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 |
|---|---|---|
| Sep 30, 1997 | Computer Systems International, Ltd. | Hawaii National Bank |
| Sep 30, 1997 | FMB-Trust | The Huntington National Bank |
| Sep 30, 1997 | First City Bancorp, Inc. | Barnett Banks, Inc. |
| Sep 30, 1997 | Pemi Bancorp, Inc. | Northway Financial, Inc. |
| Sep 30, 1997 | First Michigan Bank Corporation | Huntington Bancshares Incorporated |
| Sep 30, 1997 | FMB-Maynard Allen Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Old State Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Reed City Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-State Savings Bank | The Huntington National Bank |
| Sep 30, 1997 | Greer Homelite Employees Federal Credit Union | Empeople Credit Union |
| Sep 30, 1997 | FMB-Oceana Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Northwestern Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Sault Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-First Michigan Bank | The Huntington National Bank |
| Sep 30, 1997 | Walnut Mutual Benefit Association Credit Union | American Mutual Credit Union, Inc |
| Sep 30, 1997 | FMB-First Michigan Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Lumberman's Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Community Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Security Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Commercial Bank | The Huntington National Bank |
| Sep 30, 1997 | Reliable Financial Corporation | First Commonwealth Financial Corporation |
| Sep 30, 1997 | FMB-Arcadia Bank | The Huntington National Bank |
| Sep 29, 1997 | First McKinney Bancshares, Inc. | Plano Bancshares of Delaware, Inc. |
| Sep 27, 1997 | First Savings Bank of Rockingham County, SSB | First-Citizens Bank & Trust Company |
| Sep 27, 1997 | First Savings Financial Corp. | First Citizens Bancshares, Inc. |
| Sep 27, 1997 | Great Lakes National Bank Ohio | TCF National Bank |
| Sep 27, 1997 | (unnamed) | Financial Trust Company |
| Sep 27, 1997 | Reliable Savings Bank | First Commonwealth Bank |
| Sep 27, 1997 | First National Bank and Trust Co. | Financial Trust Company |
| Sep 26, 1997 | Lincoln Federal Savings Bank | Farmers Deposit Bank of Middleburg, Inc. |
| Sep 26, 1997 | Lincoln Financial Bancorp, Inc. | Middleburg Bancorp, Inc. |
| Sep 26, 1997 | Farmers Investment Corporation | (unnamed) |
| Sep 26, 1997 | Regions Bank of Florida | Regions Bank |
| Sep 25, 1997 | (unnamed) | Community Financial Services, Inc. |
| Sep 22, 1997 | Premier Bank-South, National Association | First Virginia Bank-Southwest |
| Sep 22, 1997 | United Carolina Bank | Truist Bank |
| Sep 22, 1997 | United Carolina Bank of South Carolina | Branch Banking and Trust Company of South Carolina |
| Sep 22, 1997 | Vermont Federal Bank, FSB | Vermont National Bank |
| Sep 20, 1997 | The Peoples National Bank | Gold BANK |
| Sep 20, 1997 | Haverfield Corporation | Charter One Financial, Inc. |
| Sep 20, 1997 | Bank Wisconsin | St. Francis Bank, F.S.B. |
| Sep 20, 1997 | Boatmen's Trust Company of Texas | NationsBank of Texas, National Association |
| Sep 20, 1997 | Boatmen's Trust Company of Kansas | Bank of America, N.A. |
| Sep 20, 1997 | Matewan National Bank/Kentucky | The Matewan National Bank |
| Sep 20, 1997 | First Federal Savings and Loan Association of Osceola County | Republic Bank |
| Sep 20, 1997 | Home Bank, F.S.B. | Charter One Bank, National Association |
| Sep 20, 1997 | Citizens State Bank | State Bank |
| Sep 20, 1997 | Perry County Bank | Trustmark Bank |
| Sep 19, 1997 | Barnett Bank of Southwest Georgia | SouthTrust Bank |
| Sep 19, 1997 | First Federal Savings Bank of New Smyrna | Regions Bank of Florida |
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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