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 |
|---|---|---|
| Oct 1, 1991 | Indian Head Federal Credit Union | Navy Federal Credit Union |
| Oct 1, 1991 | Estill Federal Savings Bank | First Federal Savings Bank |
| Oct 1, 1991 | (unnamed) | Bank of New Hampshire, National Association |
| Oct 1, 1991 | Goodwill Employees Federal Credit Union | Cal State L.A. Federal Credit Union |
| Oct 1, 1991 | The Bristol Bank | Bank of New Hampshire, National Association |
| Oct 1, 1991 | Tower Industries Inc. Employees Federal Credit Union | Inland Valley Federal Credit Union |
| Oct 1, 1991 | Lathers Credit Union | Construction Federal Credit Union |
| Sep 30, 1991 | Graphic Arts Credit Union of Los Angeles | Southland Credit Union |
| Sep 30, 1991 | United Savings Association of the Southwest, FSB | Bank United |
| Sep 30, 1991 | FNW Bancorp, Inc. | NBD Illinois, Inc. |
| Sep 30, 1991 | First Western Bancorp, Inc. | Christen Group, Inc. |
| Sep 30, 1991 | United Illinois Bank of Collinsville | United Illinois Bank of New Athens |
| Sep 30, 1991 | S O a R C Federal Credit Union | Rock Valley Credit Union |
| Sep 30, 1991 | Junior Form Federal Credit Union | Ussco Johnstown Federal Credit Union |
| Sep 30, 1991 | Home and City Savings Bank | TrustCo Bank, National Association |
| Sep 29, 1991 | State Bank of Fox Lake | Ergo Bank |
| Sep 29, 1991 | Fox Lake Bankshares, Inc. | FS Bancshares, Inc. |
| Sep 29, 1991 | Morris Savings Bank | First Fidelity Bank, National Association, New Jersey |
| Sep 28, 1991 | Presque Isle Bank | North Bank |
| Sep 28, 1991 | Ebenezer A.M.E. Church Credit Union | Credit Union One |
| Sep 28, 1991 | Jackson Mississippi School Employees Federal Credit Union | Jackson Area Federal Credit Union |
| Sep 26, 1991 | First National Bank | First United Bank and Trust Company |
| Sep 26, 1991 | First National Bank | City Bank & Trust |
| Sep 23, 1991 | Kentucky National Bank of Boone County | Star Bank, National Association, Kentucky |
| Sep 23, 1991 | Kentucky Bancorporation Inc. | Star Banc Corporation |
| Sep 23, 1991 | (unnamed) | Star Bank, National Association, Kentucky |
| Sep 23, 1991 | First National Bank in Anoka | Wells Fargo Bank Minnesota, National Association |
| Sep 22, 1991 | Amsterdam-Rotterdam Bank, N.V. | The Royal Bank of Scotland, N.V. |
| Sep 19, 1991 | Potomac Yard Federal Credit Union | AB&W Credit Union Inc. |
| Sep 16, 1991 | The Dawson Bank | Home State Bank and Trust Company |
| Sep 16, 1991 | Oak Lawn National Bank | First National Bank of Evergreen Park |
| Sep 16, 1991 | Clearing Bank | First National Bank of Evergreen Park |
| Sep 16, 1991 | Stiefel Companies Federal Credit Union | Sunmark Credit Union |
| Sep 14, 1991 | Logan Savings and Loan Association | First Federal Savings Bank |
| Sep 14, 1991 | The Central Trust Company | Bank One, National Association |
| Sep 14, 1991 | BB&T Savings Bank of Durham, Inc. | Truist Bank |
| Sep 14, 1991 | The Central Trust Company of Northeastern Ohio, N. A. | Bank One, Akron, National Association |
| Sep 14, 1991 | The Central Trust Company of Northern Ohio, National Association | Bank One, Cleveland, National Association |
| Sep 14, 1991 | Peoples Building and Loan Association of Oblong | First Crawford State Bank |
| Sep 14, 1991 | Liberty National Bank of Jessamine | Liberty National Bank of Lexington |
| Sep 14, 1991 | Bank One, Wooster, National Association | Bank One, Akron, National Association |
| Sep 14, 1991 | BB&T Federal Savings Bank of High Point | Truist Bank |
| Sep 14, 1991 | BB&T Federal Savings Bank of Pitt County | Truist Bank |
| Sep 13, 1991 | Watauga Savings and Loan Association, Inc. | RBC Bank (USA) |
| Sep 12, 1991 | Broyhill Employees Credit Union | Members Credit Union |
| Sep 11, 1991 | American Savings Bank, F.S.B. | Washington Mutual Bank |
| Sep 10, 1991 | West Frankfort Community Bancshares, Inc. | FB Corporation |
| Sep 10, 1991 | Chilton Memorial Hospital Federal Credit Union | North Jersey Federal Credit Union |
| Sep 7, 1991 | Farmers and Merchants Bank | American Midwest Bank |
| Sep 6, 1991 | Benedict College Federal Credit Union | Allsouth Federal Credit Union |
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 | 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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