Best and Worst States for Banking 2014: Full 50-state list

by MoneyRates Team
Money Rates Columnist
May 19, 2014

Didn't see your state on the lists of Best States for Banking or Worst States for Banking? Here are all 50 U.S. states as ranked by their banking conditions.

These rankings were based upon an analysis of the following factors in each state's banking industry:

  1. Breadth of choice. These scores were based on the number of active banking institutions based in each state, according to the FDIC.
  2. Stability. This was determined by the percentage of each state's banks that failed in 2013.
  3. Quality of service. This ranking was based on the average "Power Circle Ratings" of banks available in each state, according to the 2014 J.D. Power U.S. Retail Banking Satisfaction Study.
  4. Competitive rates. Every quarter, MoneyRates.com conducts the America's Best Rates survey to find the best savings account rates and money market rates in the country, and states were ranked according to the availability of top 10 banks from this survey.

Here are the full state rankings, starting with the best -- Missouri.

1. Missouri
2. Kansas
3. Nebraska
3. Massachusetts
5. California
5. Oklahoma
5. Pennsylvania
8. Iowa
9. New York
9. Arkansas
9. Maryland
12. Mississippi
13. West Virginia
14. Ohio
15. Virginia
16. Alabama
17. Louisiana
18. New Jersey
19. South Carolina
20. Maine
21. Colorado
22. Indiana
23. Vermont
24. Georgia
25. Texas
25. Oregon
27. Tennessee
28. Montana
29. Michigan
30. Illinois
31. North Dakota
32. Hawaii
33. Kentucky
33. Utah
33. New Hampshire
36. Delaware
37. South Dakota
38. North Carolina
38. Wyoming
40. New Mexico
41. Wisconsin
41. Florida
41. Idaho
44. Minnesota
44. Rhode Island
46. Alaska
47. Washington
48. Connecticut
49. Arizona
50. Nevada

Your responses to ‘Best and Worst States for Banking 2014: Full 50-state list’

Showing 1 comment | Add your comment
Bea

25 May 2014 at 12:07 pm

I think Kentucky is one of the worst states for saving if my city is any indication. The banks have the most appalling savings interest rates and if one wants to get anything above 1% one must go to one of the online banks or find an out of town credit union. Something has to got to give when one can't get over .50% for a 5 year CD in this city!

Add your comment
(required)
(will not be published, required)