bank charter

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  • noun

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a charter authorizing the operation of a bank

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NASDAQ: HBCP), the parent company of Home Bank headquartered in Lafayette, Louisiana, has said that the bank has converted from a federal savings bank charter to a national bank charter.
Bordelon, President and Chief Executive Officer of the Company and the Bank, said, "We converted the Bank to a national bank charter because we believe it is better aligned with the commercial and retail banking business model that we have operated under for more than a decade.
The letter said California law permits a state-chartered credit union to convert to a bank charter, but as a purchase and assumption transaction.
Assuming Benefit is granted a state bank charter and considering IberiaBank FSB of Little Rock's announced plan to merge into its Louisiana-chartered sister IberiaBank, the number of thrifts chartered in Arkansas is about to dwindle to four: First Federal Bank of Harrison, United Bank of Springdale, Priority Bank of Ozark and Corning Savings & Loan Association.
NEW YORK: President Barack Obama s economic adviser, Paul Volcker, said his proposed banking rules would force Goldman Sachs and other banks to give up their bank charters if they want to continue proprietary trading.
The letter ruling recasts the events leading up to the sale of the bank charter into transaction steps constituting a tax-free reorganization and discusses the tax implications of each step of the reorganization.
The Federal Reserve believes that it is important that the national bank charter not be impaired or diminished in view of its significance to the nation's financial system.
The switch to the commercial bank charter was made as part of our strategic planning effort as we expand our customer base and broaden our marketing thrust in the community," Mr.
Dana Stonestreet, chairman, president and CEO, said, 'Conversion to a national bank charter is a component of our strategic business plan for the growth of our commercial banking line of business.
OTCQB: NIDB), the holding company of First Federal Savings Bank (Bank), has announced that the Bank will convert from a federal thrift charter to an Indiana commercial bank charter effective June 30, 2012.
The California Credit Union League and CUNA CEO Bill Cheney both expressed concern that Technology CU members be completely informed about the effects of a move to a mutual bank charter.
The incremental changes at IberiaBank FSB continue: In a couple of months, the Little Rock-chartered thrift will be folded into the Louisiana state bank charter of its sister institution, IberiaBank.
A broader charter for thrift institutions - such as a commercial bank charter that lets them hold a wider range of assets - thus would seem to be good public policy, and the bill before you confronts the challenge of creating one charter.
TSFG has consolidated the Mercantile Bank charter into its other banking charter, Carolina First Bank, effective July 1, 2007.
In what has become a rare occurrence, a federal credit union in Maryland has taken the what many see as the first step in the process to change to a mutual bank charter.