Calendar Year
1991 in US Banking
2,251 bank events are on record for 1991: 268 failures, 953 mergers or acquisitions involving a bank, credit union or bank holding company, and 1,027 enforcement actions.
268
Failures
$143.44B in failed assets
953
Mergers
Federal Reserve NIC, banking organizations
1,027
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings
3
Assistance
FDIC open-bank assistance
Jump to: Bank failures 1991 · Bank mergers 1991
How many banks failed in 1991?
268 banks failed in 1991, with $143.44B in assets. Each failure below links to its own page.
| Date | Bank | Assets |
|---|---|---|
| Jan 25, 1991 | Alvarado Bank | $33.5M |
| Jan 25, 1991 | Coral S & La | $32.2M |
| Jan 24, 1991 | Metropolitan National Bank | $97.3M |
| Jan 22, 1991 | American Bank, N.A. | $20.7M |
| Jan 18, 1991 | Irving Savings & Loan | $222.5M |
| Jan 18, 1991 | Beach Federal Savings Assoc. | $81.8M |
| Jan 11, 1991 | Far West Savings & Loan | $3.71B |
| Jan 11, 1991 | Malibu SB | $139.1M |
| Jan 11, 1991 | Community National Bank | $85.4M |
| Jan 11, 1991 | Connecticut Savings and Loan | $17.4M |
| Jan 6, 1991 | Bank of New England, National Assoc | $13.43B |
| Jan 6, 1991 | The Connecticut Bank & Trust Co | $7.21B |
| Jan 6, 1991 | Maine National Bank | $1.05B |
| Jan 4, 1991 | First FS & La of Pittsburg | $3.09B |
| Jan 4, 1991 | Fulton Federal Savings Bank | $2.02B |
| Jan 4, 1991 | First Federal Savings & Loan | $638.6M |
| Jan 4, 1991 | Trident Federal S & L Assoc. | $47.2M |
| Jan 4, 1991 | Royal Oak FS & La | $27.3M |
Which banks merged in 1991?
953 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1991.
See the fuller list: Bank mergers 1991 with largest deals and credit union mergers ›
| Date | Acquired | Acquirer |
|---|---|---|
| Sep 5, 1991 | Strother Drug Employees Credit Union | Beacon Credit Union Incorporated |
| Sep 4, 1991 | First Federal Savings and Loan Association of Idaho Falls | WaFd Bank |
| Sep 3, 1991 | Star Bank, National Association | U.S. Bank N.A. |
| Sep 3, 1991 | Star Bank, National Association, Butler County | U.S. Bank N.A. |
| Sep 3, 1991 | Postal Credit Union | First Financial Credit Union |
| Sep 1, 1991 | Diversified Federal Credit Union | Logix Federal Credit Union |
| Sep 1, 1991 | Bank One, Franklin | Bank One, Indiana, National Association |
| Sep 1, 1991 | Keyes Fibre Hammond Employees Federal Credit Union | Regional Federal Credit Union |
| Sep 1, 1991 | Valley Fidelity Bank and Trust Company | First Horizon Bank |
| Sep 1, 1991 | HBD Empl Fcu | Clinchfield Federal Credit Union |
| Sep 1, 1991 | First of America Bank-Wayne | First of America Bank-Ann Arbor |
| Sep 1, 1991 | Mohawk Valley Federal Savings Bank | United Northern Federal Savings Bank |
| Sep 1, 1991 | McGuire Federal Credit Union | Andrews Federal Credit Union |
| Sep 1, 1991 | The Bank of New Mexico, las vegas | The Bank of New Mexico |
| Sep 1, 1991 | McCulloch Federal Credit Union | La Financial Federal Credit Union |
| Sep 1, 1991 | Saint Augustine Parish Federal Credit Union | Iron Workers Federal Credit Union |
| Sep 1, 1991 | SMCRC Credit Union | Excel Federal Credit Union |
| Sep 1, 1991 | 1st Ambanc, Inc. | Commercesouth, Inc. |
| Sep 1, 1991 | The C-M Company, Inc | First Medicine Lodge Bancshares, Inc. |
| Sep 1, 1991 | Fpe Fcu | Gte Federal Credit Union dba Gte Financial |
| Sep 1, 1991 | Capitol Credit Union | Arkansas Federal Credit Union |
| Sep 1, 1991 | The State Bank of Salem | INB Banking Company |
| Sep 1, 1991 | The Isabel State Bank | Solutionsbank |
| Sep 1, 1991 | Central Soo Credit Union | Royal Credit Union |
| Aug 31, 1991 | Marquette Bank Apple Valley | Marquette Bank Minneapolis, National Association |
| Aug 31, 1991 | U.S. Trust Company of Texas | U.S. Trust Company of Texas, National Association |
| Aug 31, 1991 | Lakeshore Bank, N. A. | Bank One, Oklahoma City |
| Aug 31, 1991 | Beckley National Bank | Bank One, West Virginia, Beckley, National Association |
| Aug 31, 1991 | Merchants & Miners National Bank of Oak Hill | Bank One, West Virginia, Beckley, National Association |
| Aug 31, 1991 | State Bank of Firth, Inc. | Farmers State Bank |
| Aug 31, 1991 | Brown & Bigelow Employees Credit Union | Riverview Credit Union |
| Aug 31, 1991 | TN Grange Cu | First Choice Community Credit Union |
| Aug 31, 1991 | Kerns Empl Cu | First Choice Community Credit Union |
| Aug 31, 1991 | Southeast Cedar Rapids Community Credit Union | Collins Community Credit Union |
| Aug 30, 1991 | Arab Fcu | Redstone Federal Credit Union |
| Aug 27, 1991 | Ccta Federal Credit Union | First Financial of Maryland Federal Credit Union |
| Aug 26, 1991 | First Wisconsin Bank of Two Rivers | Firstar Bank Manitowoc |
| Aug 26, 1991 | Citgo Federal Credit Union | Energy One Federal Credit Union |
| Aug 24, 1991 | Shidler Bancshares, Inc. | Security Bank & Trust Company of Ponca City, Oklahoma |
| Aug 24, 1991 | Community Bank | Security Bank & Trust Company of Ponca City, Oklahoma |
| Aug 24, 1991 | Lamar Industrial Bank | Frontier Bank |
| Aug 23, 1991 | Parish National Bank of St. Tammany | Parish National Bank |
| Aug 22, 1991 | Letchworth Ag Credit Corporation | Letchworth Independent Bancshares Corporation |
| Aug 21, 1991 | CB Bancshares, Inc. | Synovus Financial Corp. |
| Aug 19, 1991 | The Capital National Bank in Austin | Norwest Bank Texas, Austin, National Association |
| Aug 19, 1991 | Havana Bancshares, Inc. | FB Corporation |
| Aug 19, 1991 | Home Savings Bank, S.A. | TCF National Bank Wisconsin |
| Aug 19, 1991 | Electricians of 25 Federal Credit Union | Nassau Financial Federal Credit Union |
| Aug 17, 1991 | Farmers Exchange Bank | Fifth Third Bank, Kentucky, Inc. |
| Aug 15, 1991 | First Oak Brook Bank/Addison | 1st Oak Brook Bank |
The list holds 500 of the 953 mergers recorded for 1991.
Enforcement Actions in 1991
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Aug 12, 1991 | OCC_OTS | First Federal Savings and Loan Association of Alabama | Supervisory Agreement: First Federal Savings and Loan Association |
| Aug 9, 1991 | OCC_OTS | Benld Loan Association | Supervisory Agreement: Benld Loan Association |
| Aug 9, 1991 | OCC_OTS | Cross Roads Savings and Loan Association, F.A. | Orders of Removal/Prohibition: Gary Bryant Hobbs |
| Aug 9, 1991 | OCC_OTS | (individual) | Cease and Desist: New England Federal Savings Bank |
| Aug 9, 1991 | OCC_OTS | Anchor Savings and Loan Association | Supervisory Agreement: Anchor Savings and Loan Association |
| Aug 7, 1991 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Orders of Removal/Prohibition: Everett P. Ramsey III |
| Aug 7, 1991 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Civil Money Penalty: Everett P. Ramsey, III |
| Aug 7, 1991 | OCC_OTS | (individual) | Cease and Desist: Jon R. Baughman |
| Aug 6, 1991 | OCC | Northeast Bancshares, Inc. | Prohibition/Removal Orders: Arterburn, Morris |
| Aug 6, 1991 | OCC | Williamsburg National Bank | Formal Agreement: Williamsburg National Bank |
| Aug 6, 1991 | OCC | First National Bank in Las Vegas | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank In Las Vegas |
| Aug 6, 1991 | OCC_OTS | Home Federal Savings Bank | Supervisory Agreement: Home Federal Savings Bank |
| Aug 6, 1991 | OCC_OTS | Home Federal Savings Bank | Supervisory Agreement: Home Federal SAvings Bank |
| Aug 6, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Thomas G. Childress |
| Aug 6, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Jon R. Baughman |
| Aug 6, 1991 | OCC_OTS | (individual) | Civil Money Penalty: Thomas G. Childress |
| Aug 6, 1991 | OCC_OTS | (individual) | Cease and Desist: Thomas G. Childress |
| Aug 6, 1991 | OCC_OTS | Fidelity Federal Savings Bank | Cease and Desist: Fidelity Federal Savings Bank |
| Aug 6, 1991 | OCC_OTS | Charter Federal Savings and Loan Association | Cease and Desist: Charter Federal Savings and Loan Association |
| Aug 6, 1991 | OCC | Northeast Bancshares, Inc. | Prohibition/Removal Orders: Switzer, Steven |
| Aug 6, 1991 | OCC | Northeast National Bank | Prohibition/Removal Orders: Switzer, E. W. |
| Aug 6, 1991 | OCC | Corinth Deposit National Bank | Prohibition/Removal Orders: Richie, Linda J. |
| Aug 6, 1991 | OCC | Northeast Bancshares, Inc. | Prohibition/Removal Orders: Arterburn, Tony |
| Aug 5, 1991 | OCC | First Fidelity Trust, National Association, Florida | Civil Money Penalty (CMP): First Fidelity Trust, National Association, Florida |
| Aug 5, 1991 | OCC_OTS | Carthage Federal Savings and Loan Association | Cease and Desist: Carthage Federal SAvings and Loan Association |
| Aug 5, 1991 | OCC_OTS | (individual) | Cease and Desist: Northwestern Savings Bank, F.S.B. |
| Aug 2, 1991 | OCC | Memorial Bank, N.A. | Civil Money Penalty (CMP): Wiggins, Fred E. |
| Aug 2, 1991 | OCC_OTS | Tuskegee Savings and Loan Association, Federal Association | Orders of Removal/Prohibition: David F. Winston |
| Aug 2, 1991 | OCC_OTS | First Savings and Loan Association | Civil Money Penalty: First Home Savings Bank, S.L.A. |
| Aug 2, 1991 | OCC | National Bank of Commerce | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): National Bank Of Commerce |
| Aug 2, 1991 | OCC | Citizens National Bank | Civil Money Penalty (CMP): Simpson, Martha |
| Aug 2, 1991 | OCC | Citizens National Bank | Civil Money Penalty (CMP): Simpson, William A. |
| Aug 1, 1991 | OCC_OTS | County Savings Bank | Supervisory Agreement: County Savings Bank |
| Aug 1, 1991 | OCC_OTS | Firstate Financial, A Savings Bank | Cease and Desist: Firstate Financial, A Savings Bank |
| Aug 1, 1991 | OCC_OTS | First Federal Savings and Loan Association | Supervisory Agreement: First Missouri Federal Savings and Loan Association |
| Jul 31, 1991 | OCC_OTS | (individual) | Cease and Desist: C. James McCormick |
| Jul 31, 1991 | OCC | First National Bank in Osceola | Formal Agreement: First National Bank In Osceola |
| Jul 30, 1991 | OCC | Capital One, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Hibernia National Bank |
| Jul 30, 1991 | OCC_OTS | Republic Capital Funding Corp. I | Supervisory Agreement: Republic Capital Bank, F.S.B. |
| Jul 29, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Fasisal Saud Al-Fulaij |
| Jul 29, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: BCCI Holdings (Luxembourg) S.A. Luxembourg |
| Jul 29, 1991 | FRB | Bank of Credit and Commerce International S.A. | Notice of Intent: Bank of Credit and Commerce Inernational S.A. Luxembourg |
| Jul 29, 1991 | FRB | Bank of Credit and Commerce International Overseas Limited | Notice of Intent: Bank of Credit and Commerce International (Overseas) Limited, George Town, Cayman … |
| Jul 29, 1991 | FRB | International Credit & Investment Co. (Overseas) | Notice of Intent: International Credit and Investment Company (Overseas) Limited, George Town, Cayman Islands |
| Jul 29, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: A.R. Khalil |
| Jul 29, 1991 | OCC | Merchants National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Merchants National Bank |
| Jul 29, 1991 | OCC | New York National Bank | Formal Agreement: New York National Bank |
| Jul 29, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Swaleh Naqvi |
| Jul 29, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Sayed Jawhary |
| Jul 29, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Khusro Elley |
FDIC Open-Bank Assistance in 1991
| Date | Institution | Assets |
|---|---|---|
| Dec 4, 1991 | The Douglass Bank | $31.9M |
| Oct 2, 1991 | The Gunnison Bank & Trust Co. | $20.1M |
| Sep 16, 1991 | First Bank and Trust | $26.6M |
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