What Are the Most Trustworthy Banks in St. Louis?

This article is sponsored by Midland States Bank, and the information provided is for educational purposes only. Please verify current rates, fees, and terms directly with each institution.

Choosing where to keep your hard-earned money is a decision built on trust. Finding a reliable and honest bank can be challenging, as many claim to safeguard your funds best.

However, if you want a truly dependable name, you don’t have to sift through all the options yourself. Here’s a list of some of St. Louis’ most trustworthy banks that can redefine your banking experience for the better.

1. Midland States Bank

Since 1881, Midland States Bank has built a reputation for stability. Its long-standing presence alongside FDIC insurance reassures customers that their deposits are protected in the unlikely event of an economic failure. One of the most valued aspects for account holders is Midland’s transparent fee structure.

Many clients like their free checking account, which requires just a $50 opening deposit and has no minimum balance or monthly service fees. In addition, users appreciate the ability to pay bills online at no extra cost — a convenient benefit as online banking becomes an everyday necessity. For those who prefer face-to-face interactions, Midland States Bank maintains a branch on Manchester Avenue in St. Louis, plus two local ATMs, ensuring easy access to in-person services when needed.

Customer experiences are often positive, particularly regarding Midland’s mortgage and loan services. Many praise the lower-than-expected fees and reasonable closing costs. Further enhancing overall satisfaction, Midland has a user-friendly digital banking suite. Through features like mobile check cash-in, online bill pay and access to Zelle for money transfers, clients can manage their finances seamlessly. A built-in set of money management tools also helps track spending, set up budgets and visualize their financial goals, all in one convenient place.

Key Features

Over 140 years of operationCustomer-first approach Totally Free CheckingComprehensive digital suite with budget tools 2. Simmons Bank

Simmons Bank establishes its trustworthiness through foundational security and strong independent validation. As a member of the FDIC, all deposits are insured by the full faith and credit of the U.S. government. This financial soundness is further confirmed by a five-star Superior rating from the independent research firm BauerFinancial, signaling that the bank is exceptionally stable.

From a customer’s perspective, Simmons Bank is known for its transparent fee structure. While some accounts have monthly charges from $6 to $25, these are often waived for those who meet certain daily or average monthly balance requirements. Furthermore, its Simply Checking account — which has no service charge — is a popular option, especially for first-time holders. This commitment to service is reflected in both its physical and virtual presence.

The bank offers the accessibility of several brick-and-mortar locations in St. Louis, complemented by a modern digital platform. To protect its users, its online services include secure features like two-factor authentication and biometric login options. Building on this foundation of trust, Simmons Bank has a long history of growth and stability. What began as a small community bank in Arkansas in 1903 has successfully expanded to over 230 locations in six states, all while maintaining its community bank heritage.

Key Features

Over 120 years of bankingCommunity bank with regional scaleSuperior rating from BauerFinancialComprehensive digital suite with budget tools 3. Busey Bank

Established in 1868, Busey Bank has over 150 years of service across 10 states. As a publicly traded company with over $12 billion in assets, its financial health is well-documented and strong. This long history and its substantial size demonstrate an ability to navigate various economic cycles successfully, assuring customers that their bank won’t be closing anytime soon. This reliability is built on a foundation of trust and transparency.

It is a member of the FDIC, which means that depositors’ money is safe. Another show of its honesty is that it publicly declares its fees in a comprehensive document covering overdraft, wire transfer, cashier’s check and other service fees. This trustworthiness is validated externally, as BauerFinancial has ranked Busey Bank in its highest five-star Superior category. Users also rave about 24/7 banking with the Busey Wallet, which lets them cash checks, make transfers, pay bills and view statements from their phones.

For support, its customer care can be reached through a virtual phone assistant, phone or social media, as well as by visiting physical branches, such as the one in Downtown St. Louis that has served residents since 1976 and includes a 24-hour ATM that accepts deposits. All these factors are reasons why Forbes named Busey Bank as one of America’s and the World’s Best Banks in 2024.

Key Features

150+ years of historyMulti-channel customer supportRanked 88th of America’s Best BanksSpecialized agricultural services  4. U.S. Bank

U.S. Bank stands as a testament to financial resilience, with its origins dating back to the Lincoln administration in 1863. In over 160 years of operation, it has demonstrated remarkable stability through ever-changing economies. While it is one of the oldest institutions, it has impressively kept pace with modern times, having advanced mobile banking capabilities to its clients. For residents of St. Louis, U.S. Bank has a branch located on Tucker Boulevard and numerous ATMs conveniently placed throughout the city.

A robust virtual platform complements this physical accessibility. The comprehensive mobile app allows users to pay bills, send money, manage wire transfers, review their credit score for free and view paperless statements. When it comes to its offerings, U.S. Bank provides a variety of options, including a high-yield savings fund that allows customers to earn interest.

It’s worth noting that while the bank does not have free checking accounts, the monthly maintenance fees can be waived by meeting certain requirements. For those just starting, the checking accounts are quite accessible, with a low minimum opening deposit of only $25. Financially, U.S. Bank remains one of the most stable institutions in the country. It boasts an excellent stability index, with over $675 billion in assets and strong revenue growth, assuring customers that they can rely on its services for years to come.

Key Features

Over 160 years of bankingIn-app AI-smart assistantAdvanced Certificate of Deposit optionsTrusted in economic fluctuations Methodology for Ranking the Most Reliable Banks in St. Louis, MO

Financial institutions abound in St. Louis, from major national institutions and regional banks. However, the most trustworthy one has consistently withstood the test of time and stands beside its users, particularly when friction surfaces. Here’s how each was evaluated to give you a transparent ranking.

Financial healthA truly reliable bank must be on solid financial ground. As a nonnegotiable baseline, it must be a member of the FDIC, which guarantees your deposits up to $250,000.ReputationA trustworthy bank treats its clients well. This was measured by examining a combination of sources, including awards, recognitions and customer reviews.Transparent fee structureThere should be a clear, reasonable and easy-to-understand fee schedule for its accounts, accessible through the website.Local presenceA strong local presence includes having a physical location in the city, with a robust network of ATMs for enhanced accessibility.Secure digital bankingOnline banking is as important as physical branches. The bank’s app should be secure and user-friendly, with robust measures in place. Here’s Where to Bank Your Trust in the Gateway City

Finding a new bank begins with the search for trust, and it should end with the confidence to make an informed choice.

With this list and solid criteria to evaluate your options, you’ll have the clarity you need to decide which institution to partner with, whether you’re opening your first account or managing your long-term savings strategy.

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