Banks That Give You Free Money in Every State

Few things in this world get people more excited than free stuff. There are always the ones that freely help themselves to samples at the grocery store no matter how many dirty looks they get from the lady running the station. But, there might be something of a disconnect in how American consumers look at “free.” Because for all of the people that grab everything that’s not nailed down in their hotel room before they check out, or make the bartender refill the pretzel bowl 64 times in three hours, there just doesn’t seem to be as many people who are interested in shopping around for the best savings account rates. After all, that’s free money. Free money that you earn month after month with literally zero effort.

To help consumers everywhere continue in the grand American spirit of taking full advantage of everything they’ve got coming to them, GOBankingRates compiled a list of banks across America with at least $500 million in assets that have high annual percentage yields. With the exception of Idaho, Nevada and Oregon — banks in these states didn’t have public-facing APY data — this is a comprehensive look at the banks that offer the highest APYs for a basic savings account in every part of the country. If your bank is offering you less than another in-state option, know that you’re leaving free money on the table.

1. Hawaii

Bank name: Bank of Hawaii
Location: Honolulu
Total assets: $17,643,000,000
Savings account: Regular Savings
APY: 0.03%

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2. Montana

Bank name: Rocky Mountain Bank
Location: Billings
Total assets: $528,000,000
Savings account: Regular Savings
APY: 0.03%

3. New Hampshire

Bank name: Northway Bank
Location: Berlin
Total assets: $896,000,000
Savings account: Statement Savings
APY: 0.05%

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4. North Carolina

Bank name: North Street Bank
Location: Albemarle
Total assets: $659,000,000
Savings account: Statement Savings
APY: 0.05%

5. Rhode Island

Bank name: The Washington Trust Co. of Westerly
Location: Westerly
Total assets: $5,199,000,000
Savings account: Freedom Statement Savings
APY: 0.05%

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6. Alabama

Bank name: Southern States Bank
Location: Anniston
Total assets: $1,128,000,000
Savings account: Common Sense Savings
APY: 0.10%

7. Arizona

Bank name: Arizona Bank and Trust
Location: Phoenix
Total assets: $695,000,000
Savings account: Regular Savings
APY: 0.10%

8. Florida

Bank name: Citizens First Bank
Location: The Villages
Total assets: $2,345,000,000
Savings account: Savings
APY: 0.10%

9. Iowa

Bank name: Bankers Trust
Location: Des Moines
Total assets: $4,919,000,000
Savings account: Regular Savings
APY: 0.10%

10. Kentucky

Bank name: Central Bank
Location: Lexington
Total assets: $2,701,000,000
Savings account: Regular Savings
APY: 0.10%

11. Louisiana

Bank name: Origin Bank
Location: Choudrant
Total assets: $5,366,000,000
Savings account: Simple Savings
APY: 0.10%

12. Maryland

Bank name: Howard Bank
Location: Baltimore
Total assets: $2,293,000,000
Savings account: Personal Savings
APY: 0.10%

13. Michigan

Bank name: Macatawa Bank
Location: Holland
Total assets: $2,143,000,000
Savings account: Regular Savings
APY: 0.10%

14. Minnesota

Bank name: Bridgewater Bank
Location: Saint Louis Park
Total assets: $2,227,000,000
Savings account: Savings
APY: 0.10%

15. Mississippi

Bank name: BankFirst
Location: Macon
Total assets: $1,273,000,000
Savings account: FIRSTSavings Account
APY: 0.10%

16. New Mexico

Bank name: New Mexico Bank and Trust
Location: Albuquerque
Total assets: $1,607,000,000
Savings account: Regular Savings
APY: 0.10%

17. North Dakota

Bank name: Bell Bank
Location: Fargo
Total assets: $6,266,000,000
Savings account: Regular Savings
APY: 0.10%

18. Utah

Bank name: Bank of Utah
Location: Ogden
Total assets: $1,440,000,000
Savings account: Regular Savings
APY: 0.10%

19. Vermont

Bank name: Union Bank
Location: Morrisville
Total assets: $844,000,000
Savings account: Personal Statement Savings
APY: 0.10%

20. Virginia

Bank name: Carter Bank & Trust
Location: Martinsville
Total assets: $4,020,000,000
Savings account: Carter Savings
APY: 0.10%

21. Wisconsin

Bank name: Town Bank
Location: Hartland
Total assets: $2,393,000,000
Savings account: Statement Savings
APY: 0.10%

22. Alaska

Bank name: Northrim Bank
Location: Anchorage
Total assets: $1,604,000,000
Savings account: Classic Savings
APY: 0.11%

23. California

Bank name: First Republic Bank
Location: San Francisco
Total assets: $111,029,000,000
Savings account: Passbook Savings
APY: 0.15%

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24. Delaware

Bank name: Bank of Delmarva
Location: Seaford
Total assets: $792,000,000
Savings account: Statement Savings
APY: 0.15%

25. Illinois

Bank name: CIBC Bank USA
Location: Chicago
Total assets: $31,743,000,000
Savings account: CIBC Agility Online Savings Account
APY: 1.85%

26. Kansas

Bank name: Security Bank of Kansas City
Location: Kansas City
Total assets: $3,226,000,000
Savings account: Personal Savings Account
APY: 0.15%

27. Massachusetts

Bank name: Northern Bank and Trust Company
Location: Woburn
Total assets: $2,148,000,000
Savings account: Northern True Savings
APY: 0.15%

28. New Jersey

Bank name: ConnectOne Bank
Location: Englewood Cliffs
Total assets: $6,161,000,000
Savings account: Statement Savings
APY: 0.15%

29. Ohio

Bank name: Union Bank
Location: Columbus Grove
Total assets: $876,000,000
Savings account: Statement Savings
APY: 0.15%

30. Pennsylvania

Bank name: Customers Bank
Location: Phoenixville
Total assets: $11,724,000,000
Savings account: Reserve Savings
APY: 0.15%

31. Tennessee

Bank name: FirstBank
Location: Nashville
Total assets: $6,085,000,000
Savings account: Basic Savings
APY: 0.15%

32. Texas

Bank name: Independent Bank
Location: McKinney
Total assets: $14,954,000,000
Savings account: Regular Savings
APY: 0.15%

33. West Virginia

Bank name: Clear Mountain Bank
Location: Bruceton Mills
Total assets: $653,000,000
Savings account: Personal Savings
APY: 0.17%

34. Georgia

Bank name: UnitedBank
Location: Zebulon
Total assets: $1,459,000,000
Savings account: Regular Savings Account
APY: 0.20%

35. South Carolina

Bank name: South Street Bank
Location: Columbia
Total assets: $15,749,000,000
Savings account: Smart Savings
APY: 0.20%

36. Washington

Bank name: HomeStreet Bank
Location: Seattle
Total assets: $6,795,000,000
Savings account: Statement Savings
APY: 0.20%

37. Nebraska

Bank name: Pinnacle Bank
Location: Lincoln
Total assets: $5,194,000,000
Savings account: PinnSavings Account
APY: 0.23%

38. Maine

Bank name: Northeast Bank
Location: Lewiston
Total assets: $1,123,000,000
Savings account: Prime Savings
APY: 0.25%

39. Missouri

Bank name: Midwest BankCentre
Location: St. Louis
Total assets: $2,007,000,000
Savings account: Statement Savings
APY: 0.25%

40. Oklahoma

Bank name: Gateway Bank
Location: Jenks
Total assets: $1,477,000,000
Savings account: Statement Savings
APY: 0.25%

41. South Dakota

Bank name: BankWest
Location: Pierre
Total assets: $1,100,000,000
Savings account: Statement Savings
APY: 0.25%

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42. Connecticut

Bank name: Bankwell Bank
Location: New Canaan
Total assets: $1,856,000,000
Savings account: Smart Savings
APY: 0.30%

43. Arkansas

Bank name: Arvest Bank
Location: Fayetteville
Total assets: $19,332,000,000
Savings account: Savings
APY: 0.35%

44. Colorado

Bank name: Bank of Colorado
Location: Fort Collins
Total assets: $4,428,000,000
Savings account: Savings Account
APY: 0.40%

45. Wyoming

Bank name: Pinnacle Bank
Location: Torrington
Total assets: $956,000,000
Savings account: PinnSave Personal Account
APY: 0.40%

46. Indiana

Bank name: First Internet Bank
Location: Jasper
Total assets: $4,093,000,000
Savings account: Free Savings
APY: 0.75%

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47. New York

Bank name: Amalgamated Bank
Location: New York
Total assets: $5,031,000,000
Savings account: Online Savings
APY: 1.20%

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Methodology: GOBankingRates looked at all state-chartered member banks and state-chartered nonmember banks with total assets above $500 million as sourced from the Federal Reserve’s September 2019 statistical release. GOBankingRates then looked at all qualifying banks by state and selected the largest bank in terms of total assets that had an annual percentage yield (APY) for savings accounts above the national average as sourced from the Federal Deposit Insurance Corporation’s weekly national rates report for Feb. 3, 2020. For banks with interest tiers, the rate corresponding to an account with $5,000 in savings was applied. GOBankingRates looked at each bank’s most basic savings account. No online banks were considered for this study. All data was compiled and is up to date as of Feb. 10, 2020.