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state bank
state bank n (Banking & Finance) (in the US) a commercial bank incorporated under a State charter and not required to be a member of the Federal Reserve System. Compare national bank state′ bank′
n. a bank chartered by a state. [1805–15, Amer.] Thesaurus| Noun | 1. | state bank - a bank chartered by a state rather than by the federal governmentbanking company, banking concern, depository financial institution, bank - a financial institution that accepts deposits and channels the money into lending activities; "he cashed a check at the bank"; "that bank holds the mortgage on my home" |
State bank
State bankA bank authorized in a specific state by a state-based charter, with generally the same functions as a national bank.State BankIn 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.state bank
Words related to state banknoun a bank chartered by a state rather than by the federal governmentRelated Words- banking company
- banking concern
- depository financial institution
- bank
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