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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 HQ Assets Acquirer or resolution
Jul 25, 1991 The Kerens Bank Kerens, TX $19.5M Cedar Creek Bank
Jul 19, 1991 Pontchartrain State Bank Metairie, LA $140.0M First National Bank of Comm
Jul 19, 1991 Cooperative FSB Westmont, IL $74.9M Heritage Glenwood Bank
Jul 19, 1991 Community Guardian Bank Elmwood Park, NJ $55.3M Interchange State Bank
Jul 19, 1991 Clinton S & La Clinton, OK $22.2M Local Federal Bank, FSB
Jul 19, 1991 New Metropolitan FSB Hialeah, FL $18.4M Desjardins FSB
Jul 12, 1991 Pan American FSB San Mateo, CA $287.2M Pan American Bank, FSB
Jul 12, 1991 Danburry Savings & Loan Danbury, CT $270.2M Bristol FSB
Jul 12, 1991 Monycor Savings Bank Barron, WI $151.7M Branch sale
Jul 12, 1991 Fidelity FS & La Austin, TX $67.0M Deposit payout
Jul 12, 1991 Dripping Springs National Bank Dripping Springs, TX $20.2M Texas Bank
Jul 12, 1991 Landmark Thrift and Loan Association San Diego, CA $16.6M —
Jul 9, 1991 Surety FS & La Morganton, NC $224.8M First Citizens B&TC
Jun 28, 1991 First Mutual Bank for Savings Boston, MA $1.13B First National Bank of Bost
Jun 28, 1991 Metrobank FS & La Palisades Park, NJ $474.3M First FSB of DE
Jun 28, 1991 United FS & La Jonesboro, AR $142.5M Branch sale
Jun 21, 1991 Guardian FSA Huntington Beach, CA $682.1M Home Savings of America, FS
Jun 21, 1991 Beacon Co-Operative Bank Boston, MA $31.8M Grove Bank
Jun 14, 1991 Springfield Fsla Springfield, PA $97.5M Germantown SB
Jun 14, 1991 First Commerce SB, FSB Lowell, IN $10.9M Centier Bank
Jun 13, 1991 The Bank of Horton Horton, KS $167.3M Kansas State Bank
Jun 13, 1991 Tascosa National Bank of Amarillo Amarillo, TX $73.9M Team Bank
Jun 13, 1991 Peoples Bank Hewitt, TX $17.3M The National Bank of Gatesv
Jun 13, 1991 Texas Premier Bank of Victoria, National a Victoria, TX $15.4M Victoria Bank and Trust Com
Jun 7, 1991 Dryades S & La New Orleans, LA $262.3M Dryades SB, FSB
Jun 7, 1991 Woburn Five Cents Savings Bank Woburn, MA $247.2M Sterling Bank
Jun 6, 1991 Northwest Bank, N.A. San Antonio, TX $7.2M Valley-Hi National Bank of
May 31, 1991 Goldome Buffalo, NY $9.89B Key Bank of Western New Yor
May 31, 1991 Goldome FSB St. Petersburg, FL $1.48B First of America Bank/FL, F
May 31, 1991 Merabank Texas El Paso, TX $1.16B Branch sale
May 31, 1991 University Bank, N.A. Newton, MA $318.8M Sterling Bank
May 31, 1991 Westerleigh Savings Staten Island, NY $147.8M Branch sale
May 31, 1991 United FS & La Smyrna, GA $119.3M Branch sale
May 31, 1991 Burleson County Savings Assoc. Caldwell, TX $31.5M Citizens State Bank
May 31, 1991 Enterprise S&LA Compton, CA $13.5M Family SB, FSB
May 24, 1991 Progressive Savings Bank Pasadena, CA $388.3M Branch sale
May 24, 1991 Florida State Bank Holiday, FL $87.4M Orange Bank
May 24, 1991 First Security Bank Roanoke, VA $15.9M First Century Bank
May 23, 1991 Far West FSB Portland, OR $2.07B Branch sale
May 23, 1991 Liberty National Bank Lovington, NM $51.4M Western Commerce Bank
May 22, 1991 The First National Bank of Toms River Toms River, NJ $1.42B First Fidelity Bank, Nation
May 17, 1991 Altus FSB Mobile, AL $1.97B Branch sale
May 17, 1991 The Cosmopolitan National Bank of Chicago Chicago, IL $110.1M Cosmopolitan Bank and Trust
May 17, 1991 First City Bank New Orleans, LA $56.1M First Bank and Trust
May 17, 1991 Ludington FSB Ludington, MI $34.2M Northwestern SB&T
May 16, 1991 Capital Bank Dallas, TX $111.6M Bank One, Texas, National a
May 16, 1991 First National Bank of Cedar Hill Cedar Hill, TX $11.0M First State Bank
May 10, 1991 Madison National Bank Washington, DC $473.8M Signet Bank, National Assoc
May 10, 1991 Madison National Bank of Virginia McLean, VA $174.2M Signet Bank - Virginia
May 10, 1991 First FSA of Newton Newton, KS $125.6M Central NB-Newton

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

The list holds 500 of the 953 mergers recorded for 1991.

Enforcement Actions in 1991

Action date Agency Institution Action
Oct 23, 1991 OCC_OTS Sentry Savings and Loan Association Supervisory Agreement: Sentry Savings and Loan Association
Oct 23, 1991 OCC_OTS Secure Holdings, Inc. Supervisory Agreement: Secure Savings Bank, F.S.B.
Oct 23, 1991 OCC City National Bank of Sayre Prohibition/Removal Orders: Noyes, Alan W.
Oct 22, 1991 OCC_OTS (individual) Orders of Removal/Prohibition: Daniel T. Hollenbach
Oct 22, 1991 OCC_OTS Hidalgo Federal Savings & Loan Association Orders of Removal/Prohibition: Michael F. Frost
Oct 22, 1991 OCC_OTS (individual) Orders of Removal/Prohibition: Leland E. Whitten
Oct 22, 1991 OCC_OTS Hidalgo Federal Savings & Loan Association Orders of Removal/Prohibition: Larry T. Hunter
Oct 22, 1991 OCC_OTS Hidalgo Federal Savings & Loan Association Orders of Removal/Prohibition: Charles Fortson
Oct 22, 1991 OCC The First Citizens National Bank of Upper Sandusky Civil Money Penalty (CMP): First Citizens National Bank of Upper Sandusky, The
Oct 22, 1991 OCC Mechanics National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Mechanics National Bank
Oct 21, 1991 OCC Western National Bank of Cass Lake Civil Money Penalty (CMP): Bianco, James W.
Oct 21, 1991 OCC_OTS Milton Federal Savings and Loan Association Supervisory Agreement: Milton Federal Savings and Loan Association
Oct 21, 1991 OCC_OTS Presidential Holding Corporation Supervisory Agreement: Presidential Bank
Oct 21, 1991 OCC The First National Bank of Manning Formal Agreement: The First National Bank Of Manning
Oct 21, 1991 OCC Western National Bank of Cass Lake Civil Money Penalty (CMP): Oakes, Larry V.
Oct 21, 1991 OCC Western National Bank of Cass Lake Civil Money Penalty (CMP): Neises, Richard J.
Oct 21, 1991 OCC Western National Bank of Cass Lake Civil Money Penalty (CMP): Bianco, Nola
Oct 21, 1991 OCC Western National Bank of Cass Lake Civil Money Penalty (CMP): Bianco, Michael V.
Oct 18, 1991 OCC Seacoast National Bank Civil Money Penalty (CMP): Hudson, Dennis S.
Oct 17, 1991 OCC_OTS Permanent Federal Savings Bank Supervisory Agreement: Permanent Federal Savings Bank
Oct 16, 1991 OCC The Flemington National Bank and Trust Company Formal Agreement: Flemington National Bank and Trust Company, The
Oct 16, 1991 OCC_OTS Primerit Bank, Federal Savings Bank Supervisory Agreement: PriMerit Bank, Federal Savings Bank
Oct 16, 1991 OCC Columbia National Bank-Belmont Prohibition/Removal Orders: Karris, Nicholas A.
Oct 15, 1991 OCC The Peoples National Bank of Warrenton Formal Agreement: The Peoples National Bank Of Warrenton
Oct 15, 1991 OCC_OTS Ruston Building and Loan Association Supervisory Agreement: Ruston Building and Loan Association
Oct 15, 1991 OCC Gateway National Bank Prohibition/Removal Orders: Raushkolb, James
Oct 15, 1991 FRB (individual) Prohibition from Banking: Rudell M. Oppegard
Oct 15, 1991 OCC Valley National Bank Formal Agreement: Valley National Bank
Oct 15, 1991 OCC Gateway National Bank Prohibition/Removal Orders: Hemingway, Joann
Oct 15, 1991 FRB (individual) Civil Money Penalty $10,000: Rudell M. Oppegard
Oct 15, 1991 OCC The Farmers National Bank of Scottsville Formal Agreement: Farmers National Bank of Scottsville, The
Oct 15, 1991 OCC The First National Bank of Ipswich Formal Agreement: First National Bank Of Ipswich
Oct 11, 1991 OCC_OTS (individual) Cease and Desist: University Savings Bank
Oct 10, 1991 OCC_OTS South Bergen Savings and Loan Association Civil Money Penalty: Herbert C. Hermann
Oct 10, 1991 FRB FWB Bank Written Agreement: FWB Bancorporation, Rockville, MD
Oct 10, 1991 OCC The Granger National Bank Civil Money Penalty (CMP): The Granger National Bank
Oct 10, 1991 OCC_OTS South Bergen Savings and Loan Association Orders of Removal/Prohibition: Herbert C. Hermann
Oct 9, 1991 OCC Metropolitan National Bank Civil Money Penalty (CMP): Sheehan, Patrick R.
Oct 9, 1991 OCC Metropolitan National Bank Civil Money Penalty (CMP): Terry, Kenneth R.
Oct 7, 1991 OCC Valley National Bank of Cortez Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Valley National Bank Of Cortez
Oct 7, 1991 OCC Merchants Bank of California, N.A. Civil Money Penalty (CMP): Galletti, Sebastiano
Oct 7, 1991 OCC_OTS Gateway Federal Savings Bank Civil Money Penalty: Raymond Au
Oct 7, 1991 OCC Merchants Bank of California, N.A. Civil Money Penalty (CMP): Garcia, Robert D.
Oct 7, 1991 OCC Merchants Bank of California, N.A. Civil Money Penalty (CMP): Galletti, Abel C.
Oct 4, 1991 OCC Hiawatha National Bank Formal Agreement: Hiawatha National Bank
Oct 4, 1991 OCC_OTS Allatoona Federal Savings Bank Cease and Desist: Allatoona Federal Savings Bank
Oct 4, 1991 OCC_OTS (individual) Orders of Removal/Prohibition: Donald R. Stautberg
Oct 4, 1991 OCC_OTS (individual) Supervisory Agreement: Eureka Savings Bank, F.S.B.
Oct 4, 1991 FRB (individual) Written Agreement: Pioneer Bank, Fullerton, CA
Oct 3, 1991 FRB (individual) Written Agreement: Fairfield Financial Corporation, Fairfield, TX

FDIC Open-Bank Assistance in 1991

Date Institution HQ Assets
Dec 4, 1991 The Douglass Bank Kansas City, KS $31.9M
Oct 2, 1991 The Gunnison Bank & Trust Co. Gunnison, CO $20.1M
Sep 16, 1991 First Bank and Trust Harrisburg, IL $26.6M

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