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.

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 ?
Upon completion of the transaction, two board members from Country Bank will join the board of directors of State Bank Corp.
SBI is facing a situation where most of its branches and those of State Bank of Indore are competing for the same business, in the same market, under he same brand.
This past May, Union State Bank provided a generous sponsorship of $20,000 as well as an enthusiastic team of employees for the hospital's 2nd annual "Walk the Walk and Family Fun Day.
The order requires the Central State Bank to pay a civil money penalty of $2,000, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund.
Harold Peterson, SVP of municipal affairs for Union State Bank, announced the pledge in April at the UHR's Spring Brunch.
In addition to the funds raised for the hurricane relief, Union State Bank has chosen to donate over $13,500 to the Westchester Chapter of the American Red Cross in lieu of customer and employee holiday gifts.
The State Bank of India, without admitting to any allegations, consented to the issuance of the order.
Gedney commented, "Union State Bank is pleased to make a donation to the New Rochelle Opera, which as become a performing arts treasure in Westchester by presenting imaginative and appealing operas at reason able prices.

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