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 |
|---|---|---|
| Sep 1, 1994 | BNR Bancshares, Inc. | Regions Financial Corporation |
| Sep 1, 1994 | Coca-Cola Employees Credit Union | Beacon Community Credit Union |
| Sep 1, 1994 | First State Bank and Trust Company | International Bank of Commerce |
| Sep 1, 1994 | Pioneer Federal Savings Bank | Signet Bank |
| Sep 1, 1994 | First Citizens Bank | Union Planters Bank of Middle Tennessee, National Association |
| Sep 1, 1994 | Commercial Bank of Liberty, N. A. | Commerce Bank |
| Sep 1, 1994 | Associated Bank Marshfield, National Association | Associated Bank North |
| Sep 1, 1994 | Bank of Powell | Horizon Bank |
| Sep 1, 1994 | Steiner Bank | Highland Bank |
| Sep 1, 1994 | Co-Op Employees Credit Union | N.W. Iowa Credit Union |
| Sep 1, 1994 | The Bank of Iredell | United Carolina Bank |
| Sep 1, 1994 | Valley Bank, South Central (National Association) | M&I Bank South Central |
| Sep 1, 1994 | M&I New Holstein Bank | M&I Bank Fox Valley |
| Sep 1, 1994 | Home Federal Bank, Savings Bank | Wells Fargo Bank Nevada, National Association |
| Sep 1, 1994 | Kenosha News Credit Union | Southern Lakes Credit Union |
| Sep 1, 1994 | Valley Bank Western, FSB | M&I Mid-State Bank |
| Sep 1, 1994 | M&I Fox Heights Bank | M&I Bank Northeast |
| Sep 1, 1994 | M&I Bank of Onalaska | M&I Bank of La Crosse |
| Sep 1, 1994 | Wilmington 451 Federal Credit Union | Delaware First Federal Credit Union |
| Sep 1, 1994 | Grant Federal Savings Bank | Citizens First Bank |
| Sep 1, 1994 | F & M Bank-Pulaski | F & M Bank-Wisconsin |
| Sep 1, 1994 | M&I Bank of Dodgeville | M&I Bank Southwest |
| Aug 31, 1994 | First Bank and Trust Company of Oakland City | The Citizens National Bank of Evansville |
| Aug 31, 1994 | Oakland City Bancshares Corp. | Citizens Bancshares, Inc. |
| Aug 31, 1994 | 720 Federal Credit Union | K&E Employees Federal Credit Union |
| Aug 29, 1994 | 1st Oak Brook Bank | Oak Brook Bank |
| Aug 27, 1994 | Detroit Savings Bank, Federal Savings Bank | Standard Federal Bank |
| Aug 27, 1994 | The Cumberland Federal Bancorporation, Inc. | Fifth Third Bancorp |
| Aug 27, 1994 | Continental Bank | (unnamed) |
| Aug 26, 1994 | Norwest Bank Wisconsin Waupun, National Association | Wells Fargo Bank Wisconsin, National Association |
| Aug 26, 1994 | Central State Bank | First Bank |
| Aug 26, 1994 | Red River Valley Bank | Bank One, Louisiana, National Association |
| Aug 25, 1994 | Bostwick Banking Company | First State Bank of Blakely |
| Aug 23, 1994 | Star Valley State Bank | First Security Bank of Wyoming |
| Aug 22, 1994 | American Chartered Bank of Bartlett | American Chartered Bank |
| Aug 22, 1994 | Citizens Savings Bank, SSB, Inc. | Truist Bank |
| Aug 22, 1994 | Thornridge State Bank | Manufacturers Bank |
| Aug 22, 1994 | Farmers State Bank of Delavan | The First National Bank of Elmore |
| Aug 22, 1994 | Tinley Park Bank | Manufacturers Bank |
| Aug 22, 1994 | American Chartered Bank of Lake Zurich | American Chartered Bank |
| Aug 20, 1994 | First Inter-Bancorp, Inc. | First Fidelity Bancorporation |
| Aug 20, 1994 | Mid-Hudson Savings Bank FSB | First Fidelity Bank, National Association |
| Aug 20, 1994 | Bank of Fordsville | Commonwealth Community Bank, Inc. |
| Aug 20, 1994 | Huntington Bank Charleston N.A. | Huntington National Bank West Virginia |
| Aug 20, 1994 | Pioneer Financial, A Cooperative Bank | Fleet National Bank |
| Aug 19, 1994 | T U F Federal Credit Union | North Side Community Federal Credit Union |
| Aug 19, 1994 | Midlantic Banks Inc. | Midlantic Corporation |
| Aug 19, 1994 | Bank of Loudoun | Jefferson National Bank |
| Aug 18, 1994 | First Cook Community Bank, F.S.B. | Republic Bank of Chicago |
| Aug 17, 1994 | United Postal Savings Association | Firstar Bank Missouri, National Association |
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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