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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
Nov 14, 1996 CTB Realty Ventures XXX, Inc. CT First Union Bank of Connecticut
Nov 14, 1996 Centerbank Realty Company CT First Union Bank of Connecticut
Nov 14, 1996 CTB Ventures 60, Inc. CT First Union Bank of Connecticut
Nov 14, 1996 CTB Whitney/Hamden, Inc. CT First Union Bank of Connecticut
Nov 14, 1996 CTB Realty Services, Inc. CT First Union Bank of Connecticut
Nov 14, 1996 Center Financial Corporation CT Wachovia Corporation
Nov 14, 1996 Affiliated Business Credit Corp CT First Union Bank of Connecticut
Nov 14, 1996 CTB Ventures 68, Inc. CT First Union Bank of Connecticut
Nov 12, 1996 The First National Bank of Maryland, D.C. DC Allfirst Bank
Nov 8, 1996 Crestar Bank FSB MD Crestar Bank MD
Nov 7, 1996 Today's Bancorp, Inc. IL Ameribanc, Inc.
Nov 7, 1996 Chemical Bank, FSB FL Chase Manhattan Private Bank, N.A.
Nov 2, 1996 Central Federal Credit Union TX Genco Federal Credit Union
Nov 2, 1996 Sunrise Bancorp CA Sundowner Corporation
Nov 2, 1996 First National Bank of Lake Park FL 1st United Bank
Nov 1, 1996 First Financial Corporation of America MO Ameribanc, Inc.
Nov 1, 1996 Sunbeam Employees Federal Credit Union MA First Citizens Federal Credit Union
Nov 1, 1996 Tuscaloosa Bancshares, Inc. LA Deposit Guaranty Louisiana Corp.
Nov 1, 1996 Reading Postal Federal Credit Union PA First Class Federal Credit Union
Nov 1, 1996 Sierra Vista Federal Credit Union CA Rize Federal Credit Union
Nov 1, 1996 Controls Credit Union IL Prairieland Federal Credit Union
Nov 1, 1996 Johnstone Training & Research Center Federal Credit Union NJ Edifi Federal Credit Union
Nov 1, 1996 Metrobank CA Comerica Bank-California
Nov 1, 1996 Topa Savings Bank, FSB CA Regency Savings Bank, A FSB
Nov 1, 1996 Wildupco Federal Credit Union DE Dexsta Federal Credit Union
Nov 1, 1996 Sentinel Federal Savings and Loan Association of Kansas City MO Roosevelt Bank
Nov 1, 1996 First Republic Thrift & Loan CA First Republic Bank
Nov 1, 1996 Topa Thrift and Loan Association CA Regency Savings Bank, A FSB
Nov 1, 1996 Eielson Federal Credit Union AK Global Federal Credit Union
Nov 1, 1996 North Syracuse Federal Credit Union NY Core Credit Union
Nov 1, 1996 Tuscaloosa Commerce Bank LA Deposit Guaranty National Bank of Louisiana
Nov 1, 1996 Sheldon Security Financial Corporation IA Security National Corporation
Nov 1, 1996 Mcu Corporation IL Banc One Illinois Corporation
Nov 1, 1996 Ncaphcc Credit Union NC Members Credit Union
Oct 31, 1996 Wean Industries Employees Credit Union, Inc. OH Credit Union One, Inc.
Oct 31, 1996 American State Bancshares, Inc. OK First National Security Company
Oct 31, 1996 American Fidelity Bank TN GreenBank
Oct 31, 1996 First Monco Bancshares, Inc. AL Banctrust Financial Group, Inc.
Oct 28, 1996 Henry County Bancorp, Inc. IL Orion Bancorporation, Inc.
Oct 28, 1996 Peoples Bank of Cambridge IL Bankorion
Oct 26, 1996 Plainwell Paper Company Incorporated Employees Credit Union MI Advia Credit Union
Oct 26, 1996 Commerce Bank, National Association KS Commerce Bank
Oct 26, 1996 Liberty Bank FL Whitney National Bank of Florida
Oct 26, 1996 (unnamed) — Roosevelt Bank
Oct 26, 1996 American Bank and Trust FL Whitney National Bank of Florida
Oct 26, 1996 Liberty Holding Company FL Whitney Holding Corporation
Oct 26, 1996 BayBank FSB NH BayBank NH, National Association
Oct 26, 1996 FirstSouth Bank NC RBC Bank (USA)
Oct 25, 1996 ProBank TX Compass Bank
Oct 25, 1996 Northern National Bank MN Norwest Bank North Country, National Association

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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