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 South Dakota 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: | |||||
---|---|---|---|---|---|
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 South Dakota 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 | |
---|---|---|---|---|---|---|---|
First Bank & Trust | 1925 | 22 | $3.85b | 3.38% | -4.06% | 75.1% | |
Dacotah Bank | 1955 | 35 | $3.73b | 2.65% | 0.46% | 79.4% | |
First Dakota National Bank | 1872 | 17 | $2.68b | 4.36% | 1.37% | 46.3% | |
First Premier Bank | 1914 | 14 | $2.44b | 3.78% | 1.49% | 52.3% | |
The First National Bank In Sioux Falls | 1885 | 18 | $1.64b | 4.14% | 0.48% | 74.9% |
*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.