The term 'Oil Patch' refers to states in the United States that produce and refine significant amounts of oil and natural gas. Key states include Texas, Oklahoma, Louisiana, California, and Alaska. Economists often refer to Oil Patch states when assessing the impact of oil price fluctuations on the regional economy.
A regional bank specializes in collecting deposits and making loans within a specific region of the country, differentiating it from money center banks which operate on a national and international level.
