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 |
|---|---|---|
| Sep 5, 1991 | Strother Drug Employees Credit Union | Beacon Credit Union Incorporated |
| Sep 4, 1991 | First Federal Savings and Loan Association of Idaho Falls | WaFd Bank |
| Sep 3, 1991 | Star Bank, National Association | U.S. Bank N.A. |
| Sep 3, 1991 | Star Bank, National Association, Butler County | U.S. Bank N.A. |
| Sep 3, 1991 | Postal Credit Union | First Financial Credit Union |
| Sep 1, 1991 | Diversified Federal Credit Union | Logix Federal Credit Union |
| Sep 1, 1991 | Bank One, Franklin | Bank One, Indiana, National Association |
| Sep 1, 1991 | Keyes Fibre Hammond Employees Federal Credit Union | Regional Federal Credit Union |
| Sep 1, 1991 | Valley Fidelity Bank and Trust Company | First Horizon Bank |
| Sep 1, 1991 | HBD Empl Fcu | Clinchfield Federal Credit Union |
| Sep 1, 1991 | First of America Bank-Wayne | First of America Bank-Ann Arbor |
| Sep 1, 1991 | Mohawk Valley Federal Savings Bank | United Northern Federal Savings Bank |
| Sep 1, 1991 | McGuire Federal Credit Union | Andrews Federal Credit Union |
| Sep 1, 1991 | The Bank of New Mexico, las vegas | The Bank of New Mexico |
| Sep 1, 1991 | McCulloch Federal Credit Union | La Financial Federal Credit Union |
| Sep 1, 1991 | Saint Augustine Parish Federal Credit Union | Iron Workers Federal Credit Union |
| Sep 1, 1991 | SMCRC Credit Union | Excel Federal Credit Union |
| Sep 1, 1991 | 1st Ambanc, Inc. | Commercesouth, Inc. |
| Sep 1, 1991 | The C-M Company, Inc | First Medicine Lodge Bancshares, Inc. |
| Sep 1, 1991 | Fpe Fcu | Gte Federal Credit Union dba Gte Financial |
| Sep 1, 1991 | Capitol Credit Union | Arkansas Federal Credit Union |
| Sep 1, 1991 | The State Bank of Salem | INB Banking Company |
| Sep 1, 1991 | The Isabel State Bank | Solutionsbank |
| Sep 1, 1991 | Central Soo Credit Union | Royal Credit Union |
| Aug 31, 1991 | Marquette Bank Apple Valley | Marquette Bank Minneapolis, National Association |
| Aug 31, 1991 | U.S. Trust Company of Texas | U.S. Trust Company of Texas, National Association |
| Aug 31, 1991 | Lakeshore Bank, N. A. | Bank One, Oklahoma City |
| Aug 31, 1991 | Beckley National Bank | Bank One, West Virginia, Beckley, National Association |
| Aug 31, 1991 | Merchants & Miners National Bank of Oak Hill | Bank One, West Virginia, Beckley, National Association |
| Aug 31, 1991 | State Bank of Firth, Inc. | Farmers State Bank |
| Aug 31, 1991 | Brown & Bigelow Employees Credit Union | Riverview Credit Union |
| Aug 31, 1991 | TN Grange Cu | First Choice Community Credit Union |
| Aug 31, 1991 | Kerns Empl Cu | First Choice Community Credit Union |
| Aug 31, 1991 | Southeast Cedar Rapids Community Credit Union | Collins Community Credit Union |
| Aug 30, 1991 | Arab Fcu | Redstone Federal Credit Union |
| Aug 27, 1991 | Ccta Federal Credit Union | First Financial of Maryland Federal Credit Union |
| Aug 26, 1991 | First Wisconsin Bank of Two Rivers | Firstar Bank Manitowoc |
| Aug 26, 1991 | Citgo Federal Credit Union | Energy One Federal Credit Union |
| Aug 24, 1991 | Shidler Bancshares, Inc. | Security Bank & Trust Company of Ponca City, Oklahoma |
| Aug 24, 1991 | Community Bank | Security Bank & Trust Company of Ponca City, Oklahoma |
| Aug 24, 1991 | Lamar Industrial Bank | Frontier Bank |
| Aug 23, 1991 | Parish National Bank of St. Tammany | Parish National Bank |
| Aug 22, 1991 | Letchworth Ag Credit Corporation | Letchworth Independent Bancshares Corporation |
| Aug 21, 1991 | CB Bancshares, Inc. | Synovus Financial Corp. |
| Aug 19, 1991 | The Capital National Bank in Austin | Norwest Bank Texas, Austin, National Association |
| Aug 19, 1991 | Havana Bancshares, Inc. | FB Corporation |
| Aug 19, 1991 | Home Savings Bank, S.A. | TCF National Bank Wisconsin |
| Aug 19, 1991 | Electricians of 25 Federal Credit Union | Nassau Financial Federal Credit Union |
| Aug 17, 1991 | Farmers Exchange Bank | Fifth Third Bank, Kentucky, Inc. |
| Aug 15, 1991 | First Oak Brook Bank/Addison | 1st Oak Brook Bank |
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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