Best Banks in Florida

Here are the best Florida banks and their account options.

Whether you’re looking for a high savings account interest rate, an affordable mortgage, comprehensive banking services, a bank loan with low loan rates, or a checking account with the best interest rates from a bank in Florida, you’ll find it here in the GOBankingRates list of best Florida banks. GOBankingRates selected the top 10 banks in Florida based on bank asset size, number of branches, checking account fee, savings account interest rate and available products. The list of the best banks in Florida represents standouts in these categories to help you choose a bank that’s the right fit for you.

Top 10 Banks in Florida

Although this ranking is based on the latest information available at the time the research was conducted, always check directly with the bank for the most up-to-date information before opening an account. The 10 best banks in Florida are:

  • Florida Community Bank
  • Mercantil Bank
  • CenterState Bank
  • BankUnited
  • Ocean Bank
  • Stonegate Bank
  • Citizens First Bank
  • Seacoast Bank
  • USAmeriBank

Florida Community Bank

Florida Community Bank provides some of the most comprehensive services in Florida, offering auto loans, home mortgages, credit cards, savings accounts and investment management services. The bank also offers four checking account options, which include a budget account and an interest-earning account. Other services include:

  • Telephone banking
  • Wire transfers
  • Notary services
  • ATM check cards
  • Visa debit cards with chip technology

Mercantil Bank

Mercantil Bank offers a range of financial products and services to its customers, including auto loans, mortgages, certificates of deposit, and debit cards, as well as a range of commercial products and services, such as an owner-occupied commercial real estate loan. Additionally, the bank offers these mobile and online banking services:

  • Bill pay
  • E-bills
  • Funds transfer
  • Mobile check deposit
  • Text and email alerts
  • Paperless statements and notifications

 Find Out: How to Choose a High-Yield Savings Account

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CenterState Bank

CenterState Bank is the only bank in the top Florida banks list to provide services across all five service categories surveyed by GOBankingRates: auto loans, home mortgages, insurance products, investment service and credit cards. Interest rates are generally fairly low, but the bank does offer some specials, including a 13-month Special CD paying 1.25% APY and a 24-month Bump-Up CD offering a 1.52% APY, which both require an open checking account. The bank also caters to seniors, with customers 65 and older entitled to the following free benefits:

  • Online or paper statements
  • Cashier’s checks
  • Gift cards
  • Notary services
  • One free order of checks per year


TIAA Direct, a division of TIAA FSB, offers the highest savings account rates of any bank on this GOBankingRates top 10 list, paying a 0.71% APY with no monthly maintenance fee, no minimum balance and just $100 to open the account. The bank also reimburses up to $15 per month for any outside ATM surcharges. Other products and services TIAA Direct offers include:

  • Home mortgages
  • Insurance products
  • Investment services
  • Money market accounts
  • CDs

Read: Your Complete CD Guide


BankUnited scores points for having the most branches of the top 10 banks in Florida — 100 — along with nearly $29 billion in assets. Product offerings are more specialized than other banks, with BankUnited offering mortgage loans and credit cards but no auto loans, insurance products or investment services.

The bank’s Value Savings account pays a 0.25% APY with a $50 minimum opening deposit. The account’s $5 monthly service fee can be waived with a daily balance of $300. In addition, the bank offers checking accounts with free services, including:

  • Visa debit card
  • Online banking and bill pay
  • Free mobile and text banking
  • Free eStatements

Ocean Bank

Ocean Bank doesn’t offer credit cards, investment services or insurance products, but it is one of the few banks that does offer a completely free checking account  —  the Ocean Plus Smart Checking account — with no transactions or balances required. This account also comes with free online banking, bill pay, mobile banking, eStatements, a MasterCard debit card and 24-hour telephone banking.

The Ocean Plus Savings account comes with the same features and benefits but requires a $250 minimum balance to avoid the $5 monthly service fee. Other products offered include:

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  • Auto loans
  • Mortgages
  • CDs
  • Money market accounts

Stonegate Bank

Stonegate Bank offers an array of services, from mortgages, credit cards and investment products to IRAs and business banking services. The bank offers one of the highest savings account rates on this list, paying 0.25% APY but also has the highest checking account fee in the top 10 at $15 per month. To avoid the fee, a daily average balance of $1,500 is required. Additional services include:

  • Online and mobile banking
  • Notary service
  • Direct deposit
  • Banking by mail

Citizens First Bank

Citizens First Bank has a no-fee checking account that has no monthly maintenance charge or minimum daily balance and a $25 opening deposit requirement. Its savings rates have room for improvement compared with other banks on this list, however, as the tiered savings account pays just 0.01% APY on balances up to $10,000, and deposits of $100,000 or more earn 0.06% APR. Additionally, the bank has extensive product and service offerings including:

  • Investment services
  • Credit cards
  • Mortgage loans
  • Personal loans
  • CDs
  • Instant debit cards

See: How to Open a Savings Account 

Seacoast Bank

Seacoast Bank has been in business for over 90 years. Its Banking Freestyle checking account charges $7 per month, but that fee can be removed if you choose online statements and perform seven or more debit card transactions per month or have a $250 monthly direct deposit.

Account services include online and mobile banking, mobile check deposit, a Visa debit card, fee-free Publix ATM access, four non-Seacoast ATM charges refunded per month and a loan discount of up to 0.25 percent. Additional products and services include:

  • Home mortgages
  • Auto loans
  • Investment management services
  • Free online financial wellness tool


Mortgages and credit cards are available through USAmeriBank, but the bank does not offer auto loans, insurance products or investment services. The bank’s Student Checking account carries no fees or minimums for qualifying students up to age 26. USAmeriBank’s Choice Checking requires a $100 minimum deposit and charges a monthly fee of $8, which can be waived with a $1,500 daily balance, a direct deposit of at least $500 monthly or 10 debit card purchases per month. The account includes:

  • Internet and mobile banking
  • Bill pay
  • Debit MasterCard
  • First order of checks free

Up Next: What Is the Best Bank or Credit Union?

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Methodology: To determine the best banks in the state, GOBankingRates ranked the top 10 banks based on (1) asset-size, with $100 million minimum in assets held, according to the FDIC; (2) monthly checking account service fee; (3) savings account annual percentage rate, which was either a flat rate or the lowest tiered rate available from the bank for non-specialty savings account products; (4) bank accessibility, based on the approximate number of branches; and (5) products, with banks being scored on selection of products offered, including auto loans, mortgage loans, credit cards, investment services, and insurance. 

Data for this ranking was compiled from and verified against the individual institutions’ websites between Sept. 21 and Sept. 26, 2017. Rates, terms and conditions are subject to change at the discretion of the individual financial institutions. APY was based on the minimum deposit required to open the account. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met in order to obtain the interest rates listed. Rates and availability might vary by region. Please verify terms and conditions before opening an account.

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions, and other financial services organizations. Some banks mentioned in this ranking are clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement.

Related: The Best Banks of 2018

About the Author

After earning a B.A. in English with a Specialization in Business from UCLA, John Csiszar worked in the financial services industry as a registered representative for 18 years. Along the way, Csiszar earned both Certified Financial Planner and Registered Investment Adviser designations, in addition to being licensed as a life agent, while working for both a major Wall Street wirehouse and for his own investment advisory firm. During his time as an advisor, Csiszar managed over $100 million in client assets while providing individualized investment plans for hundreds of clients.