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Calendar Year

1994 in US Banking

1,728 bank events are on record for 1994: 15 failures, 1,234 mergers or acquisitions involving a bank, credit union or bank holding company, and 479 enforcement actions.

15
Failures
$1.60B in failed assets
1,234
Mergers
Federal Reserve NIC, banking organizations
479
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings

Jump to: Bank failures 1994 · Bank mergers 1994

How many banks failed in 1994?

15 banks failed in 1994, with $1.60B in assets. Each failure below links to its own page.

Date Bank HQ Assets Acquirer or resolution
Dec 16, 1994 Cornerstone Bank FSB Mission Viejo, CA $44.3M California FB, a FSB
Oct 21, 1994 Ludlow Savings Bank Ludlow, MA $222.7M Albany Savings Bank FSB
Aug 26, 1994 Capital Bank Downey, CA $76.9M Landmark Bank
Aug 12, 1994 Bank of Newport Newport Beach, CA $167.8M Union Bank
Jul 29, 1994 Commerce Bank Newport Beach, CA $142.3M California State Bank
Jul 29, 1994 Western Community Bank Corona, CA $54.0M Bank of San Bernardino
Jul 15, 1994 Bank of San Pedro Los Angeles, CA $132.6M Home Bank
Jul 8, 1994 Pioneer Bank Fullerton, CA $133.2M Chino Valley Bank
Jul 7, 1994 The Meriden Trust and Safe Deposit Meriden, CT $3.2M People's Savings Bank & Tru
Jun 10, 1994 The Bank of Hartford Hartford, CT $321.5M Eagle Federal Savings Ba
Jun 3, 1994 Encino Savings Bank, FSB Encino, CA $92.5M American SB, F.A.
May 19, 1994 Barbary Coast National Bank San Francisco, CA $10.7M Metropolitan Bank
May 6, 1994 Commercial Bank and Trust Company Lowell, MA $30.3M Medford Savings Bank
Apr 14, 1994 Superior National Bank Kansas City, MO $20.0M Citizens-Jackson County Ban
Apr 1, 1994 Mechanics National Bank Paramount, CA $148.7M Home Bank

Which banks merged in 1994?

1,234 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1994.

See the fuller list: Bank mergers 1994 with largest deals and credit union mergers ›

Date Acquired St Acquirer
Nov 1, 1994 State Bank of Fayette IA Farmers State Bank
Nov 1, 1994 American Savings Bank PA Keystone Financial Bank, National Association
Nov 1, 1994 Florida Tile Federal Credit Union FL Midflorida Credit Union
Nov 1, 1994 BMC Bankcorp, Inc. KY CBT Corporation
Nov 1, 1994 United Family Credit Union IA Greenstate Credit Union
Nov 1, 1994 Hubbell Bank NE State Bank of Chester
Nov 1, 1994 Charter Federal Savings Bank NJ Santander Bank, N.A.
Nov 1, 1994 Coffee County Bank AL Community Bank and Trust of Southeast Alabama
Nov 1, 1994 Grain Dealers Mutual Credit Union IN Forum Credit Union
Nov 1, 1994 Home Federal Savings Bank DC First Union National Bank of Washington, D.C.
Nov 1, 1994 United Retailers Federal Credit Union NE Metro Cu Federal Credit Union
Nov 1, 1994 Win-Glen Federal Credit Union PA Lebanon Federal Credit Union
Nov 1, 1994 The First National Bank of Guymon OK Gold BANK
Nov 1, 1994 Springfield Savings & Loan Association VT Brattleboro Savings & Loan Association
Nov 1, 1994 E E S C O Employees Credit Union IL Vicinity Credit Union
Nov 1, 1994 Ram Golf Employees Federal Credit Union IL Access Credit Union
Nov 1, 1994 Sacramento Savings Bank CA First Interstate Bank of California
Nov 1, 1994 Dover School Employees Cu PA York Educational Federal Credit Union
Oct 31, 1994 Mt Olivet Baptist Federal Credit Union NJ New Community Federal Credit Union
Oct 31, 1994 Bank IV Financial Services, Inc KS Fourth Financial Corporation
Oct 28, 1994 Taca Airlines Empl Fcu LA New Orleans Firemens Federal Credit Union
Oct 27, 1994 Peter J. Schmitt Co. Inc. Federal Credit Union NY Cornerstone Community Federal Credit Union
Oct 24, 1994 First National Bank in Harper KS American Bank
Oct 24, 1994 WesBanco Bank Morgantown, Inc. WV WesBanco Bank Fairmont, Inc.
Oct 24, 1994 Bank of Menomonie WI Bremer Bank, National Association
Oct 22, 1994 M&I Western State Bank WI Associated Bank, National Association
Oct 22, 1994 The First State Bank of Wiggins CO Independent Bank
Oct 22, 1994 Ocean Independent Bank NJ First Dewitt Bank
Oct 21, 1994 First Fidelity Bank, National Association NJ First Fidelity Bank, National Association, New Jersey
Oct 21, 1994 Palace Quality Federal Credit Union MI Zeal Credit Union
Oct 21, 1994 Sun Bank of Gainesville FL SunTrust Bank, North Central Florida
Oct 19, 1994 Surgi Credit Federal Credit Union CT General Electric Employees Federal Credit Union
Oct 18, 1994 Spot Sales Employees Credit Union MO St. Louis Community Credit Union
Oct 18, 1994 First Southeast Banking Corp. WI Firstar Corporation of Wisconsin
Oct 17, 1994 OMNIBANK Arapahoe CO OMNIBANK Southeast
Oct 15, 1994 Oxford Bank IL Bank One, National Association
Oct 15, 1994 Boatmen's Bank of Marengo IA Boatmen's Bank Iowa, National Association
Oct 15, 1994 Boatmen's Bank of Kalona IA Boatmen's Bank Iowa, National Association
Oct 15, 1994 Heritage Bank Midlothian IL Heritage Bank
Oct 15, 1994 Plaistow Bank and Trust Company NH The Family Savings Bank of New Hampshire
Oct 15, 1994 Merchandise National Bank of Chicago IL Old Kent Bank
Oct 15, 1994 United American Bank CA GBC International Bank
Oct 15, 1994 EdgeMark Bank - Lombard IL Old Kent Bank
Oct 15, 1994 Hampton Park Corporation IL First Chicago Corporation
Oct 15, 1994 Boatmen's Bank of Sigourney IA Boatmen's Bank Iowa, National Association
Oct 15, 1994 The Davis National Bank of Mullins SC First National South
Oct 15, 1994 Yorktown Community Bank TX The First National Bank of Beeville
Oct 15, 1994 EdgeMark Bank - Rosemont IL Old Kent Bank
Oct 15, 1994 Boatmen's Bank of Sioux City IA Boatmen's Bank Iowa, National Association
Oct 15, 1994 Profile Financial Corporation NH Family Bancorp of New Hampshire

The list holds 500 of the 1,234 mergers recorded for 1994.

Enforcement Actions in 1994

Action date Agency Institution Action
Jan 11, 1994 OCC Sears National Bank Civil Money Penalty (CMP): Keyes, Robert E.
Jan 11, 1994 OCC Luzerne National Bank Corporation Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Luzerne National Bank
Jan 10, 1994 OCC First National Bank in Kaufman Prohibition/Removal Orders: Lowder, Paul
Jan 7, 1994 FRB Bcci Holdings (Luxembourg) S.A. Written Agreement: H.H. Sheikh Sultan bin Zayed Al-Nahyan
Jan 7, 1994 FRB Bcci Holdings (Luxembourg) S.A. Written Agreement: Members of the Board of Directors of the Abu Dhabi Investment Authority
Jan 7, 1994 OCC_OTS Landis Savings and Loan Association Supervisory Agreement: Landis Savings Bank SLA
Jan 7, 1994 FRB Bcci Holdings (Luxembourg) S.A. Written Agreement: Abu Dhabi Department of Finance
Jan 7, 1994 FRB Bcci Holdings (Luxembourg) S.A. Written Agreement: Abu Dhabi Investment Authority
Jan 7, 1994 FRB Bcci Holdings (Luxembourg) S.A. Written Agreement: Department of Private Affairs of Sheikh Zayed bin Sultan Al-Nahyan
Jan 7, 1994 FRB Bcci Holdings (Luxembourg) S.A. Written Agreement: H.H. Sheikh Khalifa bin Zayed Al-Nahyan
Jan 7, 1994 FRB Bcci Holdings (Luxembourg) S.A. Written Agreement: H.H. Sheikh Mohammed bin Zayed Al-Nahyan
Jan 7, 1994 FRB Bcci Holdings (Luxembourg) S.A. Written Agreement: Sheikh Zayed bin Sultan Al-Nahyan
Jan 6, 1994 OCC West Columbia National Bank Prohibition/Removal Orders: Neff, Michael V.
Jan 6, 1994 OCC Park Forty-Five National Bank Prohibition/Removal Orders: Williams, Larry B.
Jan 6, 1994 OCC Central National Bank of New York Civil Money Penalty (CMP): Cortellesi, Jerome P.
Jan 6, 1994 OCC College Boulevard National Bank Civil Money Penalty (CMP): Katz, Ward A.
Jan 6, 1994 OCC Park Forty-Five National Bank Civil Money Penalty (CMP): Anderson, Gordon M.
Jan 6, 1994 OCC Park Forty-Five National Bank Civil Money Penalty (CMP): Williams, Larry B.
Jan 6, 1994 OCC College Boulevard National Bank Civil Money Penalty (CMP): Zeinfeld, Seymour
Jan 6, 1994 OCC Citizens National Bank Prohibition/Removal Orders: Allen, Neil E.
Jan 6, 1994 OCC Central National Bank of New York Prohibition/Removal Orders: Cortellesi, Jerome P.
Jan 4, 1994 OCC Barbary Coast National Bank Civil Money Penalty (CMP): Collins-Lancaster, Patricia
Jan 4, 1994 OCC Park Forty-Five National Bank Civil Money Penalty (CMP): Dube, Clarence O.
Jan 3, 1994 FRB United London Group, Inc. Prohibition from Banking: Marlen V. Johnson
Jan 3, 1994 OCC_OTS (individual) Cease and Desist: Carter C. Green
Jan 3, 1994 OCC_OTS Plaza Savings and Loan Association Cease and Desist: Centrust Financial
Jan 3, 1994 OCC_OTS (individual) Orders of Removal/Prohibition: Carter C. Green
Jan 3, 1994 OCC_OTS (individual) Orders of Removal/Prohibition: Centrust Financial
Jan 3, 1994 FRB (individual) Civil Money Penalty $4,000: Founders' Bank, Bryn Mawr, PA

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