Free to Use Business Checking Accounts in St. Lawrence County, New York (August 2024 Update)
Use Meow to Apply for a Business Checking Account in St. Lawrence County, New York
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Meow helps businesses in St. Lawrence County, New York apply for a high-interest business checking account from FirstBank, a Tennessee corporation; Member FDIC.
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This table shows an overview of some financial health metrics for the top 3 community banks in St. Lawrence County, New York 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 | |
|---|---|---|---|---|---|---|---|
The Upstate National Bank | 1922 | 4 | $204m | 5.24% | 1.73% | 89.0% | |
Gouverneur Savings And Loan Association | 1892 | 5 | $166m | 3.43% | 1.00% | 73.7% | |
Massena Savings And Loan | 1924 | 2 | $134m | 1.00% | 0.09% | 57.0% |
*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.