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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
Dec 24, 1996 OCC MetroBank, National Association Civil Money Penalty (CMP): Flanders, Gary W.
Dec 20, 1996 OCC_OTS Boston Five Financial Services, Inc. Cease and Desist: Thomas Steven Moynihan
Dec 20, 1996 FRB Bankers Company of New York Prohibition from Banking: Nir Kantor
Dec 19, 1996 OCC First Central Bank, National Association Prohibition/Removal Orders: Chow, David
Dec 19, 1996 OCC Capital Bank, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Holtz, Abel
Dec 18, 1996 OCC First Central Bank, National Association Civil Money Penalty (CMP): Lew, Dr. Margin
Dec 17, 1996 OCC First Central Bank, National Association Civil Money Penalty (CMP): Lee, George
Dec 17, 1996 OCC First National Bank of Rochester Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Calabrese, Richard A.
Dec 17, 1996 OCC First National Bank of Glenwood C&D or PC&D Requiring Restitution: Oskey, Warren A.
Dec 17, 1996 OCC The First National Bank of the Panhandle C&D or PC&D Requiring Restitution: Berry, Gerald
Dec 17, 1996 OCC First National Bank of Glenwood Prohibition/Removal Orders: Oskey, Warren A.
Dec 17, 1996 OCC The First National Bank of the Panhandle Prohibition/Removal Orders: Berry, Gerald
Dec 17, 1996 OCC First National Bank of Glenwood Civil Money Penalty (CMP): Oskey, Warren A.
Dec 17, 1996 OCC First National Bank of Rochester Civil Money Penalty (CMP): Calabrese, Richard A.
Dec 12, 1996 FRB United Security Bancorporation Cease and Desist Order: David C. Myers
Dec 12, 1996 FRB United Security Bancorporation Cease and Desist Order: United Security Bancorporation, Lincoln, NE
Dec 12, 1996 OCC_OTS Corning Savings and Loan Association Cease and Desist: Corning S&LA
Dec 12, 1996 FRB United Security Bancorporation Cease and Desist Order: Harold S. Myers
Dec 11, 1996 FRB (individual) Prohibition from Banking: George T. Wittman
Dec 9, 1996 OCC_OTS Naugatuck Valley Savings and Loan Association Civil Money Penalty: Dominic J. Alegi
Dec 9, 1996 OCC_OTS Naugatuck Valley Savings and Loan Association Cease and Desist: Dominic J. Alegi
Dec 9, 1996 OCC First Central Bank, National Association Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Chow, David
Dec 9, 1996 OCC Nationsbank Texas Corporation Prohibition/Removal Orders: Conner, Kathryn S.
Dec 9, 1996 OCC The First National Bank at Saint James Civil Money Penalty (CMP): Schutz, Gary
Dec 5, 1996 FRB (individual) Prohibition from Banking: Karen Sanford
Dec 5, 1996 OCC_OTS (individual) Cease and Desist: Michael E. Richardson
Dec 4, 1996 OCC Banc One Colorado Corporation Prohibition/Removal Orders: Munoz, David
Nov 22, 1996 OCC_OTS Universal Bank Civil Money Penalty: Universal Bank
Nov 22, 1996 OCC Mechanics National Bank Prohibition/Removal Orders: Morita, Gerold
Nov 22, 1996 OCC Mechanics National Bank Civil Money Penalty (CMP): Grabowski, Patrick F.
Nov 22, 1996 OCC Banco Nacional, N.A. Civil Money Penalty (CMP): Conde, Carlos
Nov 22, 1996 OCC First National Bank of Rochester Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Piraino, John
Nov 22, 1996 OCC Mechanics National Bank C&D or PC&D Requiring Restitution: Morita, Gerold
Nov 21, 1996 FRB Banco Latino International Cease and Desist Order: Banco Latino C.A., S.A.C.A., Caracas, Venezuela and Banco Latino International, …
Nov 18, 1996 OCC_OTS First Bank of Beverly Hills Cease and Desist: First Bank of Beverly Hills
Nov 18, 1996 OCC_OTS Girard Savings Bank Cease and Desist: Girard SB, FSB
Nov 15, 1996 OCC_OTS (individual) Cease and Desist: Stella Renee Jarvis
Nov 15, 1996 OCC_OTS (individual) Orders of Removal/Prohibition: Stella Renee Jarvis
Nov 14, 1996 OCC Fidelity National Mortgage Corporation Formal Agreement: Fidelity National Bank
Nov 14, 1996 FRB Nippon Credit Trust Company Civil Money Penalty $35,000: Thomas P. Rogers
Nov 14, 1996 FRB Nippon Credit Trust Company Cease and Desist Order: Thomas P. Rogers
Nov 13, 1996 OCC Banco Nacional, N.A. Prohibition/Removal Orders: Conde, Carlos
Nov 7, 1996 OCC_OTS (individual) Civil Money Penalty: Gilbert C., Sr. Gibson
Nov 7, 1996 OCC Rock Hill National Bank Prohibition/Removal Orders: Wright, Michael D.
Nov 1, 1996 FRB Arab American Bank Written Agreement: Arab American Bank, New York, NY
Oct 31, 1996 OCC_OTS American Federal Savings Bank Cease and Desist: Janice Calomiris
Oct 29, 1996 FRB (individual) Prohibition from Banking: Edward Stempniewicz
Oct 24, 1996 OCC BOKF, N.A. Prohibition/Removal Orders: Collier, Barbara J.
Oct 24, 1996 OCC Fidelity National Bank Civil Money Penalty (CMP): Ridgeway, William R.
Oct 22, 1996 OCC Wells Fargo Bank, National Association Prohibition/Removal Orders: El-Feghali, Debra E.

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