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 |
|---|---|---|
| Oct 2, 1991 | Washburn Bancshares, Inc. | Alpha Financial Group, Inc. |
| Oct 1, 1991 | Alprodco Employees Credit Union | Peco Federal Credit Union |
| Oct 1, 1991 | The Northern Trust Company of Texas | Northern Trust Bank of Texas National Association |
| Oct 1, 1991 | Morgan Community Bancorp, Inc. | First of America Bancorporation-Illinois, Inc. |
| Oct 1, 1991 | Whitfield County Postal Employees Credit Union | Georgia United Credit Union |
| Oct 1, 1991 | Fresno Bee Credit Union | McClatchy Employees Credit Union |
| Oct 1, 1991 | Mellon Bank (North) National Association | BNY Mellon, N.A. |
| Oct 1, 1991 | Southern Missouri Bank | (unnamed) |
| Oct 1, 1991 | Mellon Bank (Central) N.A. | BNY Mellon, N.A. |
| Oct 1, 1991 | The Wellston State Bank | Stroud National Bank |
| Oct 1, 1991 | Lutheran General Federal Credit Union | Encurage Financial Network |
| Oct 1, 1991 | Bud-Jax Federal Credit Union | Coastline Federal Credit Union |
| Oct 1, 1991 | Occom Federal Credit Union | Service Federal Credit Union |
| Oct 1, 1991 | Cin-Tronics Employees Federal Credit Union | Emery Federal Credit Union |
| Oct 1, 1991 | Norstar Bank of Central NY | Fleet Bank |
| Oct 1, 1991 | Va Medical Center Federal Credit Union | Oklahoma Federal Credit Union |
| Oct 1, 1991 | Gaico Credit Union | Resource One Credit Union |
| Oct 1, 1991 | The First State Bank of New Rockford | Bank Forward |
| Oct 1, 1991 | Hillsborough CNTY Hosp Auth Empl Fcu | Grow Financial Federal Credit Union |
| Oct 1, 1991 | State Savings Bank | Lincoln Savings Bank |
| Oct 1, 1991 | Emprise Bank, National Association | Emprise Bank National Association |
| Oct 1, 1991 | Bithulithic Employees Credit Union | Relyon Credit Union |
| Oct 1, 1991 | K.C. Federal Credit Union | L&N Federal Credit Union |
| Oct 1, 1991 | The South Side Savings Bank, FSB | Liberty Savings Bank, F.S.B. |
| Oct 1, 1991 | Shelby Federal Savings Bank | First of America Bank-Indiana |
| Oct 1, 1991 | Horizon Savings Bank, S.A. | The Equitable Bank, S.S.B. |
| Oct 1, 1991 | Midlantic National Bank/North | (unnamed) |
| Oct 1, 1991 | Borax Employees Federal Credit Union | Logix Federal Credit Union |
| Oct 1, 1991 | Pdea Federal Credit Union | S.C. State Federal Credit Union |
| Oct 1, 1991 | 66 Credit Union | Blaze Credit Union |
| Oct 1, 1991 | Grandview Savings Association | Parkvale Savings Bank |
| Oct 1, 1991 | Sea Seven Federal Credit Union | Navy Federal Credit Union |
| Oct 1, 1991 | Plains Creamery Employees Credit Union | BNSF Credit Union |
| Oct 1, 1991 | Western Atlantic Credit Union | Advancial Federal Credit Union |
| Oct 1, 1991 | Gladstone Community Federal Credit Union | Great Lakes First Federal Credit Union |
| Oct 1, 1991 | Postal Credit Union of Galveston | Coastal Community Federal Credit Union |
| Oct 1, 1991 | K W Employees Federal Credit Union | Profed Federal Credit Union |
| Oct 1, 1991 | Pope Federal Credit Union | Pentagon Federal Credit Union |
| Oct 1, 1991 | Salt Workers Credit Union | Cyprus Federal Credit Union |
| Oct 1, 1991 | Strafford National Bank | Bank of New Hampshire, National Association |
| Oct 1, 1991 | Buckner Associates Credit Union | Lone Star Credit Union |
| Oct 1, 1991 | The Commonwealth National Bank | BNY Mellon, N.A. |
| Oct 1, 1991 | Park West State Bank | Southwest Bank |
| Oct 1, 1991 | BL&F Federal Credit Union | Pannonia Federal Credit Union |
| Oct 1, 1991 | Morgan County Community Bank | First of America Bank - Springfield, National Association |
| Oct 1, 1991 | The Suncook Bank | Bank of New Hampshire, National Association |
| Oct 1, 1991 | Union Pacific-Western Division Federal Credit Union | Sea West Coast Guard Federal Credit Union |
| Oct 1, 1991 | Hines Federal Credit Union | U.S. Employees Credit Union |
| Oct 1, 1991 | Northern Maine Credit Union | Norstate Federal Credit Union |
| Oct 1, 1991 | Farmers & Merchants Bank of Wimbledon | Bank Forward |
The list holds 500 of the 953 mergers recorded for 1991.
Enforcement Actions in 1991
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Jul 5, 1991 | OCC | The First National Bank of Hugo | Civil Money Penalty (CMP): Pearson, Robert |
| Jul 3, 1991 | FRB | Boca Bank | Written Agreement: Boca Bank, Boca Raton, FL |
| Jul 3, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Sherwin W. Easterling |
| Jul 3, 1991 | FRB | Southeast Banking Corporation | Written Agreement: Southeast Banking Corporation, Miami, FL |
| Jul 2, 1991 | OCC_OTS | First Federal Savings and Loan Association of Giles Co | Cease and Desist: First Federal Savings and Loan Association of Giles County |
| Jul 2, 1991 | OCC_OTS | (individual) | Supervisory Agreement: United Federal Savings Bank of Vincennee |
| Jul 2, 1991 | OCC_OTS | (individual) | Supervisory Agreement: First Gilbraltar Bank, FSB |
| Jul 1, 1991 | OCC_OTS | Kentucky Federal Savings and Loan Association | Supervisory Agreement: Kentucky Federal Savings and Loan Association |
| Jul 1, 1991 | OCC_OTS | Mid-Iowa Savings Bank, FSB | Supervisory Agreement: Mid-Iowa Savings Bank FSB |
| Jul 1, 1991 | OCC_OTS | Freehold Savings and Loan Association | Decision/Opinion and Order: Freehold Savings and Loan Association |
| Jun 28, 1991 | OCC_OTS | Pacific State Bank | Supervisory Agreement: Great Pacific Bank, SSB |
| Jun 28, 1991 | OCC_OTS | Highland Federal Bank, a Federal Savings Bank | Cease and Desist: Highland Federal Bank, FSB |
| Jun 28, 1991 | OCC_OTS | Encino Savings Bank, Federal Savings Bank | Cease and Desist: Encino Savings Bank |
| Jun 28, 1991 | OCC_OTS | Gold River Savings Bank | Orders of Removal/Prohibition: Richard H. Stoddard |
| Jun 28, 1991 | OCC_OTS | Gold River Savings Bank | Orders of Removal/Prohibition: Richard H. Stoddard |
| Jun 27, 1991 | OCC | The Blanco National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Blanco National Bank |
| Jun 27, 1991 | OCC_OTS | (individual) | Cease and Desist: First Savings Bank, FSB |
| Jun 27, 1991 | OCC_OTS | Mercantile Federal Savings Bank | Civil Money Penalty: Drue Birmingham, Jr. |
| Jun 27, 1991 | OCC_OTS | Mt. Troy Savings and Loan Association | Orders of Removal/Prohibition: Anthony M. Angiulli |
| Jun 27, 1991 | OCC_OTS | The Columbia Savings Bank | Supervisory Agreement: Columbia Savings and Loan Company |
| Jun 27, 1991 | OCC | Midsouth Bank, N.A. | Formal Agreement: Midsouth National Bank |
| Jun 27, 1991 | OCC | The Blanco National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Posey, Aaron |
| Jun 27, 1991 | OCC | The Rushville National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Rushville National Bank |
| Jun 27, 1991 | OCC | Mt. Troy Bank | Prohibition/Removal Orders: Angiulli, Anthony M. |
| Jun 26, 1991 | OCC | RHNB National Bank of North Carolina | Formal Agreement: Rhnb National Bank Of North Carolina |
| Jun 26, 1991 | OCC | The First National Bank of Eagle Lake | Formal Agreement: First National Bank of Eagle Lake, The |
| Jun 26, 1991 | OCC_OTS | Security Financial Banking & Savings Federal Savings Bank | Supervisory Agreement: Security Financial Banking and Savings, FSB |
| Jun 26, 1991 | OCC_OTS | Bay State Savings Bank | Supervisory Agreement: Bay State Federal Savings Bank |
| Jun 26, 1991 | OCC_OTS | Greater Bethlehem Savings and Loan Association | Supervisory Agreement: Greater Bethlehem Savings and Loan Association |
| Jun 26, 1991 | OCC_OTS | Rocky Mountain Capital | Supervisory Agreement: Rocky Mountain BAnk, FSB |
| Jun 25, 1991 | OCC | The First National Bank of Newell | Civil Money Penalty (CMP): Hill, Arlie J. |
| Jun 25, 1991 | OCC | The First National Bank of Newell | Civil Money Penalty (CMP): Hill, Brian L. |
| Jun 25, 1991 | OCC | The First National Bank of Newell | Civil Money Penalty (CMP): Pedersen, Glen L. |
| Jun 25, 1991 | OCC | The First National Bank of Newell | Civil Money Penalty (CMP): Wabeke, Cornelius |
| Jun 25, 1991 | OCC | Turtle Creek National Bank | Formal Agreement: Turtle Creek National Bank |
| Jun 25, 1991 | OCC | The First National Bank of Newell | Civil Money Penalty (CMP): Hill, Gilbert D. |
| Jun 25, 1991 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Orders of Removal/Prohibition: Maxine Stowe |
| Jun 25, 1991 | OCC | First National Bank of St. Bernard Parish | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank Of St. Bernard … |
| Jun 25, 1991 | OCC | The First National Bank of Newell | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank Of Newell |
| Jun 25, 1991 | OCC | The First National Bank of Newell | Civil Money Penalty (CMP): Ellrich, Robert |
| Jun 24, 1991 | OCC_OTS | Bay Federal Savings Bank | Cease and Desist: Bay Savings Bank |
| Jun 24, 1991 | OCC_OTS | Algiers Homestead Association | Civil Money Penalty: Algiers Homestead Association |
| Jun 24, 1991 | OCC_OTS | First Northern Savings and Loan Association | Civil Money Penalty: First Northern Savings and Loan Association |
| Jun 24, 1991 | OCC_OTS | Mercantile Federal Savings Bank | Civil Money Penalty: Jonathan B. Threadgill |
| Jun 24, 1991 | OCC_OTS | Suburban Bancorporation, Inc. | Orders of Removal/Prohibition: Herbert A. Middendorff |
| Jun 24, 1991 | OCC_OTS | (individual) | Supervisory Agreement: Bank Western, FSB |
| Jun 21, 1991 | OCC | Bankers Trust of Louisiana, N.A. | Civil Money Penalty (CMP): Thomason, H.Allen |
| Jun 21, 1991 | OCC_OTS | Lake Federal Savings and Loan Association of Hammond | Civil Money Penalty: Lake Federal Savings and Loan Association of Hammond |
| Jun 21, 1991 | OCC_OTS | Lake Federal Savings and Loan Association of Hammond | Civil Money Penalty: Lake Federal Savings Association of Hammond |
| Jun 21, 1991 | OCC | Atlantic National Bank | Civil Money Penalty (CMP): Willis, Levi E. |
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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