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English definition of “stock savings bank”

stock savings bank

noun [C]
 
 
BANKING, FINANCE
in the US, a bank where people save their money, that is owned by shareholders, rather than being a mutual (= one owned by people with money in the bank): The bank plans to convert to a stock savings bank to enable it to raise up to $40 million in capital.
→  Compare mutual savings bank
(Definition of stock savings bank from the Cambridge Business English Dictionary © Cambridge University Press)
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