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 |
|---|---|---|---|
| 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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