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 | Assets |
|---|---|---|
| Aug 16, 1996 | Commonwealth Thrift & Loan | $11.5M |
| Aug 9, 1996 | Union Federal Bank, FSB | $32.6M |
| Jul 12, 1996 | Fairfield First Bank & Trust Co | $57.3M |
| Jun 14, 1996 | First NB of the Panhandle | $68.1M |
| May 31, 1996 | People's Bank & Trust | $22.7M |
| Mar 8, 1996 | Metrobank of Philadelphia | $40.4M |
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 | Acquirer |
|---|---|---|
| Sep 28, 1996 | First Southern State Bank | Covenant Bank |
| Sep 28, 1996 | Barnett Bank of Marion County, National Association | Barnett Bank, National Association |
| Sep 28, 1996 | Barnett Bank of Pinellas County | Barnett Bank, National Association |
| Sep 28, 1996 | Nine West Group of Vevay Employees Credit Union | Members Trust Federal Credit Union |
| Sep 28, 1996 | Barnett Bank of Southwest Florida | Barnett Bank, National Association |
| Sep 28, 1996 | Palm Springs Savings Bank, FSB | Hemet Federal Savings and Loan Association |
| Sep 28, 1996 | Texas American Bank | Compass Bank |
| Sep 27, 1996 | Shawmut New York Corporation | Fleet New York, Inc. |
| Sep 27, 1996 | American Bank of Pryor | RCB Bank |
| Sep 27, 1996 | Norwest Bank Texas, New Braunfels | Norwest Bank Texas, South Central |
| Sep 27, 1996 | Citizens Financial Services Corporation | Citizens Trust Company |
| Sep 27, 1996 | First Community Bank and Trust Company of Lone Grove | First National Bank and Trust Company of Ardmore |
| Sep 26, 1996 | Granite Holding Corporation | Independent Bancshares, Inc. |
| Sep 24, 1996 | First American Bank of Tangipahoa | First American Bank and Trust |
| Sep 23, 1996 | Norwest Bank Texas, Austin, National Association | Norwest Bank Texas, South Central |
| Sep 21, 1996 | Bank of Garber | First American Bank |
| Sep 21, 1996 | Jessamine First Federal Savings and Loan Association | Kentucky Bank |
| Sep 21, 1996 | Goodhue State Bank | First Farmers & Merchants Bank |
| Sep 20, 1996 | Community Bank & Trust Co. | First Fidelity Bank |
| Sep 20, 1996 | Itt Standard Federal Credit Union | Crossroads Community Federal Credit Union |
| Sep 20, 1996 | Comban Shares, Inc. | First Fidelity Bancorp, Inc. |
| Sep 18, 1996 | Security Savings Bank, F.S.B. | Constitution Bank, N.A. |
| Sep 18, 1996 | WFS Bancorp, Inc. | Emprise Financial Corporation |
| Sep 16, 1996 | First National Bank of Wheeling | Corus Bank, N.A. |
| Sep 16, 1996 | Lamb's Bank of Michigan City | First United Bank |
| Sep 16, 1996 | Madison Bank, National Association | Corus Bank, N.A. |
| Sep 16, 1996 | Aetna Bancorp, Inc. | Corus Bankshares, Inc. |
| Sep 16, 1996 | Madison Financial Corporation | Corus Bankshares, Inc. |
| Sep 16, 1996 | First State Bank of Calumet City | Corus Bank, N.A. |
| Sep 16, 1996 | Wilmot State Bank | Delta Trust & Bank |
| Sep 14, 1996 | The Bank of Commerce, National Association | Valliwide Bank |
| Sep 14, 1996 | Mercantile Bank of Humboldt County | Mercantile Bank MidWest |
| Sep 14, 1996 | Auburn Bancorp | Vallicorp Holdings, Inc. |
| Sep 14, 1996 | Mercantile Bank of the Bluffs | Mercantile Bank MidWest |
| Sep 14, 1996 | The First Bank | Will Rogers Bank |
| Sep 14, 1996 | LeClaire State Bank | Great River Bank & Trust |
| Sep 14, 1996 | Mercantile Bank of Mount Ayr | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Boone | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Centerville | Mercantile Bank MidWest |
| Sep 14, 1996 | American Bank & Trust Company of Houma | Regions Bank of Louisiana |
| Sep 14, 1996 | Mercantile Bank of Osceola County | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Onawa | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Chariton | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Lyon County | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Jasper County | Mercantile Bank MidWest |
| Sep 14, 1996 | Bank One, Lexington, National Association | Bank One, Kentucky, National Association |
| Sep 14, 1996 | The Jewett City Trust Company | Jewett City Savings Bank |
| Sep 14, 1996 | Mercantile Bank of Clay County | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Pella | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Marshalltown | Mercantile Bank MidWest |
The list holds 500 of the 1,203 mergers recorded for 1996.
Enforcement Actions in 1996
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Jul 30, 1996 | OCC_OTS | United Savings Association of Texas | Orders of Removal/Prohibition: Ricky G. Bingham |
| Jul 30, 1996 | OCC_OTS | First Federal Savings Bank of North Texas | Orders of Removal/Prohibition: Melanye Denyse Picha |
| Jul 30, 1996 | OCC_OTS | Sentinel Federal Savings and Loan Association of Kansas City | Orders of Removal/Prohibition: Douglas D. Schissler |
| Jul 29, 1996 | OCC_OTS | Great Lakes Bancorp, A FSB | Orders of Removal/Prohibition: Joni Jones |
| Jul 29, 1996 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Dedric J. Bradley |
| Jul 26, 1996 | OCC | Capital National Bank | Prohibition/Removal Orders: Alfaro, Luis |
| Jul 25, 1996 | FRB | Bangkok Metropolitan Bank Public Company Limited | Order to Terminate Activities: Bangkok Metropolitan Bank, PCL, Bangkok, Thailand |
| Jul 23, 1996 | FRB | (individual) | Prohibition from Banking: Scott A. Noyes |
| Jul 23, 1996 | FRB | (individual) | Civil Money Penalty $10,000: Scott A. Noyes |
| Jul 19, 1996 | OCC | Citizens National Bank of Albion | C&D or PC&D Requiring Restitution: Hanneken, Gregory J. |
| Jul 19, 1996 | OCC | Citizens National Bank of Albion | Prohibition/Removal Orders: Hanneken, Gregory J. |
| Jul 16, 1996 | OCC | Vineyard National Bancorp | Civil Money Penalty (CMP): Zurek, Ronald C. |
| Jul 15, 1996 | FRB | United Security Bancorporation | Cease and Desist Order: United Security Bancorporation, Lincoln, NE |
| Jul 15, 1996 | FRB | United Security Bancorporation | Cease and Desist Order: David C. Myers |
| Jul 15, 1996 | FRB | United Security Bancorporation | Cease and Desist Order: Harold S. Myers |
| Jul 15, 1996 | FRB | The Bank of Corning Company | Written Agreement: The Bank of Corning, Corning, OH (Now known as North Valley Bank, … |
| Jul 2, 1996 | FRB | Cedar Vale Bank Holding Company, Inc. | Cease and Desist Order: Cedar Vale Bank Holding Company, Inc., Wellington, KS |
| Jul 2, 1996 | FRB | Cedar Vale Bank Holding Company, Inc. | Cease and Desist Order: W. C. Long, Jr. |
| Jul 2, 1996 | FRB | Somerset Trust Company | Prohibition from Banking: Mark E. Marteeny |
| Jul 2, 1996 | FRB | Cedar Vale Bank Holding Company, Inc. | Civil Money Penalty $717,941: W. C. Long, Jr. |
| Jul 1, 1996 | OCC_OTS | Lufkin Federal Savings and Loan Association | Orders of Removal/Prohibition: Kimberlee R. Niederhoffer |
| Jun 28, 1996 | OCC | Mechanics National Bank | C&D or PC&D Requiring Restitution: Greenfield, Albert N. |
| Jun 28, 1996 | OCC | Mechanics National Bank | Prohibition/Removal Orders: Greenfield, Albert N. |
| Jun 28, 1996 | OCC | Mechanics National Bank | Civil Money Penalty (CMP): Greenfield, Albert N. |
| Jun 28, 1996 | OCC_OTS | Oak Tree Federal Savings Bank | Cease and Desist: Jack N. Merritt |
| Jun 28, 1996 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Charles A. Ramos |
| Jun 21, 1996 | OCC_OTS | Pioneer Federal Savings Bank | Cease and Desist: Phillip R. Perry |
| Jun 21, 1996 | OCC_OTS | Pioneer Federal Savings Bank | Civil Money Penalty: Catherine HIggins Howard |
| Jun 21, 1996 | OCC_OTS | Pioneer Federal Savings Bank | Civil Money Penalty: Charles Lester Key |
| Jun 21, 1996 | OCC_OTS | Pioneer Federal Savings Bank | Civil Money Penalty: Frederick Marshal Higgins |
| Jun 21, 1996 | OCC_OTS | Pioneer Federal Savings Bank | Civil Money Penalty: Phillip R. Perry |
| Jun 21, 1996 | OCC_OTS | Pioneer Federal Savings Bank | Cease and Desist: Catherine Higgins Howard |
| Jun 21, 1996 | OCC_OTS | Pioneer Bank | Cease and Desist: Charles Lester Key |
| Jun 21, 1996 | OCC_OTS | Pioneer Federal Savings Bank | Cease and Desist: Frederick Marshall Higgins |
| Jun 17, 1996 | FRB | State Bank of Texas | Civil Money Penalty $9,500: William B. Black, III |
| Jun 17, 1996 | OCC_OTS | First Federal Savings Bank | Supervisory Agreement: First Savings Bank, F.S.B. |
| Jun 11, 1996 | FRB | Bankers Company of New York | Cease and Desist Order: Gary Scott Missner |
| Jun 11, 1996 | FRB | Bankers Company of New York | Civil Money Penalty $100,000: Gary Scott Missner |
| Jun 5, 1996 | OCC | Security Bank of South Dakota, National Association | Civil Money Penalty (CMP): Nordstrom, Marcie A. |
| Jun 5, 1996 | OCC | The State National Bank of Garfield | Civil Money Penalty (CMP): Johnson, Donald M. |
| Jun 5, 1996 | OCC | The State National Bank of Garfield | Civil Money Penalty (CMP): Johnson, Dolores A. |
| Jun 5, 1996 | OCC | Security Bank of South Dakota, National Association | Civil Money Penalty (CMP): Nordstrom, Paul H. |
| May 30, 1996 | 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 |
| May 30, 1996 | OCC_OTS | (individual) | Cease and Desist: Ira F. Bailey |
| May 29, 1996 | OCC | The State National Bank of Garfield | Civil Money Penalty (CMP): Johnson, Donald M. |
| May 22, 1996 | FRB | Country Hill Bank | Prohibition from Banking: Albert L. Margolin |
| May 22, 1996 | FRB | (individual) | Civil Money Penalty $5,000: Barry S. Winter |
| May 22, 1996 | FRB | Country Hill Bank | Prohibition from Banking: Joseph G. Donner |
| May 22, 1996 | FRB | (individual) | Civil Money Penalty $2,000: Keith E. Leonard |
| May 22, 1996 | FRB | (individual) | Civil Money Penalty $40,000: Howard S. Miller |
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