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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
Dec 20, 1991 North Ridge Bank Oakland Park, FL $94.3M Intercontinental Bank
Dec 13, 1991 Investors FSB Richmond, VA $2.06B Central Fidelity Bank
Dec 13, 1991 The Bank Mart Bridgeport, CT $578.2M Gateway Bank
Dec 13, 1991 Merchants National Bank Leominster, MA $153.6M Worcester County Institutio
Dec 13, 1991 Bank of East Hartford East Hartford, CT $36.6M Bank of South Windsor
Dec 13, 1991 Federal Finance & Mortgage, LTD Honolulu, HI $7.7M First Hawaiian Credit Corp
Dec 12, 1991 Granite Co-Operative Bank Quincy, MA $103.8M South Boston Savings Bank
Dec 6, 1991 Saybrook Bank and Trust Company Old Saybrook, CT $77.3M The New Haven Savings Bank
Nov 26, 1991 First National Bank of Miami Miami, FL $40.5M Ready State Bank
Nov 22, 1991 White Horse FS & La Trenton, NJ $72.5M Collective FSB
Nov 22, 1991 Chase Savings & Loan Philadelphia, PA $46.9M United Bank of Philadelphia
Nov 22, 1991 Peoples FSA Ottumwa, IA $34.3M South Ottumwa SB
Nov 22, 1991 Western FS & La Clenview, IL $33.2M Devon Bank
Nov 15, 1991 Durham Trust Company Durham, NH $71.0M Granite Bank
Nov 14, 1991 Connecticut Savings Bank New Haven, CT $1.04B Centerbank
Nov 14, 1991 Worthington State Bank Worthington, IN $36.6M First Farmers State Bank
Nov 14, 1991 Alvarado National Bank Alvarado, TX $9.2M The First National Bank in
Nov 8, 1991 Cobb FSA Marietta, GA $83.2M First Union NB of GA
Nov 8, 1991 Delta FSB Westminster, CA $52.4M East-West FB, FSB
Nov 7, 1991 Community National Bank and Trust New York, NY $333.8M Chemical Bank
Nov 1, 1991 Marine View FSB Middletown, NJ $119.2M Summit Bank
Oct 31, 1991 Union Bank San Antonio, TX $84.9M Channelview Bank
Oct 30, 1991 Bank of the South Baton Rouge, LA $31.8M The First National Bank in
Oct 29, 1991 The Private Bank & Trust, Nation Miami, FL $4.3M —
Oct 25, 1991 Coolidge Bank and Trust Company Boston, MA $321.2M Pioneer Financial, a Cooper
Oct 25, 1991 First Hanover Bank Wilmington, NC $48.2M Central Carolina Bank and T
Oct 25, 1991 The Citizens Bank of Pagosa Springs Pagosa Springs, CO $17.3M Citizens Bank of Pagosa SPR
Oct 24, 1991 First National Bank, Bedford Bedford, TX $23.2M First International Bank
Oct 18, 1991 Central Bank Meriden, CT $654.7M Centerbank
Oct 18, 1991 Mission Valley Bank, National Assoc San Clemente, CA $42.7M Mid City Bank, National Ass
Oct 18, 1991 Connecticut Valley Bank Cromwell, CT $28.4M Midconn Bank
Oct 16, 1991 First FS & La Pontiac, MI $917.0M Branch sale
Oct 16, 1991 Citizens FSA Jacksonville, FL $65.7M Branch sale
Oct 13, 1991 Oaktree Federal Savings New Orleans, LA $2.21B Branch sale
Oct 11, 1991 The First, Federal Association Orlando, FL $1.07B Great Western Bank, FSB
Oct 11, 1991 First Federal Savings Lubbock, TX $223.7M First NB of Lubbock
Oct 11, 1991 Life FSB Clearwater, FL $107.6M Life SB, FSB
Oct 11, 1991 Iona Savings Bank Tilton, NH $31.2M First Savings and Loan Asso
Oct 10, 1991 New Hampshire Savings Bank Concord, NH $1.17B New Dartmouth Bank
Oct 10, 1991 Amoskeag Bank Manchester, NH $937.3M First NH Bank
Oct 10, 1991 Dartmouth Bank Manchester, NH $877.2M New Dartmouth Bank
Oct 10, 1991 Bankeast Manchester, NH $816.8M First NH Bank
Oct 10, 1991 Numerica Savings Bank, FSB Manchester, NH $509.1M New Dartmouth Bank
Oct 10, 1991 Nashua Trust Company Nashua, NH $425.1M First NH Bank
Oct 10, 1991 Homebank FSA Gilford, NH $255.1M Branch sale
Oct 10, 1991 Bank Meridian, N.A. Hampton, NH $109.4M First NH Bank
Oct 3, 1991 Harbor National Bank of Connecticut Branford, CT $22.9M The New Haven Savings Bank
Oct 3, 1991 Reagan State Bank Big Lake, TX $20.3M Security State Bank
Sep 27, 1991 United Savings of America Chicago, IL $1.16B First NB of Chicago
Sep 27, 1991 Santa Paula S & La Santa Paula, CA $280.7M Bank of Levy

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
Oct 2, 1991 Washburn Bancshares, Inc. IL Alpha Financial Group, Inc.
Oct 1, 1991 Alprodco Employees Credit Union TX Peco Federal Credit Union
Oct 1, 1991 The Northern Trust Company of Texas TX Northern Trust Bank of Texas National Association
Oct 1, 1991 Morgan Community Bancorp, Inc. IL First of America Bancorporation-Illinois, Inc.
Oct 1, 1991 Whitfield County Postal Employees Credit Union GA Georgia United Credit Union
Oct 1, 1991 Fresno Bee Credit Union CA McClatchy Employees Credit Union
Oct 1, 1991 Mellon Bank (North) National Association PA BNY Mellon, N.A.
Oct 1, 1991 Southern Missouri Bank MO (unnamed)
Oct 1, 1991 Mellon Bank (Central) N.A. PA BNY Mellon, N.A.
Oct 1, 1991 The Wellston State Bank OK Stroud National Bank
Oct 1, 1991 Lutheran General Federal Credit Union IL Encurage Financial Network
Oct 1, 1991 Bud-Jax Federal Credit Union FL Coastline Federal Credit Union
Oct 1, 1991 Occom Federal Credit Union NH Service Federal Credit Union
Oct 1, 1991 Cin-Tronics Employees Federal Credit Union OH Emery Federal Credit Union
Oct 1, 1991 Norstar Bank of Central NY NY Fleet Bank
Oct 1, 1991 Va Medical Center Federal Credit Union OK Oklahoma Federal Credit Union
Oct 1, 1991 Gaico Credit Union TX Resource One Credit Union
Oct 1, 1991 The First State Bank of New Rockford ND Bank Forward
Oct 1, 1991 Hillsborough CNTY Hosp Auth Empl Fcu FL Grow Financial Federal Credit Union
Oct 1, 1991 State Savings Bank IA Lincoln Savings Bank
Oct 1, 1991 Emprise Bank, National Association KS Emprise Bank National Association
Oct 1, 1991 Bithulithic Employees Credit Union TX Relyon Credit Union
Oct 1, 1991 K.C. Federal Credit Union KY L&N Federal Credit Union
Oct 1, 1991 The South Side Savings Bank, FSB OH Liberty Savings Bank, F.S.B.
Oct 1, 1991 Shelby Federal Savings Bank IN First of America Bank-Indiana
Oct 1, 1991 Horizon Savings Bank, S.A. WI The Equitable Bank, S.S.B.
Oct 1, 1991 Midlantic National Bank/North NJ (unnamed)
Oct 1, 1991 Borax Employees Federal Credit Union CA Logix Federal Credit Union
Oct 1, 1991 Pdea Federal Credit Union SC S.C. State Federal Credit Union
Oct 1, 1991 66 Credit Union MN Blaze Credit Union
Oct 1, 1991 Grandview Savings Association PA Parkvale Savings Bank
Oct 1, 1991 Sea Seven Federal Credit Union FL Navy Federal Credit Union
Oct 1, 1991 Plains Creamery Employees Credit Union TX BNSF Credit Union
Oct 1, 1991 Western Atlantic Credit Union TX Advancial Federal Credit Union
Oct 1, 1991 Gladstone Community Federal Credit Union MI Great Lakes First Federal Credit Union
Oct 1, 1991 Postal Credit Union of Galveston TX Coastal Community Federal Credit Union
Oct 1, 1991 K W Employees Federal Credit Union IN Profed Federal Credit Union
Oct 1, 1991 Pope Federal Credit Union NC Pentagon Federal Credit Union
Oct 1, 1991 Salt Workers Credit Union UT Cyprus Federal Credit Union
Oct 1, 1991 Strafford National Bank NH Bank of New Hampshire, National Association
Oct 1, 1991 Buckner Associates Credit Union TX Lone Star Credit Union
Oct 1, 1991 The Commonwealth National Bank PA BNY Mellon, N.A.
Oct 1, 1991 Park West State Bank TX Southwest Bank
Oct 1, 1991 BL&F Federal Credit Union PA Pannonia Federal Credit Union
Oct 1, 1991 Morgan County Community Bank IL First of America Bank - Springfield, National Association
Oct 1, 1991 The Suncook Bank NH Bank of New Hampshire, National Association
Oct 1, 1991 Union Pacific-Western Division Federal Credit Union CA Sea West Coast Guard Federal Credit Union
Oct 1, 1991 Hines Federal Credit Union IL U.S. Employees Credit Union
Oct 1, 1991 Northern Maine Credit Union ME Norstate Federal Credit Union
Oct 1, 1991 Farmers & Merchants Bank of Wimbledon ND Bank Forward

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 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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