Non-bank subsidiaries, are firms owned by bank holding companies which offer non-bank products and services, such as insurance

Insurance

In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...

 and investment

Investment

Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...

 advice, and do not offer Federal Deposit Insurance Corporation

Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...

 insured banking products, such as checking and savings

Savings account

Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return...

 accounts. Such companies customarily use the term "banc" to define themselves—denoting that while being associated with a bank

Bank

A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...

 or holding company, they do not offer bank services.

A prominent example is the bank holding company Bank of America Corporation, whose bank subsidiary, Bank of America, N.A., offers bank services and products, while such non-bank subsidiaries as Banc of America Investment Services, Inc. and Banc of America Securities

Banc of America Securities

Banc of America Securities LLC , based in New York City, was an investment banking subsidiary of Bank of America. The firm competed in both the domestic and international equity and investment banking markets, and pursued a strategy pioneered by Citigroup that combines corporate lending with...

, as well as Banc of America Insurance Services, Inc., offer investment, insurance, and equities services under the Bank of America

Bank of America

Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...

name.