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 |
|---|---|---|
| Jul 27, 1991 | Key Bank of Central New York, National Association | KeyBank National Association |
| Jul 27, 1991 | (unnamed) | The Bank of San Diego |
| Jul 27, 1991 | The Oxford Bank | Cornerbank |
| Jul 27, 1991 | Key Bank of Western New York National Association | KeyBank National Association |
| Jul 26, 1991 | Roseville Bancorp, Inc. | Midamerica Bancorporation, Inc. |
| Jul 26, 1991 | Rea Employees Federal Credit Union | Carolina Cooperative Federal Credit Union |
| Jul 25, 1991 | Montrose M C Employees Federal Credit Union | Penn East Federal Credit Union |
| Jul 24, 1991 | Mount Calm Federal Credit Union | Shreveport Federal Credit Union |
| Jul 23, 1991 | First Federal Savings and Loan Association | First Empire Federal Savings and Loan Association |
| Jul 23, 1991 | McKinney Municipal Credit Union | LegacyTexas Bank |
| Jul 22, 1991 | The First National Bank in Dolton | South Holland Trust & Savings Bank |
| Jul 22, 1991 | First Dolton Corp. | South Holland Bancorp, Inc. |
| Jul 20, 1991 | First National Bank of Mt. Zion | The First National Bank of Decatur |
| Jul 19, 1991 | Mobile Radio Employees Credit Union | Safe Federal Credit Union |
| Jul 19, 1991 | Mid-South Bank & Trust Company | SunTrust Bank, Nashville, National Association |
| Jul 19, 1991 | Third Financial Services Incorporated | SunTrust Bank, Nashville, National Association |
| Jul 19, 1991 | Sequoyah State Bank of Muldrow | Armstrong Bank |
| Jul 10, 1991 | Battle Creek Bank | MidAmerica Bank Maplewood |
| Jul 8, 1991 | Syremp Credit Union, Inc. | Tri-County Credit Union, Inc. |
| Jul 1, 1991 | Firstar Hugo Bank | Firstar Bank of Minnesota, National Association |
| Jul 1, 1991 | Ibew Local 270 Fcu | Y-12 Federal Credit Union |
| Jul 1, 1991 | Whitehall Leather Employees Credit Union | Harborlight Credit Union |
| Jul 1, 1991 | King-Lar Employees Credit Union | Staley Credit Union |
| Jul 1, 1991 | Wunda Weave Federal Credit Union | Spero Financial Federal Credit Union |
| Jul 1, 1991 | Lefebure Employees Credit Union | Quaker Oats Employees Credit Union |
| Jul 1, 1991 | First Wisconsin Bank of Waukesha | Firstar Bank Milwaukee, National Association |
| Jul 1, 1991 | First Interstate Bank of Laramie, National Association | First Interstate Bank of Wyoming, National Association |
| Jul 1, 1991 | First Interstate Bank of Riverton, National Association | First Interstate Bank of Wyoming, National Association |
| Jul 1, 1991 | FGL Empl Fcu | Coastline Federal Credit Union |
| Jul 1, 1991 | Alta Bates Federal Credit Union | Cooperative Center Federal Credit Union |
| Jul 1, 1991 | Christian Tabernacle Federal Credit Union | Steel Valley Federal Credit Union |
| Jul 1, 1991 | Firstar Eagan Bank, National Association | Firstar Bank of Minnesota, National Association |
| Jul 1, 1991 | J F & Associates Credit Union | Triangle Credit Union |
| Jul 1, 1991 | Steel Products Employees Credit Union, Inc. | Day Air Credit Union, Inc. |
| Jul 1, 1991 | Uniflow Employees Federal Credit Union | Tri State Rail Federal Credit Union |
| Jul 1, 1991 | Firstar Stillwater Bank, National Association | Firstar Bank of Minnesota, National Association |
| Jul 1, 1991 | First Interstate Bank of Cresco, National Association | Boatmen's Bank of North Iowa |
| Jul 1, 1991 | Guardian Savings & Loan Association | Cape Bank |
| Jul 1, 1991 | Elco Empl Fcu | Blair County Federal Credit Union |
| Jul 1, 1991 | Buena Vista Credit Union | Tucoemas Federal Credit Union |
| Jul 1, 1991 | General Fireproofing Employees Credit Union, Inc. | Seven Seventeen Credit Union Inc |
| Jul 1, 1991 | (unnamed) | The First Citizens National Bank of Upper Sandusky |
| Jul 1, 1991 | I.O.F. Norcal Federal Credit Union | Allied Trades Credit Union |
| Jul 1, 1991 | Aerostructures Empl Fcu | Heritage Credit Union |
| Jul 1, 1991 | Multibank National of Western Massachusetts | MultiBank West |
| Jul 1, 1991 | B C Financial Federal Credit Union | Logix Federal Credit Union |
| Jul 1, 1991 | AMCORE Bank Carpentersville | Amcore Bank National Association, Northwest |
| Jul 1, 1991 | Cleveland-Jackson Sa Cu | Tennessee Valley Federal Credit Union |
| Jul 1, 1991 | Dynalectron Employees Federal Credit Union | Money One Federal Credit Union |
| Jul 1, 1991 | Nashville Kemba Fcu | Ascend Federal Credit Union |
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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