MidWestOne Bank was recently recognized in Newsweek Magazine’s 2022 America’s Best Banks rankings and named Best Small Bank in Iowa.
More than 2,600 FDIC-insured institutions were assessed on 50 different factors to come up with a best-in-class option in 19 different categories, including the Best Small Bank in every state. Each bank was rated on fair returns on saving accounts, remote banking options, fees, current and historical interest rates, account terms, consumer service features, mobile app satisfaction, bank profile and more.
“Banks are focusing on digital tools that help customers improve their financial wellness,”
says Paul McAdam, senior director of banking intelligence at J.D. Power, in a news release. “A lot of this work began before the pandemic, but over the past year or so, the industry has accelerated their efforts. To keep online users happy, banks are improving apps and adding features, like budgeting tools, options to round up debit card transactions to the nearest dollar to boost balances and advice to help customers reach financial goals like improving their credit score.”
MidWestOne Bank operates banking offices in Iowa, Colorado, Minnesota, Wisconsin and Florida, and has more than 800 employees.
“We are honored to receive this prestigious recognition from Newsweek,” said Charlie Funk, MidWestOne Bank CEO, in a news release. “For more than 87 years, our mission has been to take care of our customers and those who should be. We appreciate our loyal customers and outstanding employees. Without them such awards would not be possible.”
Newsweek partnered with Lending Tree, an online loan marketplace and comparison
site for financial services, to compile the Best Banks list.