Which are the 10 Best Banks in Arizona 2023?

Arizona, with a population of 7.5 million people, ranks as the 14th most populous state in the US and is experiencing rapid growth, coming in third after Nevada and Idaho for the highest percentage of growth in 2021. Keep on reading if you want to know which are the 10 best banks in Arizona.

Logo of arizona bank and Which are the 10 Best Banks in Arizona 2023?

As a result, there is a significant demand for banking services in the state. Given the plethora of banking options available, it can be challenging to make a choice.

This article aims to simplify the process by highlighting the best banks for Arizona residents. Whether you prefer local banks, national chains, or online banking, this post will provide you with valuable insights to make an informed decision.

First Citizens Bank

First Citizens Bank has recently completed the acquisition of CIT Bank, which has helped it become the 19th largest national bank with over $100 billion in total assets.

Although the bank has several physical branches in Arizona, it caters to a nationwide audience through its online presence.

Despite its size, First Citizens Bank has retained its community bank feel and offers a comprehensive range of products and services, including checking, savings, credit cards, mortgages, loans, CDs, and insurance.

A good starting point for potential customers would be the free checking account, which comes with no monthly fees when customers enroll in paperless statements, no minimum balance, and free online and mobile banking services, including bill pay and check deposits.

Also read: Which are the top 10 banks in America?

U.S. Bank

U.S. Bank is a major banking institution in the Western United States, with over 2,000 locations across 28 states.

In Arizona alone, they have 62 branches in 24 towns and cities, offering personal banking, small business banking, and wealth management services.

While most accounts come with monthly fees, U.S. Bank rewards customers who maintain a more involved relationship.

For example, their Gold Checking account waives the monthly fee if the customer also has a U.S. Bank credit card or personal loan. Although their savings rates are low, they offer high rates for their limited-time “Special CDs.”

Additionally, U.S. Bank has a top-notch mobile app and online banking platform, making it a convenient option for those who travel throughout the Western U.S. and require a variety of financial services.

Also read: Which are the Top 10 Banks in World?

Bank of America

Bank of America is well-known for its significant presence in the East, but it also has a strong presence in Arizona with over 40 branch locations.

As one of the Big Four banks, BoA offers a wide range of banking services, account options, and customer support channels. Additionally, BoA provides home and home equity loans as well as a comprehensive investment platform.

However, the major drawback of banking with BoA, and other large banks, is their low savings rates and multiple account fees. Although some of these charges are avoidable, many of them are not.

Arizona Banks

PNC Bank

PNC, a bank previously only available in the Mid-Atlantic region, has expanded its services by acquiring BBVA USA (formerly BBVA Compass) in 2020.

As a result, all BBVA locations have now been converted into PNC branches, providing customers in Arizona with 64 PNC locations to choose from.

PNC offers a range of financial products such as deposit accounts, small business banking, credit cards, and loans. They also have a bundled account option called PNC Virtual Wallet that comes with sign-up bonuses for new customers.

While PNC’s acquisition of BBVA means more account options and support, it also means lower interest rates. Currently, PNC’s highest savings account APY is only 0.05%.

BMO Harris Bank

BMO Harris, a bank headquartered in Chicago and operating in 8 states, has a significant presence in Arizona with 45 branches.

Despite being smaller compared to other major banks, BMO Harris offers a diverse range of account options, including checking accounts, credit cards, savings accounts, money market accounts, and CDs with competitive rates of up to 3.50%.

Customers can also access personal, auto, and home loans, as well as lines of credit. The bank’s mobile app and online tools are highly rated, providing convenient ways to manage finances digitally.

Chase Bank

JPMorgan Chase is a large US-based bank with thousands of branches across the country, including over 200 in Arizona.

They offer a full range of banking products and services for both personal and business accounts, including loans and wealth management.

New customers can also benefit from sign-up bonuses for certain accounts. Chase is known for having one of the best mobile banking apps in the industry, allowing customers to manage their accounts on the go.

Their credit card offerings are also noteworthy, with a variety of cards that offer generous enrollment bonuses and rewards.

However, it’s important to note that Chase does charge account fees that can be difficult to navigate. Prospective customers should thoroughly understand these fees before opening an account.

MidFirst Bank

MidFirst Bank, headquartered in Oklahoma City, is a privately-owned financial institution that is FDIC-insured. It has a significant presence in Arizona, with 20 branches and 60 ATMs in the Phoenix Valley.

The bank offers a mix of traditional and online banking services, providing customers with the best of both worlds.

One of the bank’s most significant advantages is its ability to provide personalized service akin to community banks while still offering a broad range of account options.

What sets MidFirst apart from other brick-and-mortar banks in Arizona is its competitive annual percentage yields (APYs). For instance, their Freedom Money Market account offers up to 0.20% APY, while their eChecking account is even more impressive, earning up to 0.60% APY on deposits.

Wells Fargo

Wells Fargo boasts the largest physical bank presence in the US with over 4,700 locations.

Arizona alone has 170 branches, making it an ideal choice for those seeking personalized customer support and easy access to branches across the state.

Wells Fargo offers a range of account options tailored to suit various income brackets and age groups, making it a versatile banking partner for everyone.

Additionally, it provides a robust suite of business bank accounts, catering to businesses of all sizes from small startups to larger organizations.

As with any major bank, there may be fees and comparatively lower savings rates, but Wells Fargo’s convenience is hard to beat.

National Bank of Arizona

The National Bank of Arizona is a member-FDIC bank that operates over 55 branches across the state, with its headquarters located in Phoenix.

It is a subsidiary of Zions Bancorporation and provides customers with a diverse range of financial products, including five types of checking accounts, two savings accounts, and three Money Market options.

Customers can also take advantage of CDs, credit cards, and online/mobile banking services. While the bank charges monthly fees for its checking accounts, customers can avoid these fees by meeting certain requirements.

Overall, if you’re searching for a comprehensive community bank with ample account options and convenient branch locations, the National Bank of Arizona is a solid choice.

Alliance Bank of Arizona

Alliance Bank of Arizona, a member of FDIC and based in Phoenix, has several branches in major cities throughout the state such as Gilbert, Tucson, Mesa, Chandler, Flagstaff, and Scottsdale.

While it does offer personal deposit accounts, its primary focus is on commercial banking, providing various business accounts like checking, savings, money market, and CD accounts to cater to entrepreneurs and businesses of different sizes.

However, its online and mobile banking services leave something to be desired, as its mobile app receives poor ratings in both the App Store and the Google Play Store, making it less appealing to those who prioritize a smooth mobile banking experience.

So which are the 10 Best Banks in Arizona?

In conclusion, Arizona has many great banks to choose from, but these 10 stand out from the crowd. Whether you’re looking for personal or commercial banking, these institutions offer a range of services to meet your needs.

From top-rated customer service to innovative online and mobile banking options, each of these banks has something unique to offer. So, take a closer look at each one to find the best fit for you and your financial goals.


How many banks are in Arizona?

In Arizona, only 14 institutions have their headquarters within the state, which means that eight counties in Arizona don’t have any community banks based there.

Does Arizona have US bank?

Yes, The US Bank Center stands tall as a towering office building situated in Phoenix, Arizona. This impressive structure is the second tallest of its kind in the state, reaching a height of 407 feet (124 m). It was constructed back in 1976 and has been a prominent fixture in the city ever since.

What are the oldest banks in Arizona?

Bank of Arizona is the oldest bank in Arizona.

Who owns Arizona bank?

Arizona Bank & Trust, a division of HTLF Bank’s parent company, Heartland Financial USA, Inc.

Which is the No 1 bank of USA?

JPMorgan Chase is the best bank of USA.

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