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 | Assets |
|---|---|---|
| Dec 16, 1994 | Cornerstone Bank FSB | $44.3M |
| Oct 21, 1994 | Ludlow Savings Bank | $222.7M |
| Aug 26, 1994 | Capital Bank | $76.9M |
| Aug 12, 1994 | Bank of Newport | $167.8M |
| Jul 29, 1994 | Commerce Bank | $142.3M |
| Jul 29, 1994 | Western Community Bank | $54.0M |
| Jul 15, 1994 | Bank of San Pedro | $132.6M |
| Jul 8, 1994 | Pioneer Bank | $133.2M |
| Jul 7, 1994 | The Meriden Trust and Safe Deposit | $3.2M |
| Jun 10, 1994 | The Bank of Hartford | $321.5M |
| Jun 3, 1994 | Encino Savings Bank, FSB | $92.5M |
| May 19, 1994 | Barbary Coast National Bank | $10.7M |
| May 6, 1994 | Commercial Bank and Trust Company | $30.3M |
| Apr 14, 1994 | Superior National Bank | $20.0M |
| Apr 1, 1994 | Mechanics National Bank | $148.7M |
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 | Acquirer |
|---|---|---|
| Aug 16, 1994 | Sterling Bank | Fleet Bank of Massachusetts, National Association |
| Aug 16, 1994 | United National Corporation | United National Corporation |
| Aug 16, 1994 | Sterling Bancshares Corporation | Fleetboston Financial Corporation |
| Aug 15, 1994 | OMNIBANK University Hills | OMNIBANK Southeast |
| Aug 15, 1994 | OMNIBANK Arvada | OMNIBANK Southeast |
| Aug 13, 1994 | The Lincoln Savings Bank, FSB | Anchor Savings Bank, FSB |
| Aug 12, 1994 | C.B. Bancshares, Inc. | Mark Twain Bancshares, Inc. |
| Aug 11, 1994 | Handy Andy Employee Federal Credit Union | Credit Human Federal Credit Union |
| Aug 11, 1994 | (unnamed) | Bank Midwest, N.A. |
| Aug 8, 1994 | Bedford National Bank | First National Bank of Grapevine |
| Aug 6, 1994 | Shadow Lawn Savings Bank, SLA | Santander Bank, N.A. |
| Aug 5, 1994 | Edgecomb Homestead Savings Bank, Inc., SSB | First-Citizens Bank & Trust Company |
| Aug 4, 1994 | Brunswick Federal Credit Union | Teachers Federal Credit Union |
| Aug 4, 1994 | Lockwood Banc Group, Incorporated | Comerica Texas Incorporated |
| Aug 3, 1994 | Erick Bancorporation, Inc. | Erick Bancshares, Inc. |
| Aug 1, 1994 | Merced Bank of Commerce | Valliwide Bank |
| Aug 1, 1994 | Wassaic Federal Credit Union | Bridgeway Federal Credit Union |
| Aug 1, 1994 | Alliance National Bank and Trust Company | First National Bank |
| Aug 1, 1994 | Husser Community Credit Union | La Capitol Federal Credit Union |
| Aug 1, 1994 | Industrial Credit Union of Nashville | Old Hickory Credit Union |
| Aug 1, 1994 | Pierce County Bank and Trust Company | M&I Community State Bank |
| Aug 1, 1994 | MidAmerica Bank Stoughton | MidAmerica Bank |
| Aug 1, 1994 | Valley Bank, Menomonie | M&I Community State Bank |
| Aug 1, 1994 | Bancflorida, A Federal Savings Bank | First Union National Bank of Florida |
| Aug 1, 1994 | A&P Tea Federal Credit Union | Suburban Federal Credit Union |
| Aug 1, 1994 | Valley Bank | M&I Marshall and Ilsley Bank |
| Aug 1, 1994 | Bay Savings Bank FSB | First Federal of Michigan |
| Aug 1, 1994 | Mid Maine Savings Bank F.S.B. | TD Bank, N.A. |
| Aug 1, 1994 | M&I Greater Milwaukee Bank | M&I Marshall and Ilsley Bank |
| Aug 1, 1994 | Hometown Bancshares, Inc. | Commercial Bancshares, Incorporated |
| Aug 1, 1994 | (unnamed) | M&I Lake Country Bank |
| Aug 1, 1994 | Ridgewood Area Schools Credit Union | Leyden Credit Union |
| Aug 1, 1994 | The First National Bank of Kensington | Farmers National Bank |
| Aug 1, 1994 | First Continental Bancshares, Inc. | Hibernia Corporation |
| Aug 1, 1994 | M&I Wauwatosa State Bank | M&I Marshall and Ilsley Bank |
| Aug 1, 1994 | Chevron Socal Credit Union | Chevron Federal Credit Union |
| Aug 1, 1994 | Flagg Employees Federal Credit Union | Tri County Area Federal Credit Union |
| Aug 1, 1994 | First Bancorp of Louisiana, Inc. | Hibernia Corporation |
| Aug 1, 1994 | First National Bank of West Monroe | Capital One, N.A. |
| Aug 1, 1994 | Capital Savings Bank, Federal Savings Bank | Washington Federal Savings Bank |
| Aug 1, 1994 | Southern National Bank at Tallulah | Capital One, N.A. |
| Aug 1, 1994 | M&I Greater Waukesha | M&I Lake Country Bank |
| Aug 1, 1994 | Valley Bank | M&I Bank of Southern Wisconsin |
| Aug 1, 1994 | First National Bank of Jefferson Parish | Capital One, N.A. |
| Jul 31, 1994 | Midwest Insurance Services, Inc. | Bank Midwest, Minnesota Iowa, National Association |
| Jul 31, 1994 | Augusta Financial Group, Inc. | Wells Fargo Bank Texas, National Association |
| Jul 31, 1994 | E P B P Federal Credit Union | Garden Savings Federal Credit Union |
| Jul 31, 1994 | T & B Federal Credit Union | L'Oreal USA Federal Credit Union |
| Jul 30, 1994 | Citizens Federal Savings Bank | Trans Financial Bank of Tennessee, Federal Savings Bank |
| Jul 30, 1994 | Southern Ocean State Bank | Sun National Bank |
The list holds 500 of the 1,234 mergers recorded for 1994.
Enforcement Actions in 1994
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Nov 17, 1994 | OCC | Western Family National Bank | Prohibition/Removal Orders: McMahan, Richard A. |
| Nov 17, 1994 | OCC | Western Family National Bank | Prohibition/Removal Orders: McMahan, R. Roderick |
| Nov 17, 1994 | OCC | Western Family National Bank | Civil Money Penalty (CMP): McMahan, Richard A. |
| Nov 17, 1994 | OCC | Western Family National Bank | Civil Money Penalty (CMP): McMahan, R. Roderick |
| Nov 17, 1994 | OCC | Western Family National Bank | Civil Money Penalty (CMP): McMahan, Joanne S. |
| Nov 17, 1994 | FRB | Manufacturers Hanover Corporation | Prohibition from Banking: Daniel Young |
| Nov 15, 1994 | OCC_OTS | Valley River Trail Limited | Orders of Removal/Prohibition: Rolando J. Medina Jr. |
| Nov 15, 1994 | OCC_OTS | Republic Bank & Trust Company | Cease and Desist: Bernard M. Trager |
| Nov 15, 1994 | OCC_OTS | Republic Bank & Trust Company | Cease and Desist: Steven Trager |
| Nov 8, 1994 | OCC_OTS | University Bancshares, Inc. | Orders of Removal/Prohibition: J. Richard Collier |
| Nov 3, 1994 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Maria A. Haraus |
| Nov 3, 1994 | OCC | Credit One Bank, N.A. | Civil Money Penalty (CMP): Rice, Alvin C. |
| Nov 3, 1994 | OCC | Credit One Bank, N.A. | Prohibition/Removal Orders: Rice, Alvin C. |
| Nov 2, 1994 | FRB | CBC Bancorp, Inc. | Written Agreement: CBC Bancorp, Inc., New Haven, CT |
| Oct 27, 1994 | OCC | The First National Bank of Gatlinburg | Formal Agreement: The First National Bank Of Gatlinburg |
| Oct 27, 1994 | OCC_OTS | New Jersey Savings and Loan Association | Orders of Removal/Prohibition: Donald F. DeNucci |
| Oct 26, 1994 | OCC | The First National Bank and Trust Company of Junction City, Kansas | Formal Agreement: The First National Bank And Trust Company Of Junction City, Kansas |
| Oct 25, 1994 | OCC | The Farmers National Bank of Forney | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Farmers National Bank Of Forney |
| Oct 24, 1994 | FRB | The Blackshear Bank | Prohibition from Banking: Earl E. Echols |
| Oct 24, 1994 | FRB | The Blackshear Bank | Civil Money Penalty $1,000: Earl E. Echols |
| Oct 24, 1994 | FRB | Bank Sepah Iran | Civil Money Penalty $100,000: Bank Sepah Iran, Tehran, Iran |
| Oct 19, 1994 | OCC_OTS | Yorkville Federal Savings Association | Cease and Desist: Warren H. Young |
| Oct 19, 1994 | OCC_OTS | Yorkville Federal Savings Association | Civil Money Penalty: Warren Young |
| Oct 19, 1994 | OCC_OTS | Yorkville Federal Savings Association | Orders of Removal/Prohibition: Warren H. Young |
| Oct 11, 1994 | OCC_OTS | Cross County Savings Bank | Orders of Removal/Prohibition: Michael Cousin |
| Oct 7, 1994 | OCC | The First National Bank of Bangor | Civil Money Penalty (CMP): Hoffman, Leonard |
| Oct 5, 1994 | OCC | Chase Manhattan S.A. | Securities Enforcement Action: The Chase Manhattan Bank, N.A. |
| Oct 4, 1994 | FRB | California Center Bank | Cease and Desist Order: California Center Bank, Los Angeles, CA |
| Oct 3, 1994 | OCC_OTS | First Newport Federal Savings Bank | Orders of Removal/Prohibition: Annette D. Bernard |
| Oct 3, 1994 | OCC | The Private Bank & Trust, N.A. | Civil Money Penalty (CMP): Gisbert, Antonio |
| Oct 3, 1994 | OCC | The Private Bank & Trust, N.A. | Prohibition/Removal Orders: Gisbert, Antonio |
| Sep 29, 1994 | OCC_OTS | Fidelity Federal Savings & Loan Association | Orders of Removal/Prohibition: Armondo Felicetti |
| Sep 29, 1994 | OCC_OTS | Metropolitan Financial Corporation | Orders of Removal/Prohibition: Thelma A. Smith |
| Sep 28, 1994 | FRB | Citizens First State Bank of Walnut | Written Agreement: Citizens Bancshares, Inc., and Citizens First Bank of Walnut, Walnut, IL |
| Sep 28, 1994 | OCC | Summit National Bank | Prohibition/Removal Orders: Cavallari, Augustus I. |
| Sep 28, 1994 | OCC | Texas National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Texas National Bank |
| Sep 28, 1994 | OCC | Mayde Creek Bank National Association | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Mayde Creek Bank, National Association |
| Sep 28, 1994 | OCC | First National Bank of Bellaire | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank Of Bellaire |
| Sep 27, 1994 | OCC_OTS | First National Bank of Shenandoah | Cease and Desist: Eugene N. Hooper |
| Sep 27, 1994 | OCC_OTS | First National Bank of Shenandoah | Civil Money Penalty: Eugene N. Hooper |
| Sep 27, 1994 | OCC_OTS | First National Bank of Shenandoah | Orders of Removal/Prohibition: Eugene N. Hooper |
| Sep 26, 1994 | OCC_OTS | Republic Bank & Trust Company | Cease and Desist: Bernard M. Trager |
| Sep 26, 1994 | OCC_OTS | Republic Bank & Trust Company | Cease and Desist: Steven Trager |
| Sep 26, 1994 | OCC_OTS | Republic Bank & Trust Company | Civil Money Penalty: Steven Trager |
| Sep 26, 1994 | OCC_OTS | Republic Bank & Trust Company | Civil Money Penalty: Bernard N. Trager |
| Sep 26, 1994 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Edmond D. Costantini Jr. |
| Sep 26, 1994 | OCC_OTS | (individual) | Cease and Desist: Edmond D. Constantini, Jr. |
| Sep 23, 1994 | OCC | First Charter Bank, National Association | Formal Agreement: First Charter Bank National Association |
| Sep 23, 1994 | OCC | The First National Bank of Bayard | Formal Agreement: The First National Bank of Bayard |
| Sep 23, 1994 | OCC | The First National Bank of Bayard | Formal Agreement: Krantz, James |
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