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Charles Schwab Corp. is well known as the premier discount broker in the U.S., but some may not realize that it’s actually a savings and loan holding company.
Schwab’s SCHW main banking subsidiary is Charles Schwab Bank SSB, an insured depository institution based in Westlake, Texas. The bank had $349 billion in total assets as of Dec. 31, while Charles Schwab Corp. had $552 billion in total assets.
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