Written by
Gabrielle Olya
Edited by
Amen Oyiboke
Regional banks can provide a more personal experience than a national bank and more options than a more localized community bank. If you’re considering a regional bank, defined by GOBankingRates as a bank with locations in under 25 states, you might opt for one of these Best Northeast Regional Banks.
These banks have locations in Connecticut, Delaware, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and/or Vermont.
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Compare the Best Regional Banks in the Northeast
Bank
Best For
Products Offered
Fees
Savings APY
Branch Access
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First National Bank of Pennsylvania
Best for Checking Accounts
Checking, savings, CDs, money market, etc.
Monthly service charges are low/easy to avoid
Up to
349 branches across OH, PA, MD, NC, SC, VA, WV and Washington, D.C.
Fulton Bank, N.A.
Best for Range of Products
Checking, savings, CDs, money market, etc.
$0-$30 monthly, can be waived
200+ branches across DE, MD, NJ, PA and VA
TD Bank, N.A.
Best for In-Person Banking
Checking, savings, CDs, money market, loans, etc.
$0-$25 monthly, can be waived
Up to , depending on account and balance
1,100+ branches across CT, DE, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VT, VA and Washington, D.C.
Valley National Bank
Best for Product Diversity
Checking, savings, CDs, money markets, etc.
$0-$15, can be waived
233 branches across NJ, NY, FL and AL
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GOBankingRates Best Regional Banks in the Northeast
Best for Checking Accounts
First National Bank of Pennsylvania
Products Offered
Checking, savings, CDs, money market, etc.
Savings Account APY
Up to
Branch Access
349 branches across OH, PA, MD, NC, SC, VA, WV and Washington, D.C.
WHY WE LIKE FIRST NATIONAL BANK OF PENNSYLVANIA
First National Bank of Pennsylvania is a good fit for customers who live in the Northeast and are seeking low-minimum accounts. While many of the accounts have monthly maintenance fees, they are pretty easy to avoid.
You’ll find a range of bank account options at First National Bank of Pennsylvania, including five types of checking accounts. It also offers a savings account, CDs with multiple term lengths and a money market account. While you may be able to find higher APYs elsewhere, this can be a good option for those looking to do all of their banking affordably and in one place.
Best for range of products
Fulton Bank, N.A.
Products Offered
Checking, savings, CDs, money market, etc.
Savings Account APY
Branch Access
200+ branches across DE, MD, NJ, PA and VA
WHY WE LIKE FULTON BANK
For customers in Delaware, Maryland, New Jersey, Pennsylvania and Virginia who want an excellent in-person banking experience, Fulton Bank has physical branches offering essential checking, savings and money market accounts. Of course, there’s also the option for online and mobile banking.
This regional bank’s main strength comes from its variety of checking accounts, from its low-fee checking for young people to its interest-bearing checking to its premier account for high-net-worth individuals. It also offers relationship checking for people with higher balances, waiving fees. Even its single savings account will waive the monthly fee with a $100 minimum balance.
Best for In-Person Banking
TD Bank, N.A.
Products Offered
Checking, savings, CDs, money market, loans, etc.
Savings Account APY
Up to , depending on account and balance
Branch Access
1,100+ branches across CT, DE, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VT, VA and Washington, D.C.
WHY WE LIKE TD BANK
When it comes to being accessible to customers in the Northeast, TD Bank has the market covered, with more than 1,100 branches and 2,600 ATMs. Beyond just traditional banking, it also offers investment services and supports small businesses.
People want convenience in banking, and TD Bank delivers that, as well as several essential financial products — some of which come with sign-up bonuses and rewards. It also offers extended branch hours for even more ease of banking.
Best for Product Diversity
Valley National Bank
Products Offered
Checking, savings, CDs, money markets, etc.
Savings Account APY
Branch Access
233 branches across NJ, NY, FL and AL
WHY WE LIKE VALLEY NATIONAL BANK
Regional banks are renowned for friendly, personalized service that you may not find with larger national banks. Valley National Bank exemplifies this philosophy. But don’t let the “regional” tagline fool you — while Valley National Bank serves New York and New Jersey, the bank’s reach also extends down to Florida and Alabama. Consumers outside of the bank’s service areas can take advantage of online banking to access Valley National Bank’s full suite of products.
Valley National Bank boasts a whopping seven choices in checking accounts, including an interest-bearing account, rewards checking and accounts for teens and older adults. We also love Valley National Bank for the generous sign-up bonus on its All Access Rewards Checking. The account delivers a $20 reward every month for a year when you set up at least $750 in qualifying direct deposits each month. New customers also enjoy no monthly maintenance fees or ATM fees for a year.
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Research Methodology
To discover the Best Regional Banks, GOBankingRates looked at the top regional institutions (excluding online banks, and neobanks) located in under 25 states. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percent the minimum to avoid fee compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services, and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) weighed 0.5 times, factor (5) weighed 2.5 times; and factor (7) weighed 1.5 times. All data is up to date as of Nov. 8, 2023, rates and fees are subject to change.
For regional breakdowns, the same methodology as above is used. The following is how we broke down the regions West (AK, CA, CO, HI, ID, MT, NV, OR, UT, WA, WY); Southwest (AZ, NM, OK, TX); Midwest (IA, IL, IN, KS, MI, MN, MO, ND, NE, OH, SD, WI); Southeast (AL, AR, DC, FL, GA, LA, KY, MS, NC, SC, TN, VA, WV); and Northeast (CT, DE, MA, MD, ME, NH, NJ, NY, PA, RI, VT). To be considered for a region a bank had to have a branch in one of the states listed as well as be headquartered in that state/region.
What To Know About Regional Banks
A regional bank is a bank with locations in one or more specific geographic regions within the U.S. Regional banks are financial institutions that offer traditional banking services.
What distinguishes a regional bank from a national bank is the higher interest rates they offer. They also have more locations than a community bank.
Who Should Use a Regional Bank
Regional banks are ideal for anyone who values a choice of ATM and branch locations, standout rates and fees, and a connection to the local community.
Pros and Cons of Regional Banks
Regional banks have a number of advantages and disadvantages to be aware of.
Pros
- Numerous account options
- Wide network of ATM and branch locations
- Connection to the local community
- Low fees
Cons
- Less convenient for travelers
- Fewer product offerings than larger national banks
How Regional Banks Compare to Other Banks
There’s no shortage of bank options. Here’s a look at how regional banks stack up to other types of banks.
Regional Banks vs. National Banks
Regional banks will have fewer locations throughout the United States than national banks. National banks also are typically backed with more assets. Regional banks operate on a smaller scale and are invested in the local community.
Regional Banks vs. Retail Banks
Retail banking is the portion of a bank’s services that involve retail customers. Retail banking is also known as consumer banking or personal banking. Retail banking is, in essence, the parts of banking the public sees, so the difference between regional banks and retail banks will depend on the specific location.
Regional Banks vs. Investment Banks
Investment banks provide financial services for corporate clients. These services include mergers, acquisitions and raising capital. Regional banks typically cater to everyday banking needs, whereas investment banks provide larger-scale banking services for institutional investors and enterprises.
Regional Banks vs. Credit Unions
A credit union provides many of the same functions as a commercial or regional bank. However, credit unions are nonprofit corporations that are owned by their members, which distinguishes them from banks. Credit unions are typically smaller than regional banks.
How To Choose a Regional Bank
Choosing the right regional bank for you will depend on your individual needs, but there are several features you should consider when searching for the best regional bank:
- Locations: Is there a branch and/or ATM near you?
- Mobile app: Does the bank have a mobile app? Is it easy to use?
- Interest rates: How do the interest rates compare to the rates at other financial institutions?
- FDIC insurance: Is the bank FDIC insured?
Heather Taylor contributed to the reporting for this article.
Recap of Winners
- First National Bank of Pennsylvania – Best for Checking Accounts
- Fulton Bank, N.A. – Best for Range of Products
- TD Bank, N.A. – Best for In-Person Banking
- Valley National Bank – Best for Product Diversity
See Best Banks Winners From All Categories
See More Banks by Region
