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)

Example Sentences

Recent Examples on the Web Although Switzerland has dozens of smaller regional and savings banks, including 24 cantonal banks, UBS is now an even more dominant player. Hanna Ziady, CNN, 24 Mar. 2023 Aquifers are another kind of hydrological savings bank — and withdrawals can very easily exceed deposits. Tom Yulsman, Discover Magazine, 30 Mar. 2019 Lake Mead, situated near Las Vegas, is the giant hydrological savings bank that supplies water to the three lower basin states: Arizona, Nevada and California. Tom Yulsman, Discover Magazine, 11 July 2014 Subsidiaries include Northwestern Mutual Investment Services, LLC; the Northwestern Mutual Wealth Management Company, federal savings bank; and Northwestern Long Term Care Insurance Company. Joe Taschler, Journal Sentinel, 27 Oct. 2022 According to its website, Bask Bank launched the first online-only savings bank in the U.S. in 1999 as Texas Capital Bank. Rob Berger, Forbes, 23 Apr. 2022 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 See More

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'savings bank.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1813, in the meaning defined above

Time Traveler
The first known use of savings bank was in 1813

Dictionary Entries Near savings bank

Cite this Entry

“Savings bank.” Dictionary, Merriam-Webster, Accessed 30 May. 2023.

Kids Definition

savings bank

: a bank that receives and invests savings and pays interest to depositors

Legal Definition

savings bank

see bank

More from Merriam-Webster on savings bank

Last Updated: - Updated example sentences
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