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.
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.
During the last five years, 68 new state-chartered banks have opened with DFI approval.
Like all California state-chartered banks, the Five Star Bank Natomas deposits are insured by the Federal Deposit Insurance Corporation (FDIC), up to $100,000 per depositor.
Like all California state-chartered banks, the San Diego Trust Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC), up to $100,000 per depositor.
Like all California state-chartered banks, Pacific City Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC), up to $100,000 per depositor.
DFI licensees include California state-chartered banks, state-licensed savings and loans, trust companies, state-licensed offices of foreign banks, issuers of travelers checks and money orders, transmitters of money abroad, state-licensed credit unions and industrial loan companies.
We hope the OCC decision will provide an incentive to state regulators to provide this same opportunity to state-chartered banks where it is not already permitted.
of San Francisco to acquire control of the three California state-chartered banks controlled by First Interstate Bancorp of Los Angeles (First Interstate Bank of California, First Interstate Central Bank and First Interstate Bank Ltd.
As a result, the branches of the two former state-chartered banks will be operated as branches of a single entity in both Massachusetts and New Hampshire.

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