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
community bank, stand-alone
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.
