Independent Bank

Definition

  • A bank that is locally owned and operated, and not associated with a bank holding company. Also referred to as a community bank.

Synonyms
stand-alone, community bank

Related Terms and Acronyms

  • Bank Definition,
    • An institution that acts as a financial intermediary by receiving money from depositors and lenders and also lending to borrowers.
  • Commercial Bank (CB) Acronym,
    • A financial institution that provides a broad range of services, from chequing and savings accounts to business loans and credit cards.
  • Community Bank Definition,
    • A bank that is locally owned and operated, but is not part of a bank holding company. Also referred to as an independent bank.
  • Niche Banks Definition,
    • Smaller banks that cater to particular communities or certain industries. These banks have been thriving in the fallout from mega-bank mergers.
  • Regional Bank Definition,
    • A bank with a primary market in a regional or metropolitan area but takes deposits from throughout the province in which it is located. Usually called a Credit Union in Canada.
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