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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
Dec 1, 1994 Arrow Group Employees Federal Credit Union IL Kaskaskia Valley Credit Union
Dec 1, 1994 Leeway Enterprises, Inc. NJ Valley National Bank
Dec 1, 1994 H-K Associates Credit Union CT First Connecticut Credit Union
Dec 1, 1994 U.S. Bancorp Escrow Co. WA U.S. Bancorp
Dec 1, 1994 Anderson County Bank TN Union Planters Bank of East Tennessee, National Association
Dec 1, 1994 Santander National Bank PR Banco Santander Puerto Rico
Dec 1, 1994 Carolina Students Credit Union NC Coastal Federal Credit Union
Dec 1, 1994 Bayside Federal Savings Bank NY North Fork Bank
Dec 1, 1994 Citizens Savings Bank FSB NY Manufacturers and Traders Trust Company
Dec 1, 1994 Coca-Cola Bottling Co Employees Credit Union TX Southwest Airlines Federal Credit Union
Dec 1, 1994 Shadow Hills National Bank TX First United Bank
Dec 1, 1994 Wellco Credit Union NC Champion Credit Union
Dec 1, 1994 Moore Business Forms Charleston Federal Credit Union IL Blaw Knox Credit Union
Dec 1, 1994 First Moore Bancshares, Inc. OK INTRUST Financial Corporation
Dec 1, 1994 Governors Bank FL Republic Security Bank
Dec 1, 1994 Bemis Memphis Employees Federal Credit Union TN America's Credit Union
Dec 1, 1994 Habion Spencerville Employees Federal Credit Union OH Superior Credit Union Inc
Dec 1, 1994 Kittson Federal Credit Union MN Agassiz Federal Credit Union
Dec 1, 1994 Saint Marys R C Sharpsburg Federal Credit Union PA Pittsburgh Central Federal Credit Union
Dec 1, 1994 Duluth Telephone Employees Credit Union MN Minnesota Power Employees Credit Union
Dec 1, 1994 Archview Credit Union IL Catholic and Community Credit Union
Dec 1, 1994 NBD Trust Company of Florida, National Association FL Bank One, Florida
Dec 1, 1994 Caribe Hilton Federal Credit Union PR Vapr Federal Credit Union
Dec 1, 1994 Pylon Federal Credit Union IL Kane County Teachers Credit Union
Dec 1, 1994 Kennebec County Federal Credit Union ME Capital Area Federal Credit Union
Dec 1, 1994 RockBank NJ Valley National Bank
Dec 1, 1994 The Shelby County State Bank IA Shelby County State Bank
Dec 1, 1994 Rock Financial Corporation NJ Valley National Bancorp
Nov 30, 1994 Washington Mutual Bank WA Washington Mutual Bank
Nov 30, 1994 Fidelity Federal Credit Union NY Union Settlement Federal Credit Union
Nov 29, 1994 Firstar Corporation of Illinois WI Firstar Corporation of Wisconsin
Nov 29, 1994 The Bank of Baltimore MD First Fidelity Bank, National Association, New Jersey
Nov 28, 1994 Saginaw Drive Federal Credit Union NY Irondequoit Federal Credit Union
Nov 28, 1994 Firstar Illinois Regional Operations Center IL Firstar Bank Illinois
Nov 28, 1994 Trenton Bancshares, Inc. TN Commerce Bancshares, Inc.
Nov 28, 1994 The Bank of Oceana WV First Century Bank, Inc.
Nov 25, 1994 American Financial Services of Hawaii, Incorporated HI Hawaiian Trust Company, Limited
Nov 23, 1994 Signet Properties Company VA Capital One Bank (USA), N.A.
Nov 22, 1994 Goreville Bancorporation, Inc. IL Magna Group, Inc.
Nov 21, 1994 The Whitehall State Bank MT Rocky Mountain Bank
Nov 21, 1994 Powder River Bank MT Rocky Mountain Bank
Nov 21, 1994 Security State Bank, Harlem, Montana MT Rocky Mountain Bank
Nov 21, 1994 First State Bank of Stevensville, Montana MT Rocky Mountain Bank
Nov 21, 1994 Rocky Mountain Bank of Plains MT Rocky Mountain Bank
Nov 20, 1994 Nickerson Bankshares, Inc. KS Nickerson State Bank
Nov 19, 1994 Cheltenham Bank PA Corestates Bank, National Association
Nov 19, 1994 Third National Bank and Trust Company of Scranton PA Corestates Bank, National Association
Nov 19, 1994 Valley Savings Bank NJ Summit Bank
Nov 19, 1994 Lehigh Valley Bank PA Corestates Bank, National Association
Nov 19, 1994 Bucks County Bank and Trust Company PA Corestates Bank, National Association

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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