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 | Assets |
|---|---|---|
| Aug 16, 1996 | Commonwealth Thrift & Loan | $11.5M |
| Aug 9, 1996 | Union Federal Bank, FSB | $32.6M |
| Jul 12, 1996 | Fairfield First Bank & Trust Co | $57.3M |
| Jun 14, 1996 | First NB of the Panhandle | $68.1M |
| May 31, 1996 | People's Bank & Trust | $22.7M |
| Mar 8, 1996 | Metrobank of Philadelphia | $40.4M |
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 | Acquirer |
|---|---|---|
| Sep 28, 1996 | First Southern State Bank | Covenant Bank |
| Sep 28, 1996 | Barnett Bank of Marion County, National Association | Barnett Bank, National Association |
| Sep 28, 1996 | Barnett Bank of Pinellas County | Barnett Bank, National Association |
| Sep 28, 1996 | Nine West Group of Vevay Employees Credit Union | Members Trust Federal Credit Union |
| Sep 28, 1996 | Barnett Bank of Southwest Florida | Barnett Bank, National Association |
| Sep 28, 1996 | Palm Springs Savings Bank, FSB | Hemet Federal Savings and Loan Association |
| Sep 28, 1996 | Texas American Bank | Compass Bank |
| Sep 27, 1996 | Shawmut New York Corporation | Fleet New York, Inc. |
| Sep 27, 1996 | American Bank of Pryor | RCB Bank |
| Sep 27, 1996 | Norwest Bank Texas, New Braunfels | Norwest Bank Texas, South Central |
| Sep 27, 1996 | Citizens Financial Services Corporation | Citizens Trust Company |
| Sep 27, 1996 | First Community Bank and Trust Company of Lone Grove | First National Bank and Trust Company of Ardmore |
| Sep 26, 1996 | Granite Holding Corporation | Independent Bancshares, Inc. |
| Sep 24, 1996 | First American Bank of Tangipahoa | First American Bank and Trust |
| Sep 23, 1996 | Norwest Bank Texas, Austin, National Association | Norwest Bank Texas, South Central |
| Sep 21, 1996 | Bank of Garber | First American Bank |
| Sep 21, 1996 | Jessamine First Federal Savings and Loan Association | Kentucky Bank |
| Sep 21, 1996 | Goodhue State Bank | First Farmers & Merchants Bank |
| Sep 20, 1996 | Community Bank & Trust Co. | First Fidelity Bank |
| Sep 20, 1996 | Itt Standard Federal Credit Union | Crossroads Community Federal Credit Union |
| Sep 20, 1996 | Comban Shares, Inc. | First Fidelity Bancorp, Inc. |
| Sep 18, 1996 | Security Savings Bank, F.S.B. | Constitution Bank, N.A. |
| Sep 18, 1996 | WFS Bancorp, Inc. | Emprise Financial Corporation |
| Sep 16, 1996 | First National Bank of Wheeling | Corus Bank, N.A. |
| Sep 16, 1996 | Lamb's Bank of Michigan City | First United Bank |
| Sep 16, 1996 | Madison Bank, National Association | Corus Bank, N.A. |
| Sep 16, 1996 | Aetna Bancorp, Inc. | Corus Bankshares, Inc. |
| Sep 16, 1996 | Madison Financial Corporation | Corus Bankshares, Inc. |
| Sep 16, 1996 | First State Bank of Calumet City | Corus Bank, N.A. |
| Sep 16, 1996 | Wilmot State Bank | Delta Trust & Bank |
| Sep 14, 1996 | The Bank of Commerce, National Association | Valliwide Bank |
| Sep 14, 1996 | Mercantile Bank of Humboldt County | Mercantile Bank MidWest |
| Sep 14, 1996 | Auburn Bancorp | Vallicorp Holdings, Inc. |
| Sep 14, 1996 | Mercantile Bank of the Bluffs | Mercantile Bank MidWest |
| Sep 14, 1996 | The First Bank | Will Rogers Bank |
| Sep 14, 1996 | LeClaire State Bank | Great River Bank & Trust |
| Sep 14, 1996 | Mercantile Bank of Mount Ayr | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Boone | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Centerville | Mercantile Bank MidWest |
| Sep 14, 1996 | American Bank & Trust Company of Houma | Regions Bank of Louisiana |
| Sep 14, 1996 | Mercantile Bank of Osceola County | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Onawa | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Chariton | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Lyon County | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Jasper County | Mercantile Bank MidWest |
| Sep 14, 1996 | Bank One, Lexington, National Association | Bank One, Kentucky, National Association |
| Sep 14, 1996 | The Jewett City Trust Company | Jewett City Savings Bank |
| Sep 14, 1996 | Mercantile Bank of Clay County | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Pella | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Marshalltown | Mercantile Bank MidWest |
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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