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Calendar Year

1996 in US Banking

1,476 bank events are on record for 1996: 6 failures, 1,203 mergers or acquisitions involving a bank, credit union or bank holding company, and 267 enforcement actions.

6
Failures
$232.6M in failed assets
1,203
Mergers
Federal Reserve NIC, banking organizations
267
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings

Jump to: Bank failures 1996 · Bank mergers 1996

How many banks failed in 1996?

6 banks failed in 1996, with $232.6M in assets. Each failure below links to its own page.

Date Bank HQ Assets Acquirer or resolution
Aug 16, 1996 Commonwealth Thrift & Loan Torrance, CA $11.5M Frontier State Bank
Aug 9, 1996 Union Federal Bank, FSB Los Angeles, CA $32.6M Dean Witter Trust FSB
Jul 12, 1996 Fairfield First Bank & Trust Co Southport, CT $57.3M Norwalk Savings Society
Jun 14, 1996 First NB of the Panhandle Panhandle, TX $68.1M Sun Bank
May 31, 1996 People's Bank & Trust Borger, TX $22.7M Boatmen's First NB of Amari
Mar 8, 1996 Metrobank of Philadelphia Philadelphia, PA $40.4M Jefferson Bank

Which banks merged in 1996?

1,203 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1996.

See the fuller list: Bank mergers 1996 with largest deals and credit union mergers ›

Date Acquired St Acquirer
Dec 1, 1996 Minco Employees Federal Credit Union FL Midflorida Credit Union
Dec 1, 1996 Franklin Federal Savings Bank TN Union Planters Bank of the Lakeway Area
Dec 1, 1996 Svgia Credit Union WA Puget Sound Federal Credit Union
Dec 1, 1996 Chase Manhattan Bank USA, N.A. NY Chase Bank USA, N.A.
Dec 1, 1996 Armstrong-Urw Nashville Employees Federal Credit Union TN Ten Credit Union
Dec 1, 1996 The Bank of New York NJ The Bank of New York Mellon
Dec 1, 1996 The Putnam Trust Company CT The Bank of New York Mellon
Dec 1, 1996 First Midwest Bank/Quad Cities, National Association IL First Midwest Bank
Dec 1, 1996 Business Council Credit Union CA Wescom Central Credit Union
Dec 1, 1996 Western Security Bank NE Mid City Bank, Inc.
Dec 1, 1996 Farmers State Bancorp IN First Financial Bancorp
Dec 1, 1996 Financial Bancshares, Inc. MO Capital Bancorporation, Inc.
Dec 1, 1996 Utah Federal Savings Bank UT Washington Mutual Bank FSB
Dec 1, 1996 BankAlabama-Huntsville AL Union Planters Bank of Alabama
Dec 1, 1996 Saulte Ste Marie Credit Union MN Soo Line Credit Union
Dec 1, 1996 BANKFIRST, a federal savings bank AL Union Planters Bank of Alabama
Dec 1, 1996 Premises, Inc. WA Venture Bank
Nov 30, 1996 Metropolitan Federal Savings and Loan Association of Seattle WA WaFd Bank
Nov 29, 1996 Lilly, Inc. CT Lafayette American Bank
Nov 29, 1996 Seymour, Inc. CT Lafayette American Bank
Nov 29, 1996 UST Bank/Connecticut CT Lafayette American Bank
Nov 28, 1996 Cupertino National Bancorp CA Greater Bay Bancorp
Nov 26, 1996 Home Savings Bank, F.S.B. FL First Union National Bank of Florida
Nov 23, 1996 State Bank of Marion ND The First State Bank of La Moure
Nov 23, 1996 Security National Bank TX The Stone Fort National Bank of Nacogdoches
Nov 23, 1996 Mellon PSFS (NJ) National Association NJ BNY Mellon, N.A.
Nov 22, 1996 Preferred Bank, A FSB FL SouthTrust Bank of Florida, National Association
Nov 22, 1996 BankPlus SSB MS BankPlus
Nov 22, 1996 Douglas County Bank MO Century Bank of the Ozarks
Nov 21, 1996 South Valley Bancorporation CA Pacific Capital Bancorp
Nov 19, 1996 United Food & Commercial Workers Union Local #324 Federal Credit Union CA Rancho Federal Credit Union
Nov 19, 1996 Suburban Community Hospital Employee Federal Credit Union OH North Coast Credit Union
Nov 18, 1996 First Public Savings Bank, a Federal Savings Bank CA Cathay Bank
Nov 18, 1996 Bank of Madisonville TN First Vantage Bank-Tennessee
Nov 18, 1996 United Southern Bank TN First Vantage Bank-Tennessee
Nov 18, 1996 First Virginia Bank-South Hill VA First Virginia Bank - Colonial
Nov 16, 1996 Middle Georgia Bank GA First Liberty Bank
Nov 16, 1996 Suncoast Savings and Loan Association, FSA FL BankUnited, FSB
Nov 15, 1996 Crestar Bank MD MD Crestar Bank
Nov 15, 1996 Community State Bank LA Whitney Bank
Nov 15, 1996 (unnamed) — Crestar Bank
Nov 15, 1996 Northern National Bank MN Norwest Bank North Country, National Association
Nov 15, 1996 Equitable Credit Union RI Navigant Credit Union
Nov 15, 1996 Valley Bancorporation, Inc. MN First Farmers & Merchants National Bank
Nov 15, 1996 Community Bancshares, Inc. LA Hancock Whitney Corporation
Nov 14, 1996 CTB Campbell Avenue, Inc. CT First Union Bank of Connecticut
Nov 14, 1996 CTB Ventures 70, Inc. CT First Union Bank of Connecticut
Nov 14, 1996 Centerbank CT First Union Bank of Connecticut
Nov 14, 1996 CTB Realty Ventures Xxxii, Inc. CT First Union Bank of Connecticut
Nov 14, 1996 CTB Ventures 69, Inc. CT First Union Bank of Connecticut

The list holds 500 of the 1,203 mergers recorded for 1996.

Enforcement Actions in 1996

Action date Agency Institution Action
Oct 19, 1996 OCC Nationsbank Trust Company Florida, N.A. Prohibition/Removal Orders: Woodman, Patricia S.
Oct 18, 1996 OCC_OTS Citizens Federal Savings Bank Supervisory Agreement: Citizens Federal Savings Bank
Oct 17, 1996 OCC Credit One Bank, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank Of Marin
Oct 11, 1996 OCC Citibank, N.A. Prohibition/Removal Orders: Hasselmann, James
Oct 11, 1996 OCC Fidelity National Bank Civil Money Penalty (CMP): Sexton, Gary D.
Oct 10, 1996 OCC Natwest Bank, National Association Prohibition/Removal Orders: Pimental, Bienvenido
Oct 10, 1996 OCC Regent Bancshares Corp. Formal Agreement: Regent National Bank
Oct 7, 1996 OCC_OTS First Federal Savings Bank Termination of Cease and Desist: Hugo E. Pimienta
Oct 7, 1996 OCC_OTS River Valley Savings Bank, FSB Cease and Desist: Larry Dale Owen
Oct 7, 1996 OCC_OTS First Federal Savings Bank Termination of Cease and Desist: First FSB
Oct 6, 1996 OCC Bank of Indiana, N.A. Formal Agreement: The First National Bank Of Dana
Oct 2, 1996 OCC_OTS (individual) Decision/Opinion and Order: Grant Thornton LLP
Oct 1, 1996 FRB Credit Suisse Prohibition from Banking: Peter R. Nardin
Sep 27, 1996 OCC Banc One Colorado Corporation Prohibition/Removal Orders: Allen, Pia
Sep 27, 1996 OCC Banc One Colorado Corporation Prohibition/Removal Orders: Higgins, Joyce
Sep 23, 1996 OCC_OTS Permanent Federal Savings Bank Orders of Removal/Prohibition: Donna K. Ort
Sep 23, 1996 OCC_OTS Security Federal Savings Bank Orders of Removal/Prohibition: Irma Sustaita
Sep 20, 1996 OCC_OTS St. Landry Bancshares, Inc. Orders of Removal/Prohibition: Shawna M. Fontenot
Sep 17, 1996 OCC_OTS First Indiana Bank, A FSB Orders of Removal/Prohibition: Debbie Ratliff
Sep 17, 1996 OCC_OTS Centennial Bank Holdings, Inc. Supervisory Agreement: Centennial Savings Bank, F.S.B.
Sep 12, 1996 FRB National Bank of Greece S.A. Cease and Desist Order: National Bank of Greece, S.A., Athens, Greece and National Bank …
Sep 12, 1996 FRB National Bank of Greece S.A. Civil Money Penalty $300,000: National Bank of Greece, S.A., Athens, Greece and National Bank …
Sep 11, 1996 OCC The Rushville National Bank Prohibition/Removal Orders: Hedrick, Donald E.
Sep 11, 1996 OCC_OTS (individual) Cease and Desist: Howard Charles Morrow
Sep 11, 1996 OCC The Rushville National Bank Prohibition/Removal Orders: Snyder, John K.
Sep 9, 1996 OCC_OTS American Federal Savings Bank Civil Money Penalty: Christopher M. Leavy
Sep 9, 1996 OCC_OTS American Federal Savings Bank Cease and Desist: Christopher M. Leavy
Sep 4, 1996 OCC_OTS USAA Bancorp Orders of Removal/Prohibition: Susan E. Hamilton
Sep 4, 1996 OCC_OTS USAA Bancorp Cease and Desist: Susan E. Hamilton
Aug 27, 1996 OCC_OTS MidFirst Bank Cease and Desist: Lisa M. May
Aug 27, 1996 OCC First Charter Bank, National Association Prompt Corrective Action (PCA) Directive: First Charter Bank National Association
Aug 27, 1996 OCC_OTS MidFirst Bank Orders of Removal/Prohibition: Lisa M. May
Aug 23, 1996 OCC_OTS Mutual Savings Bank Orders of Removal/Prohibition: Mary F. Sones
Aug 21, 1996 FRB State Bank of Texas Civil Money Penalty $1,500: Angus B. Dowling, II
Aug 19, 1996 OCC Summit National Bank C&D or PC&D Requiring Restitution: Cavallari, Augustus I.
Aug 19, 1996 OCC The Rushville National Bank Civil Money Penalty (CMP): Snyder, John K.
Aug 19, 1996 OCC The Rushville National Bank Civil Money Penalty (CMP): Hedrick, Donald E.
Aug 19, 1996 OCC The Rushville National Bank C&D or PC&D Requiring Restitution: Hedrick, Donald E.
Aug 19, 1996 OCC The Rushville National Bank C&D or PC&D Requiring Restitution: Calloway, Robert Q.
Aug 13, 1996 OCC_OTS Heartland Bank Termination of Cease and Desist: Andrew Love
Aug 13, 1996 OCC_OTS Heartland Bank Termination of Cease and Desist: Laurence A. Schiffer
Aug 13, 1996 OCC_OTS Firstbanc Savings of Texas Cease and Desist: Firstbanc SA of Texas
Aug 9, 1996 OCC_OTS Charter Federal Savings and Loan Association Termination of Cease and Desist: Robert L. Johnson
Aug 9, 1996 OCC_OTS Charter Federal Savings and Loan Association Termination of Cease and Desist: John W. Johnson, Jr.
Aug 9, 1996 OCC_OTS Charter Federal Savings and Loan Association Termination of Cease and Desist: R. Terry Taunton
Aug 8, 1996 OCC_OTS (individual) Orders of Removal/Prohibition: Ronald T. Nishimura
Aug 7, 1996 OCC_OTS (individual) Orders of Removal/Prohibition: Martha Sue Abney
Aug 2, 1996 OCC_OTS Pacific Southwest Bank Orders of Removal/Prohibition: Brenda K. Elder
Aug 2, 1996 OCC_OTS Pacific Southwest Bank Cease and Desist: Brenda K. Elder
Jul 30, 1996 OCC_OTS United Savings Association of Texas Cease and Desist: Ricky G. Bingham

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