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 |
|---|---|---|
| Nov 1, 1991 | Progressive Federal Savings Bank | Progressive Ozark Bank |
| Nov 1, 1991 | First State Bank of Lyman | The Equality State Bank |
| Nov 1, 1991 | News Corporation Employees Credit Union | Postal & Community Credit Union |
| Oct 31, 1991 | Olin Employees Credit Union of Joliet | Tech Credit Union |
| Oct 31, 1991 | Kemba Little Rock Credit Union | Kemba Delta Federal Credit Union |
| Oct 30, 1991 | Indian Head Mortgage Corp. | Fleet Bank-NH |
| Oct 30, 1991 | Fleet/Norstar Services-NH, Corporation | Fleet Bank-NH |
| Oct 30, 1991 | Indian Head Bank Services Corporation | Fleet Bank-NH |
| Oct 30, 1991 | Jeffrey Employees Credit Union, Inc. | Wright-Patt Credit Union, Inc. |
| Oct 28, 1991 | FirstBank of Minturn | FirstBank of Vail |
| Oct 28, 1991 | Manufacturers Bank of Lansing | Manufacturers Bank, National Association |
| Oct 28, 1991 | FirstBank of Beaver Creek, National Association | FirstBank of Avon |
| Oct 28, 1991 | Manufacturers National Bank of Grand Rapids | Manufacturers Bank, National Association |
| Oct 28, 1991 | Ponce Metropolitan Federal Credit Union | Borinquen Sur Federal Credit Union |
| Oct 28, 1991 | FirstBank of West Vail | FirstBank of Vail |
| Oct 28, 1991 | United Illinois Bank of New Athens | Central Bank |
| Oct 26, 1991 | Century Bank at Broadway | Century Bank |
| Oct 26, 1991 | Callaway Gardens Credit Association Credit Union | Five Star Credit Union |
| Oct 26, 1991 | Heritage Bank of Oak Lawn | Heritage Bank |
| Oct 26, 1991 | Heritage Bank Crestwood | Heritage Bank |
| Oct 26, 1991 | Columbia National Bank-Belmont | Columbia National Bank of Chicago |
| Oct 26, 1991 | (unnamed) | Heritage Bank |
| Oct 25, 1991 | Sioux Quality Credit Union | Telco Triad Community Credit Union |
| Oct 24, 1991 | BayBank First Easthampton, N.A. | BayBank, National Association |
| Oct 24, 1991 | BayBank Harvard Trust Company | BayBank, National Association |
| Oct 24, 1991 | BayBank South | BayBank, National Association |
| Oct 24, 1991 | BayBank Valley Trust Company | BayBank, National Association |
| Oct 23, 1991 | Americorp, Inc. | Ameribank Corporation |
| Oct 23, 1991 | Randolph County FS&LA | First State Bank & Trust Company |
| Oct 21, 1991 | MCS Employees Credit Union, Inc. | The Ohio Educational Credit Union, Inc. |
| Oct 19, 1991 | Hannibal Mutual Loan and Building Association | Roosevelt Bank |
| Oct 18, 1991 | Boatmen's National Bank of Richmond | Boatmen's River Valley Bank |
| Oct 18, 1991 | Exchange Bank of Schmidt & Koester | Gold Bank |
| Oct 12, 1991 | First Community Industrial Bank of Lakewood | First Community Industrial Bank |
| Oct 12, 1991 | First Community Industrial Bank | First Community Industrial Bank |
| Oct 12, 1991 | American Industrial Bank of Aurora | First Community Industrial Bank |
| Oct 12, 1991 | The State Bank of Kirkland | The Belvidere National Bank and Trust Company |
| Oct 12, 1991 | U.S. Shoe Employees Federal Credit Union | Members Trust Federal Credit Union |
| Oct 12, 1991 | First Community Industrial Bank of Longmont | First Community Industrial Bank |
| Oct 12, 1991 | American Industrial Bank of Arvada | First Community Industrial Bank |
| Oct 12, 1991 | First Community Industrial Bank of Littleton | First Community Industrial Bank |
| Oct 12, 1991 | American Industrial Bank of Lakewood | First Community Industrial Bank |
| Oct 12, 1991 | First Community Industrial Bank of Fort Collins | First Community Industrial Bank |
| Oct 11, 1991 | First National Bank | Team Bank |
| Oct 10, 1991 | Bank of Speedwell, Inc. | Premier Bank-South, National Association |
| Oct 9, 1991 | Milton Tri-County Bank | Huntington Bank Huntington National Association |
| Oct 8, 1991 | Scott Methodist Credit Union | Credit Union One |
| Oct 7, 1991 | Basf Fibers Employees Federal Credit Union | 1st Advantage Federal Credit Union |
| Oct 7, 1991 | Widmer Bancshares, Inc. | Widmer Bancshares, Inc. |
| Oct 5, 1991 | Bank of San Clemente | Eldorado Bank |
The list holds 500 of the 953 mergers recorded for 1991.
Enforcement Actions in 1991
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Jul 17, 1991 | OCC | The First National Bank of Wakefield | Civil Money Penalty (CMP): Ringsmuth, Joseph D. |
| Jul 17, 1991 | OCC | First National Bank of Stamford | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank Of Stamford |
| Jul 17, 1991 | OCC | Southwest National Bank | Civil Money Penalty (CMP): Hines, Frank L. |
| Jul 17, 1991 | OCC | The First National Bank of Wakefield | Civil Money Penalty (CMP): Knaack, William A. |
| Jul 17, 1991 | OCC | The First National Bank of Wakefield | Civil Money Penalty (CMP): Arnestad, Leo C. |
| Jul 16, 1991 | OCC_OTS | NCB Savings Association | Supervisory Agreement: NCB Savings Association |
| Jul 16, 1991 | OCC | Columbia National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Columbia National Bank |
| Jul 16, 1991 | OCC | Metropolitan Bank N.A. | Formal Agreement: Metropolitan Bank, N.A. |
| Jul 15, 1991 | OCC_OTS | (individual) | Supervisory Agreement: Monroe Federal Svings and Loan Association |
| Jul 15, 1991 | OCC_OTS | First Federal Savings Bank of Proviso Township | Civil Money Penalty: Monroe R. Passis |
| Jul 15, 1991 | OCC_OTS | First Federal Savings Bank of Proviso Township | Civil Money Penalty: Eugene A. Rydz |
| Jul 15, 1991 | OCC_OTS | First Federal Savings Bank of Proviso Township | Civil Money Penalty: Harry J. Wright |
| Jul 15, 1991 | OCC_OTS | First Federal Savings Bank of Proviso Township | Civil Money Penalty: Irving Braun |
| Jul 15, 1991 | OCC_OTS | First Federal Savings Bank of Proviso Township | Civil Money Penalty: Martin W. Sheade |
| Jul 15, 1991 | OCC | The First National Bank of Mesquite | Prohibition/Removal Orders: Gilley, Harold P. |
| Jul 15, 1991 | OCC_OTS | Security Savings and Loan Association | Supervisory Agreement: Security Savings and Loan Association |
| Jul 15, 1991 | OCC_OTS | First Federal Savings Bank of Proviso Township | Civil Money Penalty: Charles F. Sebastian |
| Jul 14, 1991 | OCC_OTS | Bank of Stockdale, F.S.B. | Supervisory Agreement: Bank of Stockdale, F.S.B. |
| Jul 12, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Ghaith Pharaon |
| Jul 12, 1991 | OCC_OTS | First Savings Corporation | Supervisory Agreement: First Federal Savings and Loan Association of Bloomington |
| Jul 12, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Swaleh Naqvi |
| Jul 12, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Kemal Shoaib |
| Jul 12, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Agha Hasan Abedi |
| Jul 11, 1991 | OCC | First National Bank in West Union | Civil Money Penalty (CMP): Stinespring, Charles |
| Jul 11, 1991 | OCC | PiBank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Banco Pedroso, National Association |
| Jul 11, 1991 | OCC | First National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank And Trust Company … |
| Jul 11, 1991 | OCC | First National Bank in West Union | Civil Money Penalty (CMP): Helmick, James |
| Jul 11, 1991 | OCC | First National Bank in West Union | Civil Money Penalty (CMP): Spencer, Hugh |
| Jul 11, 1991 | OCC | First National Bank in West Union | Civil Money Penalty (CMP): Spencer, Ronald |
| Jul 11, 1991 | OCC | Franklin National Bank of Virginia | Formal Agreement: Franklin National Bank of Virginia |
| Jul 11, 1991 | OCC | First National Bank of Cedar Hill | Prohibition/Removal Orders: Bass, John |
| Jul 10, 1991 | OCC | CCNB Bank, N.A. | Formal Agreement: Ccnb Bank, N.A. |
| Jul 10, 1991 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Cease and Desist: Ray L. Morrow |
| Jul 10, 1991 | OCC_OTS | Davy Crockett Federal Savings Bank | Cease and Desist: Ray L. Morrow |
| Jul 10, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Ray L. Morrow |
| Jul 10, 1991 | OCC_OTS | The Harrison Building and Loan Association | Supervisory Agreement: The Crestline Building and Loan Association |
| Jul 9, 1991 | OCC | The Financial Center Bank, N.A. | Formal Agreement: The Financial Center Bank, N.A. |
| Jul 9, 1991 | OCC | Resourcebank, N.A. | Civil Money Penalty (CMP): Atlas, Sidney F. |
| Jul 9, 1991 | OCC | South Side National Bank in St. Louis | Formal Agreement: South Side National Bank In St. Louis |
| Jul 9, 1991 | OCC | The First National Bank of Belden | Formal Agreement: The First National Bank Of Belden |
| Jul 9, 1991 | OCC | First National Bank of Dayton | Prohibition/Removal Orders: Rankin, Travis |
| Jul 9, 1991 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Orders of Removal/Prohibition: Joe E. Griffith |
| Jul 9, 1991 | OCC_OTS | Investors Federal Bank and Savings Association | Supervisory Agreement: Investors Federal Bank and Savings Association |
| Jul 9, 1991 | OCC_OTS | Coral Coast Federal Savings Bank | Cease and Desist: Coral Coast Savings Bank, FSB |
| Jul 9, 1991 | OCC_OTS | (individual) | Civil Money Penalty: First Federal Savings and Loan Association of Indiana |
| Jul 9, 1991 | OCC_OTS | (individual) | Civil Money Penalty: Firstsouth Savings Association |
| Jul 8, 1991 | OCC | First National Bank | Civil Money Penalty (CMP): McCaslin, Henry |
| Jul 8, 1991 | OCC_OTS | Gateway Federal Corporation | Orders of Removal/Prohibition: Robert McLaughlin |
| Jul 8, 1991 | OCC_OTS | Gold River Savings Bank | Orders of Removal/Prohibition: Ronald W. Stoddard |
| Jul 8, 1991 | OCC_OTS | Gold River Savings Bank | Orders of Removal/Prohibition: Ronald W. Stoddard |
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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