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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
Feb 18, 1994 OCC The Midway National Bank of St. Paul Civil Money Penalty (CMP): Gross, David D.
Feb 18, 1994 OCC Bank One, West Virginia, Williamson, National Association Civil Money Penalty (CMP): Bank One, West Virginia, Williamson, N. A.
Feb 18, 1994 FRB (individual) Written Agreement: Merchants Bancshares, Inc., Burlington, VT
Feb 14, 1994 OCC (individual) Civil Money Penalty (CMP): Shaw, Melvin F.
Feb 10, 1994 OCC_OTS Topa Savings Bank Supervisory Agreement: Topa Savings Bank, FSB
Feb 9, 1994 OCC_OTS Community Federal Savings Bank Supervisory Agreement: Community Federal Savings Bank
Feb 9, 1994 OCC College Boulevard National Bank Civil Money Penalty (CMP): Sader, Harold M.
Feb 7, 1994 OCC Summerville National Bank Formal Agreement: Summerville National Bank
Feb 4, 1994 OCC Texas Republic Bank, N.A. Civil Money Penalty (CMP): Gamble, S. Mike
Feb 3, 1994 OCC Ventura County National Bancorp Formal Agreement: Ventura County National Bank
Feb 1, 1994 OCC_OTS Slavie Federal Savings and Loan Association Supervisory Agreement: Slavie Federal Savings and Loan Assocaiton
Jan 31, 1994 OCC United Bank for Africa PLC Formal Agreement: United Bank For Africa, Plc
Jan 27, 1994 OCC_OTS Metropolitan Financial Corporation Orders of Removal/Prohibition: John A. Guidinger
Jan 27, 1994 OCC_OTS Metropolitan Financial Corporation Civil Money Penalty: John A. Guidinger
Jan 25, 1994 OCC_OTS Family First Funding LLC Supervisory Agreement: Michele Corrado
Jan 25, 1994 OCC_OTS Family First Funding LLC Cease and Desist: Family Fiedelity Insurance Company
Jan 25, 1994 OCC_OTS Family First Funding LLC Cease and Desist: Gerald Corrado
Jan 25, 1994 OCC_OTS (recovered) Cease and Desist: James Corrado
Jan 25, 1994 OCC_OTS Family First Funding LLC Cease and Desist: Joseph Corrado
Jan 25, 1994 OCC_OTS Family First Funding LLC Cease and Desist: Patricia Corrado Held
Jan 25, 1994 OCC_OTS Family First Funding LLC Cease and Desist: Peter Corrado
Jan 25, 1994 OCC_OTS Family First Funding LLC Civil Money Penalty: Family Fidelity Ins. Company
Jan 25, 1994 OCC_OTS Family First Funding LLC Civil Money Penalty: Gerald Corrado
Jan 25, 1994 OCC_OTS Family First Funding LLC Civil Money Penalty: James Corrado
Jan 25, 1994 OCC_OTS Family First Funding LLC Civil Money Penalty: Joseph Corrado
Jan 25, 1994 OCC_OTS Family First Funding LLC Civil Money Penalty: Patricia Corrado Held
Jan 25, 1994 OCC_OTS Family First Funding LLC Civil Money Penalty: Peter Corrado
Jan 25, 1994 FRB Dyer F & M Bancshares, Inc. Cease and Desist Order: Dyer F&M Bancshares, Inc., Dyer, TN
Jan 24, 1994 OCC_OTS Suburban Federal Savings Bank Orders of Removal/Prohibition: William F. Shivers
Jan 24, 1994 OCC_OTS (individual) Orders of Removal/Prohibition: Dennis Edmondson
Jan 24, 1994 OCC_OTS Doylestown Federal Savings & Loan Association Orders of Removal/Prohibition: Robert D. Gilmore
Jan 21, 1994 OCC First National Bank of Vicksburg Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank Of Vicksburg
Jan 20, 1994 OCC_OTS First Trade Union Capital Trust I Cease and Desist: Carol A. Little
Jan 20, 1994 OCC_OTS First Trade Union Capital Trust I Orders of Removal/Prohibition: Carol A. Little
Jan 19, 1994 OCC Merchants Bank of California, N.A. Prompt Corrective Action (PCA) Directive: Rancho Dominguez Bank, N.A.
Jan 13, 1994 OCC Siam Commercial Bank Public Company Limited Formal Agreement: Siam Commercial Bank Public Company Limited
Jan 13, 1994 FRB (individual) Civil Money Penalty $3,000: John L. Piesik
Jan 12, 1994 OCC The Malta National Bank Prohibition/Removal Orders: Welch, Harry F.
Jan 12, 1994 OCC The Malta National Bank Prohibition/Removal Orders: Ziegler, Charles
Jan 12, 1994 OCC The Malta National Bank Civil Money Penalty (CMP): Lowe, Michael D.
Jan 12, 1994 OCC The Malta National Bank Civil Money Penalty (CMP): Welch, Harry F.
Jan 12, 1994 OCC The Malta National Bank Civil Money Penalty (CMP): Ziegler, Charles
Jan 12, 1994 OCC Security National Bank of Superior Formal Agreement: Security National Bank Of Superior
Jan 12, 1994 OCC Security National Bank of Superior Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Wright, Steven R.
Jan 12, 1994 OCC The Malta National Bank Civil Money Penalty (CMP): Hartzell, Bruce W.
Jan 12, 1994 OCC Security National Bank of Superior Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Myers, Harold S.
Jan 12, 1994 OCC Nara Bank Civil Money Penalty (CMP): Hong, Gilbert
Jan 11, 1994 OCC Eagle Bank of Champaign County, N.A. Civil Money Penalty (CMP): Bartell, Richard W.
Jan 11, 1994 OCC Eagle Bank of Champaign County, N.A. Prohibition/Removal Orders: Bartell, Richard W.
Jan 11, 1994 OCC Sears National Bank Civil Money Penalty (CMP): Lee, Brian P.

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