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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
Aug 16, 1994 Sterling Bank MA Fleet Bank of Massachusetts, National Association
Aug 16, 1994 United National Corporation SD United National Corporation
Aug 16, 1994 Sterling Bancshares Corporation MA Fleetboston Financial Corporation
Aug 15, 1994 OMNIBANK University Hills CO OMNIBANK Southeast
Aug 15, 1994 OMNIBANK Arvada CO OMNIBANK Southeast
Aug 13, 1994 The Lincoln Savings Bank, FSB NY Anchor Savings Bank, FSB
Aug 12, 1994 C.B. Bancshares, Inc. MO Mark Twain Bancshares, Inc.
Aug 11, 1994 Handy Andy Employee Federal Credit Union TX Credit Human Federal Credit Union
Aug 11, 1994 (unnamed) — Bank Midwest, N.A.
Aug 8, 1994 Bedford National Bank TX First National Bank of Grapevine
Aug 6, 1994 Shadow Lawn Savings Bank, SLA NJ Santander Bank, N.A.
Aug 5, 1994 Edgecomb Homestead Savings Bank, Inc., SSB NC First-Citizens Bank & Trust Company
Aug 4, 1994 Brunswick Federal Credit Union NY Teachers Federal Credit Union
Aug 4, 1994 Lockwood Banc Group, Incorporated TX Comerica Texas Incorporated
Aug 3, 1994 Erick Bancorporation, Inc. OK Erick Bancshares, Inc.
Aug 1, 1994 Merced Bank of Commerce CA Valliwide Bank
Aug 1, 1994 Wassaic Federal Credit Union NY Bridgeway Federal Credit Union
Aug 1, 1994 Alliance National Bank and Trust Company NE First National Bank
Aug 1, 1994 Husser Community Credit Union LA La Capitol Federal Credit Union
Aug 1, 1994 Industrial Credit Union of Nashville TN Old Hickory Credit Union
Aug 1, 1994 Pierce County Bank and Trust Company WI M&I Community State Bank
Aug 1, 1994 MidAmerica Bank Stoughton WI MidAmerica Bank
Aug 1, 1994 Valley Bank, Menomonie WI M&I Community State Bank
Aug 1, 1994 Bancflorida, A Federal Savings Bank FL First Union National Bank of Florida
Aug 1, 1994 A&P Tea Federal Credit Union OH Suburban Federal Credit Union
Aug 1, 1994 Valley Bank WI M&I Marshall and Ilsley Bank
Aug 1, 1994 Bay Savings Bank FSB VA First Federal of Michigan
Aug 1, 1994 Mid Maine Savings Bank F.S.B. ME TD Bank, N.A.
Aug 1, 1994 M&I Greater Milwaukee Bank WI M&I Marshall and Ilsley Bank
Aug 1, 1994 Hometown Bancshares, Inc. WV Commercial Bancshares, Incorporated
Aug 1, 1994 (unnamed) — M&I Lake Country Bank
Aug 1, 1994 Ridgewood Area Schools Credit Union IL Leyden Credit Union
Aug 1, 1994 The First National Bank of Kensington KS Farmers National Bank
Aug 1, 1994 First Continental Bancshares, Inc. LA Hibernia Corporation
Aug 1, 1994 M&I Wauwatosa State Bank WI M&I Marshall and Ilsley Bank
Aug 1, 1994 Chevron Socal Credit Union CA Chevron Federal Credit Union
Aug 1, 1994 Flagg Employees Federal Credit Union PA Tri County Area Federal Credit Union
Aug 1, 1994 First Bancorp of Louisiana, Inc. LA Hibernia Corporation
Aug 1, 1994 First National Bank of West Monroe LA Capital One, N.A.
Aug 1, 1994 Capital Savings Bank, Federal Savings Bank MD Washington Federal Savings Bank
Aug 1, 1994 Southern National Bank at Tallulah LA Capital One, N.A.
Aug 1, 1994 M&I Greater Waukesha WI M&I Lake Country Bank
Aug 1, 1994 Valley Bank WI M&I Bank of Southern Wisconsin
Aug 1, 1994 First National Bank of Jefferson Parish LA Capital One, N.A.
Jul 31, 1994 Midwest Insurance Services, Inc. IA Bank Midwest, Minnesota Iowa, National Association
Jul 31, 1994 Augusta Financial Group, Inc. TX Wells Fargo Bank Texas, National Association
Jul 31, 1994 E P B P Federal Credit Union NJ Garden Savings Federal Credit Union
Jul 31, 1994 T & B Federal Credit Union NJ L'Oreal USA Federal Credit Union
Jul 30, 1994 Citizens Federal Savings Bank TN Trans Financial Bank of Tennessee, Federal Savings Bank
Jul 30, 1994 Southern Ocean State Bank NJ Sun National Bank

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

Enforcement Actions in 1994

Action date Agency Institution Action
Jun 17, 1994 OCC Hilton Head Bank & Trust Company, N.A. Prohibition/Removal Orders: Ruhf, Thomas J.
Jun 16, 1994 OCC First National Bank of Malden Civil Money Penalty (CMP): Magee, James L.
Jun 16, 1994 OCC First National Bank of Malden C&D or PC&D Requiring Restitution: Magee, James L.
Jun 16, 1994 OCC Sequoia National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Krug, Norman I.
Jun 15, 1994 OCC Bank of America NW, National Association Civil Money Penalty (CMP): Bank Of America Nw, National Association
Jun 15, 1994 OCC Seattle-First National Bank Securities Enforcement Action: Seattle-First National Bank
Jun 9, 1994 OCC_OTS Collective Financial Services, Inc. Orders of Removal/Prohibition: Victoria L. Sharp
Jun 8, 1994 OCC_OTS Bancplus Savings Association Orders of Removal/Prohibition: Kenneth Lee Schnitzer
Jun 8, 1994 OCC Sequoia National Bank Civil Money Penalty (CMP): Bolles, Peter P.
Jun 8, 1994 OCC Sequoia National Bank Civil Money Penalty (CMP): Henning, John F.
Jun 7, 1994 OCC_OTS Amador Valley Savings and Loan Association Civil Money Penalty: Donald Perry
Jun 7, 1994 OCC_OTS Amador Valley Savings and Loan Association Civil Money Penalty: Sharon Thiele-Driver
Jun 7, 1994 OCC_OTS Amador Valley Savings and Loan Association Civil Money Penalty: Jo Betty Allen
Jun 7, 1994 OCC_OTS (individual) Civil Money Penalty: Chris Bertalis
Jun 7, 1994 OCC_OTS Amador Valley Savings and Loan Association Civil Money Penalty: WilliamA. Hirst
Jun 3, 1994 OCC_OTS Lasalle Financial Services, Inc. Orders of Removal/Prohibition: Crystal Goodman
Jun 3, 1994 FRB (individual) Prompt Corrective Action: Pioneer Bank, Fullerton, CA
Jun 2, 1994 OCC_OTS Citizens Federal Savings and Loan Association Cease and Desist: James M. Henderson
Jun 2, 1994 OCC Texas Heritage National Bank Civil Money Penalty (CMP): Kozsuch, Andy
Jun 1, 1994 OCC_OTS United Savings Association of Texas Cease and Desist: Joann Mitchell
Jun 1, 1994 OCC_OTS United Savings Association of Texas Orders of Removal/Prohibition: Joann Mitchell
May 31, 1994 OCC The First National Bank of Pandora Prohibition/Removal Orders: Geiger, Grover J.
May 31, 1994 OCC National City Bank of Minneapolis Civil Money Penalty (CMP): Meadley, Walter E.
May 31, 1994 OCC The First National Bank of Pandora Civil Money Penalty (CMP): Geiger, Grover J.
May 31, 1994 OCC National City Bank of Minneapolis Civil Money Penalty (CMP): National City Bank Of Minneapolis
May 27, 1994 OCC First American Capital Bank, N.A. Prohibition/Removal Orders: George, Ernest L.
May 27, 1994 OCC First National Bank of Lewis County Civil Money Penalty (CMP): First National Bank Of Lewis County
May 26, 1994 OCC Sequoia National Bank Civil Money Penalty (CMP): Niedermeyer, Thomas J.
May 26, 1994 OCC_OTS Northfield Bank Orders of Removal/Prohibition: Christine M. Palazzola
May 26, 1994 OCC_OTS Collective Financial Services, Inc. Orders of Removal/Prohibition: Amy Manning
May 26, 1994 FRB Arvada Bank Holding Company Prohibition from Banking: Gene Osborne
May 26, 1994 OCC Sequoia National Bank Civil Money Penalty (CMP): Glover, Kent D.
May 24, 1994 OCC_OTS Collective Financial Services, Inc. Orders of Removal/Prohibition: Karen C. Parisio
May 23, 1994 OCC First National Bank in Las Vegas Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank In Las Vegas
May 23, 1994 OCC_OTS Guaranty Bank Cease and Desist: Beverly J. Cashen
May 23, 1994 FRB (individual) Civil Money Penalty $5,000: Scott A. Noyes
May 23, 1994 FRB (individual) Civil Money Penalty $7,500: Peoples Bancshares, Inc., Westville, OK
May 23, 1994 FRB (individual) Cease and Desist Order: Scott A. Noyes
May 23, 1994 OCC_OTS Franklin Federal Bancorp, A Federal Savings Bank Cease and Desist: Selina Mirza
May 23, 1994 OCC_OTS Guaranty Bank Orders of Removal/Prohibition: Beverly J. Cashen
May 23, 1994 OCC_OTS (individual) Orders of Removal/Prohibition: Bridget D. L. Parker
May 23, 1994 OCC_OTS (individual) Orders of Removal/Prohibition: Selina Mirza
May 17, 1994 OCC_OTS Guaranty Bank Orders of Removal/Prohibition: Valerie Chavers
May 17, 1994 OCC_OTS General Federal Savings Bank Cease and Desist: Pedro R. Lopez
May 17, 1994 OCC_OTS General Federal Savings Bank Cease and Desist: Teresa Saldise
May 17, 1994 OCC_OTS Guaranty Bank Cease and Desist: Valerie Chavers
May 17, 1994 OCC_OTS General Federal Savings Bank Civil Money Penalty: Pedro R. Lopez
May 17, 1994 OCC_OTS General Federal Savings Bank Civil Money Penalty: Teresa Saldise
May 17, 1994 OCC_OTS General Federal Savings Bank Orders of Removal/Prohibition: Pedro Ramon Lopez
May 17, 1994 OCC_OTS General Federal Savings Bank Orders of Removal/Prohibition: Teresa Saldise

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