Commonwealth Bank UPDATED

Stock Yards Bank & Trust Co. is a wholly-owned subsidiary of Stock Yards Bancorp, Inc. (NASDAQ: SYBT), with company assets of approximately $8 billion, serving Louisville, Central and Eastern Kentucky, Indianapolis and Southern Indiana, and Cincinnati and Northern Kentucky markets. Founded in 1904, Stock Yards Bank has evolved from a small bank serving the Louisville livestock industry to a nationally recognized bank known for exceptional service and financial performance. Our capabilities align well with those of national banks, but our focus has always been on building a strong relationship with our customers.

Searching for the right bank takes time. You want a secure place to keep your money, and it helps to have options for an account to best suits your needs. With First Commonwealth Bank, we have the knowledge, expertise and resources you're looking for to set up personal and business banking accounts. Rely on our team to help you improve your financial confidence.

Commonwealth Bank

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Our professionals listen to your needs for personal banking in Ohio and Pennsylvania. Whether you're looking to open an interest-bearing checking account or interested in growing your savings, we can help.

Look to our experts for home mortgage advice. We love helping first-time homebuyers or those looking into investment properties and more. Apply for a competitive rate from a trusted Ohio and Pennsylvania bank. Keep reading.

At First Commonwealth Bank, we ensure you have total access to your personal or business banking accounts. Our Ohio and Pennsylvania customers are welcome to complete banking tasks online from any location.

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First Commonwealth Bank proudly offers top local banking solutions in our communities of Pennsylvania and Ohio, including banks in Altoona, Canton, Cincinnati, Columbus, Harrisburg, Indiana, Lancaster, Philadelphia, Pittsburgh, State College and Williamsport.

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Commonwealth Bank is the oldest cooperative bank in Boston, serving our community since 1886. At Commonwealth Bank we continue our tradition of outstanding service and commitment to our customers every day with our up-to-date, smart banking products and services.

Manage your finances whenever and wherever with Consumer/Small Business Online Banking from Commonwealth National Bank. Enjoy access to safe and secure online banking tools 24 hours a day, entirely for free.

Commonwealth National Bank currently manages depository relationships with several municipalities and municipal departments throughout Mobile and Baldwin Counties. This bank was established to serve the financial needs of our community, its businesses, and its citizens.

The Commonwealth Bank of Australia (CBA), or CommBank, is an Australian multinational bank with businesses across New Zealand, Asia, the United States, and the United Kingdom. It provides a variety of financial services, including retail, business and institutional banking, funds management, superannuation, insurance, investment, and broking services. The Commonwealth Bank is the largest Australian listed company on the Australian Securities Exchange as of August 2015, with brands including Bankwest, Colonial First State Investments, ASB Bank (New Zealand), Commonwealth Securities (CommSec) and Commonwealth Insurance (CommInsure).[3]Its former constituent parts were the Commonwealth Trading Bank of Australia, the Commonwealth Savings Bank of Australia, and the Commonwealth Development Bank.

Founded in 1911 by the Australian Government and fully privatised in 1996, the Commonwealth Bank is one of the "big four" Australian banks, with the National Australia Bank (NAB), ANZ and Westpac. The bank was listed on the Australian Stock Exchange on 12 Sep 1991.[4]

In 2018, findings from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry have indicated a negative culture within the bank, amid allegations of fraud, deception, and money laundering, among various other crimes.[6]

The Commonwealth Bank of Australia was established by the Commonwealth Bank Act 1911, introduced by the Andrew Fisher Labor government, which favoured bank nationalisation, with effect on 22 December 1911.[7][8] In a rare move for the time, the bank was to have both savings and general bank business. The bank was also the first bank in Australia to receive a federal government guarantee. The bank's earliest and most strenuous proponent was the flamboyant American-Australian Labor politician, King O'Malley, and its first governor was Sir Denison Miller.

The bank opened its first branch in Melbourne on 15 July 1912.[9] In an agreement with Australia Post that exists to this day, the bank also traded through post office agencies. In 1912, it took over the State Savings Bank of Tasmania, and by 1913 it had branches in all six states.

In 1920, the bank began acquiring central bank powers when it took over the responsibility for the issue of Australian bank notes from the Department of the Treasury.[10] Also in 1920, the Commonwealth Bank took over the Queensland Government Savings Bank.

In 1924, the federal government of Stanley Bruce sought to place further checks and limits on the powers of the governor of the bank, and passed the Commonwealth Bank Act, 1924, which created a seven-member Board of Directors comprising the governor, the Secretary of the Treasury, and six directors "actively engaged in agriculture, commerce, finance or industry", and a Chairman of the Board elected annual from its members.[11] The first six board members was appointed on 10 October 1924: Sir John Garvan, Sir Robert Gibson, Sir Samuel Hordern, Robert McComas, Richard Samuel Drummond, and John McKenzie Lees.[12][13] Garvan was appointed as the first chairman on 13 October 1924.[14]

In 1931, the bank board came into conflict with the Labor government of James Scullin. The bank's chairman Sir Robert Gibson refused to expand credit in response to the Great Depression, as had been proposed by Treasurer Edward Theodore unless the government cut pensions, which Scullin refused to do. The conflict surrounding this issue led to the fall of the government, and to demands from Labor for reform of the bank and more direct government control over monetary policy.

Also in 1931, it took over the savings bank business of the Government Savings Bank of New South Wales (est. 1871), the current account and fixed deposit business of the NSW Rural Bank Department, and the State Savings Bank of Western Australia (est. 1863).

In 1942, the Commonwealth Banking Corporation (CBC) suspended its operations in Papua New Guinea as the Imperial Japanese Army captured many of the towns in which it operated, and bombed Port Moresby. The bank resumed operations later, possibly in 1944.

The bank had many branches across Papua New Guinea including Port Moresby, Boroko, Rabaul, Lae, Wau, Bulolo, Goroka, Kavieng, Madang, Mount Hagen, Kundiawa, Popondetta, and Wewak. On Bougainville, there was Kieta, Panguna, Arawa and early on a part-time sub-branch at Loloho. It maintained those facilities to support trade, local business, government, and small savers.

The Commonwealth Bank received almost all central bank powers in emergency legislation passed during World War II and at the end of the war, it used this power to begin a dramatic expansion of the economy. This was also the aim of the federal government at the time, which attempted to compel the Australian states to conduct their banking with the Commonwealth under the Banking Act 1945 (Cth), but the High Court in Melbourne Corporation v Commonwealth (1947) 74 CLR 31, blocked this move.

In August 1945, the federal government of Ben Chifley passed the Commonwealth Bank Act, 1945, which repealed the 1925 act and abolished the Board of Directors, returning full executive control of the bank to the governor.[15]

The government also dramatically expanded immigration programs. In response, the bank established a Migrant Information Service (later known as the Australian Financial & Migrant Information Service, or AFMIS). The bank expanded during this period, and in just five years it opened hundreds of branches throughout Australia and in 1951 it established a branch in the Solomon Islands.

In 1958 and 1959, there was a controversy concerning the dual functions of the organization, operating as the central bank on the one hand and a commercial bank on the other. As a result, the government separated the two roles, creating the Reserve Bank of Australia to exercise the central bank function, and leaving the Commonwealth Banking Corporation to operate purely as a commercial bank. Those commercial functions were exercised by the organization's constituent sections: the Commonwealth Trading Bank of Australia, the Commonwealth Savings Bank of Australia, and the newly-formed Commonwealth Development Bank.

A new Commonwealth Development Bank was established in 1960 and during the 1970s the bank diversified its business into areas like insurance and travel. It established a finance company, CBFC in 1974. The bank also became more heavily involved in foreign currency trading and international banking in general. 2351a5e196