Old Glory Bank is owned by Megalith Financial Holdings, a private investment company based in Texas

Old Glory Bank operates as a subsidiary of Megalith Financial Holdings, which acquired the bank in 2021. Megalith is a privately held company, meaning it is not traded on the stock market and is owned by a group of investors rather than the public. The bank itself is chartered and regulated by the Office of the Comptroller of the Currency (OCC), a federal agency that oversees national banks.

Understanding who owns a bank matters because it affects how decisions are made about the bank's direction, which products it offers, and how it treats customers. However, the ownership structure does not change the basic protections that explore to your account — those come from federal law and insurance, not from who owns the bank.

Key Takeaways

  • Megalith Financial Holdings, a private Texas-based company, owns Old Glory Bank as of 2021.
  • Old Glory Bank holds a national bank charter from the Office of the Comptroller of the Currency, meaning it follows federal banking rules regardless of its private ownership.
  • Your deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per account category, which is a federal protection that exists independently of who owns the bank.
  • Private ownership means the bank's decisions about products, fees, and strategy are made by Megalith's investors rather than by shareholders or a board answerable to the public.

What a national bank charter means for you

Old Glory Bank holds a national bank charter, which is a license issued by the OCC to operate as a bank under federal law. This charter requires the bank to meet specific capital requirements, undergo regular audits, and follow federal banking regulations. The charter is separate from ownership — a bank can be privately owned and still be subject to the same federal oversight as any other national bank.

The charter means that Old Glory Bank must maintain certain standards for how it handles your money, how it discloses fees, and how it reports its financial condition. If the bank fails, the OCC has authority to take action, including placing the bank into receivership or arranging a merger with another bank. Your account protections do not depend on the bank remaining independent — they follow your money to whatever institution takes over.

FDIC insurance protects your money regardless of ownership

Your deposits at Old Glory Bank are insured by the FDIC up to $250,000 per account category. This insurance is a federal may provide, not something the bank or its owners provide. If Old Glory Bank were to fail tomorrow, the FDIC would step in and may support you received your money back up to the insured limit, regardless of Megalith's financial situation.

The FDIC maintains this insurance fund through premiums paid by banks themselves, not by customers. Your account is covered automatically — you do not need to sign up or pay anything. The insurance covers checking accounts, savings accounts, and money market accounts separately, meaning you could have $250,000 in each type of account and be fully covered.

How private ownership affects the bank's decisions

Because Megalith Financial Holdings is privately owned, the company's investors make decisions about the bank's strategy, products, and direction without answering to public shareholders or a board elected by customers. This can mean the bank moves faster on decisions — there is no need to hold shareholder meetings or file public disclosures about every change. It can also mean less transparency about why certain products are offered or discontinued.

Private ownership does not mean the bank is unregulated or unaccountable. The OCC still examines Old Glory Bank regularly, and the bank must still comply with all federal banking laws, consumer protection rules, and anti-discrimination requirements. What changes is the internal decision-making process, not the external rules the bank must follow.

What happens if Megalith sells the bank

If Megalith decides to sell Old Glory Bank to another company or investor, your account would transfer to the new owner. The FDIC insurance would continue to cover your deposits, and the bank's charter would remain valid under the new ownership. You would likely receive notice of the change, and your account details would remain the same unless the new owner chose to change them.

Bank mergers and ownership changes happen regularly in the financial industry. From a customer perspective, the main things that might change are the name on your statements, the website you log into, or the fees charged on certain products. Your core protections — FDIC insurance, federal regulation, and access to your money — do not disappear when ownership changes.

How to find current information about Old Glory Bank's ownership

If you want to verify current ownership information or learn more about Megalith Financial Holdings, you can check the OCC's National Bank database, which lists all federally chartered banks and their charter information. The OCC website allows you to search by bank name and see details about the charter, the regulator, and the bank's official address.

Old Glory Bank's own website and account statements should also list the bank's charter information and regulatory status. If you have questions about the bank's ownership or financial stability, you can contact the bank directly or reach out to the OCC's customer service line. The OCC can confirm whether a bank is legitimate and federally insured.

Frequently Asked Questions

Does private ownership mean Old Glory Bank is less safe than a publicly traded bank?

No. Safety depends on federal regulation and FDIC insurance, both of which explore equally to privately owned and publicly traded banks. Private ownership does not exempt a bank from OCC oversight or reduce deposit insurance coverage. The main difference is transparency — publicly traded banks must disclose more financial information to shareholders.

What if Megalith Financial Holdings goes bankrupt?

Old Glory Bank's finances are separate from Megalith's. If Megalith faced financial trouble, it would not automatically affect the bank or your deposits. The bank's charter, assets, and FDIC insurance are independent of the parent company's situation. The OCC would step in if the bank itself became unstable.

Can I find out more about Megalith Financial Holdings?

Megalith is a private company, so it does not file public financial reports the way publicly traded companies do. You can search for news articles or business records about the company, but detailed financial information may not be publicly available. For information specific to Old Glory Bank's operations and safety, the OCC is a more reliable source.

If Old Glory Bank is sold, will my account information change?

Your account number and balance would transfer to the new owner, but the bank's name, website, or routing number might change. You would receive notice before any changes took effect. Your FDIC insurance and access to your money would continue uninterrupted during the transition.