(1) Except as provided in subsection (2) of this section, a person doing business in this state shall not use the term "bank," "banker," "banking," "trust," or a similar term, which may include without limitation a character, ideogram, phonogram, phrase, or foreign language word, in its name, including any use of the name on stationery or marketing material or in solicitations or advertising, in a manner that would imply to the public that the person is engaged in the banking or trust business.
(2) A person may use a term prohibited by subsection (1) of this section if the person is authorized:
(a) Under its charter, or the laws of this state or the United States, to use the term in its name; and (b) By the laws of this state or the United States to conduct the activities in which it is engaged in this state.
(3) (a) The commissioner shall levy a civil penalty against any person that violates this section.
(b) The civil penalty shall be not less than one thousand dollars ($1,000) nor more than five thousand dollars ($5,000) per violation, plus the state's costs and expenses for the examination, investigation, and prosecution of the matter, including reasonable attorney's fees and court costs.