Definition of bank statement

form prepared by the bank and sent to the depositor to show transactions in the account. The bank statement reports the beginning balance, deposits made, checks cleared, charges to the account (e.g., bank service fees), credits to the account (e.g., interest earned on the account balance), and ending balance. Enclosed with the bank statement are the canceled checks, debit memoranda for charges, and credit memoranda for credits.

1. report of conditionfinancial statement disclosing a bank's income and condition of its balance sheet, filed quarterly with its primary regulator. These statements are also available on request for public inspection.
2. customer's account statement of deposits, withdrawals, transaction activity, and bank service charges, usually mailed monthly.
3. bank's statement of deposit accounts subject to reserve requirements, filed every other week with a Federal Reserve Bank.