Best Banks in the Southeast for 2024

If you’ve ever considered a regional bank before, they may be worth more than just a second glance. While smaller than national banks, and with fewer bells and whistles, regional banks can offer a superior banking experience. Regional banks offer all the banking products and services the average consumer needs, but often at more competitive rates and with better or more relevant perks than their national counterparts.

In this article, we’ll review the top 5 regional banks in the Southeast based on fees, customer service, branch availability, products, rates, and promotions.

5 Best Regional Banks in the Southeast

Here are the best banks in the Southeast for 2024:

1. Arvest Bank
2. EverBank
3. Synovus Bank
4. SouthState Bank
5. First Horizon Bank

1. Arvest Bank

Best for: Residents in or near the Panhandle region who want a community-driven bank.

📍State Availability: Arkansas, Kansas, Missouri, and Oklahoma

Arkansas-based Arvest Bank is the state’s third-largest bank with over $27 billion in assets. It offers a comprehensive range of checking and savings accounts, loans, and investment products. Customers appreciate the personalized customer service at branch locations, involvement in the local community, and competitive rates — including CDs with rates over 6x the national average.

2. EverBank (formerly TIAA)

Best for: Consumers who want a community bank with higher interest products and who don’t mind online-only banking.

📍State Availability: Available in all 50 states (online only)

EverBank is a strong choice for consumers open to an online-only banking experience but would prefer an institution with Southeast regional ties. It offers competitive interest rates that give the best national banks a run for their money, including a high-yield savings account with a 5.15% APY and interest-bearing checking accounts.

The bank offers traditional banking delivered through excellent mobile and online banking. While there are no physical branch locations, EverBank has an extensive ATM network and reimburses out-of-network ATM fees for checking account holders.

*Everbank calculates the top 5% of national accounts based on data from the Bankrate Monitor National Index (BMNI). Everbank specifically looks at BMNI figures from the last week of each month.

3. Synovus Bank

Best for: High customer satisfaction

📍State Availability: Alabama, Florida, Georgia, South Carolina, Tennessee

Synovus Bank receives high marks from J.D. Power for customer satisfaction and a large footprint in the Southeast region. The bank has a range of low-fee deposit accounts and offers many special benefits for members of the armed forces.

APYs could be higher, however, members appreciate the community ties and personalized customer service. It’s worth noting that if your balance regularly hovers near $0, you may wish to actively opt out of the bank’s Overdraft Privilege to avoid steep overdraft charges.

4. SouthState Bank

Best for: Wide range of banking products including interest-bearing checking

📍State Availability: Alabama, Florida, Georgia, North Carolina, South Carolina, and Virginia

SouthState Bank is a truly Southern bank, with branches throughout the Deep South. It boasts numerous banking centers and ATM locations throughout the region, as well as mobile and online banking.

The bank has five (5) different checking account options, including interest-bearing options and a special account designed for customers who work in healthcare, education, law enforcement, or the military. Deposit accounts are low fee with easy ways to get the monthly charges waived, and many have low or no minimum opening deposit requirements.

5. First Horizon Bank

Best for: Southern residents who want a range of value account options.

📍State Availability: Alabama, Arkansas, Tennessee, Florida, Georgia, Louisiana, Mississippi, New York North Carolina, South Carolina, Texas, Virginia

First Horizon is an affordable, full-service bank. It has a range of low-fee and no-fee deposit account options, along with an interest-bearing checking account. A small minimum opening deposit is needed for most accounts, and it’s easy to get monthly maintenance fees waived for qualifying activities like setting up direct deposit or maintaining a certain balance threshold.

As a regional bank, it offers a level of personal service you can’t find at a Wells Fargo or any other large national bank. Beyond its flexible range of checking and savings accounts, First Horizon also offers money market accounts, CDs, home loans, life insurance, and a large range of other products and services.

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. Additionally, some regional banks may be online only.
• 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 in fact FDIC-insured so that your deposits, up to $100K per account, are safe.

Compare the Best Banks in the Southeast

*$3 monthly fee for Basic Blue account cannot be waived.
**$5 monthly fee for Budget Checking cannot be waived.
^Fees can be waived

Our Methodology

The BankBonus team has analyzed hundreds of banks, credit unions, and other 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 headquarters or an otherwise strong presence throughout the Southeastern region.

Our assessment of the best regional banks in the Southeast 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 opening deposit requirements, minimum balance requirements, 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 insurance. Where available, we also evaluated 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.