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 |
|---|---|---|
| Sep 27, 1991 | First Federal Savings | $251.2M |
| Sep 27, 1991 | Eastern FS & La of Sayville | $249.5M |
| Sep 27, 1991 | Nutley Savings & Loan | $188.6M |
| Sep 27, 1991 | Plymouth FSA | $174.7M |
| Sep 27, 1991 | Home FS & La of Harlan | $91.4M |
| Sep 27, 1991 | Midcounty Bank and Trust Company | $62.1M |
| Sep 27, 1991 | Gold River SB | $24.1M |
| Sep 20, 1991 | Bank Five for Savings | $386.6M |
| Sep 20, 1991 | Mid-Jersey National Bank | $29.5M |
| Sep 19, 1991 | Southeast Bank, N.A. | $11.03B |
| Sep 19, 1991 | Abraham Lincoln FSA | $189.1M |
| Sep 19, 1991 | Southeast Bank of West Florida | $97.3M |
| Sep 13, 1991 | Davy Crockett FS & La | $50.5M |
| Sep 13, 1991 | Evergreen FS & La | $40.3M |
| Sep 13, 1991 | Valley Bank | $33.7M |
| Sep 6, 1991 | United Home Federal | $443.4M |
| Sep 6, 1991 | Suffield Bank | $294.8M |
| Sep 6, 1991 | Heartland S & La | $121.7M |
| Sep 6, 1991 | Bay FSB | $58.1M |
| Sep 6, 1991 | The Family Bank and Trust | $46.7M |
| Aug 30, 1991 | Future Federal Savings Bank | $422.3M |
| Aug 30, 1991 | Lowell Institution for Savings | $386.4M |
| Aug 30, 1991 | Homestead FSA | $223.2M |
| Aug 30, 1991 | Hilton Head Bank & Trust Company | $64.6M |
| Aug 30, 1991 | Hillsborough Bank and Trust Co | $49.9M |
| Aug 30, 1991 | United FSB | $39.9M |
| Aug 29, 1991 | First National Bank and Trust Co | $33.5M |
| Aug 29, 1991 | The San Saba National Bank | $15.6M |
| Aug 23, 1991 | Merchants & Mechanics FSB | $209.9M |
| Aug 23, 1991 | First FS & La | $73.1M |
| Aug 23, 1991 | New Age FSA | $9.2M |
| Aug 22, 1991 | Buchel Bank & Trust Co. | $25.0M |
| Aug 22, 1991 | First Mexia Bank | $22.5M |
| Aug 16, 1991 | First American FSB | $145.0M |
| Aug 16, 1991 | Northwest National Bank | $29.4M |
| Aug 16, 1991 | Enfield National Bank | $19.0M |
| Aug 16, 1991 | Centre Sa, F.A. | $15.2M |
| Aug 9, 1991 | Great American FSA | $9.52B |
| Aug 9, 1991 | Citytrust | $1.92B |
| Aug 9, 1991 | Mechanics and Farmers Savings Bank | $1.08B |
| Aug 9, 1991 | Larchmont FS & La | $123.8M |
| Aug 9, 1991 | Bank of South Palm Beaches | $61.3M |
| Aug 9, 1991 | First FS & La of Thief River Falls | $54.6M |
| Aug 9, 1991 | Southcoast Bank Corporation | $26.1M |
| Aug 2, 1991 | Standard FS & La | $319.7M |
| Aug 2, 1991 | Coral Coast FSB | $61.2M |
| Jul 26, 1991 | Atlantic Financial FSB | $448.9M |
| Jul 26, 1991 | Suburban National Bank | $91.1M |
| Jul 26, 1991 | The Housatonic Bank & Trust Co | $69.1M |
| Jul 26, 1991 | Westland FS & La | $31.8M |
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 |
|---|---|---|
| Nov 1, 1991 | Progressive Federal Savings Bank | Progressive Ozark Bank |
| Nov 1, 1991 | First State Bank of Lyman | The Equality State Bank |
| Nov 1, 1991 | News Corporation Employees Credit Union | Postal & Community Credit Union |
| Oct 31, 1991 | Olin Employees Credit Union of Joliet | Tech Credit Union |
| Oct 31, 1991 | Kemba Little Rock Credit Union | Kemba Delta Federal Credit Union |
| Oct 30, 1991 | Indian Head Mortgage Corp. | Fleet Bank-NH |
| Oct 30, 1991 | Fleet/Norstar Services-NH, Corporation | Fleet Bank-NH |
| Oct 30, 1991 | Indian Head Bank Services Corporation | Fleet Bank-NH |
| Oct 30, 1991 | Jeffrey Employees Credit Union, Inc. | Wright-Patt Credit Union, Inc. |
| Oct 28, 1991 | FirstBank of Minturn | FirstBank of Vail |
| Oct 28, 1991 | Manufacturers Bank of Lansing | Manufacturers Bank, National Association |
| Oct 28, 1991 | FirstBank of Beaver Creek, National Association | FirstBank of Avon |
| Oct 28, 1991 | Manufacturers National Bank of Grand Rapids | Manufacturers Bank, National Association |
| Oct 28, 1991 | Ponce Metropolitan Federal Credit Union | Borinquen Sur Federal Credit Union |
| Oct 28, 1991 | FirstBank of West Vail | FirstBank of Vail |
| Oct 28, 1991 | United Illinois Bank of New Athens | Central Bank |
| Oct 26, 1991 | Century Bank at Broadway | Century Bank |
| Oct 26, 1991 | Callaway Gardens Credit Association Credit Union | Five Star Credit Union |
| Oct 26, 1991 | Heritage Bank of Oak Lawn | Heritage Bank |
| Oct 26, 1991 | Heritage Bank Crestwood | Heritage Bank |
| Oct 26, 1991 | Columbia National Bank-Belmont | Columbia National Bank of Chicago |
| Oct 26, 1991 | (unnamed) | Heritage Bank |
| Oct 25, 1991 | Sioux Quality Credit Union | Telco Triad Community Credit Union |
| Oct 24, 1991 | BayBank First Easthampton, N.A. | BayBank, National Association |
| Oct 24, 1991 | BayBank Harvard Trust Company | BayBank, National Association |
| Oct 24, 1991 | BayBank South | BayBank, National Association |
| Oct 24, 1991 | BayBank Valley Trust Company | BayBank, National Association |
| Oct 23, 1991 | Americorp, Inc. | Ameribank Corporation |
| Oct 23, 1991 | Randolph County FS&LA | First State Bank & Trust Company |
| Oct 21, 1991 | MCS Employees Credit Union, Inc. | The Ohio Educational Credit Union, Inc. |
| Oct 19, 1991 | Hannibal Mutual Loan and Building Association | Roosevelt Bank |
| Oct 18, 1991 | Boatmen's National Bank of Richmond | Boatmen's River Valley Bank |
| Oct 18, 1991 | Exchange Bank of Schmidt & Koester | Gold Bank |
| Oct 12, 1991 | First Community Industrial Bank of Lakewood | First Community Industrial Bank |
| Oct 12, 1991 | First Community Industrial Bank | First Community Industrial Bank |
| Oct 12, 1991 | American Industrial Bank of Aurora | First Community Industrial Bank |
| Oct 12, 1991 | The State Bank of Kirkland | The Belvidere National Bank and Trust Company |
| Oct 12, 1991 | U.S. Shoe Employees Federal Credit Union | Members Trust Federal Credit Union |
| Oct 12, 1991 | First Community Industrial Bank of Longmont | First Community Industrial Bank |
| Oct 12, 1991 | American Industrial Bank of Arvada | First Community Industrial Bank |
| Oct 12, 1991 | First Community Industrial Bank of Littleton | First Community Industrial Bank |
| Oct 12, 1991 | American Industrial Bank of Lakewood | First Community Industrial Bank |
| Oct 12, 1991 | First Community Industrial Bank of Fort Collins | First Community Industrial Bank |
| Oct 11, 1991 | First National Bank | Team Bank |
| Oct 10, 1991 | Bank of Speedwell, Inc. | Premier Bank-South, National Association |
| Oct 9, 1991 | Milton Tri-County Bank | Huntington Bank Huntington National Association |
| Oct 8, 1991 | Scott Methodist Credit Union | Credit Union One |
| Oct 7, 1991 | Basf Fibers Employees Federal Credit Union | 1st Advantage Federal Credit Union |
| Oct 7, 1991 | Widmer Bancshares, Inc. | Widmer Bancshares, Inc. |
| Oct 5, 1991 | Bank of San Clemente | Eldorado Bank |
The list holds 500 of the 953 mergers recorded for 1991.
Enforcement Actions in 1991
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Dec 31, 1991 | OCC_OTS | (individual) | Cease and Desist: Harley Havard |
| Dec 31, 1991 | OCC_OTS | First Federal Savings and Loan Association | Orders of Removal/Prohibition: W. T. Freeman |
| Dec 31, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: William M. Lowry |
| Dec 31, 1991 | OCC_OTS | Essex Financial Group | Supervisory Agreement: Essex Financial Group, Inc. |
| Dec 31, 1991 | OCC_OTS | Palmetto Bancshares, Inc. | Supervisory Agreement: Palmetto Federal Savings Bank |
| Dec 31, 1991 | OCC_OTS | Slovenian Savings & Loan Association of Franklin-Conemaugh | Supervisory Agreement: Slovenian Savings and Loan of Franklin-Conemaugh |
| Dec 31, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Victor Crimone |
| Dec 31, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Leonard Skirboll |
| Dec 31, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Herman F. Knell |
| Dec 31, 1991 | OCC_OTS | First Federal Savings and Loan Association | Orders of Removal/Prohibition: Harley Havard |
| Dec 31, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Angelo Cafaro |
| Dec 31, 1991 | OCC_OTS | (individual) | Civil Money Penalty: Maria Antonieta Silva de Pimienta |
| Dec 31, 1991 | OCC_OTS | First Federal Savings Bank | Civil Money Penalty: Hugo E. Pimienta |
| Dec 31, 1991 | OCC_OTS | (individual) | Cease and Desist: W. T. Freeman |
| Dec 31, 1991 | OCC_OTS | First Federal Savings Bank | Cease and Desist: Hugo e. Pimienta |
| Dec 30, 1991 | OCC_OTS | First Federal Savings and Loan Association | Orders of Removal/Prohibition: Charles Persons |
| Dec 30, 1991 | OCC_OTS | Windsor Locks Savings and Loan Association | Supervisory Agreement: Windsor Locks Savings and Loan Association |
| Dec 30, 1991 | OCC_OTS | (individual) | Civil Money Penalty: Louis Dungan |
| Dec 30, 1991 | OCC | National Bank of Fairhaven | Formal Agreement: National Bank of Fairhaven |
| Dec 27, 1991 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Clay W. Stone |
| Dec 24, 1991 | OCC_OTS | Colorado Springs Savings and Loan Association | Civil Money Penalty: Colorado Springs Savings and Loan Association |
| Dec 24, 1991 | FRB | B.M.J. Financial Corp. | Written Agreement: Bank of Mid-Jersey and B.M.J. Financial Corp., Bordentown, NJ |
| Dec 23, 1991 | OCC_OTS | (individual) | Civil Money Penalty: First Savings Bank, A Federal Savings Bank |
| Dec 23, 1991 | FRB | Hibernia Corporation | Written Agreement: Hibernia Corporation, New Orleans, LA |
| Dec 23, 1991 | OCC_OTS | Equitec Financial Group, Inc | Civil Money Penalty: Joseph Ranzini |
| Dec 21, 1991 | OCC_OTS | Cherry Grove Savings Bank | Supervisory Agreement: Cherry Grove Savings Bank |
| Dec 20, 1991 | OCC_OTS | Central Pennsylvania Financial | Supervisory Agreement: Central Pennsylvania Financial Corporation |
| Dec 20, 1991 | OCC_OTS | Central Pennsylvania Savings Association, F.A. | Cease and Desist: Central Pennsylvania Savings Association |
| Dec 20, 1991 | FRB | (individual) | Cease and Desist Order: Blaine S. Correll |
| Dec 20, 1991 | FRB | Bcci Holdings (Luxembourg) S.A. | Cease and Desist Order: Khusro Elley |
| Dec 20, 1991 | OCC_OTS | First Federal Savings & Loan Association of Harrisburg | Supervisory Agreement: First Federal Savings and Loan Association of Harrisburg |
| Dec 20, 1991 | FRB | (individual) | Cease and Desist Order: Ljubljanska Banka d.d., Ljubljana, Yugoslavia |
| Dec 20, 1991 | OCC | Bank of Arkansas | Formal Agreement: National Bank Of Arkansas |
| Dec 20, 1991 | OCC | Fort Knox National Bank | Formal Agreement: Fort Knox National Bank |
| Dec 20, 1991 | OCC | Deutsche Bank National Trust Company | Civil Money Penalty (CMP): Bankers Trust Of California, N.A. |
| Dec 19, 1991 | FRB | Bank of Ireland First Holdings, Inc. | Written Agreement: The Governor and Company of The Bank of Ireland, Dublin, Ireland and … |
| Dec 19, 1991 | OCC | Security Bank, N.A. | Formal Agreement: Security Bank, National Association |
| Dec 19, 1991 | OCC | The Blanco National Bank | Civil Money Penalty (CMP): Stevenson, John B. |
| Dec 19, 1991 | OCC_OTS | Newport Savings and Loan Association | Cease and Desist: Newport Savings and Loan Association |
| Dec 19, 1991 | OCC_OTS | US Community Savings Bank | Supervisory Agreement: US Community Savings Bank, FSB |
| Dec 19, 1991 | FRB | West Coast Bank | Written Agreement: West Coast Bank, Sarasota, FL |
| Dec 19, 1991 | FRB | Val Cor Bancorporation, Inc. | Written Agreement: Val Cor Bancorporation, Cortez, CO |
| Dec 18, 1991 | OCC | Sears National Bank | Formal Agreement: American National Bank of Arizona |
| Dec 18, 1991 | OCC | Enterprise National Bank of Tampa | Formal Agreement: Enterprise National Bank Of Tampa |
| Dec 18, 1991 | FRB | First Prairie Bankshares, Inc. | Written Agreement: First Prairie Bankshares, Inc., Georgetown, IL |
| Dec 17, 1991 | OCC_OTS | Regal Bancorp, Inc. | Supervisory Agreement: Regal Savings Bank, FSB |
| Dec 16, 1991 | OCC_OTS | First Trade Union Capital Trust I | Supervisory Agreement: First Trade Union Savings Bank FSB |
| Dec 16, 1991 | OCC_OTS | First Federal Savings Bank of Maryville | Supervisory Agreement: First Federal Savings Bank of Maryville |
| Dec 16, 1991 | OCC | Ozarks National Bank | Formal Agreement: Ozarks National Bank |
| Dec 16, 1991 | OCC | First National Bank of Callaway County | Formal Agreement: First National Bank Of Callaway County |
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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