
Best bank account bonuses for July 2022
Walk away with stacks of cash just for opening a checking or savings account.
You need to understand what a regional bank is. Here’s what to know.
A regional bank is a bank with a primary market in a regional or metropolitan area but takes deposits from throughout the state in which it is located. It is typically more expansive than a community bank, but more restrictive than a national financial institution.
Regional banks fall between local community banks and larger “big banks” in terms of their size and capabilities.
Since a regional bank is larger than the community bank in the center of town, it typically offers more services and has better ranking as a lender.
However, the regional bank also has the advantage of more cultural acceptance as a competent financial center that’s still able to adequately represent its patrons without becoming impersonal like a big bank might seem.
Though regional banks do fall somewhere in the middle of the spectrum of bank size, and loan and service offerings, there is some disagreement about what exactly a regional bank is. Because of this disagreement, it cannot be said that regional banks always offer a specific set of services.
However, it can be helpful to designate the regional bank by some key indicators:
Banks that meet the above qualifications are generally considered by the Federal Deposit Insurance Corp. as regional banks.
If you live in the Northeast and do your banking with an institution that services your state and the surrounding states, you probably are working with a regional bank.
Some of the largest regional banks in the U.S. include Capital One, PNC, US Bancorp, BB&T and SunTrust Bank. Though these banks offer some national services, particularly through their credit products, they still fall into the designation of regional banks, due to their holdings and the regional limits of their primary markets.
Want to learn more about the differences between a community bank and national bank? Check out this comparison of community banks and big banks.
Walk away with stacks of cash just for opening a checking or savings account.
Knowing bank holiday schedules can help you avoid delays on necessary transactions.
Not all mobile banking apps are as secure as they could be. Here’s how to stay safe.
Setting up direct deposit is typically easy and can save you a lot of time. Here’s how.
Can you guess which bank has the most branches in your state?
These expert tips can help keep your bank and financial accounts safe from hackers.
This budgeting rule of thumb can help make tracking everyday spending easier.
Completing a money order requires just a few simple steps. Here’s how.
The smartphone in your hand can help you better manage your money.