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 |
|---|---|---|
| Oct 1, 1996 | Effingham Bank & Trust | Century South Bank of the Coastal Region, National Association |
| Oct 1, 1996 | United Bank & Trust, National Association | Inwood National Bank |
| Oct 1, 1996 | Perfex Credit Union | First Credit Union |
| Oct 1, 1996 | Firstbanc Holding Company, Inc. | Alabama National Bancorporation |
| Oct 1, 1996 | First Wilmington Corp. | Beverly Bancorporation, Inc. |
| Oct 1, 1996 | Royall Financial Corporation | Compass Texas Acquisition Corp. |
| Oct 1, 1996 | Njic, Inc. | Merchants and Manufacturers Bank Corporation |
| Oct 1, 1996 | Allegiance Banc Corporation | F & M National Corporation |
| Oct 1, 1996 | Saint Louis Cathedral Federal Credit Union | Louisiana Central Credit Union |
| Oct 1, 1996 | Industrial Bancshares, Inc. | Valley View Bancshares, Inc. |
| Oct 1, 1996 | Daily News Employees Federal Credit Union | Premier America Credit Union |
| Oct 1, 1996 | Cleghorn State Bank | The First Trust & Savings Bank |
| Oct 1, 1996 | International Bancshares, Inc. | Valley View Bancshares, Inc. |
| Oct 1, 1996 | Dynamic Credit Union | Numark Credit Union |
| Oct 1, 1996 | Mission Bancshares, Inc. | Valley View Bancshares, Inc. |
| Oct 1, 1996 | New York Blower Employees Federal Credit Union | Laporte Community Federal Credit Union |
| Oct 1, 1996 | The First National Bank of Enfield | The First National Bank of Carmi |
| Oct 1, 1996 | Leader Federal Bank for Savings | Union Planters Bank, National Association |
| Oct 1, 1996 | Wasiota Credit Union | Old Hickory Credit Union |
| Oct 1, 1996 | Jantzen Federal Credit Union | Consolidated Federal Credit Union |
| Oct 1, 1996 | Tryon Federal Savings and Loan Association | HomeTrust Bank |
| Oct 1, 1996 | Parmer County Teachers Federal Credit Union | Friona Texas Federal Credit Union |
| Oct 1, 1996 | St. Bernard Bank & Trust Co. | Capital One, N.A. |
| Oct 1, 1996 | Lea County Federal Credit Union | Estacado Federal Credit Union |
| Oct 1, 1996 | Alice Employees Credit Association Federal Credit Union | Anderson Federal Credit Union |
| Oct 1, 1996 | Bank of Southern California | First National Bank |
| Oct 1, 1996 | Southwest Savings Community Credit Union | Bell West Community Credit Union |
| Oct 1, 1996 | Shawmut Trust Company | Fleet Bank |
| Oct 1, 1996 | Compass Bank-Central Texas | Compass Bank |
| Oct 1, 1996 | Big SKY Community Credit Union | Lincoln County Credit Union |
| Oct 1, 1996 | Milk Drivers & Dairy Employees Credit Union | Safeamerica Credit Union |
| Oct 1, 1996 | One Security, Inc. | Valley View Bancshares, Inc. |
| Oct 1, 1996 | Halmode Employees Federal Credit Union | Roanoke Valley Community Federal Credit Union |
| Oct 1, 1996 | First Paintsville Bancshares, Inc. | Classic Bancshares, Inc. |
| Oct 1, 1996 | Fleet Trust Company | Fleet Bank |
| Oct 1, 1996 | Saint John's Healthcare Federal Credit Union | Madison County Federal Credit Union |
| Oct 1, 1996 | Conejo Valley Sda Federal Credit Union | California Adventist Federal Credit Union |
| Oct 1, 1996 | Unocal Bakersfield Federal Credit Union | Safe 1 Credit Union |
| Oct 1, 1996 | S&K Employees Federal Credit Union | Police and Fire Federal Credit Union |
| Oct 1, 1996 | The Royall National Bank of Palestine | Compass Bank |
| Oct 1, 1996 | American Mirrex Federal Credit Union | Del-One Federal Credit Union |
| Oct 1, 1996 | Camas Prairie Railroad Federal Credit Union | Lewis Clark Credit Union |
| Sep 30, 1996 | Faribo Credit Union | Home Town Federal Credit Union |
| Sep 30, 1996 | Central West Bancorporation | Pathward Financial, Inc. |
| Sep 30, 1996 | New Horizons Savings and Loan Association | Luther Burbank Savings |
| Sep 30, 1996 | Heritage National Bank | SouthTrust Bank of Florida, National Association |
| Sep 30, 1996 | Knights Family Federal Credit Union | Indiana Members Credit Union |
| Sep 30, 1996 | Heritage Bancshares, Inc. | Southtrust of Florida, Incorporated |
| Sep 30, 1996 | N.J. State Employees Federal Credit Union | Edifi Federal Credit Union |
| Sep 28, 1996 | Citnat Bancorp, Inc. | Security Banc Corporation |
The list holds 500 of the 1,203 mergers recorded for 1996.
Enforcement Actions in 1996
| Action date | Agency | Institution | Action |
|---|---|---|---|
| May 22, 1996 | FRB | (individual) | Cease and Desist Order: Keith E. Leonard |
| May 22, 1996 | FRB | Country Hill Bank | Cease and Desist Order: Joseph G. Donner |
| May 22, 1996 | FRB | (individual) | Cease and Desist Order: Howard S. Miller |
| May 22, 1996 | FRB | (individual) | Cease and Desist Order: Barry S. Winter |
| May 22, 1996 | FRB | Country Hill Bank | Cease and Desist Order: Albert L. Margolin |
| May 22, 1996 | OCC_OTS | Summit Federal Savings and Loan Association | Orders of Removal/Prohibition: Concetta Cannataro |
| May 20, 1996 | OCC | First National Bank of Effingham | Civil Money Penalty (CMP): Atkins, David M. |
| Apr 30, 1996 | OCC_OTS | Firstbanc Savings of Texas | Supervisory Agreement: FirstBanc Savings Association of Texas |
| Apr 24, 1996 | OCC_OTS | Great West, a Federal Savings Bank | Orders of Removal/Prohibition: Tom R. Waymire |
| Apr 24, 1996 | OCC_OTS | Local America Bank of Tulsa, A Federal Savings Bank | Orders of Removal/Prohibition: Lisa M. DeMoss |
| Apr 24, 1996 | OCC_OTS | Superior Financial Services, Inc | Orders of Removal/Prohibition: Melissa Gail Bell |
| Apr 24, 1996 | OCC_OTS | Superior Financial Services, Inc | Orders of Removal/Prohibition: Tracie Ann Swearingen |
| Apr 24, 1996 | OCC_OTS | Local America Bank of Tulsa, A Federal Savings Bank | Cease and Desist: Lisa M. DeMoss |
| Apr 24, 1996 | OCC_OTS | Superior Financial Services, Inc | Cease and Desist: Tracie Ann Swearingen |
| Apr 23, 1996 | FRB | Banco Boliviano Americano, S.A. | Written Agreement: Banco Boliviano Americano, La Paz, Bolivia and Banco Boliviano Americano, Miami, FL |
| Apr 19, 1996 | FRB | (individual) | Prohibition from Banking: Michael J. Galietta |
| Apr 19, 1996 | OCC_OTS | Charter Oak Federal Savings Bank | Orders of Removal/Prohibition: John C. Brauer |
| Apr 17, 1996 | FRB | (individual) | Prohibition from Banking: Ricardo Colon |
| Apr 15, 1996 | OCC_OTS | Charter Oak Federal Savings Bank | Cease and Desist: David C. Banker |
| Apr 12, 1996 | FRB | Keyesport Bancshares, Inc. | Written Agreement: Keyesport Bancshares, Inc., Keyesport, IL |
| Apr 11, 1996 | OCC_OTS | The First National Bank of Iowa | Orders of Removal/Prohibition: Linda K. Cross |
| Apr 10, 1996 | OCC_OTS | United Savings Association of Texas | Orders of Removal/Prohibition: Prakash Zachariah Mathew |
| Apr 10, 1996 | OCC_OTS | TCF Financial Corp. | Orders of Removal/Prohibition: James D. Lyall |
| Apr 10, 1996 | OCC_OTS | TCF Financial Corp. | Cease and Desist: James D. Lyall |
| Apr 9, 1996 | FRB | (individual) | Civil Money Penalty $1,000,000: Interamericas Investments, Ltd., George Town, Cayman Islands |
| Apr 9, 1996 | FRB | (individual) | Cease and Desist Order: Interamericas Investments, Ltd., George Town, Cayman Islands |
| Apr 9, 1996 | OCC | First National Bank of Shawnee Mission | Prohibition/Removal Orders: Jackson, Robert L. |
| Apr 9, 1996 | OCC | First National Bank of Shawnee Mission | Civil Money Penalty (CMP): Jackson, Robert L. |
| Apr 9, 1996 | OCC | (individual) | Civil Money Penalty (CMP): Kim, Charles |
| Apr 9, 1996 | OCC | (individual) | Civil Money Penalty (CMP): Kim, Sunnie |
| Apr 9, 1996 | FRB | (individual) | Civil Money Penalty $10,000: Peter Ulrich |
| Apr 9, 1996 | FRB | (individual) | Cease and Desist Order: Peter Ulrich |
| Apr 5, 1996 | OCC_OTS | Central West End Bank | Orders of Removal/Prohibition: Kristine L. Martin |
| Mar 25, 1996 | OCC | (individual) | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Ward, Wayne |
| Mar 25, 1996 | OCC_OTS | General Federal Savings Bank | Decision/Opinion and Order: Pedro Roman Lopez |
| Mar 25, 1996 | OCC | First Central Bank, National Association | Civil Money Penalty (CMP): Ward, Wayne |
| Mar 25, 1996 | OCC | (individual) | Prohibition/Removal Orders: Ward, Wayne |
| Mar 25, 1996 | OCC_OTS | General Federal Savings Bank | Decision/Opinion and Order: Teresa Saldise |
| Mar 25, 1996 | OCC | (individual) | Civil Money Penalty (CMP): Ward, Wayne |
| Mar 22, 1996 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Clark W. Wideman |
| Mar 21, 1996 | OCC_OTS | Davy Crockett Federal Savings & Loan Association | Termination of Cease and Desist: Patricia Lucas |
| Mar 20, 1996 | OCC | Summit National Bank | Civil Money Penalty (CMP): Gugliotti, Frank |
| Mar 20, 1996 | OCC | Summit National Bank | C&D or PC&D Requiring Restitution: Gugliotti, Frank |
| Mar 19, 1996 | FRB | (individual) | Civil Money Penalty $100,000: Banque Worms, S.A., Paris, France and Banque Worms Capital Corporation, … |
| Mar 19, 1996 | FRB | (individual) | Written Agreement: Banque Worms, S.A., Paris, France and Banque Worms Capital Corporation, New York, … |
| Mar 18, 1996 | FRB | (individual) | Cease and Desist Order: The Daiwa Bank, Limited, Osaka, Japan, and The Daiwa Bank … |
| Mar 15, 1996 | OCC_OTS | Topa Savings Bank | Civil Money Penalty: Robert Hollman |
| Mar 14, 1996 | OCC | Capital National Bank | C&D or PC&D Requiring Restitution: Martinez, Ramon |
| Mar 14, 1996 | OCC_OTS | (individual) | Civil Money Penalty: Gary L. Holman |
| Mar 14, 1996 | OCC_OTS | (individual) | Cease and Desist: Gary L. Holman |
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