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 |
|---|---|---|
| Nov 1, 1994 | State Bank of Fayette | Farmers State Bank |
| Nov 1, 1994 | American Savings Bank | Keystone Financial Bank, National Association |
| Nov 1, 1994 | Florida Tile Federal Credit Union | Midflorida Credit Union |
| Nov 1, 1994 | BMC Bankcorp, Inc. | CBT Corporation |
| Nov 1, 1994 | United Family Credit Union | Greenstate Credit Union |
| Nov 1, 1994 | Hubbell Bank | State Bank of Chester |
| Nov 1, 1994 | Charter Federal Savings Bank | Santander Bank, N.A. |
| Nov 1, 1994 | Coffee County Bank | Community Bank and Trust of Southeast Alabama |
| Nov 1, 1994 | Grain Dealers Mutual Credit Union | Forum Credit Union |
| Nov 1, 1994 | Home Federal Savings Bank | First Union National Bank of Washington, D.C. |
| Nov 1, 1994 | United Retailers Federal Credit Union | Metro Cu Federal Credit Union |
| Nov 1, 1994 | Win-Glen Federal Credit Union | Lebanon Federal Credit Union |
| Nov 1, 1994 | The First National Bank of Guymon | Gold BANK |
| Nov 1, 1994 | Springfield Savings & Loan Association | Brattleboro Savings & Loan Association |
| Nov 1, 1994 | E E S C O Employees Credit Union | Vicinity Credit Union |
| Nov 1, 1994 | Ram Golf Employees Federal Credit Union | Access Credit Union |
| Nov 1, 1994 | Sacramento Savings Bank | First Interstate Bank of California |
| Nov 1, 1994 | Dover School Employees Cu | York Educational Federal Credit Union |
| Oct 31, 1994 | Mt Olivet Baptist Federal Credit Union | New Community Federal Credit Union |
| Oct 31, 1994 | Bank IV Financial Services, Inc | Fourth Financial Corporation |
| Oct 28, 1994 | Taca Airlines Empl Fcu | New Orleans Firemens Federal Credit Union |
| Oct 27, 1994 | Peter J. Schmitt Co. Inc. Federal Credit Union | Cornerstone Community Federal Credit Union |
| Oct 24, 1994 | First National Bank in Harper | American Bank |
| Oct 24, 1994 | WesBanco Bank Morgantown, Inc. | WesBanco Bank Fairmont, Inc. |
| Oct 24, 1994 | Bank of Menomonie | Bremer Bank, National Association |
| Oct 22, 1994 | M&I Western State Bank | Associated Bank, National Association |
| Oct 22, 1994 | The First State Bank of Wiggins | Independent Bank |
| Oct 22, 1994 | Ocean Independent Bank | First Dewitt Bank |
| Oct 21, 1994 | First Fidelity Bank, National Association | First Fidelity Bank, National Association, New Jersey |
| Oct 21, 1994 | Palace Quality Federal Credit Union | Zeal Credit Union |
| Oct 21, 1994 | Sun Bank of Gainesville | SunTrust Bank, North Central Florida |
| Oct 19, 1994 | Surgi Credit Federal Credit Union | General Electric Employees Federal Credit Union |
| Oct 18, 1994 | Spot Sales Employees Credit Union | St. Louis Community Credit Union |
| Oct 18, 1994 | First Southeast Banking Corp. | Firstar Corporation of Wisconsin |
| Oct 17, 1994 | OMNIBANK Arapahoe | OMNIBANK Southeast |
| Oct 15, 1994 | Oxford Bank | Bank One, National Association |
| Oct 15, 1994 | Boatmen's Bank of Marengo | Boatmen's Bank Iowa, National Association |
| Oct 15, 1994 | Boatmen's Bank of Kalona | Boatmen's Bank Iowa, National Association |
| Oct 15, 1994 | Heritage Bank Midlothian | Heritage Bank |
| Oct 15, 1994 | Plaistow Bank and Trust Company | The Family Savings Bank of New Hampshire |
| Oct 15, 1994 | Merchandise National Bank of Chicago | Old Kent Bank |
| Oct 15, 1994 | United American Bank | GBC International Bank |
| Oct 15, 1994 | EdgeMark Bank - Lombard | Old Kent Bank |
| Oct 15, 1994 | Hampton Park Corporation | First Chicago Corporation |
| Oct 15, 1994 | Boatmen's Bank of Sigourney | Boatmen's Bank Iowa, National Association |
| Oct 15, 1994 | The Davis National Bank of Mullins | First National South |
| Oct 15, 1994 | Yorktown Community Bank | The First National Bank of Beeville |
| Oct 15, 1994 | EdgeMark Bank - Rosemont | Old Kent Bank |
| Oct 15, 1994 | Boatmen's Bank of Sioux City | Boatmen's Bank Iowa, National Association |
| Oct 15, 1994 | Profile Financial Corporation | 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 |
|---|---|---|---|
| Sep 22, 1994 | FRB | State Bank of India | Cease and Desist Order: State Bank of India, Bombay, India |
| Sep 22, 1994 | FRB | Bank Melli Iran | Civil Money Penalty $60,000: Bank Melli Iran, Tehran, Iran |
| Sep 22, 1994 | OCC | Richardson National Bank | Prohibition/Removal Orders: Brown, Billy |
| Sep 22, 1994 | OCC | Asian American National Bank | Prohibition/Removal Orders: Ho, Yhi Min |
| Sep 22, 1994 | FRB | Bank Saderat Iran | Civil Money Penalty $125,000 (collectively): Bank Saderat Iran, Tehran, Iran and Bank Saderat Iran, … |
| Sep 21, 1994 | OCC_OTS | First Federal Savings Bank of Boston | Orders of Removal/Prohibition: Michael K. Matarazzo |
| Sep 20, 1994 | OCC | Bank One Trust Company, N.A. | Prohibition/Removal Orders: Feltes, Robert |
| Sep 19, 1994 | OCC | Credit One Bank, N.A. | Civil Money Penalty (CMP): Flynn, Gary |
| Sep 19, 1994 | OCC | Credit One Bank, N.A. | Civil Money Penalty (CMP): Dibasilio, Eugene |
| Sep 16, 1994 | OCC_OTS | Security Federal Savings Bank | Orders of Removal/Prohibition: Sharon Gail Fleenor |
| Sep 15, 1994 | OCC_OTS | Bancplus Savings Association | Orders of Removal/Prohibition: Walter M. Ross |
| Sep 14, 1994 | OCC | Multibank National of Western Massachusetts | Prohibition/Removal Orders: Lacey, Patrick J. |
| Sep 12, 1994 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Carolyn V. King |
| Sep 9, 1994 | OCC | The First National Bank of Beemer | Civil Money Penalty (CMP): Ludwig, Diane M. |
| Sep 9, 1994 | OCC | The First National Bank of Beemer | Civil Money Penalty (CMP): Steffensmeier, Susan E. |
| Sep 9, 1994 | OCC | The First National Bank of Beemer | Civil Money Penalty (CMP): Steffensmeier, David D. |
| Sep 7, 1994 | OCC | The First National Bank of Florida | Formal Agreement: First National Bank Of Santa Rosa |
| Sep 6, 1994 | OCC | The Citizens National Bank of Hammond | Civil Money Penalty (CMP): Storie, Wayne K. |
| Sep 2, 1994 | OCC_OTS | First Newport Federal Savings Bank | Orders of Removal/Prohibition: Alexander N. Pananides |
| Aug 30, 1994 | OCC | The First National Bank of Midland | Securities Enforcement Action: Fraser, Charles D. |
| Aug 26, 1994 | OCC | Richardson National Bank | Prohibition/Removal Orders: Richardson, Charles A. |
| Aug 26, 1994 | OCC | Richardson National Bank | Prohibition/Removal Orders: Bodkin, L. Joseph |
| Aug 26, 1994 | OCC_OTS | Bayside Federal Savings and Loan Association | Orders of Removal/Prohibition: James R. Fisher |
| Aug 26, 1994 | OCC_OTS | Bayside Federal Savings and Loan Association | Orders of Removal/Prohibition: John H. Carney |
| Aug 26, 1994 | OCC | Richardson National Bank | Prohibition/Removal Orders: Richardson, William C. |
| Aug 25, 1994 | OCC_OTS | Provident Bancshares, Inc. | Civil Money Penalty: Scott M. Pugh |
| Aug 25, 1994 | OCC_OTS | Provident Bancshares, Inc. | Civil Money Penalty: Leroy A. Seele |
| Aug 24, 1994 | OCC | High Desert National Bank | Formal Agreement: High Desert National Bank |
| Aug 23, 1994 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Mary Kay VonGlahn |
| Aug 22, 1994 | OCC_OTS | First Newport Federal Savings Bank | Orders of Removal/Prohibition: Thomas J. Bernard |
| Aug 22, 1994 | OCC | (individual) | Prohibition/Removal Orders: Torno, Curtis J. |
| Aug 22, 1994 | OCC | (individual) | Civil Money Penalty (CMP): Torno, Curtis J. |
| Aug 18, 1994 | FRB | First National Bank of Philadelphia | Prompt Corrective Action: First Bank of Philadelphia, Philadelphia, PA |
| Aug 18, 1994 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Stephen K. Alexander |
| Aug 18, 1994 | FRB | National Bank of Greece S.A. | Written Agreement: National Bank of Greece, S.A., Athens, Greece, National Bank of Greece, S.A., … |
| Aug 17, 1994 | OCC_OTS | Perpetual Savings and Loan Association | Orders of Removal/Prohibition: Carla Jones |
| Aug 16, 1994 | OCC | (individual) | Civil Money Penalty (CMP): Guinn, Dotson R. |
| Aug 16, 1994 | OCC | (individual) | Prohibition/Removal Orders: Guinn, Dotson R. |
| Aug 16, 1994 | OCC_OTS | Columbia Federal Savings and Loan Association | Orders of Removal/Prohibition: Jerome J. Moser |
| Aug 15, 1994 | OCC | Consolidated Bank, National Association | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Consolidated Bank, National Association |
| Aug 12, 1994 | OCC | Richardson National Bank | Prohibition/Removal Orders: Bell, J. Thomas |
| Aug 10, 1994 | OCC_OTS | Yorkville Federal Savings Association | Orders of Removal/Prohibition: John A. Stuckey |
| Aug 10, 1994 | OCC_OTS | Provident Bancshares, Inc. | Supervisory Agreement: Provident Bancshares, Inc. |
| Aug 8, 1994 | FRB | (individual) | Cease and Desist Order: Lombard Bank Ltd., Republic of Vanuatu and Lombard Credit Corporation, … |
| Aug 8, 1994 | OCC_OTS | Shenandoah Mortgage, LLC. | Orders of Removal/Prohibition: William P. DiLoreta |
| Aug 8, 1994 | FRB | (individual) | Cease and Desist Order: Ruy Delgado |
| Aug 8, 1994 | FRB | (individual) | Cease and Desist Order: Alvaro Machado |
| Aug 8, 1994 | FRB | (individual) | Cease and Desist Order: Alex Lacayo |
| Aug 5, 1994 | OCC_OTS | (individual) | Orders of Removal/Prohibition: John Waldrup Brown Jr. |
| Aug 2, 1994 | OCC_OTS | Equity Bank for Savings, F.A. | Orders of Removal/Prohibition: Bobbie L. Settle |
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