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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
May 17, 1994 OCC (individual) Prohibition/Removal Orders: Hudgins, George
May 17, 1994 OCC (individual) Civil Money Penalty (CMP): Hudgins, George
May 17, 1994 OCC The Farmers National Bank of Forney Civil Money Penalty (CMP): Harris, Richard "Don"
May 17, 1994 OCC (individual) Civil Money Penalty (CMP): Freeman, Bill
May 17, 1994 OCC (individual) C&D or PC&D Requiring Restitution: Harris, Don
May 16, 1994 OCC_OTS Local Financial Corporation Orders of Removal/Prohibition: Karen E. Simpson
May 16, 1994 OCC Citizens First Trust Company, LLC Civil Money Penalty (CMP): Padgett, James L.
May 16, 1994 FRB (individual) Prohibition from Banking: Bruno Zbinden
May 13, 1994 OCC_OTS Abq Federal Savings Bank Orders of Removal/Prohibition: Christopher E. Hashioka
May 13, 1994 OCC_OTS Abq Federal Savings Bank Orders of Removal/Prohibition: James L. Bosler
May 13, 1994 OCC_OTS First Federal Savings & Loan Association Orders of Removal/Prohibition: Connie Daigle East
May 12, 1994 OCC First National Bank of Steeleville Civil Money Penalty (CMP): Eads, Kerry
May 12, 1994 OCC First National Bank of Steeleville Prohibition/Removal Orders: Eads, Kerry
May 10, 1994 OCC_OTS Torrance Savings and Loan Association Cease and Desist: Torrance Bank, S.S.B.
May 10, 1994 OCC First Premier Bank Civil Money Penalty (CMP): Sanford, T. Denny
May 9, 1994 FRB Pioneer Bancorp Written Agreement: Pioneer Bancorp, Fullerton, CA
May 9, 1994 FRB The Genoa Banking Company Prohibition from Banking: Robert Richmond
May 9, 1994 FRB Trustcorp, Inc. Cease and Desist Order: Edwin M. Bergsmark
May 9, 1994 FRB Trustcorp, Inc. Prohibition from Banking: Edwin M. Bergsmark
May 6, 1994 OCC National Bank of Detroit Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Betanzos, Louis
May 5, 1994 OCC First National Bank Civil Money Penalty (CMP): McCaslin, Henry
May 4, 1994 OCC_OTS Guaranty Bank Orders of Removal/Prohibition: Jeana Dickerson
May 4, 1994 OCC_OTS Guaranty Bank Orders of Removal/Prohibition: Adrienne Ashley Rodgers
May 4, 1994 OCC_OTS Guaranty Bank Cease and Desist: Jeana Dickerson
May 4, 1994 OCC Central Coast National Bank Formal Agreement: Central Coast National Bank
May 3, 1994 OCC_OTS (individual) Orders of Removal/Prohibition: Michael L. Hunt
May 3, 1994 OCC_OTS (individual) Cease and Desist: Michael L. Hunt
May 3, 1994 OCC_OTS Red River Federal Savings and Loan Association, F.A. Orders of Removal/Prohibition: Thomas F. Cassidy
May 3, 1994 OCC_OTS Red River Federal Savings and Loan Association, F.A. Cease and Desist: Thomas F. Cassidy
May 2, 1994 OCC_OTS Advance Bank Orders of Removal/Prohibition: Barbara Kaczmarzewski
May 2, 1994 OCC_OTS First Federal Savings and Loan Association of Kansas City Orders of Removal/Prohibition: Mae K. Taylor
May 2, 1994 OCC Citizens First Trust Company, LLC Civil Money Penalty (CMP): Hunt, J. Dann
Apr 28, 1994 OCC First National Bank of Glenwood Civil Money Penalty (CMP): First National Bank Of Glenwood
Apr 27, 1994 OCC Texas National Bank Prohibition/Removal Orders: Lowenfield, Wallace
Apr 27, 1994 OCC Texas National Bank C&D or PC&D Requiring Restitution: Lowenfield, Wallace
Apr 27, 1994 OCC Sequoia National Bank Civil Money Penalty (CMP): Krug, Norman I.
Apr 26, 1994 FRB Garfield Bank Written Agreement: Garfield Bank, Montebello, CA
Apr 26, 1994 FRB The Genoa Banking Company Prohibition from Banking: Robert F. Bruning
Apr 26, 1994 FRB The Genoa Banking Company Cease and Desist Order: Robert F. Bruning
Apr 26, 1994 FRB Pacific Inland Bank Cease and Desist Order: Pacific Inland Bancorp, Anaheim, CA, Pacific Inland Mortgage Company, San …
Apr 26, 1994 OCC_OTS The Federal Savings Bank of Evangeline Parish Orders of Removal/Prohibition: Douglas C. Fruge
Apr 25, 1994 FRB The Blackshear Bank Prohibition from Banking: Thomas E. Echols, Jr.
Apr 25, 1994 OCC National City Bank of Minneapolis Formal Agreement: National City Bank Of Minneapolis
Apr 25, 1994 OCC Citizens First Trust Company, LLC Civil Money Penalty (CMP): Fletcher, Warren D.
Apr 25, 1994 FRB The Blackshear Bank Civil Money Penalty $1,000: Thomas E. Echols, Jr.
Apr 22, 1994 OCC_OTS Local Financial Corporation Orders of Removal/Prohibition: Cathryn C. Pugh
Apr 22, 1994 OCC_OTS (individual) Orders of Removal/Prohibition: Bonnie Louise Prescott
Apr 22, 1994 OCC The First National Bank of Englewood Civil Money Penalty (CMP): Chavez, Lloyd G.
Apr 22, 1994 OCC_OTS Magnolia Federal Bank for Savings Orders of Removal/Prohibition: June Louise Bryant
Apr 22, 1994 OCC_OTS United Savings Association of Texas Orders of Removal/Prohibition: Christopher R. Barajas

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