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 ?
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.
The FDIC's new rule implements Section 24 of the Federal Deposit Insurance Act, which allows state-chartered banks to conduct activities beyond those of national banks only if the FDIC approves them.
lead bank of AmSouth Bancorporation (NYSE: ASO) has filed applications to become an Alabama state-chartered bank and a member of the Federal Reserve System.
New Jersey has 57 state-chartered banks and 24 state-chartered savings banks, all of which offer low-cost checking to consumers.
Higher exam fees will decrease the resources that state-chartered banks have to make these loans," said Lauffer, chairman/president/CEO of the First National Bank of Herminie, Penn.
During the last five years, 68 new state-chartered banks have opened with DFI approval.
The Conference of State Bank Supervisors is the professional association of the state officials who charter, supervise and regulate the nation's 8,800 state-chartered banks.
12 /PRNewswire/ -- The FDIC's proposed regulation governing the activities and permissible investments of state-chartered banks exceeds statutory requirements, the Independent Bankers Association of America said today.
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.

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