Free to Use Business Checking Accounts in Indiana (August 2024 Update)
Use Meow to Apply for a Business Checking Account in Indiana
Meow is a financial technology company, not a bank.
Meow helps businesses in Indiana apply for a high-interest business checking account from FirstBank, a Tennessee corporation; Member FDIC.
Other Alternatives in Indiana
This table shows an overview of some financial health metrics for the top 5 community banks in Indiana 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 | |
|---|---|---|---|---|---|---|---|
Centier Bank | 1895 | 58 | $7.14b | 3.11% | 0.63% | 67.8% | |
1St Source Bank | 1922 | 81 | $7.06b | 3.34% | 0.47% | 70.2% | |
Lake City Bank | 1872 | 55 | $5.62b | 3.74% | 0.82% | 79.1% | |
German American Bank | 1910 | 76 | $5.30b | 2.34% | 0.36% | 80.1% | |
First Farmers Bank & Trust Co. | 1932 | 37 | $2.73b | 2.89% | 0.99% | 51.7% |
*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.
Apply Now
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.