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 |
|---|---|---|---|
| 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 |
Browse adjacent years: 1990 · 1992
Or jump to a category: Failures · Mergers · Enforcement · Assistance