[1][2] A state chartered bank cannot have "National" or "Federal" in its name.
[citation needed] State banks are chartered and regulated by a state agency (often called the Department of Financial Institutions) in the state in which its headquarters are located.
In addition, state banks that are members of the Federal Reserve are regulated by the Federal Reserve; state banks that are not members of the Federal Reserve are regulated by the Federal Deposit Insurance Corporation (FDIC).
There are a very small number of state banks that do not have FDIC insurance.
This bank and insurance-related article is a stub.