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 | Assets |
|---|---|---|
| Nov 21, 1997 | Southwest Bank | $27.9M |
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 | Acquirer |
|---|---|---|
| Nov 1, 1997 | Capitol Bank and Trust | Banco Popular, Illinois |
| Nov 1, 1997 | F & M Bank-Potosi | F & M Bank-Fennimore |
| Nov 1, 1997 | Farmers and Merchants Bank | Marquette Bank South Dakota, National Association |
| Nov 1, 1997 | Scott County Educational Federal Credit Union | Jackson Area Federal Credit Union |
| Nov 1, 1997 | Capitol Bank of Westmont | Banco Popular, Illinois |
| Nov 1, 1997 | Bank of South Dakota | Marquette Bank South Dakota, National Association |
| Nov 1, 1997 | River Associates Bancorp., Inc. | Popular North America, Inc. |
| Nov 1, 1997 | CNB Financial Corporation | Big Lake Financial Corporation |
| Nov 1, 1997 | Chessie-Newport News Credit Union | Bayport Federal Credit Union |
| Nov 1, 1997 | First State Bank of Uniontown | First National Bank of West Point |
| Nov 1, 1997 | Jefferson Bankshares, Inc. | Wachovia Corporation |
| Oct 31, 1997 | Triangle Bank Leasing Corp. | Triangle Bancorp, Inc. |
| Oct 31, 1997 | The Bank of Winter Park | The Huntington National Bank |
| Oct 31, 1997 | U. S. Bancorp, Inc. | Manufacturers Bank |
| Oct 31, 1997 | Egyptian Bancshares, Inc. | Community Financial Corp. |
| Oct 31, 1997 | Mi-Val B.U.C. Credit Union, Inc. | Day Air Credit Union, Inc. |
| Oct 31, 1997 | First Federal Savings & Loan Association of Chilton County | SouthFirst Bank |
| Oct 31, 1997 | Hath Federal Credit Union | Valley Federal Credit Union |
| Oct 30, 1997 | Atlanta Canco Federal Credit Union | Center Parc Credit Union |
| Oct 29, 1997 | Alhambra Federal Credit Union | F & a Federal Credit Union |
| Oct 29, 1997 | St. Marys Madison Federal Credit Union | Revity Credit Union |
| Oct 28, 1997 | Houston National Bank | Sterling Bank |
| Oct 25, 1997 | Jcpenney National Bank | The First National Bank of Wyoming |
| Oct 25, 1997 | Cushnoc Bank and Trust Company | Northeast Bank |
| Oct 25, 1997 | Prime Bank of Puerto Rico | Eurobank |
| Oct 25, 1997 | Union Bank/Sandwich | Centrue Bank |
| Oct 21, 1997 | Community Bancorporation | Americanwest Bancorporation |
| Oct 20, 1997 | Enterprise National Bank of Sarasota | Provident Bank of Florida |
| Oct 20, 1997 | Premier Bank-Central, National Association | First Vantage Bank /Tri-Cities |
| Oct 20, 1997 | Premier Bank, National Association | First Virginia Bank - Clinch Valley |
| Oct 18, 1997 | Boatmen's Bank of Tennessee | NationsBank of Tennessee, National Association |
| Oct 18, 1997 | Farmers & Merchants Bank of Trenton | Capital City Bank |
| Oct 18, 1997 | (unnamed) | Mercantile Bank of Central Missouri |
| Oct 18, 1997 | Continental Bank | Reliance Federal Savings Bank |
| Oct 18, 1997 | Branford State Bank | Capital City Bank |
| Oct 18, 1997 | Southwest Financial Bank and Trust Company | Suburban Bank & Trust Company |
| Oct 18, 1997 | Levy County State Bank | Capital City Bank |
| Oct 18, 1997 | AMCORE Bank, Belleville | Amcore Bank, National Association, South Central |
| Oct 17, 1997 | People's Bank and Trust Company | Old National Bank |
| Oct 17, 1997 | Sun State Bank | Nevada State Bank |
| Oct 17, 1997 | First Winnebago Corporation | Centre 1 Bancorp, Inc. |
| Oct 17, 1997 | Bank of Boston Connecticut | Fleet National Bank |
| Oct 17, 1997 | Sun State Capital Corporation | Zions Bancorporation |
| Oct 15, 1997 | (unnamed) | Cornerstone Community Bank |
| Oct 14, 1997 | The Old Phoenix National Bank of Medina | Firstmerit Bank, National Association |
| Oct 14, 1997 | EST National Bank | Firstmerit Bank, National Association |
| Oct 11, 1997 | SC Bancorp | Western Bancorp |
| Oct 11, 1997 | Tampico National Bank | UnionBank/Central |
| Oct 11, 1997 | Norwest Bank Texas, South, National Association | Wells Fargo Bank Texas, National Association |
| Oct 11, 1997 | The First National Bank of Manlius | UnionBank/Central |
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 |
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