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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 19, 1996 Minooka Bancorp, Inc. IL Founders Group, Inc.
Dec 19, 1996 FCNB Realty, Inc. MD FCNB Bank
Dec 18, 1996 Mountain Parks Financial Corporation CO Community First Bankshares, Inc.
Dec 18, 1996 PBZ Limitada Y Cia. S. En C. — Bancol Y Cia. S. En C.
Dec 18, 1996 J.G.D.B. Y Cia. S. En C. — Bancol Y Cia. S. En C.
Dec 16, 1996 First Sun Bank of America MO Sun Security Bank of America
Dec 16, 1996 Big Stone Gap Bank and Trust Company VA Premier Bank-Central, National Association
Dec 16, 1996 McLachlen Bancshares Corporation DC Citizens Bancorp
Dec 14, 1996 The Westport Bank and Trust Company CT Lafayette American Bank
Dec 14, 1996 Westport Bancorp, Inc. CT Hudson United Bancorp
Dec 14, 1996 First Heritage Bank, National Association TX First Service Bank
Dec 14, 1996 Heritage Texas Group, Inc. TX Martex Bancshares, Inc.
Dec 14, 1996 Secure Savings Bank, F.S.B. CA Redlands Federal Bank, a Federal Savings Bank
Dec 13, 1996 State Bank of Osco IL Central Bank Illinois
Dec 13, 1996 Saint Charles Federal Savings and Loan Association MO First Bank, A Federal Savings Bank
Dec 13, 1996 Soya Federal Credit Union OH United Federal Credit Union
Dec 13, 1996 Laurel Federal Savings and Loan Association MS Cadence Bank
Dec 13, 1996 Northern National Bank MN Norwest Bank North Country, National Association
Dec 12, 1996 Main Street Bank GA Main Street Bank
Dec 12, 1996 Greenbush Bancshares, Inc. MN Border Bancshares, Inc.
Dec 9, 1996 First Federal Bank of Northwest Georgia, Federal Savings Bank GA Regions Bank
Dec 9, 1996 Regions Bank, F.S.B. GA Regions Bank
Dec 9, 1996 First National Bank of Platte County MO Mark Twain Kansas City Bank
Dec 8, 1996 Bank One, Elkhorn, National Association WI Bank One, Wisconsin
Dec 8, 1996 Bank One, Wisconsin, National Association WI Bank One, Wisconsin
Dec 8, 1996 Bank One, Beaver Dam WI Bank One, Wisconsin
Dec 8, 1996 Bank One, Antigo WI Bank One, Wisconsin
Dec 8, 1996 Banc One Wisconsin Corporation WI Bank One, Wisconsin
Dec 8, 1996 Bank One, Appleton, National Association WI Bank One, Wisconsin
Dec 8, 1996 Bank One, Madison WI Bank One, Wisconsin
Dec 8, 1996 Bank One, Janesville, National Association WI Bank One, Wisconsin
Dec 8, 1996 (unnamed) — Bank One, Wisconsin
Dec 8, 1996 Bank One, Monroe WI Bank One, Wisconsin
Dec 8, 1996 Bank One, Oshkosh, National Association WI Bank One, Wisconsin
Dec 8, 1996 Bank One, Green Bay WI Bank One, Wisconsin
Dec 8, 1996 Bank One, Stevens Point, National Association WI Bank One, Wisconsin
Dec 8, 1996 Bank One, Fond du Lac WI Bank One, Wisconsin
Dec 7, 1996 New Jersey National Corporation NJ Corestates Financial Corp
Dec 7, 1996 New Jersey National Bank PA Corestates Bank, National Association
Dec 7, 1996 Central Jersey Financial Corporation NJ Summit Bancorp.
Dec 7, 1996 First Federal Bank FL Capital City Bank
Dec 7, 1996 The Grant State Bank MI Valley Ridge Bank
Dec 2, 1996 Orange Bancorp CA Bank of Orange County
Dec 2, 1996 (unnamed) — Union Planters Bank of Southeast Missouri
Dec 2, 1996 Community Charter Corporation MO Roosevelt Financial Group, Inc.
Dec 2, 1996 C&ED Credit Union NJ Credit Union of New Jersey
Dec 2, 1996 Jax Lab Federal Credit Union ME Maine Savings Federal Credit Union
Dec 2, 1996 FW Financial, Inc. SD Christen Group, Inc.
Dec 1, 1996 The Chase Manhattan Bank, National Association NJ JPMorgan Chase Bank, N.A.
Dec 1, 1996 Naval Base Norfolk Federal Credit Union VA Abnb Federal Credit Union

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

Enforcement Actions in 1996

Action date Agency Institution Action
Jan 19, 1996 FRB Jefferson Bank Prohibition from Banking: Steen Ronlov
Jan 17, 1996 FRB Banco Portugues Do Atlantico, S.A. Prohibition from Banking: Anthony Delgado
Jan 16, 1996 OCC_OTS Charter Federal Savings and Loan Association Termination of Cease and Desist: Charter FS&LA
Jan 11, 1996 OCC_OTS First Fidelity Trust Company, New York Orders of Removal/Prohibition: Thomas D. Lovely
Jan 11, 1996 OCC_OTS First Fidelity Trust Company, New York Cease and Desist: Thomas D. Lovely
Jan 10, 1996 OCC_OTS (individual) Orders of Removal/Prohibition: Tamika M. Pack
Jan 10, 1996 OCC_OTS (individual) Cease and Desist: Tamika M. Pack
Jan 10, 1996 OCC_OTS Marine View Savings and Loan Association Cease and Desist: Radics & Co., LLC
Jan 10, 1996 OCC_OTS Plymouth Savings Bank Cease and Desist: Cornelius Bottomley
Jan 10, 1996 OCC Summit National Bank C&D or PC&D Requiring Restitution: Mannello, Joseph
Jan 10, 1996 OCC Summit National Bank Civil Money Penalty (CMP): Manello, Joseph
Jan 2, 1996 OCC_OTS Commercial Federal Bank, a Federal Savings Bank Orders of Removal/Prohibition: Christopher D. Rose
Jan 2, 1996 OCC_OTS Great Lakes National Bank Michigan Cease and Desist: Melissa M. Hall
Jan 2, 1996 OCC_OTS (individual) Cease and Desist: Kevin Spencer
Jan 2, 1996 OCC_OTS Commercial Federal Bank, a Federal Savings Bank Cease and Desist: Christopher D. Rose
Jan 2, 1996 OCC_OTS Great Lakes Bancorp, A FSB Orders of Removal/Prohibition: Melissa M. Hall
Jan 2, 1996 OCC_OTS Pacific Southwest Bank Orders of Removal/Prohibition: Kevin Spencer

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