State bank

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State bank

A bank authorized in a specific state by a state-based charter, with generally the same functions as a national bank.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Vantage Bank Texas is a state chartered bank with USD 356m in assets.
A state chartered bank headquartered in Missoula, Montana, Treasure State Bank serves businesses, professionals, non-profit organisations and individuals through customised banking services and products.
Sumner Bank & Trust, a state chartered bank that opened in 2005, has full service banking centers in Gallatin and Hendersonville, Tennessee, and loan production offices in Franklin, Lebanon, and Jackson, Tennessee.
Morrill Bancshares is the parent company of Morrill & Janes Bank and Trust company, the first state chartered bank in Kansas, doing business since 1871.
In conjunction with the acquisition, River Valley Financial Bank converted from a federally chartered thrift to a state chartered bank by merging with and into Dupont State Bank which has been renamed River Valley Financial Bank.
Liberty Bank is a Utah-based state chartered bank insured by the US Federal Deposit Insurance Corporation.
The Board seeks to retain existing state chartered banks while encouraging federally chartered banks to become state charters.
Do Americans believe that their assets held at federally chartered banks are less well protected than those held at state chartered banks? Would investors feel more confident in having the Securities and Exchange Commission replaced by 51 separate state securities regulators?

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