Unitary Thrift

Unitary Thrift

A company that owns one thrift, which is a bank specializing in residential mortgages and checking/savings accounts. A unitary thrift has more freedom than a bank holding company: for example, up to 20% of its holdings may be commercial loans. New unitary thrifts were banned after the Gramm-Leach-Bliley Act.
References in periodicals archive ?
Pocahontas Bancorp is a unitary thrift holding company that owns First Community Bank, a federally chartered savings and loan.
is a unitary thrift holding company for North American Savings Bank, F.
Pocahontas Bancorp is the unitary thrift holding company that owns First Community Bank, a federally chartered savings and loan.