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