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 |
|---|---|---|
| Jul 27, 1991 | Key Bank of Central New York, National Association | KeyBank National Association |
| Jul 27, 1991 | (unnamed) | The Bank of San Diego |
| Jul 27, 1991 | The Oxford Bank | Cornerbank |
| Jul 27, 1991 | Key Bank of Western New York National Association | KeyBank National Association |
| Jul 26, 1991 | Roseville Bancorp, Inc. | Midamerica Bancorporation, Inc. |
| Jul 26, 1991 | Rea Employees Federal Credit Union | Carolina Cooperative Federal Credit Union |
| Jul 25, 1991 | Montrose M C Employees Federal Credit Union | Penn East Federal Credit Union |
| Jul 24, 1991 | Mount Calm Federal Credit Union | Shreveport Federal Credit Union |
| Jul 23, 1991 | First Federal Savings and Loan Association | First Empire Federal Savings and Loan Association |
| Jul 23, 1991 | McKinney Municipal Credit Union | LegacyTexas Bank |
| Jul 22, 1991 | The First National Bank in Dolton | South Holland Trust & Savings Bank |
| Jul 22, 1991 | First Dolton Corp. | South Holland Bancorp, Inc. |
| Jul 20, 1991 | First National Bank of Mt. Zion | The First National Bank of Decatur |
| Jul 19, 1991 | Mobile Radio Employees Credit Union | Safe Federal Credit Union |
| Jul 19, 1991 | Mid-South Bank & Trust Company | SunTrust Bank, Nashville, National Association |
| Jul 19, 1991 | Third Financial Services Incorporated | SunTrust Bank, Nashville, National Association |
| Jul 19, 1991 | Sequoyah State Bank of Muldrow | Armstrong Bank |
| Jul 10, 1991 | Battle Creek Bank | MidAmerica Bank Maplewood |
| Jul 8, 1991 | Syremp Credit Union, Inc. | Tri-County Credit Union, Inc. |
| Jul 1, 1991 | Firstar Hugo Bank | Firstar Bank of Minnesota, National Association |
| Jul 1, 1991 | Ibew Local 270 Fcu | Y-12 Federal Credit Union |
| Jul 1, 1991 | Whitehall Leather Employees Credit Union | Harborlight Credit Union |
| Jul 1, 1991 | King-Lar Employees Credit Union | Staley Credit Union |
| Jul 1, 1991 | Wunda Weave Federal Credit Union | Spero Financial Federal Credit Union |
| Jul 1, 1991 | Lefebure Employees Credit Union | Quaker Oats Employees Credit Union |
| Jul 1, 1991 | First Wisconsin Bank of Waukesha | Firstar Bank Milwaukee, National Association |
| Jul 1, 1991 | First Interstate Bank of Laramie, National Association | First Interstate Bank of Wyoming, National Association |
| Jul 1, 1991 | First Interstate Bank of Riverton, National Association | First Interstate Bank of Wyoming, National Association |
| Jul 1, 1991 | FGL Empl Fcu | Coastline Federal Credit Union |
| Jul 1, 1991 | Alta Bates Federal Credit Union | Cooperative Center Federal Credit Union |
| Jul 1, 1991 | Christian Tabernacle Federal Credit Union | Steel Valley Federal Credit Union |
| Jul 1, 1991 | Firstar Eagan Bank, National Association | Firstar Bank of Minnesota, National Association |
| Jul 1, 1991 | J F & Associates Credit Union | Triangle Credit Union |
| Jul 1, 1991 | Steel Products Employees Credit Union, Inc. | Day Air Credit Union, Inc. |
| Jul 1, 1991 | Uniflow Employees Federal Credit Union | Tri State Rail Federal Credit Union |
| Jul 1, 1991 | Firstar Stillwater Bank, National Association | Firstar Bank of Minnesota, National Association |
| Jul 1, 1991 | First Interstate Bank of Cresco, National Association | Boatmen's Bank of North Iowa |
| Jul 1, 1991 | Guardian Savings & Loan Association | Cape Bank |
| Jul 1, 1991 | Elco Empl Fcu | Blair County Federal Credit Union |
| Jul 1, 1991 | Buena Vista Credit Union | Tucoemas Federal Credit Union |
| Jul 1, 1991 | General Fireproofing Employees Credit Union, Inc. | Seven Seventeen Credit Union Inc |
| Jul 1, 1991 | (unnamed) | The First Citizens National Bank of Upper Sandusky |
| Jul 1, 1991 | I.O.F. Norcal Federal Credit Union | Allied Trades Credit Union |
| Jul 1, 1991 | Aerostructures Empl Fcu | Heritage Credit Union |
| Jul 1, 1991 | Multibank National of Western Massachusetts | MultiBank West |
| Jul 1, 1991 | B C Financial Federal Credit Union | Logix Federal Credit Union |
| Jul 1, 1991 | AMCORE Bank Carpentersville | Amcore Bank National Association, Northwest |
| Jul 1, 1991 | Cleveland-Jackson Sa Cu | Tennessee Valley Federal Credit Union |
| Jul 1, 1991 | Dynalectron Employees Federal Credit Union | Money One Federal Credit Union |
| Jul 1, 1991 | Nashville Kemba Fcu | Ascend 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 |
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