A 2020 Forbes survey recognized two banks based in New Jersey as among the state’s finest.
Of the other banks appearing at the top of Forbes’ New Jersey listings, three are headquartered in other states but have locations in New Jersey. Just Fairfield-based Kearny Bank, which ranked at No. 3, and Lakeland Bank, which came in at No. 5, held the distinction of being the latter.
The Forbes Best-in-State Bank poll measures customer experience, with primary emphasis on recommendations and overall satisfaction. The research included five subdivisions: trust, terms and conditions, branch services, digital services and financial advice.
Frobes’ Top banks in the New Jersey:
- Republic Bank, Philadelphia, Pa.
- Fulton Bank, Lancaster, Pa.
- Kearny Bank, Fairfield
- Capital One, McLean, Va.
- Lakeland Bank, Newfoundland
“This is a wonderful result for Kearny Bank, and the best thing is that our placement was determined by favorable client input,” said Kearny Bank President and Chief Executive Officer Craig Montanaro in a prepared statement. “We’re deeply committed to client service – in fact, I believe it’s what sets us apart in a very competitive business environment. So, this result seems to indicate we’re doing multiple things well.”
In Forbes’ 2020 survey, participants were asked to list all banks at which they’d ever had a checking or savings account. From there, they were requested to rate all banks they’d listed, based on various evaluation criteria.
Of the 5,117 different banks in the U.S., only 2.6 percent ultimately qualified for inclusion on the individual state lists.
Based exclusively on a recent poll of about 25,000 private, U.S. citizens, Forbes determined Best-in-State rankings for banks in every state. The survey was conducted by Forbes in partnership with the research firm Statista.