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 |
|---|---|---|---|
| Apr 19, 1991 | OCC_OTS | (individual) | Cease and Desist: Frank Lembi |
| Apr 19, 1991 | OCC | (individual) | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Liberty National Bank |
| Apr 18, 1991 | OCC_OTS | Silverado Banking Savings and Loan Association | Cease and Desist: Neil M. Bush |
| Apr 18, 1991 | OCC | First American Corporation | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First American Bank, National Association |
| Apr 17, 1991 | OCC_OTS | Republic Federal Savings Bank | Cease and Desist: Republic Savings Bank, FSB |
| Apr 16, 1991 | OCC_OTS | Danbury Federal Savings and Loan Association | Cease and Desist: The Danbury Savings and Loan Association, Incorporated |
| Apr 16, 1991 | OCC | The Frost National Bank of San Antonio | Formal Agreement: Frost National Bank of San Antonio, The |
| Apr 15, 1991 | OCC_OTS | Union Bancorp | Cease and Desist: Union Federal Savings Bank |
| Apr 15, 1991 | OCC | Stemmons Northwest Bank, National Association | Formal Agreement: Stemmons Northwest Bank, N.A. |
| Apr 15, 1991 | OCC | First City, Texas - Austin, N.A. | Formal Agreement: First City, Texas - Austin, National Association |
| Apr 15, 1991 | OCC | Crown Charter National Bank | Formal Agreement: Crown Charter National Bank |
| Apr 15, 1991 | FRB | First City Bancorporation of Texas, Inc. | Written Agreement: First City Bancorporation of Texas, Inc., Houston, TX |
| Apr 14, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Motilal Raichand |
| Apr 12, 1991 | OCC | First City, Texas - Houston, N.A. | Formal Agreement: First City, Texas - Houston, National Association |
| Apr 12, 1991 | OCC_OTS | Suburban Federal Savings Bank | Cease and Desist: Suburban Federal Savings Bank |
| Apr 11, 1991 | OCC | The First National Bank of Deerwood | Formal Agreement: The First National Bank Of Deerwood |
| Apr 11, 1991 | OCC | Cullen/Frost Bank of Dallas, National Association | Formal Agreement: Cullen/Frost Bank Of Dallas, N.A. |
| Apr 9, 1991 | OCC | Mission Valley Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Mission Valley Bank National Association |
| Apr 9, 1991 | OCC | First City, Texas - San Antonio, N.A. | Formal Agreement: First City, Texas - San Antonio, National Association |
| Apr 9, 1991 | OCC_OTS | Cardinal Federal Savings Bank | Cease and Desist: Cardinal Federal Savings Bank |
| Apr 8, 1991 | OCC_OTS | Great Atlantic Savings Bank, Federal Savings Bank | Orders of Removal/Prohibition: Harry W. Horne Jr. |
| Apr 8, 1991 | OCC | (individual) | Formal Agreement: First National Bank Of Christiansburg |
| Apr 8, 1991 | FRB | Bankers Trust Company | Written Agreement: Bankers Trust Company, Des Moines, IA |
| Apr 5, 1991 | OCC_OTS | Inland Savings and Loan Association | Cease and Desist: Inland Savings and Loan Association |
| Apr 4, 1991 | OCC | Asian American National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Asian American National Bank |
| Apr 2, 1991 | OCC | Bancfirst-Austin, N.A. | Prohibition/Removal Orders: Keller, David E. |
| Apr 2, 1991 | OCC | Farmers and Merchants Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Farmers And Merchants National Bank |
| Apr 2, 1991 | OCC | The Leonard National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Leonard National Bank |
| Apr 2, 1991 | OCC | Bancfirst-Austin, N.A. | Civil Money Penalty (CMP): Keller, David E. |
| Apr 2, 1991 | OCC | The First National Bank of Englewood | Prohibition/Removal Orders: Corbitt, Cecil |
| Apr 1, 1991 | OCC | MetroBank, National Association | Formal Agreement: Metrobank, National Association |
| Mar 29, 1991 | FRB | Community Bankers, Inc. | Written Agreement: Community Bankers, Inc., Granbury, TX |
| Mar 28, 1991 | OCC | First National Bank in Albuquerque | Formal Agreement: First National Bank In Albuquerque |
| Mar 28, 1991 | OCC | Eastpark Bancshares, Inc. | Formal Agreement: Eastpark National Bank |
| Mar 26, 1991 | OCC_OTS | First Federal Savings Bank of Proviso Township | Cease and Desist: First Federal Savings and Loan of Proviso Township |
| Mar 26, 1991 | OCC | First National Bank of Shelbyville | Formal Agreement: First National Bank Of Shelbyville |
| Mar 26, 1991 | OCC | Interstate National Bank | Formal Agreement: Interstate National Bank |
| Mar 25, 1991 | OCC_OTS | Homestead Federal Savings Association | Cease and Desist: Homestead Savings Association |
| Mar 25, 1991 | OCC | The First National Bank of White Sulphur Springs | C&D or PC&D Requiring Restitution: Grove, Michael E. |
| Mar 25, 1991 | OCC_OTS | Coral Coast Federal Savings Bank | Orders of Removal/Prohibition: Glenn Charles Heinrich |
| Mar 25, 1991 | OCC_OTS | Family Federal Savings Bank of Paintsville, Kentucky | Orders of Removal/Prohibition: B. Elwood Mullins |
| Mar 25, 1991 | OCC | The First National Bank of White Sulphur Springs | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank of White Sulphur … |
| Mar 25, 1991 | OCC | The First National Bank of White Sulphur Springs | C&D or PC&D Requiring Restitution: Doig, Gordon |
| Mar 22, 1991 | OCC_OTS | Hawthorne Savings and Loan Association | Cease and Desist: Hawthorne Savings and Loan Association |
| Mar 22, 1991 | OCC | (individual) | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank Of Georgetown |
| Mar 21, 1991 | OCC | The Farmers National Bank of Forney | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Farmers National Bank Of Forney |
| Mar 21, 1991 | OCC_OTS | Winter Hill Bank, FSB | Cease and Desist: The Winter Hill Federal Savings Bank |
| Mar 20, 1991 | OCC | Rancho Viejo National Bank | Formal Agreement: Rancho Viejo National Bank |
| Mar 20, 1991 | OCC | First Bank Southeast, N.A. | Formal Agreement: First Bank Southeast, N.A. |
| Mar 19, 1991 | OCC | The Canaan National Bank | Formal Agreement: The Canaan National Bank |
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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