State bank

(redirected from State Chartered Bank)
Also found in: Dictionary, Thesaurus.

State bank

A bank authorized in a specific state by a state-based charter, with generally the same functions as a national bank.

State Bank

In the United States, a bank that has received its charter from a state government rather than the federal government. A state bank has the option of whether or not to become a member bank in the Federal Reserve System. If it elects to become a member, there is no real difference between a state bank and a federal bank, except that the state bank generally does business only within a state. If it does not become a member, it is regulated only by the state in which it is based. See also: Nonmember Bank.
References in periodicals archive ?
Founded in 1985 and headquartered in Waltham, Chart Bank is a state chartered bank with assets of $258.
a California corporation (the "Company" or "UPFC") (Nasdaq:UPFC), announced today that its wholly owned subsidiary, Pan American Bank, FSB, a federally chartered savings bank (the "Bank"), has signed a definitive agreement to sell certain certificates of deposit booked by the Bank through the Internet to Silvergate Bank, a California state chartered bank located in La Jolla, Calif.
to consolidate its New York State chartered bank, HSBC Bank USA, with its national trust company, HSBC Bank & Trust Company (Delaware), N.
The Board seeks to retain existing state chartered banks while encouraging federally chartered banks to become state charters.
CSBS is the professional association of state officials responsible for chartering, regulating and supervising the nation's state chartered banks.

Full browser ?