Skip to main content

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
Mar 14, 1996 OCC Capital National Bank Prohibition/Removal Orders: Martinez, Ramon
Mar 13, 1996 FRB Chemical New York, Inc. Prohibition from Banking: Victor Gomez
Mar 8, 1996 OCC Mission Viejo National Bank Civil Money Penalty (CMP): Brady, William T.
Mar 8, 1996 OCC Mission Viejo National Bank Prohibition/Removal Orders: Brady, William T.
Mar 8, 1996 OCC Mission Viejo National Bank Prohibition/Removal Orders: Wakeman, Robert N.
Mar 8, 1996 OCC Vineyard National Bancorp Civil Money Penalty (CMP): Vineyard National Bank
Mar 7, 1996 OCC Guaranty National Bank of Tallahassee Formal Agreement: Guaranty National Bank Of Tallahassee
Mar 7, 1996 OCC_OTS (individual) Prompt Corrective Action: Torrance Bank, SSB
Mar 6, 1996 FRB (individual) Civil Money Penalty $3,500,000: Swiss Bank Corporation, New York, NY
Mar 5, 1996 OCC Vineyard National Bancorp Formal Agreement: Vineyard National Bank
Mar 4, 1996 OCC_OTS Action Federal Savings Bank Orders of Removal/Prohibition: Joseph J. Caucino
Mar 4, 1996 OCC First National Bank of Shawnee Mission Civil Money Penalty (CMP): Levitt, James J.
Mar 4, 1996 OCC First National Bank of Shawnee Mission Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Levitt, James J.
Feb 27, 1996 OCC_OTS (individual) Orders of Removal/Prohibition: Bonnie Hanson
Feb 27, 1996 FRB Bankers Company of New York Civil Money Penalty $50,000: Mitchell A. Vasquez
Feb 27, 1996 FRB Bankers Company of New York Cease and Desist Order: Mitchell A. Vasquez
Feb 26, 1996 OCC_OTS First National Bank of Shenandoah Termination of Cease and Desist: First FSB of Shenandoah Valley
Feb 26, 1996 OCC_OTS First National Bank of Shenandoah Cease and Desist: First FSB of Shenandoah Valley
Feb 22, 1996 OCC_OTS (individual) Orders of Removal/Prohibition: David P. Potter
Feb 22, 1996 OCC_OTS Orange Savings and Loan Association Orders of Removal/Prohibition: Charles R. Davis
Feb 22, 1996 OCC_OTS Orange Savings and Loan Association Cease and Desist: Charles R. Davis
Feb 21, 1996 OCC_OTS First Commercial Savings Bank Supervisory Agreement: First Commercial Bank, ssb
Feb 21, 1996 OCC_OTS (individual) Orders of Removal/Prohibition: Vincent Elias
Feb 20, 1996 OCC Summit National Bank Civil Money Penalty (CMP): Garrity, Michael
Feb 20, 1996 OCC American Commerce National Bank Civil Money Penalty (CMP): Garner, Gerald
Feb 20, 1996 OCC American Commerce National Bank Civil Money Penalty (CMP): Garner, Daniel
Feb 20, 1996 OCC The Park Avenue Bank Civil Money Penalty (CMP): Aksoy, Erol
Feb 20, 1996 OCC The Park Avenue Bank Civil Money Penalty (CMP): Aksoy, Erol
Feb 20, 1996 OCC Summit National Bank C&D or PC&D Requiring Restitution: Garrity, Michael
Feb 20, 1996 OCC American Commerce National Bank Prohibition/Removal Orders: Garner, Daniel
Feb 20, 1996 OCC American Commerce National Bank Prohibition/Removal Orders: Garner, Gerald
Feb 20, 1996 OCC American Commerce National Bank Prohibition/Removal Orders: Garner, Joan
Feb 20, 1996 OCC_OTS (individual) Orders of Removal/Prohibition: Gary Dunn
Feb 20, 1996 OCC American Commerce National Bank Civil Money Penalty (CMP): Garner, Joan
Feb 15, 1996 FRB Northern Bancorp, Inc. Written Agreement: Northern Bancorp, Inc., Woburn, MA
Feb 15, 1996 FRB Northern Bancorp, Inc. Written Agreement: Robert L. McCrensky
Feb 15, 1996 FRB Northern Bancorp, Inc. Written Agreement: James J. Mawn
Feb 12, 1996 OCC_OTS First Federal Savings and Loan Association of Englewood Orders of Removal/Prohibition: Denny F. Rouse
Feb 12, 1996 OCC_OTS First FS&LA of LA Civil Money Penalty: Denny F. Rouse
Feb 12, 1996 OCC The State National Bank of Garfield Civil Money Penalty (CMP): Johnson, Donald M.
Feb 8, 1996 OCC_OTS Great Southern Savings and Loan Association Orders of Removal/Prohibition: Stephen L. Cauthon
Feb 6, 1996 OCC Progressive National Bank Formal Agreement: Progressive National Bank Of Desoto Parish
Feb 6, 1996 OCC_OTS First Federal Savings and Loan Association of Fargo Orders of Removal/Prohibition: Gregory J. Score
Feb 1, 1996 OCC_OTS (individual) Cease and Desist: Billy David Wylie
Jan 31, 1996 OCC Summit National Bank C&D or PC&D Requiring Restitution: Summa, William
Jan 31, 1996 OCC Summit National Bank Civil Money Penalty (CMP): Summa, William
Jan 27, 1996 OCC The Wolfe City National Bank in Wolfe City Prohibition/Removal Orders: Doyle, J. Michael
Jan 26, 1996 FRB Mercantile Capital Corp Written Agreement: Mercantile Capital Corp., Boston, MA
Jan 26, 1996 OCC_OTS River Valley Savings Bank, FSB Cease and Desist: River Valley SB, FSB
Jan 23, 1996 OCC The Malta National Bank Civil Money Penalty (CMP): Best, K. Lucille

Browse adjacent years: 1995 · 1997

Or jump to a category: Failures · Mergers · Enforcement · Assistance