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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 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
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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