savings bank

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Related to Savings Banks: Mutual Savings Banks

Savings bank

An institution that primarily accepts consumer savings deposits and to make home mortgage loans.

Federal Savings and Loan Association

A federally chartered bank that specializes in taking deposits for checking and savings accounts, as well as making home mortgages. Savings and loan associations tend to be smaller than other banks and are more focused on the local communities in which they operate. It is sometimes (but not always) easier to obtain a loan from a savings and loan association because it may have better knowledge of the local market. They derive most of their funds from customer savings accounts, but they also generally have easy access to loans from the Federal Home Mortgage Banks. They are also known as thrifts. They are regulated by the Office of Thrift Supervision.

savings bank

savings bank

a BANK which offers clients a variety of savings accounts to attract deposits, mainly from the general public, and which specializes in investments in financial securities such as STOCKS and SHARES and government BONDS. In recent times, however, some savings banks, such as the Trustee Savings Bank, have become JOINT-STOCK COMPANIES and operate more like the COMMERCIAL BANKS, offering their clients money transmission services (cheque books and credit cards), bank loans and mortgages, and other financial services.

savings bank

a financial institution that accepts deposits from savers and that specializes in investments in stocks and shares and government securities. Some of the larger savings banks now offer depositors COMMERCIAL BANK facilities (for example, the use of a cheque book). See also FINANCIAL SYSTEM.

savings bank

Originally organized under individual state supervision as a vehicle for cash workers to deposit their earnings. The industry remained small until the mid-1980s, when savings banks became a federally chartered alternative to the savings and loan associations,whose insurance fund was bankrupt.Savings banks could be protected under the Bank Insurance Fund of the FDIC.

References in periodicals archive ?
The conversion and acquisition will not affect the terms and balances of accounts at Asheville Savings Bank or the FDIC insurance coverage of such accounts.
The bank's conversion from a federally-chartered savings bank became effective on March 9, 1993.
We believe that the combination of two strong and forward-looking financial institutions such as Mutual Savings Bank and First Northern Savings Bank will provide us, and our customers, with many opportunities going forward.
The State of Wisconsin sought to regulate WFS simply because it was structured as an operating subsidiary of a federal savings bank.
21 /PRNewswire/ -- In the wake of the Commonwealth's seizure this afternoon of Attleboro Pawtucket Savings Bank, the fund that insures savings bank deposits in excess of $100,000 moved quickly to assure customers that their money is protected.
Under his leadership, Flushing grew from a small mutual savings bank to a publicly owned bank holding company with $1.
Effective today, Liberty Savings Bank is a wholly owned subsidiary of Liberty Centre Bancorp, Inc.
Finally, the new organization's role and competitive position will be reviewed since SwedBank's unique function as the Swedish clearer for savings banks, and as the specialized wholesale arm of the savings bank sector, appear to be diminishing.
27, 1995--Medford Savings Bank (NASDAQ:MDBK) announced that Thomas F.
6, 1995--Medford Savings Bank announced plans to open its sixteenth full service banking office at 695 Main St.
Chicopee Bancorp will sell 6,888,304 shares of common stock to eligible depositors of Chicopee Savings Bank and to the Chicopee Savings Bank Employee Stock Ownership Plan at a price of $10.

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