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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
Aug 16, 1997 SUNWEST Bank of Farmington NM Bank of America, N.A.
Aug 16, 1997 SUNWEST Bank of Grant County NM Bank of America, N.A.
Aug 14, 1997 American National Creighton Company NE Midwest Banc Holding Co.
Aug 14, 1997 Citizens National Bancorp, Inc. WI F & M Merger Corporation
Aug 12, 1997 Old North State Bank NC NewBridge Bank
Aug 12, 1997 Clear Lake Bancorp, Inc. WI F & M Merger Corporation
Aug 12, 1997 Boswell State Bank OK First Texoma National Bank
Aug 11, 1997 The Merchants National Bank of Fort Smith AR Deposit Guaranty National Bank
Aug 11, 1997 Seven Hills Savings Association OH Cornerstone Bank
Aug 11, 1997 Mayflower Federal Savings Bank OH Cornerstone Bank
Aug 9, 1997 Regions Bank of Georgia GA Regions Bank
Aug 9, 1997 Community Bank TN Community Bank
Aug 9, 1997 Lakeview Financial Corporation MI FirstBank Corporation
Aug 9, 1997 East Chicago Teachers Credit Union IN Tech Credit Union
Aug 8, 1997 First Bank of West Hartford CT New England Bank and Trust Company
Aug 8, 1997 Norwest Colorado, Inc. MN Wells Fargo & Company
Aug 7, 1997 Sturm Investment, Inc. CO Midamerica National Bancshares, Inc.
Aug 5, 1997 Jefferson State Bank IL Parkway Bank and Trust Company
Aug 2, 1997 Indiana Federal Corporation IN Pinnacle Financial Services, Inc.
Aug 2, 1997 CB Bancorp, Inc. IN Pinnacle Financial Services, Inc.
Aug 2, 1997 First Patriot Bankshares Corporation VA Ub Holding Company, Inc.
Aug 2, 1997 The Professional Bank CO Vectra Bank
Aug 2, 1997 Patriot National Bank VA United Bank
Aug 2, 1997 Indiana Federal Bank for Savings IN Fifth Third Bank, Indiana
Aug 2, 1997 Community Bank, A FSB IN Fifth Third Bank, Indiana
Aug 1, 1997 Peoples Savings Bank & Trust CT Webster Bank, N.A.
Aug 1, 1997 First Union National Bank of South Carolina SC Wachovia Bank, N.A.
Aug 1, 1997 First American Bank, National Association ND Bremer Bank, N.A.
Aug 1, 1997 American First National Bank WA Cascade Bank
Aug 1, 1997 First Union Bank of Connecticut CT Wachovia Bank, N.A.
Aug 1, 1997 United States National Bank of Oregon OR U.S. Bank National Association
Aug 1, 1997 Pinemont Bank TX Amegy Bank National Association
Aug 1, 1997 3355 Federal Credit Union NJ Hamilton Horizons Federal Credit Union
Aug 1, 1997 Bank of Marlinton WV First Citizens Bank & Trust Company
Aug 1, 1997 First Union National Bank of Virginia VA Wachovia Bank, N.A.
Aug 1, 1997 Bank One Wisconsin Trust Company, N.A. WI Bank One Trust Company, N.A.
Aug 1, 1997 Citizens Savings Association Federal Association LA Deposit Guaranty National Bank
Aug 1, 1997 First Union National Bank of Washington, D.C. DC Wachovia Bank, N.A.
Aug 1, 1997 Katy Credit Union TX A New Direction Credit Union
Aug 1, 1997 Bridgeport Bancorp, Inc. IL Integra Bank Corporation
Aug 1, 1997 Collective Bancorp, Inc. NJ Summit Bancorp.
Aug 1, 1997 American National Financial Corporation FL First Northwest Florida Holding Company
Aug 1, 1997 First Union Corporation of Virginia VA Wachovia Corporation
Aug 1, 1997 First Union Corporation of South Carolina SC Wachovia Corporation
Aug 1, 1997 Midwest Bancshares, Inc. MO Midwest Bancorporation, Inc.
Aug 1, 1997 First Union National Bank of Maryland MD Wachovia Bank, N.A.
Aug 1, 1997 First Union National Bank of Tennessee TN Wachovia Bank, N.A.
Aug 1, 1997 U.S. Bancorp OR U.S. Bancorp
Aug 1, 1997 Northeast Bancorp, Inc. CT First Fidelity Incorporated
Jul 31, 1997 Stewart County Federal Credit Union GA Doco Credit Union

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

Enforcement Actions in 1997

Action date Agency Institution Action
May 12, 1997 OCC Citibank, N.A. C&D or PC&D Requiring Restitution: Lin, Daniel P.
May 12, 1997 OCC Citibank, N.A. Prohibition/Removal Orders: Lin, Daniel P.
May 12, 1997 OCC Bank of America, N.A. Prohibition/Removal Orders: Guerrero, Jose R.
May 12, 1997 OCC_OTS The Dime Savings Bank of New York, FSB Orders of Removal/Prohibition: Tonianne M. Milne
May 9, 1997 OCC_OTS Main Line Bancshares, Inc. Orders of Removal/Prohibition: Stephanie L. Zinni
May 9, 1997 OCC_OTS Third Company Orders of Removal/Prohibition: Kim M. Gracey
May 9, 1997 OCC_OTS Third Company Cease and Desist: Kim M. Gracey
May 9, 1997 OCC_OTS Third Company Orders of Removal/Prohibition: Paul E. Pajak
May 7, 1997 FRB (individual) Prohibition from Banking: Francisco Moncaleano
May 7, 1997 OCC_OTS Matewan Bank, FSB Orders of Removal/Prohibition: Amanda Stapleton
May 6, 1997 OCC_OTS First Federal Savings Bank of Fort Dodge Orders of Removal/Prohibition: Elizabeth Andersen
May 5, 1997 OCC_OTS (individual) Orders of Removal/Prohibition: Patricia A. Wassil
May 2, 1997 OCC Bank of America, N.A. Prohibition/Removal Orders: Munoz, Paula E.
Apr 28, 1997 OCC_OTS (individual) Cease and Desist: Tracy A. Tyner
Apr 28, 1997 OCC_OTS (individual) Orders of Removal/Prohibition: Tracy A. Tyner
Apr 27, 1997 OCC Harbor National Bank of Connecticut Civil Money Penalty (CMP): Sivilla, Matthew
Apr 21, 1997 OCC Sunflower Bank, N.A. Prohibition/Removal Orders: Munn, Amy Sue
Apr 21, 1997 OCC (individual) Prohibition/Removal Orders: Miller, Melissa
Apr 17, 1997 FRB Marin National Bancorp Written Agreement: Marin National Bancorp, San Rafael, CA
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Cease and Desist: Nutan Sahai
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Cease and Desist: Priti Goel
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Cease and Desist: Sanjay Chatrath
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Cease and Desist: Subhash Sahai
Apr 16, 1997 FRB PT. Bank Negara Indonesia (Persero) TBK Prohibition from Banking: Steven King
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Civil Money Penalty: Arun Kalra
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Civil Money Penalty: Anil Sahai
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Cease and Desist: Webster City Medical Service, P.C.
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Cease and Desist: Urmila Sahai
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Cease and Desist: Susma Sahi
Apr 16, 1997 OCC_OTS Mid-Iowa, Inc. Cease and Desist: Subhash Sahai
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Cease and Desist: Anil Sahai
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Cease and Desist: Arun Kalra
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Cease and Desist: Mary Clausen
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Cease and Desist: Neena Gupta
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Cease and Desist: Prem Nath Sahai
Apr 16, 1997 OCC_OTS (individual) Orders of Removal/Prohibition: Prem Nath Sahai
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Civil Money Penalty: Webster City Medical Service, P.C.
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Civil Money Penalty: Urmila Sahai
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Civil Money Penalty: Sushma Sahai
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Civil Money Penalty: Subhash Sahai
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Civil Money Penalty: Sanjay Chatrath
Apr 16, 1997 OCC_OTS Mid-Iowa, Inc. Civil Money Penalty: Priti Goel
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Civil Money Penalty: Prem Nath Sahai
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Civil Money Penalty: Nutan Sahai
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Civil Money Penalty: Neena Gupta
Apr 16, 1997 OCC_OTS Mid-Iowa Savings Bank, FSB Civil Money Penalty: Mary Clausen
Apr 15, 1997 OCC First Central Bank, National Association Civil Money Penalty (CMP): Chow, David
Apr 15, 1997 OCC First Central Bank, National Association C&D or PC&D Requiring Restitution: Chow, David
Apr 14, 1997 OCC First National Bank of Bellaire Prohibition/Removal Orders: Vickery, Charles R.
Apr 10, 1997 OCC_OTS Centennial Bank Holdings, Inc. Supervisory Agreement: Centennial Savings Bank, F.S.B.

Browse adjacent years: 1996 · 1998

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