qwaletee wrote:Not quite. Interstate banking was prohibited. But there was nothing preventing a Texas-based bank form having many in-state branches. Chase's network in Texas came about because of the buyout of Texas Commerce, shortly after the repeal of the rule. Texas Commerce had an extensive branch network for many years, making it an attractive target as soon as the restriction was lifted.
Actually they were not branches. Each bank by law was a standalone bank. Many were "associated" with each other and had the same name, but no branches. They were each separate corporate entities. It was a pain not being able to make a deposit except at "your" bank when there was one with the same name nearby. For awhile even ATMs were "branches" but that went away first. When I first moved to Texas from Louisiana I was really confused by the no branch banks when I had had accounts at big Louisiana banks and could make deposits and such at any one branch not just the one where I opened the account.