|Part of a series on financial services|
In the English language, banq and banc are coined words pronounced identically to the word "bank". Both terms have been adopted by financial services companies and others to satisfy legal restrictions on the usage of the word bank.[ citation needed ] The compound bancorp (banc/bank + corp[oration] ) is often used in the names of bank holding companies. For example, a hypothetical chartered bank named Bank of Manhattan might form a holding company named "Manhattan Bancorp", and a sister insurance business named "Banc of Manhattan Insurance". One well-known past example was Bank of America's investment banking entity, named Banc of America Securities (now part of Bank of America Merrill Lynch).
English is a West Germanic language that was first spoken in early medieval England and eventually became a global lingua franca. It is named after the Angles, one of the Germanic tribes that migrated to the area of Great Britain that later took their name, as England. Both names derive from Anglia, a peninsula in the Baltic Sea. The language is closely related to Frisian and Low Saxon, and its vocabulary has been significantly influenced by other Germanic languages, particularly Norse, and to a greater extent by Latin and French.
A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.
This practice originates from legal necessity: in the United States, the commerce departments of state governments generally prohibit or restrict the use of certain words in the names of corporations unless those corporations are legitimate chartered banks. For example, words prohibited by the state of Louisianainclude bank, banker, banking, savings, safe deposit, trust, trustee, and credit union.
The evasive nature of the word does not necessarily indicate that an imposter is attempting to fraudulently impersonate a bank. One notable example is a company called Cachet Banq Inc.,an ACH (automated clearing house) processing service that performs automated banking transactions for payroll processing. The company does not claim to offer any banking services, such as deposits or loans, and would only be able to legally include the word "bank" in its name in its home state of California with the approval of the California Department of Financial Institutions.
A payroll is a company's list of its employees, but the term is commonly used to refer to:
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations etc. The recipient incurs a debt, and is usually liable to pay interest on that debt until it is repaid, and also to repay the principal amount borrowed.
A similar example includes a company called Wine Banq,whose name clearly suggests it has nothing to do with the banking industry.
Naming laws vary from jurisdiction to jurisdiction as well as their interpretations. Notable counter-examples include blood banks and sperm banks.
A blood bank is a center where blood gathered as a result of blood donation is stored and preserved for later use in blood transfusion. The term "blood bank" typically refers to a division of a hospital where the storage of blood product occurs and where proper testing is performed. However, it sometimes refers to a collection center, and indeed some hospitals also perform collection.
A sperm bank, semen bank or cryobank is a facility or enterprise which purchases and stores human semen from men known as sperm donors for use by women who wish to use donor-provided sperm to achieve a pregnancy or pregnancies other than by a sexual partner. Sperm sold by a sperm donor is known as donor sperm. Sperm is introduced into the recipient woman by means of artificial insemination or by IVF and the process may also involve donated eggs or the use of a surrogate.
A banking license is a legal prerequisite for a financial institution that wants to carry on a banking business. Under the laws of most jurisdictions, a business is not permitted to carry words like a bank, insurance, national in their name, unless it holds a corresponding license. Depending to their banking regulations, jurisdictions may offer different types of banking licenses, such as
Bank One Corporation was the sixth-largest bank in the United States. It traded on the New York Stock Exchange under the stock symbol ONE. The company merged with JPMorgan Chase & Co. on July 1, 2004. The company had its headquarters in the Bank One Plaza in the Chicago Loop in Chicago, Illinois, now the headquarters of Chase's retail banking division.
U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of US Bank National Association, known as US Bank, which is ranked 7th on the list of largest banks in the United States. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. It has 3,106 branches and 4,842 ATMs, primarily in the Midwestern United States, and has approximately 72,400 employees. The company also owns Elavon, a processor of credit card transactions.
Bank of the West is a regional financial services company, headquartered in San Francisco, California. It is a subsidiary of BNP Paribas. It has more than 600 branches and offices in the Midwest and Western United States.
A bank holding company is a company that controls one or more banks, but does not necessarily engage in banking itself. The compound bancorp is often used to refer to these companies as well.
BB&T Corporation is a bank holding company based in Winston-Salem, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, D.C., and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services. It was ranked 16th on the list of largest banks in the United States by assets. Its subsidiary, BB&T Insurance Services, was one of the largest insurance brokers in the world. In its history BB&T has made 106 mergers and acquisitions. Since it took over Southern National Bank in 1995, BB&T has made 43 deals. It is merging with SunTrust Banks in 2019, which will lead to a new name and a headquarters in Charlotte, North Carolina.
Regions Financial Corporation is a bank and financial services company headquartered in the Regions Center in Birmingham, Alabama. The company provides retail and commercial banking, trust, securities brokerage, mortgage and insurance products and services.
Banking in Canada is widely considered one of the safest banking systems in the world, ranking as the world's soundest banking system for the past six years (2007-2013) according to reports by the World Economic Forum. Released in October 2010, Global Finance magazine put Royal Bank of Canada at number 10 among the world's safest banks and Toronto-Dominion Bank at number 15. Canada's banks, also called chartered banks, have over 8,000 branches and almost 18,000 automated banking machines (ATMs) across the country. In addition, "Canada has the highest number of ATMs per capita in the world and benefits from the highest penetration levels of electronic channels such as debit cards, Internet banking and telephone banking".
A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution offers a wide array of face-to-face and automated services to its customers.
First Hawaiian, Inc. is a bank holding company headquartered in Honolulu, Hawai'i. It is a unit of BNP Paribas. Its principal subsidiary, First Hawaiian Bank founded in 1858, is Hawai'is oldest and largest financial institution headquartered in Honolulu, Hawaii, at the First Hawaiian Center. The bank has 57 branches throughout Hawai'i, three in Guam and two in Saipan. It offers banking services to consumer and commercial customers, including deposit products, lending services and wealth management, insurance, private banking and trust services. First Hawaiian was listed on the NASDAQ on August 4, 2016 and made its debut at number 12 in January 2017 publication of Forbes' American's 100 Largest Banks with $20 billion in total assets.
First Interstate Bancorp was a bank holding company based in the United States that was taken over in 1996 by Wells Fargo. Headquartered in Los Angeles, it was the nation's eighth largest banking company.
Associated Banc-Corp is a U.S. regional bank holding company providing retail banking, commercial banking, commercial real estate lending, private banking, specialized financial services, and insurance services. It is headquartered in Green Bay, Wisconsin and is the largest bank headquartered in Wisconsin. It has over 230 banking locations serving more than 110 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio, and Texas.
First Interstate BancSystem, Inc., is a financial holding company for both the company and its primary banking subsidiary First Interstate Bank. Both are based in Billings, Montana.
BancorpSouth Bank is a bank holding company headquartered in Tupelo, Mississippi with operations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee, Texas, and Illinois. In 1876, Raymond Trice and Company received a charter to create a bank in its hardware store in Verona, Mississippi. In 1886, the banking operation was moved to Tupelo, Mississippi and the company was renamed to Bank of Lee County, Mississippi. Soon after, it was renamed to the Bank of Tupelo. The bank was renamed to Bank of Mississippi in 1966. In 1997, the bank changed its name to BancorpSouth.
PacWest Bancorp is a bank holding company based in Los Angeles, California, with one wholly owned banking subsidiary, Pacific Western Bank. Pacific Western Bank has 79 full-service branches in California and one branch in Durham, North Carolina. Pacific Western provides commercial banking services, including real estate, construction, and commercial loans, and deposit and treasury management services to small and medium-sized businesses. Pacific Western offers additional products and services under the brands of its business groups, CapitalSource and Square 1 Bank, now known as National Lending and Venture Banking groups, respectively. National Lending Group provides cash flow, asset-based, equipment and real estate loans and treasury management services to established middle-market businesses on a national basis. Venture Banking Group focuses on entrepreneurial businesses and their venture capital and private equity investors.
Valley National Bank of Arizona was a bank based in Phoenix, Arizona, founded in 1900 and acquired by Bank One in 1992. The bank was one of Arizona's leading financial institutions during the 20th century and the last major independent bank in Arizona at the time of its acquisition.
The NASDAQ Financial-100 is a specialty index operated by NASDAQ that follows stocks in the Financial services index. It was created in 1985 as the sister index to the more widely followed NASDAQ-100. As designed by NASDAQ, this index follows companies that engage in banking, insurance, mortgages, securities trading and real estate. It also has, among its components, exchanges, including NASDAQ itself.
Star Banc Corporation was a Cincinnati, Ohio-based regional bank holding company that became Firstar in 1998 and eventually became U.S. Bancorp in 2001. The company can trace it origins back to 1863 when it was first founded as the First National Bank of Cincinnati.