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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
Oct 1, 1996 Effingham Bank & Trust GA Century South Bank of the Coastal Region, National Association
Oct 1, 1996 United Bank & Trust, National Association TX Inwood National Bank
Oct 1, 1996 Perfex Credit Union WI First Credit Union
Oct 1, 1996 Firstbanc Holding Company, Inc. AL Alabama National Bancorporation
Oct 1, 1996 First Wilmington Corp. IL Beverly Bancorporation, Inc.
Oct 1, 1996 Royall Financial Corporation TX Compass Texas Acquisition Corp.
Oct 1, 1996 Njic, Inc. IL Merchants and Manufacturers Bank Corporation
Oct 1, 1996 Allegiance Banc Corporation MD F & M National Corporation
Oct 1, 1996 Saint Louis Cathedral Federal Credit Union LA Louisiana Central Credit Union
Oct 1, 1996 Industrial Bancshares, Inc. KS Valley View Bancshares, Inc.
Oct 1, 1996 Daily News Employees Federal Credit Union CA Premier America Credit Union
Oct 1, 1996 Cleghorn State Bank IA The First Trust & Savings Bank
Oct 1, 1996 International Bancshares, Inc. MO Valley View Bancshares, Inc.
Oct 1, 1996 Dynamic Credit Union IL Numark Credit Union
Oct 1, 1996 Mission Bancshares, Inc. KS Valley View Bancshares, Inc.
Oct 1, 1996 New York Blower Employees Federal Credit Union IN Laporte Community Federal Credit Union
Oct 1, 1996 The First National Bank of Enfield IL The First National Bank of Carmi
Oct 1, 1996 Leader Federal Bank for Savings TN Union Planters Bank, National Association
Oct 1, 1996 Wasiota Credit Union TN Old Hickory Credit Union
Oct 1, 1996 Jantzen Federal Credit Union OR Consolidated Federal Credit Union
Oct 1, 1996 Tryon Federal Savings and Loan Association NC HomeTrust Bank
Oct 1, 1996 Parmer County Teachers Federal Credit Union TX Friona Texas Federal Credit Union
Oct 1, 1996 St. Bernard Bank & Trust Co. LA Capital One, N.A.
Oct 1, 1996 Lea County Federal Credit Union NM Estacado Federal Credit Union
Oct 1, 1996 Alice Employees Credit Association Federal Credit Union SC Anderson Federal Credit Union
Oct 1, 1996 Bank of Southern California CA First National Bank
Oct 1, 1996 Southwest Savings Community Credit Union IL Bell West Community Credit Union
Oct 1, 1996 Shawmut Trust Company NY Fleet Bank
Oct 1, 1996 Compass Bank-Central Texas TX Compass Bank
Oct 1, 1996 Big SKY Community Credit Union MT Lincoln County Credit Union
Oct 1, 1996 Milk Drivers & Dairy Employees Credit Union CA Safeamerica Credit Union
Oct 1, 1996 One Security, Inc. KS Valley View Bancshares, Inc.
Oct 1, 1996 Halmode Employees Federal Credit Union VA Roanoke Valley Community Federal Credit Union
Oct 1, 1996 First Paintsville Bancshares, Inc. KY Classic Bancshares, Inc.
Oct 1, 1996 Fleet Trust Company NY Fleet Bank
Oct 1, 1996 Saint John's Healthcare Federal Credit Union IN Madison County Federal Credit Union
Oct 1, 1996 Conejo Valley Sda Federal Credit Union CA California Adventist Federal Credit Union
Oct 1, 1996 Unocal Bakersfield Federal Credit Union CA Safe 1 Credit Union
Oct 1, 1996 S&K Employees Federal Credit Union PA Police and Fire Federal Credit Union
Oct 1, 1996 The Royall National Bank of Palestine TX Compass Bank
Oct 1, 1996 American Mirrex Federal Credit Union DE Del-One Federal Credit Union
Oct 1, 1996 Camas Prairie Railroad Federal Credit Union ID Lewis Clark Credit Union
Sep 30, 1996 Faribo Credit Union MN Home Town Federal Credit Union
Sep 30, 1996 Central West Bancorporation IA Pathward Financial, Inc.
Sep 30, 1996 New Horizons Savings and Loan Association CA Luther Burbank Savings
Sep 30, 1996 Heritage National Bank FL SouthTrust Bank of Florida, National Association
Sep 30, 1996 Knights Family Federal Credit Union IN Indiana Members Credit Union
Sep 30, 1996 Heritage Bancshares, Inc. FL Southtrust of Florida, Incorporated
Sep 30, 1996 N.J. State Employees Federal Credit Union NJ Edifi Federal Credit Union
Sep 28, 1996 Citnat Bancorp, Inc. OH Security Banc Corporation

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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