, and commercial banking with a wide selection of accounts for consumers with any type of need.


Regions Bank offers six different checking accounts. All of these have access to online and mobile banking features, Zelle, and mobile check deposit capabilities. Regions Bank’s most popular checking account is its LifeGreen Checking Account. This bank account has a monthly fee of $8, which the bank will waive if you meet their criteria. Opening an account requires a $50 minimum opening deposit, and the account comes with a Visa debit card.

Regions Bank offers four different traditional savings accounts. The bank’s most popular savings account is its LifeGreen Savings Account. While you must deposit at least $50 to open this account, it has no monthly maintenance fee or minimum balance requirements after that.Regions Bank also offers mortgages, personal and home loans, Certificates of Deposit (CDs), and Money Market Accounts (MMAs).


  • Access to almost 2,000 ATMs
  • LifeGreen savings account pays out a 1% annual savings bonus
  • Many checking account options


  • Most accounts have a monthly fee
  • Annual savings bonus on LifeGreen Savings limited to $100


4. Cadence cadence bank logo

Best For: In-person banking

Cadence Bank, formerly named BancorpSouth, is headquartered in Tupelo, Mississippi. They offer a wide range of banking products to meet any personal finance need.


Cadence Bank offers five different checking accounts. The Cadence My Way Checking Account requires a minimum opening deposit of $50 and charges an $8 monthly fee. Cadence Bank waives monthly account fees if account holders meet predetermined criteria. This bank account comes with a MasterCard debit card that you can customize. All accounts can access online and mobile banking features, bill pay services, and overdraft protection.

Cadence Bank offers four different savings accounts as well as HSAs. Their My Goals Savings Account comes with budgeting tools and online banking features. The bank pays interest on this account, which compounds daily and pays monthly. You need to deposit a minimum of $100 to open this account. The bank will also charge a $5 monthly fee should your balance fall below $100.

Cadence Bank also offers credit cards, lines of credit, mortgages, personal loans, small business, and commercial banking features.


  • No monthly fees on My Way Checking accounts for those aged between 18 and 24
  • Easy to waive monthly fees
  • Many account options


  • The bank does not list APY rates on its website
  • Small ATM network


5. Planters Bank planters bank logo

Best For: Community bank feel

Planters Bank operates 20 branches in Mississippi. Bank customers truly get that community bank feeling that wouldn’t be possible with big banks while still offering modern online banking features.


Planters Bank offers four checking accounts, only one of which earns interest. Each checking account includes a Visa debit card and free online banking. They each also include unlimited check-writing.

Planters Bank also offers savings accounts, loans, home equity lines of credit, credit cards, business banking, and merchant services.


  • Local community bank
  • Checking account that earns interest
  • Large selection of accounts


  • Most accounts have monthly fees
  • Minimum account balance requirements are high


6. BankPlus bankplus logo

Best For: Personal financial tools

BankPlus is a national bank with its headquarters located in Belzoni, Mississippi. It offers financial services in Mississippi, Louisiana, Alabama, and Florida. BankPlus fully took over First Bank and Trust Company in August 2022.


BankPlus offers seven different checking accounts. The ValuePlus checking account requires a minimum opening deposit of $100 and charges a $6 monthly fee. This account doesn’t impose a minimum account balance restriction.

BankPlus offers two different traditional savings accounts. The BankPlus Personal Savings account requires a minimum opening deposit of $100. Should you maintain an account balance of $100 or more, the $5 service fee does not apply. This account earns interest at 0.05% APY. It’s worth noting that this rate changes periodically.

BankPlus also offers Christmas Club Accounts, CDs, money market accounts, credit cards, loans, business banking, and wealth management services.


  • Online account opening
  • Extensive wealth management and investing features
  • Access to BaZing benefits, which are deals at over 300,000 online and local vendors


  • APY rates are below the national average
  • Can’t open business accounts online


7. BankFirst bankfirst logo

Best For: Online banking

BankFirst is headquartered in Columbus, Mississippi, and has 26 branches in Mississippi. They have an updated mobile and online banking system, and they proudly put the customer first, providing excellent customer service daily.


BankFirst offers three cash back checking accounts and three interest checking accounts. The Interest Checking + Perks account requires a minimum opening deposit of $100. A monthly fee of $6 applies; however, the account earns interest at a rate of up to 1.25% APY. This account includes features such as direct deposit, unlimited check-writing, and discounts on selected retailers.

BankFirst also offers six traditional savings accounts. The FIRSTSavings account requires a minimum opening deposit of $25. The bank will waive the $4 monthly service fee if you maintain a minimum balance of $300. This account has a tiered interest structure; however, rates are unavailable online.

BankFirst also offers money market accounts, CDs, CDARs, business banking services, and home equity loans.


  • Financial education content available
  • Rewards checking accounts,
  • Refunds on ATM fees


  • Some interest rates are not available online
  • Requires $2,500 to open a money market account


8. Cleveland State Bank cleveland state bank logo

Best For: Personalized assistance

Cleveland State Bank operates five branches within the state of Mississippi. This small Mississippi bank offers a more personal approach to financial services when compared to national banks.


Cleveland State Bank offers two checking accounts that do not earn interest and one that does. The Elite Checking Account is interest-bearing and requires a minimum opening deposit of $1000. This bank account earns interest at a variable rate that the bank determines. Cleveland State Bank charges a monthly service fee of $9; however, they will gladly waive it should you maintain a balance of $1000 or more.

Cleveland State Bank offers three different savings accounts. The Regular Savings Account requires a minimum opening deposit of $100. The bank charges a fee of $5 for this account if you do not maintain a minimum balance of $100 during a statement cycle. Unfortunately, APY rates are not available online.

Cleveland State Bank also offers credit cards, mortgages, auto and personal loans, and safe deposit boxes.


  • Local community bank with a personal approach
  • Insurance benefits provided as part of the BaZing Benefits package
  • Large number of accounts


  • Only five branches
  • Interest rates hard to find


9. Bank of Anguilla bank of anguilla logo

Best For: Christmas Club Savings

Bank of Anguilla is a local community bank serving parts of Mississippi. As with other small state banks, deposits you make here are FDIC-insured up to $250,000.


Bank of Anguilla offers three different checking accounts, all with access to online banking services and debit cards. The Bank of Anguilla Regular Checking Account requires a minimum opening deposit of $200. The account has no monthly maintenance fees as long as you consistently maintain a minimum account balance of $500.

Bank of Anguilla offers one traditional savings account, Statement Savings. You can only open accounts by visiting one of the bank’s branches. Moreover, details of interest rates and fees are not readily available online.

Bank of Anguilla also offers money market accounts, Christmas Club accounts, CDs, and IRAs. Bank of Anguilla is also a personal, business, and agricultural lender.


  • Offers business and agricultural banking services
  • Personal approach to banking
  • Wide selection of products


  • Only four branches
  • APY rates are unavailable online


10. Renasant Bank renasant bank logo

Best For: Nationwide deals

Renasant Bank is an FDIC-insured regional bank. It has more than 195 branches in Mississippi, Florida, Tennessee, Georgia, and Alabama. Renasant Bank offers banking services plus access to 450,000 nationwide deals when you are a customer.


Renasant Bank offers three checking accounts. The Simple Checking account requires a minimum opening deposit of $50. The bank will not apply a monthly fee if you have direct deposits set up, are subscribed to e-statements, or maintain a balance of $1000 or more.

Renasant Bank offers two traditional savings accounts. The Regular Savings account requires a minimum of $250 as an opening deposit. The account comes with a maintenance fee of $15 per quarter. The bank will waive the fee when maintaining a balance of $250 or more. Interest rates are not available online.

Renasant Bank also offers HSAs, CDs, money market accounts, renovation and repair loans, mortgages, and business banking.


  • Access to over 195 branches across five states
  • Account fees can be waived
  • Access to nationwide deals


  • Interest rates are not available online
  • Some services are only accessible in branches


11. Trustmark trustmark bank logo

Best For: Wealth management

Trustmark is an FDIC-insured bank operating over 180 branches in Mississippi, Tennessee, Alabama, Florida, and Texas. They offer a robust online banking program and are invested in helping clients with wealth management.


Trustmark offers six checking accounts. The Simple Checking Account requires a minimum opening deposit of $50 and offers a free debit card plus unlimited check writing. No monthly fees are due on this account as long as you complete 15 or more transactions, receive a direct deposit of at least $100, or maintain an account balance of $1500 or more.

The bank also offers four traditional savings accounts. The Personal Savings account requires a minimum opening deposit of $50, and the monthly fee of $5 is waived when your account balance is $200 or more. Interest is compounded daily and credited quarterly. APY rates are not available online.

Trustmark also offers business banking and commercial banking, credit cards, home loans, and wealth management services.


  • Allows mobile deposits through the mobile banking app
  • Monthly fees can be waived
  • Robust wealth management services


  • APY rates are not available online
  • Savings accounts only allow two free transactions per month


How to Choose the Best Bank in Mississippi

At BankBonus.com, we’re committed to providing consumers with the resources they need to select a bank or credit union.

Here’s an overview of the steps we recommend our readers take to choose a bank:>

  • Understand different types of banks: You have access to traditional banks, online banks, credit unions, and neobanks. It’s important to understand the differences between them and determine which type of institution aligns best with your preferences.
  • Choose the right account: Checking, savings, money market, and certificate of deposit accounts are the most common types of bank accounts. Understand what each offers and choose a bank with the type of account(s) you need.
  • Look for low-fee banks: Account fees can add up quickly. As you compare bank accounts, look for an account that doesn’t charge unavoidable monthly maintenance fees, overdraft fees, and ATM fees.
  • Consider branch and ATM access: If having access to branches matters to you, choose a bank with physical locations. Regardless, you should prioritize banks that have a vast ATM network or reimburse ATM fees.
  • Compare account features: Determine which features you’re looking for. A few common bank account features to consider are interest, cashback, mobile features, cash deposits, and minimum account balance requirements.
  • Check out reviews and ratings: It’s crucial to pick a reputable bank. To get an idea of a bank’s customer experience, you can read expert reviews and look to sources like TrustPilot, the Better Business Bureau, and J.D. Power.
  • Read the fine print: Don’t sign up for an account without understanding the terms and conditions. Make sure the account is FDIC or NCUA insured and get a sense of its requirements, fees, and expiration dates for bank bonuses.
  • Look at the bank’s additional products: If you want to manage all of your finances under one roof, look into each bank’s additional products. A lot of banks also offer credit cards, wealth management, investment accounts, and loans.

Our Methodology

The BankBonus team has analyzed dozens of banks to provide our readers with thoroughly informed and accurate reviews. We evaluated digital financial platforms, online banks, regional banks, and national banks with a presence in Mississippi.

Our assessment of each bank factors in these considerations:

  • Product lineup: We review the types of accounts, loans, and services offered by each bank, as well as the number of accounts.
  • Fees and pricing: We also consider each institution’s fees, including monthly maintenance fees and other service charges.
  • Account features: To compare banks, we take a close look at the features, limits, and capabilities each one has to offer.
  • Interest: Along with these features, we consider whether or not the bank offers interest-bearing accounts and compare their rates to industry averages.
  • Brand reputation: The bank accounts we recommend have been carefully vetted to ensure they are legitimate, secure, and backed by FDIC insurance.
  • User experience: Additionally, we consider the ease of use and availability of resources on each bank’s website and factor in reviews of the mobile app from the Apple App Store and Google Play Store.
  • Branch and ATM access: To gauge convenience, we also look at each bank’s branch and ATM availability and consider their ATM reimbursement policies.
  • Customer service: In our review process, we also explore their customer service channels, hours of availability, and third-party reviews.

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