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Washington Mutual was the United States' largest savings and loan association until its collapse in 2008.
A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans. The terms "S&L" or "thrift" are mainly used in the United States; similar institutions in the United Kingdom, Ireland and some Commonwealth countries include building societies and trustee savings banks. They are often mutually held, meaning that the depositors and borrowers are members with voting rights, and have the ability to direct the financial and managerial goals of the organization like the members of a credit union or the policyholders of a mutual insurance company. While it is possible for an S&L to be a joint-stock company, and even publicly traded, in such instances it is no longer truly a mutual association, and depositors and borrowers no longer have membership rights and managerial control. By law, thrifts can have no more than 20 percent of their lending in commercial loans—their focus on mortgage and consumer loans makes them particularly vulnerable to housing downturns such as the deep one the U.S. experienced in 2007.
Postal savings systems provide depositors who do not have access to banks a safe and convenient method to save money. Many nations have operated banking systems involving post offices to promote saving money among the poor.
Old National Bank is an American regional bank with nearly 200 retail branches operated by Old National Bancorp and based in Chicago, Illinois and Evansville, Indiana. With assets at $23.0 billion and 162 banking centers, Old National Bancorp is the largest financial services bank holding company headquartered in Indiana and one of the top 100 banking companies in the U.S. Its primary banking footprint is in Illinois, Indiana, Kentucky, Michigan, Minnesota, and Wisconsin.
HSBC Bank USA, National Association, an American subsidiary of multinational company HSBC, is a bank with its operational head office in New York City and its nominal head office in McLean, Virginia. HSBC Bank USA, N.A. is a national bank chartered under the National Bank Act, and thus is regulated by the Office of the Comptroller of the Currency (OCC), a part of the U.S. Department of the Treasury. The company has 159 branch locations.
H.F. Ahmanson & Co. was a California holding company named after Howard F. Ahmanson Sr. It was best known as the parent of Home Savings of America, once one of the largest savings and loan associations in the United States.
North Fork Bank was an American bank that operated from 1950 until 2008 when it became Capital One Bank. In November 2007, it had 365 branches in the New York metropolitan area.
Wescom Credit Union is a credit union and financial services company serving Southern California. It has nearly $6 billion in assets and more than 200,000 members. It currently has 24 branches, both stand-alone offices and branches inside of grocery stores, as well as a CUSO called Wescom Resources Group headquartered in Pasadena, California that provides technology products and services to credit unions across the United States.
New York Community Bancorp, Inc. (NYCB) is a bank holding company headquartered in Hicksville, New York. The holding company owns several businesses, most notably New York Community Bank and Flagstar Bank. In 2023, the two banks operated 395 branches in New York, Michigan, New Jersey, Ohio, Florida and Arizona. Some branches bear the New York Community Bank name, while others operate under other names. NYCB is on the list of largest banks in the United States.
Dollar Bank is a full-service regional savings bank serving both individuals and business customers, operating more than 90 offices throughout Pennsylvania, Ohio, Maryland, and Virginia. The bank's Pennsylvania headquarters is located in downtown Pittsburgh, Ohio headquarters is located in downtown Cleveland, and Virginia headquarters is located in Hampton Roads.
Trustco Bank is a commercial bank within the United States. Trustco was founded in Schenectady, New York in 1902 and is headquartered in Glenville, New York. Trustco has 145 branches spread among New York, Florida, Massachusetts, New Jersey, and Vermont. Trustco Bank is an Equal Housing Lender and an Insured member of the Federal Deposit Insurance Corporation. The company operates under the slogan, "Your Home Town Bank."
Apple Bank for Savings is a savings bank headquartered in Manhasset, New York and operating in the New York metropolitan area.
WSFS Financial Corporation is a financial services company. Its primary subsidiary, WSFS Bank, a federal savings bank, is the largest and longest-standing locally managed bank and trust company headquartered in Delaware and the Greater Delaware Valley. WSFS operates from 119 offices, 92 of which are banking offices, located in Pennsylvania (61), Delaware (39), New Jersey (17), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management.
West Coast Bancorp was a publicly traded financial services holding company headquartered in Lake Oswego, Oregon. Its principal holding was West Coast Bank, a full-service, commercial bank with 63 branches in 40 cities in western and central Oregon and western Washington. As of December 31, 2006, the company had deposits totaling $2 billion and net loans of $1.9 billion. In September 2012, Columbia Banking System of Tacoma bought West Coast.
Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California; operational headquarters in Manhattan; and managerial offices throughout the United States and internationally. The company has operations in 35 countries with over 70 million customers globally. It is considered a systemically important financial institution by the Financial Stability Board. Wells Fargo, in its present form, is a result of a merger between the original Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998. While Norwest was the nominal survivor, the merged company took the better-known Wells Fargo name and moved to Wells Fargo's hub in San Francisco. At the same time, its banking subsidiary merged with Wells Fargo's Sioux Falls-based banking subsidiary. Wells Fargo became a coast-to-coast bank with the 2008 acquisition of Charlotte-based Wachovia.
The New York State Banking Department was created by the New York Legislature on April 15, 1851, with a chief officer to be known as the Superintendent. The New York State Banking Department was the oldest bank regulatory agency in the United States.
Astoria Financial Corporation was a bank holding company based in Lake Success, New York. On October 2, 2017, the company was acquired by Sterling Bancorp.
SoFi Technologies, Inc. is an American online personal finance company and online bank. Based in San Francisco, SoFi provides financial products including student and auto loan refinancing, mortgages, personal loans, credit card, investing, and banking through both mobile app and desktop interfaces.
Tandem Money is a company that owns Tandem Bank, one of the UK's original challenger banks. Tandem Bank is a digital bank with a mobile app, and no branches, with a mission to be the UK's greener digital bank.
Equitable Bank is a Canadian bank which primarily provides residential and commercial real estate lending services, as well as personal banking through its direct banking brand EQ Bank. The bank was founded in 1970 as The Equitable Trust Company and became a Schedule I Bank offering savings products in 2013. As of 2022, it is Canada's seventh largest bank, with nearly $103 billion in assets under management. As of February 2023, the bank had over $31 billion in deposits. Equitable Bank is a member of the Canada Deposit Insurance Corporation.
References
- ↑ "Quontic Bank locations".
- ↑ Smith, Andrew. "Despite shaky economy, some see opportunity for new banks." Newsday . December 19, 2009.
- ↑ Tennery, Amy. "NY Mortgage Trust founder launches bank." The Real Deal . November 24, 2009.
- ↑ Doda, Bob. "Quontic Bank coming to Queens." Queens Courier. March 9, 2011.
- ↑ Schnoonover, Jessie."Broadway welcomes Starbucks, Quontic Bank." Queens Gazette. April 13, 2011.
- ↑ Cortese, Amy. "The Queens bank growing with the city's working-class families." Crain's New York Business . November 8, 2017.
- ↑ Winzelberg, David. "Bank moves home loan offices to Melville." Long Island Business News . October 4, 2016.
- ↑ McAtee, Paige. "Bank Upgrades Offices to Melville." Half Hollow Hills Patch . October 4, 2016.
- ↑ Reich-Hale, David. "Quontic Bank plans to double staff at new Melville office." Newsday . October 10, 2016.
- ↑ Law, Janee. "Bank relocates to Route 110 corridor." Long Islander News . October 13, 2016.