savings bank

noun

Definition of savings bank

: a bank organized to hold funds of individual depositors in interest-bearing accounts and to make long-term investments (as in home mortgage loans)

Examples of savings bank in a Sentence

Recent Examples on the Web North Shore Bank is a mutual savings bank based out of Brookfield with 45 locations in Wisconsin and Illinois. Alex Groth, Milwaukee Journal Sentinel, 13 Oct. 2021 In 1982, the institution changed its name from San Diego Federal to Great American Federal Savings Bank and became the nation’s first such institution to shift from a federal S&L to a savings bank. San Diego Union-Tribune, 10 Aug. 2021 Eastern, founded in 1818 as a local savings bank serving Salem, north of Boston, now has $15.5 billion in assets and 89 branches in Massachusetts, New Hampshire and Rhode Island and a headquarters in Boston’s financial district. Ruth Simon, WSJ, 29 Dec. 2020 Sberbank, which is the successor of the Soviet Union’s savings bank, is attempting to reposition itself as a technology company that can provide customers with services from taxis to telemedicine. Anna Baraulina, Bloomberg.com, 16 Oct. 2020 So far, says Leishman, his customers have been treating the service like a savings bank with deposits—in the form of Bitcoin purchases—accounting for 97% of transactions. Jeff John Roberts, Fortune, 17 June 2020 Those figures include the performance of the company’s investment management arm and its federal savings bank, as well as its life insurance line. Greg Jefferson, ExpressNews.com, 24 Jan. 2020 Ultimately, having one Landesbank catering to the nation’s 380 or so savings banks — rather than half a dozen — is probably sufficient. Washington Post, 10 Oct. 2019 Colleen worked for many years at Farmer's Mechanics savings bank, as a crossing guard at Farm Hill Elementary before working in the records department at the Middletown Police Station. courant.com, 12 Dec. 2019

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'savings bank.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of savings bank

1813, in the meaning defined above

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Time Traveler for savings bank

Time Traveler

The first known use of savings bank was in 1813

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Statistics for savings bank

Cite this Entry

“Savings bank.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/savings%20bank. Accessed 26 Jan. 2022.

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More Definitions for savings bank

savings bank

noun

English Language Learners Definition of savings bank

: a business where people keep money that they are saving in order to earn interest on it and where they can borrow money to buy homes, cars, etc.

savings bank

Legal Definition of savings bank

— see bank

More from Merriam-Webster on savings bank

Britannica.com: Encyclopedia article about savings bank

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