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 |
|---|---|---|---|
| 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 |
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