  We show that the binomial states (BS) of Stoler {\it et al.} admit the ladder
and displacement operator formalism. By generalizing the ladder operator
formalism we propose an eigenvalue equation which possesses the number and the
squeezed states as its limiting solutions. The explicit forms of the solutions,
to be referred to as the {\it generalized binomial states} (GBS), are given.
Corresponding to the wide range of the eigenvalue spectrum these GBS have as
widely different properties. Their limits to number and {\it squeezed} states
are investigated in detail. The time evolution of BS is obtained as a special
case of the approach.
