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 |
|---|---|---|
| Aug 14, 1991 | Theatre Crafts Federal Credit Union | Texas Federal Credit Union |
| Aug 9, 1991 | The Green Mountain Bank | Green Mountain Bank |
| Aug 9, 1991 | First Twin-State Bank | Green Mountain Bank |
| Aug 7, 1991 | Three Cities Bancorp, Inc. | FB Corporation |
| Aug 7, 1991 | Third Illinois Bancorp, Inc. | First Bank |
| Aug 7, 1991 | Second Illinois Bancorp, Inc. | FB Corporation |
| Aug 7, 1991 | C-Bancorp, Inc. | FB Corporation |
| Aug 2, 1991 | First American Bank | First American Bank |
| Aug 2, 1991 | First American Bank | First American Bank |
| Aug 2, 1991 | First American Bank | First American Bank |
| Aug 2, 1991 | First American Bank | First American Bank |
| Aug 1, 1991 | First Wisconsin National Bank of Brookfield | Firstar Bank Milwaukee, National Association |
| Aug 1, 1991 | Mesa National Bank - Patterson | Mesa National Bank |
| Aug 1, 1991 | Mesa National Bank - Rifle | Mesa National Bank |
| Aug 1, 1991 | Mesa National Bank - Clifton | Mesa National Bank |
| Aug 1, 1991 | Mesa National Bank - Glenwood Springs | Mesa National Bank |
| Aug 1, 1991 | Mesa National Bank - Montrose | Mesa National Bank |
| Aug 1, 1991 | American National Bank of Lisle | American National Bank and Trust Company of Chicago |
| Aug 1, 1991 | First Schiller Bancorp, Inc. | American National Corporation |
| Aug 1, 1991 | State Exchange Finance Company | NCB Corp. |
| Aug 1, 1991 | Joanna Western Mills Employees Credit Union | Archer Heights Credit Union |
| Aug 1, 1991 | Centreville Catholic Federal Credit Union | Catholic and Community Credit Union |
| Aug 1, 1991 | Japanese School Credit Union | Jacom Credit Union |
| Aug 1, 1991 | Promenade National Bank | Compass Bank-Dallas |
| Aug 1, 1991 | Vancouver Federal Savings Bank | Washington Mutual, a Federal Savings Bank |
| Aug 1, 1991 | Citizens National Bank, Flushing - St. Clairsville | Columbus National Bank |
| Aug 1, 1991 | Strohs Employees Credit Union | Ideal Credit Union |
| Aug 1, 1991 | San Diego Building Trade Federal Credit Union | Banc of California, National Association |
| Aug 1, 1991 | Valley Postal Credit Union | Security First Federal Credit Union |
| Aug 1, 1991 | Rice Lake Credit Union | Royal Credit Union |
| Aug 1, 1991 | Aae Federal Credit Union | Ufcw Community Federal Credit Union |
| Aug 1, 1991 | Youngstown Transit Employees Federal Credit Union | Seven Seventeen Credit Union Inc |
| Aug 1, 1991 | Community Service Credit Union Incorporated | Navy Federal Credit Union |
| Aug 1, 1991 | Brenton Bank and Trust Company | Brenton Bank |
| Aug 1, 1991 | U.S.E.S. Credit Union of New Orleans | Les Federal Credit Union |
| Aug 1, 1991 | M&I Bank of Hilldale | M&I Bank of Southern Wisconsin |
| Aug 1, 1991 | Peoples First National Bank of North Miami Beach | Union Planters Bank of Florida |
| Aug 1, 1991 | First Federal Savings and Loan Association | Western Security Bank |
| Aug 1, 1991 | Nage/Dcasd Federal Credit Union | East Hartford Federal Credit Union |
| Aug 1, 1991 | McArthur Dairy Empl Fcu | Tropical Financial Credit Union |
| Jul 31, 1991 | First United Bancorp, Inc. | First Merchants Corporation |
| Jul 31, 1991 | Portland Naacp Federal Credit Union | Point West Credit Union |
| Jul 31, 1991 | Cambar Federal Credit Union | South Carolina Federal Credit Union |
| Jul 31, 1991 | Sylvania Titusville Federal Credit Union | Community Connect Federal Credit Union |
| Jul 31, 1991 | Preston Bancshares, Inc. | Chadwick Bancshares, Inc. |
| Jul 31, 1991 | Nora Springs Investment Company | Cedar Valley Bankshares, Ltd. |
| Jul 31, 1991 | Riceville Investment Company | Cedar Valley Bankshares, Ltd. |
| Jul 29, 1991 | The Valley Bank of El Paso | State National Bank |
| Jul 29, 1991 | Holy Name Hospital Federal Credit Union | Greater Alliance Federal Credit Union |
| Jul 29, 1991 | Saint Louis Computer Center, Inc. D/b/a/ First Data | C-Bancorp, Inc. |
The list holds 500 of the 953 mergers recorded for 1991.
Enforcement Actions in 1991
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Jul 29, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Kemal Shoaib |
| Jul 29, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Kamal Adham |
| Jul 29, 1991 | OCC_OTS | (individual) | Cease and Desist: Athens Federal Saving and Loan Association |
| Jul 29, 1991 | OCC_OTS | Gateway Federal Savings Bank | Cease and Desist: Gateway Federal Savings Bank |
| Jul 29, 1991 | OCC_OTS | Merit Savings Association | Cease and Desist: Merit Savings Association |
| Jul 29, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Hasan Mahmood Kazmi |
| Jul 29, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Agha Hasan Abedi |
| Jul 26, 1991 | OCC | National Mercantile Capital Trust I | Formal Agreement: Mercantile National Bank |
| Jul 26, 1991 | OCC_OTS | Mid-Central Federal Savings Bank | Orders of Removal/Prohibition: Jerry G. Anderson |
| Jul 26, 1991 | OCC | Corinth Deposit National Bank | Civil Money Penalty (CMP): Richie, Linda J. |
| Jul 25, 1991 | OCC_OTS | First Federal Savings Bank | Cease and Desist: First Federal Savings Bank |
| Jul 25, 1991 | OCC | Citizens National Bank | Prohibition/Removal Orders: Simpson, William |
| Jul 25, 1991 | OCC | Citizens National Bank | Prohibition/Removal Orders: Simpson, Martha |
| Jul 25, 1991 | OCC | First-Nichols National Bank of Kenedy | Formal Agreement: First-Nichols National Bank |
| Jul 25, 1991 | OCC | The First National Bank of Hooker | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank Of Hooker |
| Jul 25, 1991 | OCC_OTS | First Federal Savings Bank | Civil Money Penalty: John G. Howard |
| Jul 24, 1991 | OCC_OTS | Workingmens Savings and Loan Association | Supervisory Agreement: Workingmens Savings and Loan Association |
| Jul 24, 1991 | OCC | (individual) | Formal Agreement: Foxboro National Bank |
| Jul 23, 1991 | OCC_OTS | First Security Savings Bank, FSB | Supervisory Agreement: First Security Savings Bank, FSB |
| Jul 23, 1991 | OCC_OTS | The Cumberland Federal Bancorporation, Inc. | Capital Directives: The Cumberland Federal Svings BAnk |
| Jul 23, 1991 | OCC_OTS | Guthrie Savings and Loan Association | Supervisory Agreement: Guthrie Savings and Loan Association |
| Jul 23, 1991 | OCC | Midlantic National Bank/North | Formal Agreement: Midlantic National Bank/North |
| Jul 23, 1991 | OCC | The Citizens National Bank and Trust Company, El Reno, Oklahoma | Formal Agreement: The Citizens National Bank and Trust Company, El Reno, Oklahoma |
| Jul 22, 1991 | FRB | Community National Bancorp, Inc | Civil Money Penalty $7,500: Community National Bancorp, Inc., Staten Island, NY |
| Jul 22, 1991 | FRB | Community National Bancorp, Inc | Cease and Desist Order: Community National Bancorp, Inc., Staten Island, NY |
| Jul 22, 1991 | OCC_OTS | Dona Ana Savings and Loan Association Incorporated | Cease and Desist: Dona Ana Savings and Loan Association |
| Jul 22, 1991 | OCC_OTS | Leader Federal Bank for Savings | Supervisory Agreement: Leader Federal Bank for Savings |
| Jul 22, 1991 | OCC | PNC Bank, N.A. | Formal Agreement: Midlantic National Bank |
| Jul 22, 1991 | FRB | Banco Del Pichincha Limited | Prohibition from Banking: Jose Valle |
| Jul 19, 1991 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Cease and Desist: Murdoch Frank ("Dick") Murchison |
| Jul 19, 1991 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Orders of Removal/Prohibition: Murdoch Frank ("Dick") Murchison |
| Jul 19, 1991 | OCC_OTS | (individual) | Decision/Opinion and Order: Ponce Federal Bank, FSB |
| Jul 19, 1991 | OCC_OTS | First Commercial Savings Bank | Civil Money Penalty: William Hamilton |
| Jul 19, 1991 | OCC_OTS | First Commercial Savings Bank | Civil Money Penalty: Philip Easton |
| Jul 19, 1991 | OCC_OTS | First Commercial Savings Bank | Civil Money Penalty: Mary Lou Johnson |
| Jul 19, 1991 | OCC_OTS | First Commercial Savings Bank | Civil Money Penalty: Kenneth O. Bridges |
| Jul 19, 1991 | OCC_OTS | First Commercial Savings Bank | Civil Money Penalty: John Harris |
| Jul 19, 1991 | OCC_OTS | First Commercial Savings Bank | Civil Money Penalty: Jane Lewis |
| Jul 19, 1991 | OCC_OTS | First Commercial Savings Bank | Civil Money Penalty: Ike Williams |
| Jul 19, 1991 | OCC_OTS | First Commercial Savings Bank | Civil Money Penalty: Gilbert C. Gibson |
| Jul 19, 1991 | OCC_OTS | First Commercial Savings Bank | Civil Money Penalty: G. Carl Gibson, Jr. |
| Jul 19, 1991 | OCC_OTS | First Commercial Savings Bank | Civil Money Penalty: First Commercial Bank SSB |
| Jul 19, 1991 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Cease and Desist: Susan Bass |
| Jul 19, 1991 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Cease and Desist: Murdoch Frank ("Dick") Murchison |
| Jul 19, 1991 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Cease and Desist: Frances Avery |
| Jul 19, 1991 | OCC_OTS | First Commercial Savings Bank | Cease and Desist: First Commercial Bank, SSB |
| Jul 18, 1991 | OCC | Plaza National Bank | Formal Agreement: Plaza National Bank |
| Jul 18, 1991 | OCC | BayBank Connecticut, National Association | Formal Agreement: Baybank Connecticut,, N.A. |
| Jul 17, 1991 | OCC | First National Bank of Luverne | Formal Agreement: First National Bank In Garretson |
| Jul 17, 1991 | OCC | The First National Bank of Wakefield | Civil Money Penalty (CMP): Ringsmuth, Joseph F. |
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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