Retail banks continued to notch high satisfaction scores, though the limited availability of in-branch services since the coronavirus pandemic began could introduce challenges to retail bank satisfaction, according to J.D. Power’s annual retail banking satisfaction study released today.
The study found that 52% of customers are “branch dependent,” using it exclusively (10%) or in conjunction with other channels but visiting in the previous three months (42%). Branch-dependent customers gave their banks an average satisfaction score of 824 (on a 1,000-point scale), 23 points more than the satisfaction of the three in 10 bank customers who banked via digital channels only.
The study—which evaluated more than 180 nationwide, regional and midsize banks—identified the highest-scoring institutions in 11 U.S. regions. These included Chase Bank in the California and Florida regions; S&T Bank, headquartered in Indiana, Pennsylvania, in the Mid-Atlantic; FNBO, Omaha, Nebraska, in the Midwest; Bangor Savings Bank, Bangor, Maine, in New England; City National Bank of West Virginia, Charleston, in the North Central region; Columbia Bank, Tacoma, Washington, in the Northwest; Arvest Bank, Bentonville, Arkansas, in the South Central and Southwest regions; United Community Bank, Blairsville, Georgia, in the Southeast; and Frost Bank, San Antonio, in Texas.