Free to Use Business Checking Accounts in Iroquois County, Illinois (August 2024 Update)
Use Meow to Apply for a Business Checking Account in Iroquois County, Illinois
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Meow helps businesses in Iroquois County, Illinois apply for a high-interest business checking account from FirstBank, a Tennessee corporation; Member FDIC.
Other Alternatives in Iroquois County, Illinois
This table shows an overview of some financial health metrics for the top 5 community banks in Iroquois 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 | |
|---|---|---|---|---|---|---|---|
Iroquois Federal Savings And Loan Association | 1883 | 8 | $690m | 0.41% | -0.26% | 76.5% | |
The First Trust And Savings Bank Of Watseka, Illinois | 1909 | 2 | $260m | 2.87% | 0.98% | 59.5% | |
Iroquois Farmers State Bank | 1919 | 6 | $145m | 6.64% | 2.49% | 47.6% | |
Federated Bank | 1918 | 4 | $100m | 4.57% | 0.84% | 51.7% | |
Citizens State Bank Of Milford | 1907 | 1 | $53m | 4.46% | 0.72% | 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.
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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.