Forbes has released its fifth annual list of the “World’s Best Banks,” with numerous banks headquartered and/or doing business in Texas making the cut. Of the 75 banks based in the U.S., at least 16 of them operate in the Lone Star State. San Antonio-based USAA Federal Savings Bank topped the list of U.S.-based banks. As with all Forbes lists, companies do not pay any fee to participate.
Here are the 2023 “World’s Best Banks” that operated in Texas (the numbers indicate the bank’s ranking on Forbes’ list of U.S. banks:
- 1: USAA, San Antonio
- 7: BancFirst, Oklahoma City, Oklahoma
- 15: Centennial Bank, Conway, Arkansas
- 17: Prosperity Bancshares, Houston
- 21: Bank of Oklahoma, Tulsa, Oklahoma
- 34: Bank OZK, Little Rock, Arkansas
- 43: Trustmark, Jackson, Mississippi
- 44: IBC Bank, Laredo
- 45: Chase, New York, New York
- 59: Regions Financial, Birmingham, Alabama
- 63: City Bank, Lubbock
- 65: MidFirst Bank, Oklahoma City, Oklahoma
- 69: BancorpSouth, Tupelo, Mississippi
- 70: Simmons Bank, Pine Bluff, Arkansas
- 73: Woodforest National Bank, The Woodlands
“World’s Best Banks 2023,” created in partnership with the market research firm Statista, used an online survey of more than 48,000 people in 32 countries to rate their banks on general satisfaction, trust, digital services, customer service and more. A total of 415 banks—4 percent of those that exist worldwide, based on estimates by IBISWorld—reached minimum scores to be included. To make the list, a bank had to be rated by at least 250 customers.
USAA Federal Savings Bank focuses its efforts on only a segment of the banking market: current and ex-military members and their families. With total assets of $110 billion and 9.3 million customers/members, USAA shined primarily through its excellent customer service. It has no brick-and-mortar branches; it focuses on online banking and lets customers use 100,000 different ATMs that belong to other banks at no charge. It also allows early availability for deposited paychecks and has no insufficient funds fee, both of which can be particularly valuable for military members operating on a limited budget or frequently on the move.
“USAA’s mission is to facilitate the financial security of the military community,” says Roger Wildermuth, director of public relations and corporate communications. “We do that by knowing our members better than anyone else.”
“This recognition is extremely meaningful during these uncertain times in the banking industry,” says John Allison, chairman, president and CEO of Home BancShares, the parent company of Conway, Arkansas-based Centennial Bank. “This reinforces the strength of our company, the focus our bankers have on our customers and the confidence our customers have in us. Being number 15 of the 75 banks in the country to make the list is certainly something for which we are very proud.”
Click here to learn more and see the entire list of the “World’s Best Banks 2023.”
