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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
Oct 11, 1997 Laurel Bank PA Promistar Bank
Oct 11, 1997 Norwest Bank Texas, North Central TX Wells Fargo Bank Texas, National Association
Oct 11, 1997 Fayette Bank PA Promistar Bank
Oct 6, 1997 First State Bank OK Stride Bank, N.A.
Oct 4, 1997 RCSB Financial, Inc. NY Charter-Michigan Bancorp, Inc.
Oct 4, 1997 The Rochester Community Savings Bank NY Charter One Bank, National Association
Oct 4, 1997 Mercantile Bank IL Mercantile Bank of Eastern Iowa
Oct 4, 1997 Wilbur Savings Bank PA Ambassador Bank of the Commonwealth
Oct 4, 1997 Mercantile Bank of Dubuque, National Association IA Mercantile Bank of Eastern Iowa
Oct 2, 1997 Unity Savings Bank OH Oak Hill Banks
Oct 2, 1997 Linden Power Federal Credit Union NJ P S Burlington Employees Federal Credit Union
Oct 2, 1997 Sparbank, Incorporated IL First Midwest Bancorp, Inc.
Oct 2, 1997 United Bank KS Prairie Bank of Kansas
Oct 2, 1997 Prime Bank PA Prime Bank
Oct 2, 1997 R R B Federal Credit Union IL Great Lakes Credit Union
Oct 2, 1997 First Independence Bank of Florida FL Colonial Bank
Oct 1, 1997 SBT Bancshares, Inc. TN Union Planters Community Bancorp, Inc.
Oct 1, 1997 Southwest Financial Group of Iowa, Inc. IA Houghton State Bank
Oct 1, 1997 Farmers Bancshares of Oberlin, Inc. KS Gold Banc Acquisition Corp, Inc. II
Oct 1, 1997 Citizens of Hardeman County Financial Services TN Union Planters Community Bancorp, Inc.
Oct 1, 1997 Beckley Federal Savings Bank WV Bank of Raleigh
Oct 1, 1997 Security Capital Corporation WI M&I LLC
Oct 1, 1997 Pacesetter Bank of Montpelier IN Pacesetter Bank
Oct 1, 1997 Emerson State Bank IA Houghton State Bank
Oct 1, 1997 0IGHWAY Clippers Federal Credit Union MN West Financial Credit Union
Oct 1, 1997 Parky Maryland Federal Credit Union MD Freedom of Maryland Federal Credit Union
Oct 1, 1997 Texas Heritage Federal Credit Union TX Alliance Credit Union
Oct 1, 1997 Tri-City Federal Credit Union WA Hapo Community Credit Union
Oct 1, 1997 Delta Federal Savings, F.S.B. CO First Federal Bank of Colorado
Oct 1, 1997 The Whiteville Bank TN Union Planters Bank of Southwest Tennessee
Oct 1, 1997 Hawaiian Trust Company, Limited HI Bank of Hawaii
Oct 1, 1997 Wolfe Baron State Credit Union PA Delco Postal Cu
Oct 1, 1997 Guam Federal Credit Union NJ Delaware First Federal Credit Union
Oct 1, 1997 Security Bank, S.S.B. WI M&I Marshall and Ilsley Bank
Oct 1, 1997 NBD Bank, National Association IL Bank One, National Association
Oct 1, 1997 Great Western Bank, a Federal Savings Bank CA Washington Mutual Bank
Oct 1, 1997 Stockmens Bank, National Association SD Stockmens National Bank
Oct 1, 1997 Thrift Drug Federal Credit Union PA Ecu Credit Union
Oct 1, 1997 South Weymouth Savings Bank MA South Shore Bank
Oct 1, 1997 Puget Sound Energy Federal Credit Union WA Puget Sound Cooperative Credit Union
Oct 1, 1997 Citizens State Bank of Santa Paula CA Santa Barbara Bank & Trust, National Association
Oct 1, 1997 Western Division P.S.P.& L. Employees Credit Union WA Puget Sound Cooperative Credit Union
Oct 1, 1997 Robbins Tire and Rubber Credit Union AL Valley Credit Union
Oct 1, 1997 The Greater New York Savings Bank NY Astoria Bank
Oct 1, 1997 City Savings Bank IN Pacesetter Bank
Oct 1, 1997 Atlantic Bank, N.A. ME TD Bank, N.A.
Oct 1, 1997 Stocktel Federal Credit Union CA Central State Credit Union
Oct 1, 1997 Ringling State Bank OK First National Bank and Trust Company of Ardmore
Oct 1, 1997 First Bank & Trust of Clarendon TX Herring Bank
Sep 30, 1997 FMB Title Services, Inc. MI The Huntington National Bank

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

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