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 ?
1]: There is a statistically significant relationship between the monetary policy actions and the stock returns of savings institutions.
About two-fifths of households use savings institutions, and about one-fourth use credit unions.
Reflecting the regulatory environment of banks and savings institutions, 80% of the chairpersons reported their audit committees also were responsible for assessing compliance with banking laws and regulations.
The illustrative financial statements for banks and savings institutions assume that the entity is a registrant of the Securities and Exchange Commission and, accordingly, reflect the application of Articles 3, 3A, 4 and 9 (to the extent that such articles are applicable to these illustrative financial statements) of Regulation S-X of the SEC.
Census Categories NAICS 52212 - Savings Institutions is almost comparable to: 100% of SIC 6035 - Savings Institutions
Commercial banks also were the dominant source for savings services, far outpacing brokerage firms and savings institutions.
According to first-quarter results, 94% of all savings institutions were profitable, capital ratios were on the rise and, for the first time since the advent of regulatory reporting on thrifts in 1990, problem assets fell below 2% of total assets.
Today the home equity loan market is dominated by depository institutions, especially commercial banks and to a lesser extent savings institutions (savings and loan associations and savings banks) (table 1).
banks and savings institutions than any other software and services vendor, ITI offers several core solutions, including the Premier and PCS Vision suites, as well as a broad range of supporting products and services.
This book takes a look at the issues raised by the creation of banks and bank holding companies by savings institutions and the changes brought about by the Federal Deposit Insurance Corporation Improvement Act of 1991(FDICIA), the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), and the Gramm-Leach-Bliley Act of 1999.
Along with its deposit insurance reforms and new requirements for banks and savings institutions, the new law expands the role of independent accountants, not only requiring them to audit financial statements of certain federally insured depository institutions but also calling for management and public accountants to report on internal controls over financial reporting and compliance with specified laws and regulations.