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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
Sep 27, 1991 First Federal Savings Beaumont, TX $251.2M Kilgore FS&LA
Sep 27, 1991 Eastern FS & La of Sayville Sayville, NY $249.5M Bayside FSB
Sep 27, 1991 Nutley Savings & Loan Nutley, NJ $188.6M Valley NB
Sep 27, 1991 Plymouth FSA Plymouth, MA $174.7M Branch sale
Sep 27, 1991 Home FS & La of Harlan Harlan, IA $91.4M Conservative SB FSB
Sep 27, 1991 Midcounty Bank and Trust Company Norwood, MA $62.1M Dedham Institution for Savi
Sep 27, 1991 Gold River SB Fair Oaks, CA $24.1M El Dorado SB
Sep 20, 1991 Bank Five for Savings Arlington, MA $386.6M Cambridge Savings Bank
Sep 20, 1991 Mid-Jersey National Bank Somerville, NJ $29.5M United Jersey Bank/Central
Sep 19, 1991 Southeast Bank, N.A. Miami, FL $11.03B First Union National Bank O
Sep 19, 1991 Abraham Lincoln FSA Dresher, PA $189.1M Branch sale
Sep 19, 1991 Southeast Bank of West Florida Pensacola, FL $97.3M First Union National Bank O
Sep 13, 1991 Davy Crockett FS & La Crockett, TX $50.5M Deposit payout
Sep 13, 1991 Evergreen FS & La Charleston, WV $40.3M Merchants NB of Montgomery
Sep 13, 1991 Valley Bank White River Junction, VT $33.7M Vermont National Bank
Sep 6, 1991 United Home Federal Toledo, OH $443.4M Standard FB
Sep 6, 1991 Suffield Bank Suffield, CT $294.8M First Federal Bank, FSB
Sep 6, 1991 Heartland S & La La Mesa, CA $121.7M Union Bank
Sep 6, 1991 Bay FSB West Palm Beach, FL $58.1M Fidelity FSB of FL
Sep 6, 1991 The Family Bank and Trust Allenstown, NH $46.7M The Valley Bank
Aug 30, 1991 Future Federal Savings Bank Louisville, KY $422.3M Citizens Fidelity B&T
Aug 30, 1991 Lowell Institution for Savings Lowell, MA $386.4M The Family Mutual Savings B
Aug 30, 1991 Homestead FSA Middletown, PA $223.2M Farmers Trust Co.
Aug 30, 1991 Hilton Head Bank & Trust Company Hilton Head Island, SC $64.6M The Anchor Bank
Aug 30, 1991 Hillsborough Bank and Trust Co Milford, NH $49.9M Peterborough Savings Bank
Aug 30, 1991 United FSB Prestonsburg, KY $39.9M Pikeville NB&TC
Aug 29, 1991 First National Bank and Trust Co Blackwell, OK $33.5M Central National Bank & Tru
Aug 29, 1991 The San Saba National Bank San Saba, TX $15.6M First Llano Bank
Aug 23, 1991 Merchants & Mechanics FSB Springfield, OH $209.9M Banc One FSB
Aug 23, 1991 First FS & La Mt. Vernon, OH $73.1M First FS&LA of Wooster
Aug 23, 1991 New Age FSA St. Louis, MO $9.2M Commerce Bank of St. Louis
Aug 22, 1991 Buchel Bank & Trust Co. Cuero, TX $25.0M First Bank
Aug 22, 1991 First Mexia Bank Mexia, TX $22.5M The East Texas National Ban
Aug 16, 1991 First American FSB Tucson, AZ $145.0M State SB, FSB
Aug 16, 1991 Northwest National Bank Fayetteville, AR $29.4M Citizens Bank of Northwest
Aug 16, 1991 Enfield National Bank Enfield, CT $19.0M Savings Institute
Aug 16, 1991 Centre Sa, F.A. Arlington, TX $15.2M American FB, FSB
Aug 9, 1991 Great American FSA San Diego, CA $9.52B Branch sale
Aug 9, 1991 Citytrust Bridgeport, CT $1.92B Chase Manhattan Bank of Con
Aug 9, 1991 Mechanics and Farmers Savings Bank Bridgeport, CT $1.08B Chase Manhattan Bank of Con
Aug 9, 1991 Larchmont FS & La Larchmont, NY $123.8M Peoples Westchester SB
Aug 9, 1991 Bank of South Palm Beaches Hypoluxo, FL $61.3M 1st United Bank
Aug 9, 1991 First FS & La of Thief River Falls Thief River Falls, MN $54.6M No. State BK of Thief Riv.
Aug 9, 1991 Southcoast Bank Corporation West Palm Beach, FL $26.1M —
Aug 2, 1991 Standard FS & La Columbia, SC $319.7M NB of South Carolina
Aug 2, 1991 Coral Coast FSB Boynton Beach, FL $61.2M Mackinac SB, FSB
Jul 26, 1991 Atlantic Financial FSB San Francisco, CA $448.9M Branch sale
Jul 26, 1991 Suburban National Bank Hillsborough TWNS, NJ $91.1M Provident Savings Bank
Jul 26, 1991 The Housatonic Bank & Trust Co Ansonia, CT $69.1M Shelton Savings Bank
Jul 26, 1991 Westland FS & La Rawlins, WY $31.8M Rawlins NB

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
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 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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