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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
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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