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 |
|---|---|---|---|
| Feb 21, 1991 | OCC_OTS | Union Bancorp | Civil Money Penalty: Thomas A. Deane |
| Feb 21, 1991 | OCC_OTS | Union Bancorp | Civil Money Penalty: Donald L. Criswell |
| Feb 21, 1991 | OCC_OTS | Union Bancorp | Civil Money Penalty: Robert M. Klosterman |
| Feb 21, 1991 | OCC_OTS | Union Bancorp | Civil Money Penalty: William S. Martin, Jr. |
| Feb 21, 1991 | OCC_OTS | First Federal Savings and Loan Association | Orders of Removal/Prohibition: Donald A. Baker |
| Feb 21, 1991 | OCC | Universal Bancorp, Inc. | Formal Agreement: Universal National Bank |
| Feb 20, 1991 | OCC | Southwest National Bank | Civil Money Penalty (CMP): Clifford, Jack M. |
| Feb 20, 1991 | OCC | Southwest National Bank | Civil Money Penalty (CMP): Clifford, Jack J. |
| Feb 20, 1991 | OCC | Southwest National Bank | Prohibition/Removal Orders: Clifford, Jack M. |
| Feb 20, 1991 | OCC | Southwest National Bank | Prohibition/Removal Orders: Clifford, Jack J. |
| Feb 19, 1991 | OCC | Leadership Bank, National Association | Formal Agreement: Leadership Bank National Association |
| Feb 19, 1991 | OCC | Seacoast National Bank | Formal Agreement: First National Bank And Trust Company Of The Treasure Coast |
| Feb 15, 1991 | OCC_OTS | Ambase Corporation | Cease and Desist: AmBase Corporation |
| Feb 14, 1991 | OCC_OTS | Texas Heritage Savings Association/Banc | Cease and Desist: Texas Heritage Savings Assciatio/Banc |
| Feb 14, 1991 | OCC | The Citizens National Bank of Norwalk | Civil Money Penalty (CMP): Koppelman, Charles F. |
| Feb 13, 1991 | FRB | The Sun City Bank | Cease and Desist Order: Sun City Bank, Sun City, AZ |
| Feb 13, 1991 | OCC | The First National Bank of Gordon | Formal Agreement: The First National Bank Of Gordon |
| Feb 12, 1991 | OCC_OTS | Huntington Federal Savings and Loan Association | Supervisory Agreement: Huntington Federal Savings and Loan Association |
| Feb 11, 1991 | OCC | The American National Bank of Nashwauk | Formal Agreement: The American National Bank of Nashwauk |
| Feb 11, 1991 | OCC | The First National Bank of Nashwauk | Formal Agreement: The First National Bank of Nashwauk |
| Feb 8, 1991 | FRB | River Rouge Savings Bank | Prohibition from Banking: Michael Bonk |
| Feb 8, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Paul G. Mavity |
| Feb 6, 1991 | FRB | United American Bank of Central Florida | Written Agreement: United American Bank of Central Florida, Orlando, FL |
| Feb 6, 1991 | OCC | BANKSTAR, National Association | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Bankstar, National Association |
| Feb 6, 1991 | OCC | Suburban Bank of Virginia, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Bank 2000, National Association |
| Feb 5, 1991 | OCC | The Citizens National Bank of Norwalk | Prohibition/Removal Orders: Koppelman, Charles F. |
| Feb 1, 1991 | OCC | University Bank N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): University Bank, National Association |
| Feb 1, 1991 | FRB | Credit and Commerce American Holdings N V | Cease and Desist Order: Credit Commerce American Holdings, N.V., Netherlands Antilles and BCCI |
| Jan 31, 1991 | FRB | (individual) | Written Agreement: Sterling Bancorp, Inc., Eleanor, WV |
| Jan 31, 1991 | OCC_OTS | Coral Coast Federal Savings Bank | Orders of Removal/Prohibition: Hal Norris Mayer |
| Jan 31, 1991 | OCC_OTS | First Robinson Savings Bank, N.A. | Cease and Desist: Rick L. Catt |
| Jan 31, 1991 | FRB | Buffalo Bank Corporation | Written Agreement: Buffalo Bank, Eleanor, WV |
| Jan 30, 1991 | OCC | First Texoma National Bank | Formal Agreement: First National Bank In Durant |
| Jan 30, 1991 | OCC | The First National Bank of Guymon | Formal Agreement: The First National Bank of Guymon |
| Jan 30, 1991 | OCC_OTS | Colonial Holding Company LTD | Cease and Desist: Colonial Bank |
| Jan 30, 1991 | OCC_OTS | Litchfield Community Savings, S.B. | Cease and Desist: Litchfield Community Savings and Loan Assocation |
| Jan 30, 1991 | OCC_OTS | Midwest Federal Savings and Loan Association of Eastern Iowa | Cease and Desist: Carlton W. Holmes, Jr., |
| Jan 30, 1991 | OCC_OTS | Midwest Federal Savings and Loan Association of Eastern Iowa | Orders of Removal/Prohibition: Carlton W. Holmes Jr. |
| Jan 30, 1991 | OCC_OTS | Midwest Federal Savings and Loan Association of Eastern Iowa | Orders of Removal/Prohibition: Patsy L. Holmes (Bennett) |
| Jan 29, 1991 | OCC | Coastal Bend Bancshares, Inc. | Formal Agreement: Coastal Bend National Bank |
| Jan 29, 1991 | OCC | (individual) | Formal Agreement: Citizens National Bank |
| Jan 29, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Charles H. Keating Jr. |
| Jan 29, 1991 | OCC_OTS | First Federal Savings Association of Toledo | Orders of Removal/Prohibition: Joseph H. Pilkington |
| Jan 29, 1991 | OCC | Western American National Bank | Formal Agreement: Western American National Bank |
| Jan 28, 1991 | FRB | First Lehigh Corporation | Written Agreement: First Lehigh Corporation, Walnutport, PA |
| Jan 28, 1991 | OCC_OTS | Mercantile Federal Savings Bank | Cease and Desist: Mercantile Savings Bank |
| Jan 28, 1991 | OCC | Golden Bank, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Texas First National Bank |
| Jan 28, 1991 | OCC | Liberty National Bank | Civil Money Penalty (CMP): Liberty National Bank |
| Jan 28, 1991 | OCC | The National Bank of Roxbury | Formal Agreement: The National Bank of Roxbury |
| Jan 25, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Joel Flig |
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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