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1. idfpr.illinois.gov › banks › cbtBanks and Trust Companies - Department of Financial ...

   idfpr.illinois.gov › banks › cbt

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   Jul 24, 2024 · A state bank may purchase and hold the minimum amount of Federal Home Loan Bank stock in order to become a member. A state bank may also purchase and hold Federal Home Loan Bank stock in excess of the minimum required for membership, but only in limited circumstances and subject to the same conditions and limitations imposed on a national bank.

2. www.investopedia.com › terms › sState Bank: What it is, How it Works, Services - Investopedia

   www.investopedia.com › terms › s

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   • What Is A State Bank?
   • Understanding State Banks
   • State Bank Services: Commercial, Insurance, and Private Banking Offerings

   A state bank is a financial institution that a state has chartered primarily to provide commercial banking services. A state bank is not the same as a central or reserve bank; these institutions are primarily concerned with influencing a government's monetary policy.

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   State banks were championed by economists, such as Arthur Lewisand Gunnar Myrdal, who were proponents of greater participation by the public sector in financial markets. Their argument was that government role smoothed out the imperfections and crises that the financial markets were prone to. As a result, state banks dominated Western economies up ...

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   Most state banks focus on personal banking services. These generally include accepting deposits, offering checking accounts, as well as business, personal, and mortgage loans. Additionally, many state banks will provide basic financial products (e.g. certificates of deposit(CDs)) and savings accounts to individuals and small businesses. The Jonesbu...

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   • Author: Julia Kagan

3. www.csbs.org › state-chartered-banks-stateState-Chartered Banks by State - CSBS

   www.csbs.org › state-chartered-banks-state

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   Jun 1, 2021 · This interactive map displays the number of state-chartered banks per state. State-chartered banks are supervised by their respective state regulator.

4. law.justia.com › codes › illinois2023 Illinois Compiled Statutes Chapter 205 - Justia Law

   law.justia.com › codes › illinois

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   (a) A State bank that purchases an Illinois branch of an insured savings association that is not an eligible depository institution may establish and maintain that branch as a branch of the purchasing State bank.

5. idfpr.illinois.gov › bankingIDFPR | Division of Banking

   idfpr.illinois.gov › banking

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   Jul 24, 2024 · Search for Illinois financial service providers including state-chartered banks, mortgage banks, mortgage loan originators, and pawnbrokers.

6. idfpr.illinois.gov › banks › lawsDivision of Banking - Legal - Department of Financial ...

   idfpr.illinois.gov › banks › laws

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   Jul 24, 2024 · Act 3205 -- Division of Banking Act. Act 3210 -- Illinois Bank Examiners' Education Foundation Act. Chapter 110 - Higher Education. Act 992 -- Student Loan Servicing Rights Act. Chapter 205 - Financial Regulation. Act 5 -- Illinois Banking Act. Act 10 -- Illinois Bank Holding Company Act of 1957. Act 205 -- Savings Bank Act.

7. People also ask

   Can an Illinois State Bank be a holding company?

   • Incorporators of an Illinois state bank in organization may, to satisfy the requirement of Section 8, subscribe to stock of the bank or stock of the corporation formed to be the bank holding company of the bank. Purchases of stock in the Federal National Mortgage Association ("FNMA") are not subject to investment limits.

   Banks and Trust Companies - Department of Financial & Professional

   idfpr.illinois.gov/banks/cbt/legal/intrltr/iba.html

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   What is a State Bank?

   • State banks are financial institutions chartered by a state to provide commercial banking services. Unlike the Federal Reserve, they are not responsible for monetary policy and are restricted to providing banking and, in some cases, wealth management and insurance services.

   State Bank: What it is, How it Works, Services - Investopedia

   www.investopedia.com/terms/s/state-bank.asp

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   Can a state bank establish a branch in Illinois?

   • State bank's appointment of out-of-state banks as agents to issue and pay certificates of deposit does not constitute the establishment of branches. Illinois Department of Employment Security may visit state bank despite exclusive visitation provision of Section 48 solely for purpose of verifying unemployment tax records.

   Banks and Trust Companies - Department of Financial & Professional

   idfpr.illinois.gov/banks/cbt/legal/intrltr/iba.html

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   What powers does a State Bank have in Illinois?

   • State bank's incidental powers include the authority to contribute to bank trade association's building fund. State bank that is owned by foreign corporation may purchase a residence for use by bank personnel temporarily assigned to Illinois.

   Banks and Trust Companies - Department of Financial & Professional

   idfpr.illinois.gov/banks/cbt/legal/intrltr/iba.html

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8. www.federalreserve.gov › aboutthefed › section9Federal Reserve Board - Section 9. State Banks as Members

   www.federalreserve.gov › aboutthefed › section9

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   A State member bank may make investments directly or indirectly, each of which is designed primarily to promote the public welfare, including the welfare of low- and moderate-income communities or families (such as by providing housing, services, or jobs), to the extent permissible under State law. A State member bank shall not make any such ...