Banking in the United States began in the late 1790s along with the country's founding and has developed into highly influential and complex system of banking and financial services. Anchored by New York City and Wall Street, it is centered on various financial services namely private banking, asset management, and deposit security.
The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and thrift institutions and the federally licensed branches and agencies of foreign banks in the United States. The Comptroller of the Currency is Joseph Otting, who took office in 2017.
First Horizon National Corporation is a bank holding company based in Memphis, Tennessee. Its banking subsidiary, First Horizon, is the largest bank in Tennessee and the fourth largest regional banking company in the Southeast. Founded in 1864, it is the fourteenth oldest United States bank on the list of oldest banks in continuous operation. The company provides financial services including banking, wealth management, insurance, and trading services.
Jacob Franklin Butcher was an American banker and politician. He built a financial empire in East Tennessee, was the Democratic Party nominee for governor of Tennessee in 1978. He was also the primary promoter of the 1982 World's Fair in Knoxville, Tennessee, and lost his business and his personal fortune after he was found to have engaged in bank fraud.
Regions Financial Corporation is a bank holding company headquartered in the Regions Center in Birmingham, Alabama. The company provides retail banking and commercial banking, trust, stockbrokerage, and mortgage services. Its banking subsidiary, Regions Bank, operates 1,952 automated teller machines and 1,454 branches in 16 states in the Southern United States and Midwestern United States.
In United States banking, a federal savings bank (FSB) is a savings bank that is created under and regulated by United States federal law, and administered by the United States Department of the Treasury's Office of the Comptroller of the Currency. The Federal Deposit Insurance Corporation (FDIC) insures deposit accounts in federal savings banks up to prescribed limits.
James Arthur Haslam II is an American businessman and philanthropist, best known as the founder of Pilot Corporation, which operates a chain of convenience stores and travel centers throughout the United States and Canada, and is one of the largest privately owned companies in the United States. Haslam is also a prominent donor for the University of Tennessee, having provided tens of millions of dollars to the school over several decades. Haslam's son, Jimmy, is the current owner of the Cleveland Browns, and his other son, Bill, is the former Governor of Tennessee.
Huntington Bancshares Incorporated is a bank holding company headquartered in Columbus, Ohio. The company is ranked 610th on the Fortune 500, and is among the largest banks in the United States.
MetroCorp Bancshares, Inc. was an American banking corporation headquartered in Chinatown and in Greater Sharpstown in Houston, Texas.
First Citizens Bancshares, Incorporated is a bank holding company based in Raleigh, North Carolina that operates First Citizens Bank. First Citizens operates in 18 states and the District of Columbia in the United States, concentrated in the Southeastern United States, Southern California, and Washington.
Moody National Bank (MNB) is a nationally chartered bank, founded in 1907, that is based in Galveston, Texas.
Southeast Banking Corporation was a bank holding company based in Miami, Florida that owned 2 banks. On Friday, September 19, 1991, during the savings and loan crisis, Southeast failed and was seized by the Office of the Comptroller of the Currency. It was placed into the receivership of the Federal Deposit Insurance Corporation (FDIC), who sold almost all of Southeast's assets to First Union. The bank failure is notable since it is the one of the first instances of the FDIC liquidating a bank using loss sharing provisions. As a result of several mergers over the next two decades, most of what was once Southeast is now part of Wells Fargo.
Guaranty Bank was a bank based in Milwaukee, Wisconsin. It had 119 branches, 107 of which were kiosks in grocery stores and Walmart Supercenters. The bank operated in five states: Wisconsin, Illinois, Michigan, Minnesota, and Georgia. The bank also operated locations under the name BestBank. On Friday, May 5, 2017, as a result of bank failure, the bank was shut down by the Office of the Comptroller of the Currency. It was placed into receivership and the Federal Deposit Insurance Corporation was named receiver. The assets of the bank were sold to First Citizens BancShares.
Prosperity Bancshares, Inc. is a bank holding company headquartered in Houston, Texas with operations in Texas and central Oklahoma. As of December 31, 2019, the company operated 285 branches: 65 in the Houston area, including The Woodlands, Texas; 30 in South Texas, including Corpus Christi, Texas and Victoria, Texas; 75 in the Dallas–Fort Worth metroplex; 22 in East Texas; 29 in Central Texas, including Austin, Texas and San Antonio; 34 in West Texas, including Lubbock, Texas, Midland–Odessa, and Abilene, Texas; 16 in Bryan–College Station; 6 in Central Oklahoma; and 8 in Tulsa, Oklahoma.
Cadence Bank is a US-based bank with 98 branches in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. The bank is based in Atlanta, with executive and operations headquarters in Birmingham, Alabama. It is the primary subsidiary of Houston, Texas based Cadence Bancorporation, a bank holding company.
A bank examiner is a financial professional who has the task of making sure that banks and savings and loan associations are operating legally and safely, in accordance with the bank regulations imposed on these institutions by the chartering level of government. In the United States, they may conduct supervision on behalf of a U.S. government agency, the Federal Reserve System, a state banking authority, or for the financial institutions themselves as internal auditors. The main duties of a bank examiner are to ensure that a bank's operations are legal and can provide financial stability. A bank examiner will also review financial statements, evaluate the level of risk associated with loans, and assess the management of a bank.
Joseph M. Otting is an American businessman and government official. He was sworn in as the 31st Comptroller of the Currency on November 27, 2017.
Barnett Bank of Marion County, N.A. v. Nelson, 517 U.S. 25 (1996), is a Supreme court case that ruled that states could moderate national banks if doing so does not prevent or largely interfere with the national bank's ability to exercise its powers. Later, in 2004, the OCC authorized its preemption rule which declared that a national bank's ability to exert its incidental powers which include lending and deposit taking inhibited state laws that obstruct, impair or condition” the business of banking."
Simmons Bank is a bank with operations in Arkansas, Colorado, Illinois, Kansas, Missouri, Oklahoma, Tennessee, and Texas. It is the primary subsidiary of Simmons First National Corporation, a bank holding company.
Keith A. Noreika is an American lawyer who specializes in the regulation of financial institutions. He served as Acting Comptroller of the Currency from May 5, 2017, to November 27, 2017, following the 30th Comptroller of the Currency, Thomas J. Curry, and preceding the 31st Comptroller of the Currency, Joseph Otting. Noreika rejoined the law firm of Simpson Thacher on January 8, 2018.
