savings bank


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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 ?
Furthermore, we have begun the process to brand our Liberty Bank branches in New Jersey as Northfield Savings Bank in early 2005.
Roessler further stated: "We will continue to stand with Graham Savings Bank and its directors in this other action and defend it vigorously.
Four Johnstown Savings Bank directors will join the U.
As a Web-based program, CourtesyConnect enables Sharon Savings Bank to give its customers a service they have come to expect without having to invest in additional hardware or IT staff.
We look forward to serving Rockland County and the customers of The Savings Bank of Rockland County.
Citizens Savings Bank conducts operations through its main office in Newton and eleven branch offices located in Catawba, Alexander, Lincoln and Gaston Counties, N.
Celebrating its 85th anniversary, Wauwatosa Savings Bank offers services including mortgage, home equity and commercial loan products, checking, savings, certificates of deposit, money market and IRA accounts.
Mutual Savings Bank of Rockingham County, SSB is headquartered in Reidsville, N.
Founded in 1868, Georgetown Savings Bank, with branches in Georgetown, North Andover, and Rowley, MA, serves the financial needs of Essex County and southern New Hampshire residents and businesses.
The letter of intent provides for the conversion of Perpetual Savings Bank from a state chartered mutual savings bank to a state chartered capital stock savings bank and for the simultaneous acquisition of Perpetual Savings Bank by First Southern Bancorp, Inc.
According to Mark O'Connell, President of Hudson Savings Bank, "This is a win-win-win.

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