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 |
|---|---|---|---|
| Mar 19, 1991 | OCC_OTS | North Texas Savings & Loan Association | Civil Money Penalty: Bennie G. Snider |
| Mar 19, 1991 | OCC | The Laguna Bank, National Association | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Laguna Bank, National Association |
| Mar 19, 1991 | OCC | The Citizens National Bank of Norwalk | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Citizens National Bank Of Norwalk |
| Mar 18, 1991 | OCC_OTS | Severn Financial Services Corporation | Cease and Desist: Severn Savings Bank, FSB |
| Mar 18, 1991 | OCC | Yardville National Bancorp | Formal Agreement: Yardville National Bank |
| Mar 18, 1991 | OCC | Eagle National Bancorp, Inc. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Eagle National Bank |
| Mar 18, 1991 | OCC | The Rappahannock National Bank of Washington | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Rappahannock National Bank, The |
| Mar 15, 1991 | OCC_OTS | NewAmerica Savings Bank | Orders of Removal/Prohibition: David D. Jennings |
| Mar 15, 1991 | OCC_OTS | NewAmerica Savings Bank | Orders of Removal/Prohibition: Alan V. Rodebush |
| Mar 15, 1991 | OCC_OTS | NewAmerica Savings Bank | Orders of Removal/Prohibition: Alan I. Indictor |
| Mar 15, 1991 | OCC_OTS | First Federal Savings Bank | Cease and Desist: First Trust Savings Bank, F.S.B. |
| Mar 15, 1991 | OCC_OTS | NewAmerica Savings Bank | Orders of Removal/Prohibition: Rubin M. Turner |
| Mar 15, 1991 | OCC_OTS | NewAmerica Savings Bank | Orders of Removal/Prohibition: Robert E. Taylor |
| Mar 15, 1991 | OCC | Bancfirst-Austin, N.A. | Civil Money Penalty (CMP): Freitag, F. Louis |
| Mar 14, 1991 | OCC | Columbia National Bank-Belmont | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Belmont National Bank |
| Mar 12, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: James A. Tatum |
| Mar 12, 1991 | OCC_OTS | Fidelity Mutual Savings & Loan Association | Decision/Opinion and Order: Fidelity Mutual Savings and Loan Association |
| Mar 12, 1991 | OCC_OTS | (individual) | Civil Money Penalty: James A. Tatum |
| Mar 12, 1991 | OCC_OTS | (individual) | Cease and Desist: John J. Fraiser, Jr. |
| Mar 12, 1991 | OCC | (individual) | Civil Money Penalty (CMP): American National Bank of Dekalb, The |
| Mar 8, 1991 | FRB | (individual) | Cease and Desist Order: Banca Nazionale del Lavoro, Rome, Italy, Banca Nazionale del Lavoro, … |
| Mar 8, 1991 | OCC_OTS | (individual) | Cease and Desist: American Federal Bank, a Federal Savings Bank |
| Mar 8, 1991 | OCC | Community National Bank and Trust Company of New York | Civil Money Penalty (CMP): Kirkorian, Kirk C. |
| Mar 7, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Ramiro L. Colon Jr. |
| Mar 7, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Wendell Colon |
| Mar 5, 1991 | OCC | State National Company | Civil Money Penalty (CMP): Brown, Alan |
| Mar 5, 1991 | OCC_OTS | Cobb Federal Savings Association | Orders of Removal/Prohibition: Billy R. Campbell |
| Mar 4, 1991 | OCC | Westpoint National Bank | Civil Money Penalty (CMP): McClaugherty, George W. |
| Mar 4, 1991 | OCC | The Malta National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Malta National Bank |
| Mar 4, 1991 | OCC_OTS | Newport News Savings Bank | Cease and Desist: Kendall Jones |
| Mar 4, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Cease and Desist Order: BCCI Holdings (Luxembourg) S.A., Luxembourg, Luxembourg and Bank of Credit … |
| Mar 1, 1991 | OCC | Progressive National Bank | Civil Money Penalty (CMP): Palumbo, L.P. |
| Mar 1, 1991 | FRB | Greater Southwest Bancshares, Inc. | Written Agreement: H. Gary Blankenship |
| Mar 1, 1991 | FRB | Greater Southwest Bancshares, Inc. | Written Agreement: Greater Southwest Bancshares, Inc., Irving, TX |
| Mar 1, 1991 | FRB | (individual) | Written Agreement: Greater Southwest Bancshares, Inc., Employee Stock Ownership Plan, Irving, TX |
| Mar 1, 1991 | FRB | Bank of the West | Written Agreement: Bank of the West, Irving, TX |
| Mar 1, 1991 | OCC | The First National Bank of Poth | Civil Money Penalty (CMP): Semlinger, Kenneth E. |
| Feb 28, 1991 | OCC | First Interstate of Iowa, Inc. | Formal Agreement: First Interstate Bank Of Des Moines |
| Feb 28, 1991 | OCC_OTS | Life Financial Corporation | Civil Money Penalty: Life Savings Bank |
| Feb 28, 1991 | OCC | The Bradford National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Bradford National Bank |
| Feb 28, 1991 | OCC_OTS | Lawrence Financial Holdings, Inc. | Orders of Removal/Prohibition: John F. Newman |
| Feb 28, 1991 | OCC | First National Bank of Vermont | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank Of Vermont |
| Feb 26, 1991 | OCC | The Caledonia National Bank of Danville | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Caledonia National Bank Of Danville |
| Feb 26, 1991 | OCC | National Grand Bank of Marblehead | Formal Agreement: National Grand Bank Of Marblehead |
| Feb 26, 1991 | OCC | The Waller Bank, N.A. | Civil Money Penalty (CMP): Hauck, James |
| Feb 26, 1991 | OCC_OTS | Transohio Federal Savings Bank | Decision/Opinion and Order: Transohio Savings Bank |
| Feb 25, 1991 | OCC | The First National Bank in Goodland | Civil Money Penalty (CMP): McCants, Lawrence L. |
| Feb 25, 1991 | OCC | Southside National Bank | Formal Agreement: Southside National Bank |
| Feb 25, 1991 | OCC_OTS | First Federal Savings Bank of South Dakota | Orders of Removal/Prohibition: Steven Ettles |
| Feb 22, 1991 | OCC | Mission Viejo National Bank | Formal Agreement: Mission Viejo 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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