Top Louisiana Banks to Watch in 2025: Your Ultimate Guide!
Research Methodology
In our quest to unveil the Best Banks in each state, we dove deep into a comprehensive analysis of notable institutions—steering clear of online banks and neobanks. To crown the top contenders, we examined several key factors: (1) total assets sourced from the FDIC; (2) minimum deposit requirements for checking accounts; (3) the ratio of monthly checking fees to the minimum needed to waive those fees; (4) minimum deposit thresholds for savings accounts; (5) savings account annual percentage yields (APY); (6) Bauer ratings (out of 5 stars); (7) the range of products and services offered, including auto loans, mortgages, credit cards, investment options, and insurance; and (8) the average mobile app ratings from both Google Play and Apple stores. Each factor was meticulously scored, with a lower score signifying a better ranking. We weighed factors (1), (2), and (4) at 0.5 times, gave factor (5) a weight of 2.5 times, and factor (7) a weight of 1.5 times. Only institutions with offerings available as of November 8, 2024, were considered. Please note that rates can fluctuate; unless specified, updates on rates occur periodically, and all account information is current as of December 20, 2024.
To earn the title of one of the Best Banks in a state, a financial institution needed to have at least five branch locations within that state, with exceptions made for particularly large or small areas.
How to Find the Best Banks in Louisiana
If you prefer a personal touch when banking, regional banks might be your golden ticket. These institutions strike a balance between the warmth of local service and a diverse range of products, steering clear of the cold, corporate feel of sprawling multinational banks. While regional bank APYs can be attractive, they may not always match the extensive network of branches and ATMs found at national banks. The best banks in Louisiana offer an impressive variety—just be mindful of account and service fees, which can sneak up on you.
Evaluating Regional Banks
When weighing your options for regional banks, keep these essential factors in mind:
- Location: Make sure the bank you’re considering has branches conveniently located near you.
- Availability: Take a look at their operating hours, especially on holidays. Some regional banks might not be as accessible as their national counterparts.
- Bank Health: While some regional banks thrive on being local and intimate, others might struggle to grow due to insufficient assets or profits. Review their financial health to ensure they’ll be a reliable partner for years to come.
- Rewards and Promotions: Regional banks often excel in offering enticing rewards and promotions. Compare the latest deals from your prospective bank with offers from others to get the best bang for your buck.
- Account Offerings: Not all regional banks have a robust lineup of products. Confirm that the bank you’re eyeing provides everything you’ll need for your financial journey.
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