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 |
|---|---|---|
| Aug 14, 1991 | Theatre Crafts Federal Credit Union | Texas Federal Credit Union |
| Aug 9, 1991 | The Green Mountain Bank | Green Mountain Bank |
| Aug 9, 1991 | First Twin-State Bank | Green Mountain Bank |
| Aug 7, 1991 | Three Cities Bancorp, Inc. | FB Corporation |
| Aug 7, 1991 | Third Illinois Bancorp, Inc. | First Bank |
| Aug 7, 1991 | Second Illinois Bancorp, Inc. | FB Corporation |
| Aug 7, 1991 | C-Bancorp, Inc. | FB Corporation |
| Aug 2, 1991 | First American Bank | First American Bank |
| Aug 2, 1991 | First American Bank | First American Bank |
| Aug 2, 1991 | First American Bank | First American Bank |
| Aug 2, 1991 | First American Bank | First American Bank |
| Aug 1, 1991 | First Wisconsin National Bank of Brookfield | Firstar Bank Milwaukee, National Association |
| Aug 1, 1991 | Mesa National Bank - Patterson | Mesa National Bank |
| Aug 1, 1991 | Mesa National Bank - Rifle | Mesa National Bank |
| Aug 1, 1991 | Mesa National Bank - Clifton | Mesa National Bank |
| Aug 1, 1991 | Mesa National Bank - Glenwood Springs | Mesa National Bank |
| Aug 1, 1991 | Mesa National Bank - Montrose | Mesa National Bank |
| Aug 1, 1991 | American National Bank of Lisle | American National Bank and Trust Company of Chicago |
| Aug 1, 1991 | First Schiller Bancorp, Inc. | American National Corporation |
| Aug 1, 1991 | State Exchange Finance Company | NCB Corp. |
| Aug 1, 1991 | Joanna Western Mills Employees Credit Union | Archer Heights Credit Union |
| Aug 1, 1991 | Centreville Catholic Federal Credit Union | Catholic and Community Credit Union |
| Aug 1, 1991 | Japanese School Credit Union | Jacom Credit Union |
| Aug 1, 1991 | Promenade National Bank | Compass Bank-Dallas |
| Aug 1, 1991 | Vancouver Federal Savings Bank | Washington Mutual, a Federal Savings Bank |
| Aug 1, 1991 | Citizens National Bank, Flushing - St. Clairsville | Columbus National Bank |
| Aug 1, 1991 | Strohs Employees Credit Union | Ideal Credit Union |
| Aug 1, 1991 | San Diego Building Trade Federal Credit Union | Banc of California, National Association |
| Aug 1, 1991 | Valley Postal Credit Union | Security First Federal Credit Union |
| Aug 1, 1991 | Rice Lake Credit Union | Royal Credit Union |
| Aug 1, 1991 | Aae Federal Credit Union | Ufcw Community Federal Credit Union |
| Aug 1, 1991 | Youngstown Transit Employees Federal Credit Union | Seven Seventeen Credit Union Inc |
| Aug 1, 1991 | Community Service Credit Union Incorporated | Navy Federal Credit Union |
| Aug 1, 1991 | Brenton Bank and Trust Company | Brenton Bank |
| Aug 1, 1991 | U.S.E.S. Credit Union of New Orleans | Les Federal Credit Union |
| Aug 1, 1991 | M&I Bank of Hilldale | M&I Bank of Southern Wisconsin |
| Aug 1, 1991 | Peoples First National Bank of North Miami Beach | Union Planters Bank of Florida |
| Aug 1, 1991 | First Federal Savings and Loan Association | Western Security Bank |
| Aug 1, 1991 | Nage/Dcasd Federal Credit Union | East Hartford Federal Credit Union |
| Aug 1, 1991 | McArthur Dairy Empl Fcu | Tropical Financial Credit Union |
| Jul 31, 1991 | First United Bancorp, Inc. | First Merchants Corporation |
| Jul 31, 1991 | Portland Naacp Federal Credit Union | Point West Credit Union |
| Jul 31, 1991 | Cambar Federal Credit Union | South Carolina Federal Credit Union |
| Jul 31, 1991 | Sylvania Titusville Federal Credit Union | Community Connect Federal Credit Union |
| Jul 31, 1991 | Preston Bancshares, Inc. | Chadwick Bancshares, Inc. |
| Jul 31, 1991 | Nora Springs Investment Company | Cedar Valley Bankshares, Ltd. |
| Jul 31, 1991 | Riceville Investment Company | Cedar Valley Bankshares, Ltd. |
| Jul 29, 1991 | The Valley Bank of El Paso | State National Bank |
| Jul 29, 1991 | Holy Name Hospital Federal Credit Union | Greater Alliance Federal Credit Union |
| Jul 29, 1991 | Saint Louis Computer Center, Inc. D/b/a/ First Data | C-Bancorp, Inc. |
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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