While regional banks in the Midwest may have fewer branches and less name recognition than their large national counterparts, bigger doesn’t mean better or even more options for the average consumer.
Regional banks can often be more flexible in account management, provide better terms for loans or CD rates, and curate tailored products to meet the specific needs of the local communities they serve.
Here, let’s take a look at the best regional banks the Midwest has to offer. By Midwestern regional banks, we are referring to banks that have headquarters and/or a substantial presence in the states of Iowa, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, North Dakota, Nebraska, Ohio, South Dakota, and/or Wisconsin.
6 Best Banks in the Midwest
Here’s our pick for the six banks in the Midwest in 2024.
- Fifth Third Bank
- Wintrust Bank
- Huntington National Bank
- FNBO (First National Bank of Omaha)
- Bremer Bank
- Associated Bank
1. Fifth Third Bank 
State Availability: Illinois, Indiana, Michigan, Ohio, Florida, Georgia, Kentucky, North Carolina, South Carolina, Tennessee, and West Virginia
Midwesterners who want a one-stop financial shop should consider Fifth Third Bank. Beyond checking and savings accounts, you can manage all of your banking and financial planning needs within one institute at Fifth Third. This includes specialized checking accounts, college funds, IRA retirement accounts, investment accounts, auto loans, mortgages, credit cards, insurance products, and estate planning.
Pros:
- Wide variety of products
- Great mobile app
- Specialized checking accounts
Cons:
- Low rates
- Limited rate data
Learn More:
2. Wintrust Bank 
State Availability: Illinois, Indiana, and Wisconsin
Wintrust Bank is one of the best overall banks in the Midwest region. It combines an attractive variety of accounts with low fees, high interest rates, and competitive certificates of deposit (CD) rates. Additionally, all out-of-network ATM service fees are reimbursed.
Beyond all the standard products and services, Wintrust offers many options that larger banks are slowly (if not swiftly) phasing out like coin counting, gift cards, currency exchange, and safety deposit boxes.
The bank is known for its swift and thorough customer service and has won top marks for customer satisfaction by J.D. Power. With Wintrust’s phone lines, for example, you’re connected directly to a human representative so you don’t have the hassle of going through a phone tree and pressing buttons to get routed to the right department. Additionally, customers can ask questions and communicate with representatives directly through Facebook and X (formerly Twitter).
Pros:
- Excellent customer service
- Several checking account options
- Ongoing promotions
Cons:
- High minimum deposit for some accounts
- No branches or ATMs outside of the tri-state area
Learn More:
3. Huntington National Bank 
State Availability: Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia, and Wisconsin
Huntington Bank offers a great regional banking service for those in the Midwest or other coverage areas in the South and Northeast.
The bank offers a broad range of products to meet consumers wherever they are on their financial journey, from basic checking to premium, interest-bearing checking accounts. Huntington has many flexible services that offer relief for consumers with balances that spike and dip, including overdraft fee relief, interest-free lines of credit, and all-day deposits.
Pros:
- Return fee grace period of 24 hours
- $100-$500 lines of interest-free and fee-free credit
- Tiered accounts from no-frills to high-yield savings accounts
Cons:
- CD rates may be higher at other online-only banks
- NSF fees of $15 per item up to three per day
Learn More:
4. First National Bank of Omaha (FNBO) 
State Availability: Colorado, Illinois, Indiana, Kansas, Nebraska, South Dakota, Texas, and Wyoming
Founded in 1857, the First National Bank of Omaha (FNBO) has over 50 branch locations in Nebraska and additional retail locations in several other states. FNBO is a good option for low-fee banking, as it offers no-fee deposit accounts (Free Checking, Basic Money Market, and Basic Savings), and no fees for overdraft protection or transfer set-ups. Although it has fees for outgoing wires, the charges are lower than most other banks.
Beyond its everyday banking products and services, FNBO offers credit cards, home loans, wealth management, retirement planning, small business, and commercial banking.
Pros:
- Highly-rated mobile app
- No fees or minimums for overdrafts
- High-yield Flex Savings
Cons:
- Low-interest rates on standard savings accounts
- Mixed customer reviews
Learn More:
5. Bremer Bank 
State Availability: Minnesota, North Dakota, Wisconsin
Bremer Bank has won top kudos from our editorial team for being a top bank in Minnesota for both service and reputation. Bremer has received high rankings in the J.D. Power U.S. Retail Banking Satisfaction Study. It’s known for excellent customer satisfaction and transparency regarding fees, rates, and account requirements.
It pays higher-than-average interest rates for its Regular Savings accounts and offers a variety of other products including checking accounts, CDs, home loans, money market accounts, small business banking, and agricultural banking. Many of Bremer’s banking services are free (fees waived) for meeting specific criteria, such as setting up bill pay, direct deposit, and/or eStatements.
Pros:
- Low overdraft and wire transfer fees
- Community bank with individualized attention
- Agricultural and business banking and lending options
Cons:
- Low APYs on CDs
- Mobile banking could be better
Learn More:
6. Associated Bank 
State Availability: Illinois, Minnesota, Wisconsin
Associated Bank is a great option for customers in its three-state service area who want to streamline their banking and finances within one banking institution.
It offers many high-interest money market, CD, and savings accounts, and a flexible range of checking account options too. There are monthly service charges for deposit accounts, but these service fees are waived for meeting basic requirements like setting up direct deposit or maintaining a minimum account balance. The bank also offers services for small business and commercial banking needs.
Associated Bank provides customers with many convenient, and sometimes unique, perks like debit card and credit card rewards for local sports teams, overdraft protection, and access to a large network of fee-free ATMs.
Pros:
- High-yield deposit accounts
- Surcharge-free access to 30,000+ ATMs
- Fan debit cards and credit cards for sports team perks
Cons:
- Relatively low reviews for the Android app
- Higher fees than online-only banks
Learn More:
Compare the Best Banks in the Midwest
| Bank | Monthly Fees | Accounts | Offers Bonuses | State Availability |
| Fifth Third Bank | $0-$25/month* |
|
✓ |
|
| Wintrust Bank | $0-$10/month* |
|
✓ |
|
| Huntington | $0-$25/month* |
|
✓ |
|
| FNBO | $0-$15/month* |
|
✓ |
|
| Bremer Bank | $3-$10/month* |
|
✕ |
|
| Associated Bank | $0-$25/month* |
|
✓ |
|
*fees can be waived
How to Choose a Bank in Your Region
When choosing the best regional bank, here are some of the features that you should consider:
- Locations: Regional banks by definition operate in select regional areas, so make sure that there is a branch and/or ATM near you — or that you are comfortable doing all of your banking online.
- Mobile app: An easy-to-navigate app is a must if you’re considering a regional bank. With fewer branch locations, the ability to conduct business from your phone is all the more important. Make sure the bank does have an app, and then check the ratings and reviews.
- ATM network: If you regularly withdraw cash, make sure that your bank has in-network ATMs in areas where you live.
- Zelle: If you use digital means to send cash to friends and family, look for a bank that offers integration with Zelle or other similar services. Increasingly, Zelle is becoming the most popular virtual wallet option for banks and credit unions.
- Interest rates: APY rates can vary greatly from bank to bank, or even from product to product within the same financial institution. Make sure to compare all relevant product rates from one bank to the next.
- FDIC insurance: Ensure that the bank you’re considering is FDIC-insured so that your deposits, up to $100K per account, are safe.
Our Methodology
The BankBonus team has analyzed hundreds of banks and financial institutions to provide our readers with a thoroughly informed and accurate review.
We evaluated digital financial platforms, online banks, credit unions, regional banks, and national banks with a strong presence throughout the Northeastern region.
Our assessment of the best regional banks took into account these key 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 bank’s fees, including monthly maintenance fees, NSF or overdraft fees, and other service charges.
- Account features: To compare financial institutions, we take a close look at the banking features, limits, and capabilities each one has to offer.
- Interest: Along with these features, we examined whether or not the banks offered any interest-bearing accounts. We compared any rates of interest to industry averages.
- Brand reputation: The bank accounts we recommend have been scrupulously vetted to ensure they are legitimate, secure, and backed by FDIC We also considered J.D. Power and Better Business Bureau (BBB) scores.
- User experience: Additionally, we evaluate the ease of navigation and the availability of resources on each bank’s website, and factor in the reviews of the bank’s mobile app on both the Apple App Store and Google Play Store.
- Branch and ATM access: To assess convenience, we also examine each bank’s branch and ATM availability and consider ATM fees and any ATM reimbursement policies.
- Customer service: In our review process, we also explore available customer service channels, hours of availability, and third-party review forums like TrustPilot and Deposit Accounts.
No comments yet. Add your own