Free to Use Business Checking Accounts in Cass County, Illinois (August 2024 Update)
Use Meow to Apply for a Business Checking Account in Cass County, Illinois
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Meow helps businesses in Cass County, Illinois apply for a high-interest business checking account from FirstBank, a Tennessee corporation; Member FDIC.
Other Alternatives in Cass County, Illinois
This table shows an overview of some financial health metrics for the top 5 community banks in Cass County, Illinois ranked by total deposits. This data is sourced from the Federal Deposit Insurance Corporation's (FDIC) BankFind Suite. The table shows data as of 3/31/24.
| Bank Name | Year Founded | Branches | Total Deposits | Net Interest Margin | Return on Assets | Loan to Deposit Ratio | |
|---|---|---|---|---|---|---|---|
Petefish, Skiles & Co. | 1870 | 4 | $282m | 4.54% | 3.10% | 78.9% | |
West Central Bank | 1933 | 6 | $192m | 3.81% | 1.41% | 61.7% | |
The First National Bank Of Beardstown | 1887 | 3 | $154m | 4.15% | 0.64% | 50.9% | |
The First National Bank Of Arenzville | 1882 | 3 | $129m | 4.85% | 1.78% | 41.7% | |
Beardstown Savings S.B. | 1911 | 2 | $54m | 0.16% | -0.36% | 75.4% |
*Source: Federal Deposit Insurance Corporation's (FDIC) BankFind Suite for reporting period ending 3/31/24
Understanding Financial Health Indicators
Total Deposits: Deposits are the primary source of liquidity for a bank. They are used to fund loans and other investments, which generate income for the bank. A higher amount of deposits indicates a greater capacity to lend and invest, which can lead to higher profitability.
Net Interest Margin: A key profitability indicator for banks. It measures the difference between the interest income generated by the bank (from loans and other interest-earning assets) and the amount of interest paid out to their lenders (such as depositors), relative to the amount of their interest-earning assets.
Return on Assets: Measures the efficiency of a bank in using its assets to generate profit. It is calculated by dividing the net income of the bank by its total assets. A higher return on assets indicates that the bank is more efficiently managing its assets to produce income.
Loan to Deposit Ratio: Calculated by dividing the total loans and net leases of the bank by its total deposits. A higher ratio indicates that the bank is lending out more of its deposits, which can lead to higher profitability. However, a higher ratio also indicates that the bank has less liquidity to meet its obligations to depositors.
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Click the button below to apply for a business checking account from FirstBank, a Tennessee corporation; Member FDIC.
For more information, take a look at our article on the key benefits of business checking accounts.