### Question
How does FEDERAL DEPOSIT INSURANCE CORPORATION define mutual savings bank?


### Answer
Under *12 U.S.C. § 1813*, **mutual savings bank** is defined as:

> a bank without capital stock transacting a savings bank business, the net earnings of which inure wholly to the benefit of its depositors after payment of obligations for any advances by its organizers

#### Citation:
  - *12 U.S.C. § 1813*
  - Heading: **CHAPTER 16-FEDERAL DEPOSIT INSURANCE CORPORATION**

