According to the new J.D. Power annual Retail Banking Satisfaction Study released last week, San Antonio-headquartered Frost Bank is the highest-scoring bank across all metrics for customer satisfaction in the Texas region — and also holds the top score among the 14 other geographic regions of the country surveyed.
Prosperity Bank, another Texas-headquartered bank, ranked fifth in the Texas region.
Jennifer White, the senior consultant of banking intelligence at J.D. Power, told the San Antonio Business Journal that scores were based on 101,587 surveys by retail banking customers nationwide, collected from April 2021 until January 2022. Banks were scored on customer satisfaction based on seven "core attributes" on a scale of 1,000.
The seven metrics were: satisfaction with the people with whom customers interact, either at a branch or at a call center; level of trust and security; initiatives that save time or money; digital channel options available; flexibility for customers as to how and when they bank; effectiveness at solving problems; and different kinds of account options offered.
Frost Bank was the top-scoring bank in the Texas region, with a score of 755 out of 1,000 possible points. White noted that Frost was unique in that it not only scored highest overall among Texas banks, but also scored highest in each of the individual seven attributes as well.
"(Frost Bank) measured highest in all influencers of satisfaction," White said.
Another finding of the study was that overall customer satisfaction with retail banks rises more than 150 points when customers believe their bank is helpful to them during challenging economic times.
Frost Bank was founded in 1868 in San Antonio and is a Texas-chartered bank with more than 150 branches and 4,700 employees statewide.
