The Best And Worst Banks In Tennessee

When it comes to choosing the right bank, Tennesseans have plenty of options. From local banks to big-name institutions, there are a variety of factors to consider before selecting a financial partner. But which banks offer the best services? And which should you avoid? In this article, we’ll explore the best and worst banks in Tennessee so you can make an informed decision.

As one of the most populous states in the South and home to several major cities, Tennessee offers a wide range of banking options for its citizens. From online banking solutions to full-service in-person branches, Tennesseans have no shortage of opportunities when it comes to choosing their financial provider. However, not all banks are created equal. Some offer great customer service, competitive interest rates and convenient locations; others may fall short in these areas.

The goal of this article is to provide an overview of some of Tennessee’s top-rated financial institutions as well as those that should be avoided at all costs. We’ll look at fees, customer service ratings, digital banking features and more so you can make an educated decision about where your money will be best served. So let’s get started!

Overview Of Tennessee Banking Industry

Tennessee’s banking industry is highly competitive and has a history of quality service. The state is home to a wide variety of banks, from large national banks to smaller local banks. Some of the largest financial institutions in Tennessee include First Horizon Bank, SunTrust Bank, Regions Bank and Capital One. Each bank offers different products and services that cater to different needs.

All Tennessee banks are regulated by the Tennessee Department of Financial Institutions (TDFI). This department ensures that all banks in the state comply with federal banking regulations. They also ensure that customers receive fair treatment and are protected from fraud and abuse. Banks must adhere to certain standards of customer service and have adequate capital reserves in order to remain open.

The banking industry in Tennessee is highly competitive and provides excellent customer service. Customers can find a variety of products and services at their local bank, ranging from checking accounts to mortgages and investment options. With so many choices, it can be difficult to determine which bank is best for an individual’s needs. The following section will examine some of the best and worst banks in Tennessee based on customer satisfaction ratings.

Ratings And Rankings

Moving on from the overview of Tennessee’s banking industry, it’s time to take a closer look at ratings and rankings. The best banks in Tennessee are determined by several factors, such as customer satisfaction surveys, financial stability, and overall service quality. The most highly rated banks in the state include First Tennessee Bank, SunTrust Bank, and Regions Bank.

First Tennessee Bank has earned an A+ rating from the Better Business Bureau (BBB), making it one of the highest-rated banks in the state. Additionally, they have a five-star rating from for providing excellent customer service and a variety of banking products and services that meet consumer needs. SunTrust Bank is another top performer with an A+ rating from BBB as well as over 4 stars out of 5 on for their consumer-friendly practices and convenient mobile app features. Lastly, Regions Bank also receives an A+ rating from BBB for its financial strength and stability.

These three banks stand out among other financial institutions in the state due to their high ratings and positive customer feedback. They offer customers great products, services, convenience, and security when it comes to managing finances – all while earning top marks in the industry.

Customer Service Satisfaction

The quality of customer service satisfaction is an important factor in determining which banks are the best and worst in Tennessee. In general, customers want to feel respected, valued, and appreciated when they interact with their bank. Poor customer service can leave customers feeling frustrated and dissatisfied, resulting in a bad experience with a particular bank.

When it comes to customer service satisfaction, there are several factors that can contribute to a great or poor experience. These include wait times for help, how knowledgeable staff members are about banking products, the attentiveness of staff members to customers’ needs, and how quickly any issues are resolved. Customers should also be able to contact their bank easily if they have questions or issues with their accounts.

Overall, the quality of customer service satisfaction is essential for determining which banks are the best and worst in Tennessee. Those banks that provide excellent customer service will make customers feel respected, valued and appreciated while those that provide poor customer service will leave those customers feeling frustrated and dissatisfied. As such, it is important for potential customers to thoroughly research each bank before opening an account in order to ensure they receive top-notch customer service throughout their banking relationship.

Financial Stability And Security

Now that customer service satisfaction has been discussed, it’s time to look at the financial stability and security of Tennessee banks. This is important because customers want to know that their money is safe with the bank they choose. To determine the best and worst banks in Tennessee, we must first examine their financial performance.

To start, we looked at a few key measures of financial strength. We looked at the amount of capital held by each bank relative to its assets, which indicates how well-capitalized it is. We also looked at the quality of its loan portfolios and whether it was following sound risk management practices. Additionally, we considered whether or not the banks were compliant with government regulations regarding safety and soundness.

After analyzing these metrics, we were able to identify which Tennessee banks had strong financial performances and which ones did not. The results showed that some of the best banks in terms of financial stability and security are First Tennessee Bank, SunTrust Bank, Regions Bank, and Pinnacle Financial Partners. On the other hand, some of the worst performing banks according to these criteria include Citizens Tri-County Bank and First South Financial Credit Union.

As you can see, there are significant differences between different banking institutions in terms of their financial stability and security. It’s important for customers to take this into consideration when choosing a bank in Tennessee.

Online Banking Tools And Services

When it comes to online banking tools and services, Tennessee banks offer a wide variety of options. Most banks provide the ability to review account balances, view transaction histories and transfer funds between accounts. Additionally, many offer the ability to make deposits and payments with the use of an app or website. These services allow customers to manage their finances remotely without having to take a trip to a physical branch.

For customers who want more convenience, some banks in Tennessee offer mobile check deposit capabilities. This allows users to take pictures of their checks with their phone camera and deposit them directly into their savings or checking account. Additionally, cardless ATM access is available at most banks in Tennessee, allowing customers to easily withdraw cash from ATMs without needing a physical debit card.

Overall, Tennessee Banks have several convenient features that make managing your finances easier than ever before. With the wide range of online banking tools and services available, users can quickly and securely access their accounts from anywhere in the world.

Fees And Charges

The fees and charges associated with Tennessee banks vary widely. Some banks have no hidden fees or account maintenance charges, while others can charge up to $100 in monthly fees. It’s important to read the fine print and understand what you’re signing up for before opening an account.

Many of the best banks in Tennessee offer free checking accounts with no minimum balance requirement and no monthly service fee. The majority of these institutions also provide free online banking services, free debit card usage, and free ATM withdrawals. Additionally, some banks may even waive certain fees when customers meet certain requirements such as maintaining a specific balance or making a set number of transactions each month.

On the other hand, some of the worst banks in Tennessee can hit customers with high overdraft fees and costly minimum balance charges. Many of these institutions also impose steep penalties for closing an account prematurely or not meeting a certain number of transactions per month. Before signing on with any bank, it’s important to research all available options and make sure you are getting the most competitive rates and terms possible.

Loan Interest Rates

Moving on from fees and charges associated with Tennessee banks, the next topic to consider is loan interest rates. Loan interest rates can vary significantly between different financial institutions. Generally speaking, the best banks in Tennessee offer competitive loan interest rates that will have a lower annual percentage rate (APR). For example, some of the top-rated banks in the state may offer loans with an APR as low as 2-3%. On the other hand, some of the worst banks in Tennessee may offer loans with APRs of 10-15%, which can be much more expensive.

When looking at loan interest rates, it’s also important to consider any additional fees associated with taking out a loan. Some banks may charge origination fees or other service fees that can add to the overall cost of borrowing money. Additionally, some lenders may offer promotional rates for certain types of loans but only for a limited period of time. It’s always wise to read through the fine print carefully before committing to any loan agreement.

It’s essential to compare and contrast loan products between different banks before making a final decision. Doing thorough research before signing on the dotted line can save borrowers thousands of dollars over the long run.

Credit Card Offerings

Tennessee has a wide variety of banks offering credit cards. Many of the top national banks offer credit cards in Tennessee, including Bank of America, Chase, and Wells Fargo. For those looking for a local option, several Tennessee-based banks provide attractive credit card options as well. Regions Bank has a variety of rewards and cashback cards that can help Tennesseans accumulate points or save money on purchases. SunTrust offers several low-interest rate cards with no annual fee.

When it comes to credit card offerings, some Tennessee banks don’t fare so well. US Bank offers limited promotional bonuses and rewards compared to other institutions. Additionally, their APR rates tend to be higher than other local competitors in the state.

Overall, Tennesseans have access to a variety of quality credit card options from both national and local banks. Whether you are looking for a low APR or generous rewards program, you’ll be able to find an option that meets your needs.

Branch Locations And Accessibility

Tennessee is home to a wide variety of banks that offer a range of services for consumers. Some offer superior service and convenience, while others may leave customers feeling frustrated and unserved. A key factor in deciding which bank is the best or worst for an individual’s needs is the availability of branch locations and accessibility.

The best banks in Tennessee often have multiple branches located throughout the state with convenient access to ATMs. These banks are typically larger regional or national banks with ample resources to ensure efficient customer service at each location. They also often offer online banking services, making it easier than ever to conduct financial transactions no matter where you are located.

On the other hand, some smaller local banks may have limited branch locations and limited access to ATMs which can be inconvenient for customers who don’t live close by or travel frequently. In addition, they may not have as many resources available as larger banks, meaning fewer products and services offered and slower response times when resolving customer issues.

When choosing a bank in Tennessee, consider how well it meets your needs when it comes to branch locations and accessibility. Make sure that you can get what you need from any location so that you don’t miss out on important services or face unnecessary delays when conducting banking transactions.

Impact Of Mergers And Acquisitions

The accessibility of branches across Tennessee is an important factor in determining which banks are the best and worst to use. However, another equally important factor is the impact of mergers and acquisitions on these banks. Mergers and acquisitions can bring more resources to a bank, but they can also cause disruption and instability.

The ability of a bank to successfully navigate the complexities of mergers and acquisitions can make or break its reputation in Tennessee. For example, Firstbank was acquired by First Horizon Bank in 2019, resulting in improved customer service, technology, banking products and services. This has allowed them to become one of the top-rated banks in Tennessee. On the other hand, when Regions Bank merged with Union Planters Bank in 2004, it caused problems for customers in terms of service quality and access to banking products. This has led many customers to rate them among the worst banks in the state.

It is clear that mergers and acquisitions have had both positive and negative effects on Tennessee’s banking landscape. Banks that are able to successfully integrate their operations have been able to improve their customer service while expanding their reach into new markets. However, those that fail to manage such changes appropriately risk losing customers due to poor service or lack of access to necessary resources.


In conclusion, Tennessee is home to some of the best and worst banks in the country. While there are a number of great banks in the state, offering competitive rates and excellent customer service, there are also some not-so-great ones. It’s important to do your research before choosing a bank so that you can find one that meets your needs.

When evaluating Tennessee banks, consider their customer service satisfaction ratings, financial stability, online banking tools and services, loan interest rates, credit card offerings, branch locations and accessibility. In addition, stay informed about any mergers or acquisitions that may occur as these could have an impact on your banking experience.

With all these factors in mind, you can make an educated decision when selecting the best bank for you in Tennessee. Taking the time to shop around will ensure that you get the most out of your banking experience while avoiding any potential pitfalls along the way.

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