mutual savings bank


Also found in: Dictionary, Thesaurus, Encyclopedia, Wikipedia.
Related to mutual savings bank: savings and loan association

Mutual savings bank

A state-chartered savings bank which is owned by its depositors and managed by a fiduciary board of trustees.

Mutual Savings Bank

A savings and loan association that has no stockholders and, as a result, reinvests all profits in itself. Most mutual savings banks are owned by their depositors and borrowers. Because there are no stockholders to please, mutual savings banks are often very conservative with how they invest deposits. As a result, they tend to survive periods of financial distress relatively well. This was especially true during the Great Depression. In the United States, most mutual savings banks are in the Northeast.

mutual savings bank (MSB)

A deposit-gathering thrift institution that chiefly makes mortgage loans. Mutual savings banks, typically located in the northeastern states, are organized much like savings and loan associations. MSBs are technically not depositor-owned, although all are state-chartered. Also called savings bank.
References in periodicals archive ?
As a mutual savings bank, there are no shareholders to claim a portion of the bank's earnings, and the result is lower lending rates and higher returns on deposits for customers.
In the second quarter of 2009, Mutual Savings Bank sold $4.
With over USD140m in assets, Mutual Savings Bank is a full-service financial institution that operates from its main office at East Jefferson Street, Franklin, Indiana and branches in Franklin at North Main Street, and in the Franklin United Methodist Community, as well as in Nineveh and Trafalgar, Indiana.
Coffey, current Executive Vice President, Chief Operating Officer and Chief Financial Officer for Third Century Bancorp and Mutual Savings Bank, will become President and CEO of Third Century Bancorp and Mutual Savings Bank following the retirement of Robert D.
With assets of over USD135m, Mutual Savings Bank is a full-service financial institution with its main office at East Jefferson Street, Franklin, Indiana.
Third Century Bancorp (OTCBB:TDCB), an Indiana corporation and parent company of Mutual Savings Bank announced today that on May 23, 2008 the Board of Directors declared a quarterly cash dividend of $0.
Third Century Bancorp (NASDAQ-OTCBB: TDCB), an Indiana corporation and parent company of Mutual Savings Bank, has said that its board of directors has declared a dividend of USD0.
Board of directors of Third Century Bancorp (OTCBB: TDCB), an Indiana corporation and parent company of Mutual Savings Bank, has declared a dividend of USD0.
Heuchan, President and CEO of Third Century Bancorp (OTCBB:TDCB), the holding company of Mutual Savings Bank, announced that for the quarter ended March 31, 2008, net income amounted to $13,000, a decrease of 67.
MCSB converted from a mutual savings association to a mutual savings bank in December 1992 and then converted to the stock form of ownership in June 1993.
Third Century Bancorp is the parent company of Mutual Savings Bank.
Third Century Bancorp (OTCBB:TDCB), an Indiana corporation and parent company of Mutual Savings Bank announced today that on February 28, 2008 the Board of Directors declared a quarterly cash dividend of $0.

Full browser ?