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First Midwest, MB Financial get highest satisfaction ratings in Chicago area
[April 19, 2012]

First Midwest, MB Financial get highest satisfaction ratings in Chicago area

Apr 19, 2012 (Chicago Tribune - McClatchy-Tribune Information Services via COMTEX) -- Consumers are generally more satisfied with their banks now than they were a year ago, a newly released study has found.

Among institutions with a strong presence in the Chicago area, Itasca-based First Midwest and Chicago-based MB Financial are the top retail performers, according to the J.D. Power & Associates 2012 U.S. Retail Banking Satisfaction Study released today.

Nationally, customer satisfaction improved by one point in 2012 to an average of 753 on a 1,000-point scale compared with 2011.

In the Midwest, 23 banks were rated. Of those, 13 names are recognizable to depositors living in the Chicago area.


For the second straight year, First Midwest did best among those 13, with a score of 774. It edged out: MB Financial, at 772; Pittsburgh-based PNC Bank, 772; and Canadian-owned Harris, 771.

The average score among the 23 Midwest banks was 749.

Banks with a meaningful Chicago-area presence who were above-average, or at least average, were: Market-share leader Chase, 760; U.S. Bank, 757; Fifth Third, 751; and Associated, 749.

Below average banks in the Midwest included Wells Fargo, 730; Charter One, 729; Citibank, 728; Bank of America, 713; and TCF, 668.

States included in the Midwest region are Iowa, Illinois, Kansas, Missouri, Minnesota and Wisconsin.

The three top-ranked Midwest banks were: Commerce Bank, 801; UMB Bank, 794; and AnchorBank, 783. FirstMidwest ranked seventh among the 23.

The study also found that the satisfaction with fees fell to 609 from 625, with monthly maintenance fees being the biggest problem. Depositors are less upset about ATM and debit fees.

"Customers understand why they're being charged for ATM and debit card use, but aren't clear what they getting for monthly maintenance fees," Michael Beird, J.D. Power banking services director, said in the study.

Consumers are happier with their bank branches: Scores for branch and ATM locations, appearance, and hours of operation, improved this year to 779, up from 771 in 2011 and 765 in 2010.

Maybe it's the greeters: 76 percent of customers say they're greeted upon entering a branch, up from 68 percent the prior year.

ATMs are getting higher marks, too, with satisfaction growing to 815 from 795. The percentage of customers using ATMs to make deposits has more than doubled over the past four years, to 40 percent from 19 percent.

Both big banks and midsize banks saw greater satisfaction: big banks rose an average of 2 points, to 743, while midsize banks on average picked up 4 points to 781.

Mobile banking is gaining traction but is still in its relative infancy, with 16 percent of customers using "some" mobile banking, up from 10 percent in 2011.

byerak@tribune.com -- Twitter: @beckyyerak ___ (c)2012 the Chicago Tribune Visit the Chicago Tribune at www.chicagotribune.com Distributed by MCT Information Services

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