National bank


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National bank

A commercial bank approved by the U.S. Comptroller of the Currency, which is required to be a member of and purchase stocks in the Federal Reserve System.

National Bank

In the United States, a bank that has received its charter from the Office of the Comptroller of the Currency (OCC). National banks are regulated by the OCC and are required to be member banks of the Federal Reserve System. Deposits in national banks are insured by the FDIC.

National bank.

All banks in the United States are chartered by either a state government or the federal government. Federally chartered banks, called national banks, are overseen by the Comptroller of the Currency of the US Department of the Treasury.

All national banks are members of the Federal Reserve System and deposits are insured by the Federal Deposit Insurance Corporation (FDIC).

The dual banking system of federal- and state-chartered banks can be traced to the National Banking Act of 1863. The act created the new federal bank system in an attempt to impose order on what had been a chaotic situation. State banks have survived, however, and the two banking systems coexist.

References in periodicals archive ?
California National Bank is heavily involved with commercial real estate and People's Bank of California is a savings and loan bank.
The Board also has considered that on consummation of the proposal, the Hopkins County banking market would continue to be served by four banks and a savings association, including City National Bank.
Suburban National Bank of Palatine, Palatine 6/21/93 S
The documents filed by Landmark National Bank may be obtained from Securities, Investments, and Fiduciary Practices Division, Office of the Comptroller of the Currency, 250 E Street, SW, Washington, DC 20219.
In weighing the concerns expressed by commenters, the Board also has considered First National's statement that it intends to maintain Nueces Bank as a separately chartered national bank serving the Corpus Christi community.
93-24 Century National Bank of Oklahoma, Pryor 2/3/93
Dixon, a director of Provident National Bank and a former director of PNC Financial Corp.
In addition to its corporate office in Great Neck, Community National Bank has a branch office in Garden City and plans to open three more offices later this year in Woodbury, New Hyde Park and Oceanside.
First National Bank has been putting our customers first for 118 years, and BSG Financial's CourtesyConnect fits our primary need perfectly," said Charlie Henthorn, president of First National Bank.
An important feature of our agreement with Michigan National Bank is that we retain a revenue stream for our marketing and sales efforts, although we're relieved of the processing chores related to the portfolio," said Jane Sorah, corporate executive officer at Central Fidelity Bank.
Felter, Senior Vice President and Chief Financial Officer at The First National Bank of Ipswich, stated, "The sale of the trust department is one of the many steps the Bank is taking to fulfill the commitment to return the Bank to profitability.
2, 1992, for Harleysville National Bank & Trust Co.

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