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 |
|---|---|---|---|
| Sep 23, 1991 | FRB | Jackson Exchange Bank and Trust Company | Cease and Desist Order: Jackson Exchange Bank and Trust Company, Jackson, MO |
| Sep 23, 1991 | FRB | First Exchange Bank of Cape Girardeau | Cease and Desist Order: First Exchange Corporation, Cape Girardeau, MO |
| Sep 23, 1991 | FRB | First Exchange Bank of St. Louis | Cease and Desist Order: First Exchange Bank of St. Louis, St. Louis, MO |
| Sep 20, 1991 | OCC_OTS | (individual) | Supervisory Agreement: Eli Anderson |
| Sep 19, 1991 | OCC_OTS | (individual) | Cease and Desist: Security Savings Bank, F.S.B. |
| Sep 19, 1991 | OCC_OTS | First Commercial Savings Bank | Civil Money Penalty: William H. Crawford |
| Sep 19, 1991 | OCC | First National Bank of Akron | Civil Money Penalty (CMP): First National Bank of Akron, The |
| Sep 19, 1991 | OCC | The Broadway National Bank of Chelsea | Formal Agreement: Broadway National Bank |
| Sep 19, 1991 | OCC | ProBank, National Association | Formal Agreement: Probank, National Association |
| Sep 18, 1991 | OCC | The Rawlins National Bank | Civil Money Penalty (CMP): The Rawlins National Bank |
| Sep 18, 1991 | OCC_OTS | Universal Bank | Supervisory Agreement: Universal Savings Bank |
| Sep 18, 1991 | OCC_OTS | St. Landry Bancshares, Inc. | Supervisory Agreement: St. Landry Homestead Federal Savings Bank |
| Sep 18, 1991 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Orders of Removal/Prohibition: Charles E. Haley |
| Sep 18, 1991 | OCC | First Florida Banks, Incorporated | Formal Agreement: First Florida Bank, National Association |
| Sep 18, 1991 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Orders of Removal/Prohibition: Charles E. Hamilton |
| Sep 18, 1991 | OCC_OTS | Civic Federal Savings Bank | Orders of Removal/Prohibition: Larry C. Kelliher |
| Sep 18, 1991 | OCC_OTS | Butte Savings and Loan Association | Supervisory Agreement: Butte Savings and Loan Association |
| Sep 17, 1991 | OCC_OTS | Sidney Federal Savings and Loan Association | Supervisory Agreement: Sidney Federal Savings and Loan Association |
| Sep 17, 1991 | OCC_OTS | Pekin Savings and Loan Association | Supervisory Agreement: Pekin Savings and Loan Association |
| Sep 17, 1991 | OCC | American National Bank and Trust Company | Formal Agreement: American National Bank And Trust Company |
| Sep 16, 1991 | OCC_OTS | Pioneer Federal Savings and Loan Association | Civil Money Penalty: Thomas G. Welch |
| Sep 16, 1991 | OCC_OTS | Dona Ana Savings and Loan Association Incorporated | Civil Money Penalty: Bernard Gluck |
| Sep 16, 1991 | OCC_OTS | Dona Ana Savings and Loan Association Incorporated | Civil Money Penalty: Carlos Blanco |
| Sep 16, 1991 | OCC_OTS | Dona Ana Savings and Loan Association Incorporated | Civil Money Penalty: J. Philip Kaltenback |
| Sep 16, 1991 | OCC_OTS | Dona Ana Savings and Loan Association Incorporated | Civil Money Penalty: Richard E. McLean |
| Sep 16, 1991 | OCC_OTS | Executive Banc Savings Association, F.A. | Orders of Removal/Prohibition: Vernon L. Watson |
| Sep 16, 1991 | OCC_OTS | North Cincinnati Loan and Building Company | Supervisory Agreement: North Cincinnati Loan and Building Company |
| Sep 13, 1991 | OCC_OTS | Citizens Federal Savings Bank | Supervisory Agreement: Citizens Federal Savings Bank |
| Sep 13, 1991 | OCC_OTS | Peoples Federal Savings Bank | Supervisory Agreement: Peoples Federal Savings Bank |
| Sep 13, 1991 | OCC_OTS | (individual) | Cease and Desist: Security Federal Savings and Loan Association of Nashville |
| Sep 13, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Agha Hasan Abedi |
| Sep 13, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Ghaith Pharaon |
| Sep 13, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Kemal Shoaib |
| Sep 13, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Notice of Intent: Swaleh Naqvi |
| Sep 12, 1991 | FRB | Collinsville Bancorp, Inc. | Written Agreement: Collinsville Bancorp, Inc., Collinsville, OK |
| Sep 12, 1991 | OCC_OTS | Elk County Savings and Loan Association | Supervisory Agreement: Elk County Savings and Loan Association |
| Sep 12, 1991 | FRB | Collinsville Bancorp, Inc. | Written Agreement: William S. Flanagan, Jr. |
| Sep 11, 1991 | OCC | Western National Bank of Cass Lake | Civil Money Penalty (CMP): Neises, Richard J. |
| Sep 11, 1991 | OCC_OTS | Paramount Savings Bank | Supervisory Agreement: Paramount Savings Bank |
| Sep 11, 1991 | OCC_OTS | Litchfield Community Savings and Loan Association | Orders of Removal/Prohibition: Richard N. Wimberly |
| Sep 10, 1991 | OCC | The Hondo National Bank | Civil Money Penalty (CMP): Yanta, Fred J. |
| Sep 10, 1991 | OCC | The Hondo National Bank | Civil Money Penalty (CMP): Graff, Fred L. |
| Sep 10, 1991 | OCC | The Hondo National Bank | Civil Money Penalty (CMP): Finger, Henry M. |
| Sep 10, 1991 | OCC | The Hondo National Bank | Prohibition/Removal Orders: Graff, Fred L. |
| Sep 10, 1991 | OCC | Lakeside National Bank | Formal Agreement: Lakeside National Bank |
| Sep 10, 1991 | FRB | Glenwood State Bank | Written Agreement: Glenwood State Bank, Glenwood, IA |
| Sep 10, 1991 | FRB | (individual) | Written Agreement: First American Corporation and First American Bancshares, Inc., Washington, DC |
| Sep 9, 1991 | OCC | The Pittsburg National Bank | Prohibition/Removal Orders: Clemens, Thomas N. |
| Sep 9, 1991 | OCC | First Heritage Bank, National Association | C&D or PC&D Requiring Restitution: Clemens, Thomas N. |
| Sep 9, 1991 | OCC_OTS | Westerly Savings Bank | Supervisory Agreement: Westerly Savings Bank |
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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