Meow is a financial technology company, not a bank.
Meow Technologies, Inc.
Meow is a financial technology company, not a bank.
Meow helps businesses in Mississippi apply for a high-interest business checking account from FirstBank, a Tennessee corporation; Member FDIC.
If your business is approved for a business checking account offered by FirstBank, a Tennessee corporation; Member FDIC, through Meow, you can access: | |||||
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Up to 5.02% | |||||
Check issuance, depending on the partner bank (see our terms) | |||||
Spend controls that allow you to set an "initiator" and "approver" for any wire or ACH transaction from our partner banks | |||||
Accounting integrations to Quickbooks, Xero and NetSuite | |||||
Multi-entity and multi-user accounts |
This table shows an overview of some financial health metrics for the top 5 community banks in Mississippi ranked by total deposits. This data is sourced from the Federal Deposit Insurance Corporation's (FDIC) BankFind Suite. The table shows data as of 12/31/23.
Bank Name | Year Founded | Branches | Total Deposits | Net Interest Margin | Return on Assets | Loan to Deposit Ratio | |
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Guaranty Bank And Trust Company | 1943 | 38 | $1.91b | 4.63% | 0.93% | 132.2% | |
Planters Bank & Trust Company | 1920 | 23 | $1.63b | 4.16% | 1.32% | 72.9% | |
The Citizens National Bank Of Meridian | 1888 | 29 | $1.38b | 2.63% | 0.63% | 30.0% | |
The Citizens Bank Of Philadelphia, Mississippi | 1908 | 27 | $1.17b | 3.31% | 1.87% | 51.0% | |
Priorityone Bank | 1975 | 18 | $910m | 3.75% | 1.30% | 80.6% |
*Source: Federal Deposit Insurance Corporation's (FDIC) BankFind Suite for reporting period ending 12/31/23
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.
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.