Commercial Banks
Commercial Banks: a corporation that accepts deposits, makes loans, pays checks, and performs related services for the public. All Florida banks are required to have Federal Deposit Insurance Corporation (FDIC) insurance.
Credit Unions
Credit Unions: a not-for-profit financial cooperative that makes personal loans and offers other consumer banking services to persons sharing a common bond. Common bonds typically include employees of a company, a labor union, a religious group or geographic area. All Florida credit unions are required to have National Credit Union Share Insurance Fund (NCUSIF) insurance offered by the National Credit Union Administration (NCUA).
International Bank and Trust Company Offices
International Bank Office: offices of foreign (non-United States) banks operating in the United States. In Florida, the Office of Financial Regulation can authorize a foreign bank to operate an administrative office, representative office, agency office or branch office in this state. Various levels of authorized powers/ activities are permitted for each type of office.
International Trust Company Representative Offices: representative offices of foreign trust companies operating in the United States. In Florida, the Office of Financial Regulation can authorize a foreign trust company to operate a representative office in this state.
Qualified Limited Service Affiliates: person or entity performing certain functions related to or for the benefit of an affiliated foreign trust entity.
Non-Deposit Trust Companies
Non-Deposit Trust Company: a corporation which is engaged as a trustee, fiduciary, or agent for individuals or businesses in the administration of trust funds, estates, custodial arrangements, stock transfer and registration, and other related services. Non-deposit trust companies may also engage in fiduciary investment management functions and estate planning.
