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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 HQ Assets Acquirer or resolution
Jul 25, 1991 The Kerens Bank Kerens, TX $19.5M Cedar Creek Bank
Jul 19, 1991 Pontchartrain State Bank Metairie, LA $140.0M First National Bank of Comm
Jul 19, 1991 Cooperative FSB Westmont, IL $74.9M Heritage Glenwood Bank
Jul 19, 1991 Community Guardian Bank Elmwood Park, NJ $55.3M Interchange State Bank
Jul 19, 1991 Clinton S & La Clinton, OK $22.2M Local Federal Bank, FSB
Jul 19, 1991 New Metropolitan FSB Hialeah, FL $18.4M Desjardins FSB
Jul 12, 1991 Pan American FSB San Mateo, CA $287.2M Pan American Bank, FSB
Jul 12, 1991 Danburry Savings & Loan Danbury, CT $270.2M Bristol FSB
Jul 12, 1991 Monycor Savings Bank Barron, WI $151.7M Branch sale
Jul 12, 1991 Fidelity FS & La Austin, TX $67.0M Deposit payout
Jul 12, 1991 Dripping Springs National Bank Dripping Springs, TX $20.2M Texas Bank
Jul 12, 1991 Landmark Thrift and Loan Association San Diego, CA $16.6M —
Jul 9, 1991 Surety FS & La Morganton, NC $224.8M First Citizens B&TC
Jun 28, 1991 First Mutual Bank for Savings Boston, MA $1.13B First National Bank of Bost
Jun 28, 1991 Metrobank FS & La Palisades Park, NJ $474.3M First FSB of DE
Jun 28, 1991 United FS & La Jonesboro, AR $142.5M Branch sale
Jun 21, 1991 Guardian FSA Huntington Beach, CA $682.1M Home Savings of America, FS
Jun 21, 1991 Beacon Co-Operative Bank Boston, MA $31.8M Grove Bank
Jun 14, 1991 Springfield Fsla Springfield, PA $97.5M Germantown SB
Jun 14, 1991 First Commerce SB, FSB Lowell, IN $10.9M Centier Bank
Jun 13, 1991 The Bank of Horton Horton, KS $167.3M Kansas State Bank
Jun 13, 1991 Tascosa National Bank of Amarillo Amarillo, TX $73.9M Team Bank
Jun 13, 1991 Peoples Bank Hewitt, TX $17.3M The National Bank of Gatesv
Jun 13, 1991 Texas Premier Bank of Victoria, National a Victoria, TX $15.4M Victoria Bank and Trust Com
Jun 7, 1991 Dryades S & La New Orleans, LA $262.3M Dryades SB, FSB
Jun 7, 1991 Woburn Five Cents Savings Bank Woburn, MA $247.2M Sterling Bank
Jun 6, 1991 Northwest Bank, N.A. San Antonio, TX $7.2M Valley-Hi National Bank of
May 31, 1991 Goldome Buffalo, NY $9.89B Key Bank of Western New Yor
May 31, 1991 Goldome FSB St. Petersburg, FL $1.48B First of America Bank/FL, F
May 31, 1991 Merabank Texas El Paso, TX $1.16B Branch sale
May 31, 1991 University Bank, N.A. Newton, MA $318.8M Sterling Bank
May 31, 1991 Westerleigh Savings Staten Island, NY $147.8M Branch sale
May 31, 1991 United FS & La Smyrna, GA $119.3M Branch sale
May 31, 1991 Burleson County Savings Assoc. Caldwell, TX $31.5M Citizens State Bank
May 31, 1991 Enterprise S&LA Compton, CA $13.5M Family SB, FSB
May 24, 1991 Progressive Savings Bank Pasadena, CA $388.3M Branch sale
May 24, 1991 Florida State Bank Holiday, FL $87.4M Orange Bank
May 24, 1991 First Security Bank Roanoke, VA $15.9M First Century Bank
May 23, 1991 Far West FSB Portland, OR $2.07B Branch sale
May 23, 1991 Liberty National Bank Lovington, NM $51.4M Western Commerce Bank
May 22, 1991 The First National Bank of Toms River Toms River, NJ $1.42B First Fidelity Bank, Nation
May 17, 1991 Altus FSB Mobile, AL $1.97B Branch sale
May 17, 1991 The Cosmopolitan National Bank of Chicago Chicago, IL $110.1M Cosmopolitan Bank and Trust
May 17, 1991 First City Bank New Orleans, LA $56.1M First Bank and Trust
May 17, 1991 Ludington FSB Ludington, MI $34.2M Northwestern SB&T
May 16, 1991 Capital Bank Dallas, TX $111.6M Bank One, Texas, National a
May 16, 1991 First National Bank of Cedar Hill Cedar Hill, TX $11.0M First State Bank
May 10, 1991 Madison National Bank Washington, DC $473.8M Signet Bank, National Assoc
May 10, 1991 Madison National Bank of Virginia McLean, VA $174.2M Signet Bank - Virginia
May 10, 1991 First FSA of Newton Newton, KS $125.6M Central NB-Newton

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 St Acquirer
Oct 2, 1991 Washburn Bancshares, Inc. IL Alpha Financial Group, Inc.
Oct 1, 1991 Alprodco Employees Credit Union TX Peco Federal Credit Union
Oct 1, 1991 The Northern Trust Company of Texas TX Northern Trust Bank of Texas National Association
Oct 1, 1991 Morgan Community Bancorp, Inc. IL First of America Bancorporation-Illinois, Inc.
Oct 1, 1991 Whitfield County Postal Employees Credit Union GA Georgia United Credit Union
Oct 1, 1991 Fresno Bee Credit Union CA McClatchy Employees Credit Union
Oct 1, 1991 Mellon Bank (North) National Association PA BNY Mellon, N.A.
Oct 1, 1991 Southern Missouri Bank MO (unnamed)
Oct 1, 1991 Mellon Bank (Central) N.A. PA BNY Mellon, N.A.
Oct 1, 1991 The Wellston State Bank OK Stroud National Bank
Oct 1, 1991 Lutheran General Federal Credit Union IL Encurage Financial Network
Oct 1, 1991 Bud-Jax Federal Credit Union FL Coastline Federal Credit Union
Oct 1, 1991 Occom Federal Credit Union NH Service Federal Credit Union
Oct 1, 1991 Cin-Tronics Employees Federal Credit Union OH Emery Federal Credit Union
Oct 1, 1991 Norstar Bank of Central NY NY Fleet Bank
Oct 1, 1991 Va Medical Center Federal Credit Union OK Oklahoma Federal Credit Union
Oct 1, 1991 Gaico Credit Union TX Resource One Credit Union
Oct 1, 1991 The First State Bank of New Rockford ND Bank Forward
Oct 1, 1991 Hillsborough CNTY Hosp Auth Empl Fcu FL Grow Financial Federal Credit Union
Oct 1, 1991 State Savings Bank IA Lincoln Savings Bank
Oct 1, 1991 Emprise Bank, National Association KS Emprise Bank National Association
Oct 1, 1991 Bithulithic Employees Credit Union TX Relyon Credit Union
Oct 1, 1991 K.C. Federal Credit Union KY L&N Federal Credit Union
Oct 1, 1991 The South Side Savings Bank, FSB OH Liberty Savings Bank, F.S.B.
Oct 1, 1991 Shelby Federal Savings Bank IN First of America Bank-Indiana
Oct 1, 1991 Horizon Savings Bank, S.A. WI The Equitable Bank, S.S.B.
Oct 1, 1991 Midlantic National Bank/North NJ (unnamed)
Oct 1, 1991 Borax Employees Federal Credit Union CA Logix Federal Credit Union
Oct 1, 1991 Pdea Federal Credit Union SC S.C. State Federal Credit Union
Oct 1, 1991 66 Credit Union MN Blaze Credit Union
Oct 1, 1991 Grandview Savings Association PA Parkvale Savings Bank
Oct 1, 1991 Sea Seven Federal Credit Union FL Navy Federal Credit Union
Oct 1, 1991 Plains Creamery Employees Credit Union TX BNSF Credit Union
Oct 1, 1991 Western Atlantic Credit Union TX Advancial Federal Credit Union
Oct 1, 1991 Gladstone Community Federal Credit Union MI Great Lakes First Federal Credit Union
Oct 1, 1991 Postal Credit Union of Galveston TX Coastal Community Federal Credit Union
Oct 1, 1991 K W Employees Federal Credit Union IN Profed Federal Credit Union
Oct 1, 1991 Pope Federal Credit Union NC Pentagon Federal Credit Union
Oct 1, 1991 Salt Workers Credit Union UT Cyprus Federal Credit Union
Oct 1, 1991 Strafford National Bank NH Bank of New Hampshire, National Association
Oct 1, 1991 Buckner Associates Credit Union TX Lone Star Credit Union
Oct 1, 1991 The Commonwealth National Bank PA BNY Mellon, N.A.
Oct 1, 1991 Park West State Bank TX Southwest Bank
Oct 1, 1991 BL&F Federal Credit Union PA Pannonia Federal Credit Union
Oct 1, 1991 Morgan County Community Bank IL First of America Bank - Springfield, National Association
Oct 1, 1991 The Suncook Bank NH Bank of New Hampshire, National Association
Oct 1, 1991 Union Pacific-Western Division Federal Credit Union CA Sea West Coast Guard Federal Credit Union
Oct 1, 1991 Hines Federal Credit Union IL U.S. Employees Credit Union
Oct 1, 1991 Northern Maine Credit Union ME Norstate Federal Credit Union
Oct 1, 1991 Farmers & Merchants Bank of Wimbledon ND Bank Forward

The list holds 500 of the 953 mergers recorded for 1991.

Enforcement Actions in 1991

Action date Agency Institution Action
May 14, 1991 OCC_OTS Security Savings and Loan Association of Garden City Cease and Desist: Donald H. Bell
May 13, 1991 OCC Casco Northern Bank, N.A. Formal Agreement: Casco Northern Bank, National Association
May 13, 1991 OCC First National Bank of Council Bluffs Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank Of Council Bluffs
May 13, 1991 OCC Rhode Island Hospital Trust National Bank Formal Agreement: Rhode Island Hospital Trust National Bank
May 13, 1991 OCC Downers Grove National Bank Formal Agreement: Downers Grove National Bank
May 10, 1991 OCC_OTS South Bergen Savings and Loan Association Orders of Removal/Prohibition: South Bergen Savings and Loan Association
May 9, 1991 OCC The Citizens National Bank of Weatherford Formal Agreement: Citizens National Bank Of Weatherford
May 9, 1991 OCC American National Bank of New York Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): American National Bank Of New York
May 9, 1991 OCC First American Bank of Georgia N.A. (In Liquidation) Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First American Bank Of Gorgia, N.A.
May 8, 1991 OCC The First National Bank of Cushing Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank Of Cushing
May 8, 1991 OCC_OTS American Charter Federal Savings and Loan Association Orders of Removal/Prohibition: Laurel Ann Goodrich
May 8, 1991 OCC_OTS American Charter Federal Savings and Loan Association Orders of Removal/Prohibition: Laurel Ann Goodrich
May 8, 1991 OCC Kingston National Bank Formal Agreement: Kingston National Bank
May 7, 1991 OCC Terrabank, N.A. Formal Agreement: Terrabank, National Association
May 7, 1991 OCC National Bank of Andover Civil Money Penalty (CMP): Stone, Van C.
May 6, 1991 OCC First National Bank Formal Agreement: First National Bank And Trust Company In Clinton
May 6, 1991 OCC Memorial Bank, N.A. Civil Money Penalty (CMP): Smith, Steve E.
May 6, 1991 OCC Interstate National Bank Prohibition/Removal Orders: Nunis, Robert P.
May 6, 1991 FRB Bcci Holdings (Luxembourg) S.A. Cease and Desist Order: BCCI Holdings (Luxembourg) S.A., Luxembourg, Luxembourg and Bank of Credit …
May 5, 1991 OCC_OTS (individual) Civil Money Penalty: Forrest Wood, Jr.
May 3, 1991 OCC The Hamilton National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Hamilton National Bank
May 3, 1991 OCC_OTS Great American Bank Cease and Desist: Great American Bank, A Federal Savings Bank
May 2, 1991 OCC_OTS D&N Bank, a Federal Savings Bank Cease and Desist: D&N Bank, A FSB
May 2, 1991 FRB James Madison Limited Written Agreement: James Madison Limited, Washington, DC
May 2, 1991 OCC The First National Bank of Bonham Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank Of Bonham
May 2, 1991 OCC_OTS D&N Savings Bank, FSB Cease and Desist: D&N Financial Corporation
May 1, 1991 OCC Bancfirst-Austin, N.A. Prohibition/Removal Orders: Freitag, F. Louis
May 1, 1991 FRB Independent Bankgroup, Inc. Cease and Desist Order: Independent Bankgroup, Inc., Springfield, VT
May 1, 1991 OCC First National Bank of Stamford Formal Agreement: First National Bank Of Stamford
Apr 30, 1991 OCC_OTS San Francisco Federal Savings and Loan Association Cease and Desist: Roger L. Gordon
Apr 30, 1991 OCC (individual) Formal Agreement: Capital Bank, N.A.
Apr 30, 1991 OCC Hilton Head Bank & Trust Company, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Hilton Head Bank And Trust Company, …
Apr 30, 1991 OCC_OTS San Francisco Federal Savings and Loan Association Cease and Desist: San Francisco Federal Savings and Loan Association
Apr 30, 1991 OCC Summit National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Summit National Bank
Apr 29, 1991 OCC First Midwest Trust Company, N.A. Formal Agreement: First Midwest Bank, N.A.
Apr 29, 1991 OCC Crown National Bank Formal Agreement: Crown National Bank
Apr 29, 1991 OCC The Waller Bank, N.A. Civil Money Penalty (CMP): Ladig, Diane
Apr 29, 1991 OCC (individual) Civil Money Penalty (CMP): First Fidelity Trust, N.A.
Apr 29, 1991 OCC Unity National Bank of Houston Formal Agreement: Unity National Bank Of Houston
Apr 26, 1991 FRB (individual) Written Agreement: Bank Bumiputra Malaysia Berhad, Kuala Lumpur, Malaysia, Bank Bumiputra Malaysia Berhad, Los …
Apr 25, 1991 OCC Bank of Florida, National Association Formal Agreement: Bank Of Florida, National Association
Apr 25, 1991 OCC Bank USA, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Bank Usa, National Association
Apr 24, 1991 OCC Bank of Commerce Formal Agreement: National Bank Of Commerce
Apr 24, 1991 OCC Associated Bank, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Associated Bank, National Association
Apr 24, 1991 OCC_OTS First Northern Savings and Loan Association Cease and Desist: First Northern Savings and Loan Association
Apr 24, 1991 OCC (individual) Formal Agreement: Boulevard Bank, N.A.
Apr 24, 1991 OCC First Independence Bank Formal Agreement: First Independence National Bank
Apr 22, 1991 OCC First National Bank of Miami Formal Agreement: First National Bank Of Miami
Apr 22, 1991 OCC_OTS Stockdale Savings and Loan Association Cease and Desist: Stockdale Savings and Loan Association
Apr 19, 1991 OCC_OTS (individual) Cease and Desist: G. Richard Munton

FDIC Open-Bank Assistance in 1991

Date Institution HQ Assets
Dec 4, 1991 The Douglass Bank Kansas City, KS $31.9M
Oct 2, 1991 The Gunnison Bank & Trust Co. Gunnison, CO $20.1M
Sep 16, 1991 First Bank and Trust Harrisburg, IL $26.6M

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