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 |
|---|---|---|
| Aug 30, 1996 | Merrill/Norstar Bankshare Association | Fleetboston Financial Corporation |
| Aug 27, 1996 | FNB Bancshares, Inc. | First Banking Company of Southeast Georgia |
| Aug 27, 1996 | Chequamegon Credit Union | Superior Choice Credit Union |
| Aug 27, 1996 | Southwest Tennessee Bancshares, Inc. | Chester County Bancshares, Inc. |
| Aug 27, 1996 | North Central Washington Bank | Central Washington Bank |
| Aug 26, 1996 | The Calcasieu-Marine National Bank of Lake Charles | Capital One, N.A. |
| Aug 26, 1996 | (unnamed) | Simmons First Bank of South Arkansas |
| Aug 26, 1996 | National Bank of Fairhaven | Slade's Ferry Trust Company |
| Aug 26, 1996 | C M Bank Holding Company | Hibernia Corporation |
| Aug 24, 1996 | CFB Bancorp, Inc. | BBVA USA Bancshares, Inc. |
| Aug 24, 1996 | Community First Bank | Compass Bank |
| Aug 23, 1996 | Mercantile Bank of Topeka | (unnamed) |
| Aug 23, 1996 | Manistee Salt Employees Credit Union | Filer Credit Union |
| Aug 23, 1996 | The Bank of Heard County | Regions Bank |
| Aug 22, 1996 | Northern Illinois Financial Corporation | Grand Premier Financial, Inc. |
| Aug 22, 1996 | Premier Financial Services, Inc. | Grand Premier Financial, Inc. |
| Aug 22, 1996 | Premier Acquisition Company | Grand Premier Financial, Inc. |
| Aug 19, 1996 | Franklin National Bank of Virginia | Franklin National Bank of Washington, D.C. |
| Aug 17, 1996 | Mercantile Bank of Henry County | Mercantile Bank of Eastern Iowa |
| Aug 17, 1996 | Mercantile Bank of Clinton | Mercantile Bank of Eastern Iowa |
| Aug 17, 1996 | Firstbanc Savings of Texas | Fort Bend Federal Savings and Loan Association |
| Aug 17, 1996 | First Community Bank | RBC Bank (USA) |
| Aug 17, 1996 | Mercantile Bank of Washington | Mercantile Bank of Eastern Iowa |
| Aug 17, 1996 | Mercantile Bank of Maquoketa | Mercantile Bank of Eastern Iowa |
| Aug 17, 1996 | Mercantile Bank of Cedar Rapids, Iowa | Mercantile Bank of Eastern Iowa |
| Aug 16, 1996 | First Gwinnett Bancshares, Inc. | Regions Financial Corporation |
| Aug 16, 1996 | Chase Financial Services, Inc. | First Bank |
| Aug 16, 1996 | First Gwinnett Bank | Regions Bank |
| Aug 16, 1996 | Rockdale Community Bank | Regions Bank |
| Aug 16, 1996 | Mercantile Bank of Conway County National Association | Mercantile Bank of Arkansas National Association |
| Aug 16, 1996 | Bank Chase | First Bank |
| Aug 16, 1996 | Mercantile Bank of Crawford County, National Association | Mercantile Bank of Arkansas National Association |
| Aug 16, 1996 | Charter National Bank-Colonial | NationsBank of Texas, National Association |
| Aug 16, 1996 | Riverside National Bank | First State Bank of Texas |
| Aug 16, 1996 | Mercantile Bank of North Central Arkansas National Association | Mercantile Bank of Arkansas National Association |
| Aug 16, 1996 | Mercantile Bank of Heber Springs National Association | Mercantile Bank of Arkansas National Association |
| Aug 16, 1996 | Mountain Parks Bank-East | Community First National Bank |
| Aug 16, 1996 | Mountain Parks Bank - West | Community First National Bank |
| Aug 16, 1996 | University National Bank - Galveston | NationsBank of Texas, National Association |
| Aug 16, 1996 | Charter National Bank - Houston | NationsBank of Texas, National Association |
| Aug 16, 1996 | Bank of Louisville | Community First National Bank |
| Aug 16, 1996 | First National Bank of Denham Springs | Whitney Bank |
| Aug 14, 1996 | Chase Federal Bank, a Federal Savings Bank | NationsBank, National Association (South) |
| Aug 12, 1996 | Holy Ghost Faith Federal Credit Union | Saint Landry Parish Federal Credit Union |
| Aug 12, 1996 | North Bank | Independent Bank |
| Aug 10, 1996 | California United Bank, National Association | California United Bank |
| Aug 10, 1996 | Home Interstate Bancorp | Cu Bancorp |
| Aug 9, 1996 | Fairfax Bank & Trust Company | F & M Bank - Northern Virginia |
| Aug 9, 1996 | Delta Bank & Trust Company | Regions Bank of Louisiana |
| Aug 9, 1996 | U. S. Bank of Idaho, N.A. | U. S. Bank of Idaho |
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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