Free to Use Business Checking Accounts in Oconee County, South Carolina (August 2024 Update)

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Meow Technologies, Inc.

Published on

Monday, August 5, 2024

Free to Use Business Checking Accounts in Oconee County, South Carolina (August 2024 Update)

Use Meow to Apply for a Business Checking Account in Oconee County, South Carolina

Meow is a financial technology company, not a bank.

Meow helps businesses in Oconee County, South Carolina apply for a high-interest business checking account from FirstBank, a Tennessee corporation; Member FDIC.

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Other Alternatives in Oconee County, South Carolina

This table shows an overview of some financial health metrics for the top 3 community banks in Oconee County, South Carolina 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 NameYear FoundedBranchesTotal DepositsNet Interest MarginReturn on AssetsLoan to Deposit Ratio

Community First Bank, Inc.

1990

13

$580m

0.08%

-1.85%

12.2%

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Oconee Federal Savings And Loan Association

1924

9

$530m

1.22%

0.48%

99.6%

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Blue Ridge Bank

1957

5

$157m

7.79%

1.95%

39.3%

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*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.

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For more information, take a look at our article on the key benefits of business checking accounts.

Meow Technologies is a financial technology company, not a bank or FDIC-insured depository institution. Likewise, Meow Technologies is not an investment adviser and none of the information presented herein should be relied upon as financial advice or a recommendation to make any financial decision nor should it be considered to be tax or legal advice. The information is the opinion of Meow Technologies for educational purposes and may not be suitable for all companies. Products, like the one described herein, are offered through Meow Technologies and are not advisory services which are only offered through Meow Advisory, LLC.** The FDICs deposit insurance coverage only protects against the failure of an FDIC-insured bank.**

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