We recently went through a merger/acquisition where both banks used either NAISC code or SIC code to identify business type. The acquiring bank uses SIC codes so it appears as though they would like to stay with these. However, I have two questions:

(1) Is there anywhere guidance as to which code should be used?

(2) If SIC codes, can be used, I have found different codes depending on website so which ones should be used? I have found codes issued by the US Census Bureau and ones issued by the US Dept of Labor.

Please help.

I believe the new standard is the NAICS code, found here http://www.census.gov/naics/2007/NAICOD07.HTM

I understand Pizza is correct

You can use this site to seach SIC codes: http://www.osha.gov/pls/imis/sicsearch.html

Thsi is how they are grouped: http://www.osha.gov/pls/imis/sic_manual.html

My bank uses SIC codes right now, but I think the plan is to move to NAICS in the future.