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Calendar Year

1997 in US Banking

1,527 bank events are on record for 1997: 1 failure, 1,240 mergers or acquisitions involving a bank, credit union or bank holding company, and 286 enforcement actions.

1
Failures
$27.9M in failed assets
1,240
Mergers
Federal Reserve NIC, banking organizations
286
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings

Jump to: Bank failures 1997 · Bank mergers 1997

How many banks failed in 1997?

1 bank failed in 1997, with $27.9M in assets. Each failure below links to its own page.

Date Bank HQ Assets Acquirer or resolution
Nov 21, 1997 Southwest Bank Jennings, LA $27.9M First Southwest Bank

Which banks merged in 1997?

1,240 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1997.

See the fuller list: Bank mergers 1997 with largest deals and credit union mergers ›

Date Acquired St Acquirer
Dec 2, 1997 County Financial Corporation FL Republic Security Financial Corporation
Dec 1, 1997 M G H Federal Credit Union IN Indiana Members Credit Union
Dec 1, 1997 First Bank of the Americas NY Commercial Bank of New York
Dec 1, 1997 Libertyville Bancorp, Inc. IL Wintrust Financial Corporation
Dec 1, 1997 (unnamed) — First Bank of California
Dec 1, 1997 Tobacco Root Federal Credit Union MT High Peaks Federal Credit Union
Dec 1, 1997 Eastern American Bank, Federal Savings Bank VA Resource Bank
Dec 1, 1997 Comerica Mortgage Corporation MI Comerica Bank
Dec 1, 1997 PNC Trust Company of New York NY PNC Bank, N.A.
Dec 1, 1997 Guaranty Bancshares Holding Corporation LA M C Bancshares, Inc.
Dec 1, 1997 First American Bancorp AL Alabama National Bancorporation
Dec 1, 1997 (unnamed) — Union Planters Bank of Southeast Missouri
Dec 1, 1997 First Acadian Bancshares, Inc. LA Union Planters Corporation
Dec 1, 1997 Lake Forest Bancorp, Inc. IL Wintrust Financial Corporation
Dec 1, 1997 First National Summit Bankshares, Inc. CO Community First Bankshares, Inc.
Dec 1, 1997 MD&F Employees Federal Credit Union NC Members Credit Union
Dec 1, 1997 Acadian Bank LA Union Planters Bank of Louisiana
Dec 1, 1997 Hinsdale Bancorp, Inc. IL Wintrust Financial Corporation
Dec 1, 1997 Guaranty Bank & Trust Company of Morgan City LA M C Bank & Trust Company
Dec 1, 1997 PNC National Bank of Delaware DE PNC Bank, Delaware
Dec 1, 1997 Fillmore Building & Loan Association PA Port Richmond Savings
Dec 1, 1997 PNC Mortgage Bank, N.A. PA PNC Bank, N.A.
Nov 29, 1997 Western Community Bank CO WestStar Bank
Nov 29, 1997 Signet Bank VA Wachovia Bank, N.A.
Nov 29, 1997 Signet Banking Corporation VA Wachovia Corporation
Nov 29, 1997 Daniel Employees Credit Union TX Members Choice Credit Union
Nov 25, 1997 Republic National Bancorp, Inc. AZ Community First Bankshares, Inc.
Nov 24, 1997 First Security Bank of Wyoming WY Wells Fargo Trust Company, N.A.
Nov 24, 1997 Mount Carmel M B C Credit Union OH Wright-Dunbar Area Credit Union, Inc.
Nov 24, 1997 Southlake Bancshares, Inc. TX First Financial Bankshares of Delaware, Inc.
Nov 24, 1997 Roscoe Financial Services, Inc. SD Roscoe Community Bankshares, Inc.
Nov 23, 1997 Citizens National Bank of Madison IN River Valley Financial Bank
Nov 22, 1997 Mercantile Bank, FSB IA Mercantile Bank of Eastern Iowa
Nov 22, 1997 First Bank of Deer Park TX Bayshore National Bank of La Porte
Nov 22, 1997 First Bank TX LegacyTexas Bank
Nov 22, 1997 First Southeast Financial Corporation SC The South Financial Group, Inc.
Nov 22, 1997 Naval Hospital Credit Union VA Navy Federal Credit Union
Nov 22, 1997 First Federal Savings and Loan Association of Anderson SC Carolina First Bank
Nov 22, 1997 Norwest Bank Texas, South Central TX Wells Fargo Bank Texas, National Association
Nov 22, 1997 Texas National Bank of Baytown TX Bayshore National Bank of La Porte
Nov 22, 1997 Charter State Bank AR First National Bank
Nov 22, 1997 The First National Bank of Wilcox NE Iowa - Nebraska State Bank
Nov 21, 1997 Apci Plant 4 Federal Credit Union PA Apci Federal Credit Union
Nov 21, 1997 Mercantile Bank of Naples FL First National Bank of Florida
Nov 20, 1997 Hazelton Bancshares, Inc. ND Bank of Hazelton
Nov 15, 1997 Star Financial Bank, Columbia City, Indiana IN Star Financial Bank
Nov 15, 1997 Star Financial Bank, New Castle, Indiana IN Star Financial Bank
Nov 15, 1997 First American Bank, National Association ND Bremer Bank, National Association
Nov 15, 1997 The Chase Manhattan Trust Company of California, N.A. CA J.P. Morgan Trust Company, N.A.
Nov 15, 1997 Farmers State Bank IN The Farmers State Bank of Union City

The list holds 500 of the 1,240 mergers recorded for 1997.

Enforcement Actions in 1997

Action date Agency Institution Action
Aug 5, 1997 OCC Rosemount National Bank Formal Agreement: Rosemount National Bank
Jul 30, 1997 OCC Tri-County National Bank Civil Money Penalty (CMP): Swenson, Dale E.
Jul 29, 1997 OCC_OTS Hancock Savings Bank Termination of Cease and Desist: Hancock SB, FSB
Jul 25, 1997 OCC First National Bank and Trust Company Civil Money Penalty (CMP): Towe, Edward
Jul 25, 1997 OCC Bank of America, N.A. Prohibition/Removal Orders: Carcamo, Jocelyn
Jul 25, 1997 OCC First National Bank and Trust Company Civil Money Penalty (CMP): Towe, Thomas
Jul 24, 1997 OCC_OTS Ladysmith Federal Savings & Loan Association Orders of Removal/Prohibition: Karen L. Evert
Jul 23, 1997 OCC Clewiston National Bank Formal Agreement: Clewiston National Bank
Jul 22, 1997 OCC_OTS Fidelity Federal Bank, a Federal Savings Bank Orders of Removal/Prohibition: Mark S. Todd
Jul 21, 1997 OCC Wells Fargo Bank, N.A. Prohibition/Removal Orders: McCallum, Carole
Jul 17, 1997 OCC (individual) Prohibition/Removal Orders: Carrell, Cheryl
Jul 11, 1997 FRB (individual) Civil Money Penalty $900,000: Postipankki Ltd., Helsinki, Finland and Postipankki Ltd., New York, NY
Jul 8, 1997 OCC Bank of America, N.A. Prohibition/Removal Orders: Mesina, Michelle A.
Jun 25, 1997 OCC_OTS Southeastern Financial, Inc. Supervisory Agreement: Southeastern Financial Corporation
Jun 25, 1997 FRB Credit Lyonnais Prohibition from Banking: David A. Kuhn
Jun 23, 1997 FRB Zia New Mexico Bank Cease and Desist Order: G. A. Poling
Jun 23, 1997 FRB Zia New Mexico Bank Cease and Desist Order: Zia New Mexico Bank, Tucumcari, NM
Jun 20, 1997 OCC McAllen National Bank Formal Agreement: McAllen National Bank
Jun 19, 1997 OCC_OTS Community Bank of Excelsior Springs, a SB Orders of Removal/Prohibition: Peggy L. Clark
Jun 19, 1997 OCC_OTS Eureka Homestead Cease and Desist: Roth, Murphy, Sanford & Co.
Jun 16, 1997 OCC Metrobank of Philadelphia, N.A. Prohibition/Removal Orders: Weisbein, Raymond G.
Jun 16, 1997 OCC Metrobank of Philadelphia, N.A. Civil Money Penalty (CMP): Weisbein, Raymond G.
Jun 11, 1997 OCC Omni National Bank Formal Agreement: United National Bank
Jun 5, 1997 OCC First Union Bank International Prohibition/Removal Orders: Guarduci, John M.
Jun 4, 1997 FRB (individual) Cease and Desist Order: Michael Quinn
Jun 4, 1997 OCC_OTS First Federal Savings and Loan Association Orders of Removal/Prohibition: Connie S. Dietrich
Jun 2, 1997 OCC_OTS Local America Bank of Tulsa, A Federal Savings Bank Orders of Removal/Prohibition: Thressa D. Debrito-Dorsey
Jun 2, 1997 OCC_OTS Superior Financial Services, Inc Orders of Removal/Prohibition: Neta K. Williams
May 30, 1997 OCC_OTS First Federal Savings & Loan Association Orders of Removal/Prohibition: Bettye R. Gallien
May 30, 1997 OCC The First National Bank of Holland Formal Agreement: The First National Bank Of Holland
May 30, 1997 OCC (individual) Formal Agreement: Morgan Bank, N.A.
May 29, 1997 OCC Preston North National Bank Formal Agreement: Preston National Bank
May 29, 1997 FRB (individual) Prohibition from Banking: Donald G. Austin
May 29, 1997 OCC First National Bank of Sulphur Springs Formal Agreement: First National Bank of Sulphur Springs
May 28, 1997 FRB (individual) Written Agreement: John Widmer
May 27, 1997 OCC_OTS Sunrise Bancorp, Inc. Orders of Removal/Prohibition: Regina Traina
May 27, 1997 OCC_OTS (individual) Orders of Removal/Prohibition: Peter Rodriguez
May 27, 1997 OCC_OTS First Federal Savings and Loan Association of Rochester Orders of Removal/Prohibition: Josette Reid
May 27, 1997 OCC_OTS First Federal Savings and Loan Association of Rochester Orders of Removal/Prohibition: Joan M. Davis
May 23, 1997 FRB The Bank of Yokohama, Ltd. Civil Money Penalty $5,000: Toshihiko Araki
May 22, 1997 OCC Bank of America, N.A. Prohibition/Removal Orders: Mkhitaraian, Armenui
May 21, 1997 OCC_OTS Ninth Ward Savings and Loan Association Supervisory Agreement: Ninth Ward Savings Bank
May 20, 1997 FRB Provident Bancorp of Texas, Inc. Civil Money Penalty $1,500: T. Stuart Ducote
May 19, 1997 FRB Provident Bancorp of Texas, Inc. Civil Money Penalty $100,000 (collecively with John Averett): Michael L. Riddle
May 19, 1997 FRB Provident Bancorp of Texas, Inc. Civil Money Penalty $100,000 (collectively with Michael L. Riddle): John Averett
May 19, 1997 FRB Provident Bancorp of Texas, Inc. Civil Money Penalty $20,000: Park Jones
May 19, 1997 FRB Crestar Securities Corporation Cease and Desist Order: Robert L. McCook
May 17, 1997 OCC Wells Fargo Bank, N.A. Prohibition/Removal Orders: Ngo, Dexter
May 14, 1997 FRB (individual) Prohibition from Banking: Kang Soo Lee
May 14, 1997 FRB (individual) Cease and Desist Order: Kwai Por Au

Browse adjacent years: 1996 · 1998

Or jump to a category: Failures · Mergers · Enforcement · Assistance