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 ?
It is easy to see the relative size of state-chartered banks as compared to federally chartered banks in Alaska.
During the last five years, 75 new state-chartered banks have opened with DFI approval.
Like all California state-chartered banks, New Resource Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC), up to $100,000 per depositor.
During the last five years, 72 new state-chartered banks have opened with DFI approval.
Like all California state-chartered banks, Premier Business Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC), up to $100,000 per depositor.
I am pleased to welcome Premier Business Bank -- the eleventh new bank to open in 2006 -- and to report that state-chartered banks continue to grow and prosper in California," said Michael A.
During the last five years, 71 new state-chartered banks have opened with DFI approval.
I am pleased to welcome Pinnacle Bank -- the eighth new bank to open in 2006 -- and to report that state-chartered banks continue to grow and prosper in California," said Michael A.
During the last five years, 68 new state-chartered banks have opened with DFI approval.
I am pleased to welcome Presidio Bank - the tenth new bank to open in 2006 - and to report that state-chartered banks continue to grow and prosper in California," said Michael A.
I am pleased to welcome American Riviera Bank -- the ninth new bank to open in 2006 -- and to report that state-chartered banks continue to grow and prosper in California," said Michael A.
CSBS has now accredited 45 of the nation's 54 state banking departments; these agencies supervise more than 95 percent of all assets in state-chartered banks around the country.

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