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 15, 1997 | Heartland Savings Bank | First Mid Bank & Trust, N.A. |
| Nov 15, 1997 | Chase Trust Company of California | J.P. Morgan Trust Company, N.A. |
| Nov 15, 1997 | GB Bancorporation | Zions Bancorporation |
| Nov 15, 1997 | Star Financial Bank, Marion | Star Financial Bank |
| Nov 14, 1997 | First Commercial Bank, SSB | Citizens Bank |
| Nov 14, 1997 | American National Savings Bank, Federal Savings Bank | Crestar Bank |
| Nov 14, 1997 | Glenwood Bancshares, Inc. | Hiawatha Bancshares, Inc. |
| Nov 14, 1997 | Fleet Bank | Fleet National Bank |
| Nov 14, 1997 | Roosevelt Bank | Firstar Bank Missouri, National Association |
| Nov 13, 1997 | Texas Bank | Bayshore National Bank of La Porte |
| Nov 13, 1997 | S&S Machinery Credit Union | Beacon Credit Union Incorporated |
| Nov 11, 1997 | Homestead Bank, S.S.B. | Planters & Merchants State Bank |
| Nov 11, 1997 | 1st United Bancorp | Wachovia Corporation |
| Nov 10, 1997 | Southern Security Bank Corporation | Sun American Bancorp |
| Nov 8, 1997 | Unicorp Bancshares-Texas, Inc. | Hibernia Corporation |
| Nov 8, 1997 | Farmers State Bank of Ferris | Union Bank/West |
| Nov 8, 1997 | Investors Savings Bank of South Carolina, Incorporated | Peoples Federal Savings and Loan Association |
| Nov 8, 1997 | OrangeBank | Hibernia National Bank of Texas |
| Nov 7, 1997 | First State Bank and Trust Company | Peoples Bank & Trust Company |
| Nov 7, 1997 | Regions Bank, National Association | Regions Bank |
| Nov 7, 1997 | Planters Bank and Trust Company of Claiborne Parish | Peoples Bank & Trust Company |
| Nov 7, 1997 | Investors Bancorporation, Inc. | Citizens Bancshares of Woodville, Inc. |
| Nov 6, 1997 | University Bank | International Bank of Commerce |
| Nov 6, 1997 | University Bancshares, Inc. | International Bancshares Corporation |
| Nov 6, 1997 | San Gabriel Valley Bank | Pacific Business Bank |
| Nov 1, 1997 | Citizens Bancorp of Delaware, Inc. | Delaware Financial, Inc. |
| Nov 1, 1997 | CNB Bancshares of Victoria, Inc. | Delaware Financial, Inc. |
| Nov 1, 1997 | Magna Bancorp, Inc. | Union Planters Corporation |
| Nov 1, 1997 | Bancunion Corp. | F & M Merger Corporation |
| Nov 1, 1997 | CBC Bancorp, Ltd. | Popular North America, Inc. |
| Nov 1, 1997 | Pioneer Bancorp, Inc. | Popular North America, Inc. |
| Nov 1, 1997 | First Charter Bancshares, Inc. | First Commercial Corporation |
| Nov 1, 1997 | Pacific National Bank of Nantucket | Fleet National Bank |
| Nov 1, 1997 | F & M Bank-Lancaster | F & M Bank-Fennimore |
| Nov 1, 1997 | Magnolia Federal Bank for Savings | Union Planters Bank of Southern Mississippi |
| Nov 1, 1997 | First New London Savings and Loan Association Incorporated | Liberty Bank |
| Nov 1, 1997 | Tri-County State Bank | Marquette Bank South Dakota, National Association |
| Nov 1, 1997 | (unnamed) | Banco Popular, Illinois |
| Nov 1, 1997 | One Valley Bank, FSB | One Valley Bank, National Association |
| Nov 1, 1997 | Dakota State Bank | Marquette Bank South Dakota, National Association |
| Nov 1, 1997 | National City Bank, Northwest | National City Bank |
| Nov 1, 1997 | Primary Bank | Granite Bank |
| Nov 1, 1997 | National City Bank of Ashland | National City Bank |
| Nov 1, 1997 | Greater York Municipal Employees Federal Credit Union | White Rose Credit Union |
| Nov 1, 1997 | First Bank | First Bank |
| Nov 1, 1997 | National City Bank, Northeast | National City Bank |
| Nov 1, 1997 | First Bank, A Federal Savings Bank | First Bank |
| Nov 1, 1997 | Morehouse School Employees Federal Credit Union | Shreveport Federal Credit Union |
| Nov 1, 1997 | Associated Credit Union | Associated Credit Union |
| Nov 1, 1997 | Van Wert National Bank | Community First Bank & Trust |
The list holds 500 of the 1,240 mergers recorded for 1997.
Enforcement Actions in 1997
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Apr 4, 1997 | OCC_OTS | (individual) | Cease and Desist: James F. Gibson |
| Apr 4, 1997 | OCC_OTS | First Federal Savings Bank | Civil Money Penalty: James F. Gibson |
| Apr 4, 1997 | OCC_OTS | (individual) | Orders of Removal/Prohibition: James F. Gibson |
| Apr 3, 1997 | OCC | The Peoples National Bank of Checotah | Prohibition/Removal Orders: Townsend, Georgeanna |
| Apr 3, 1997 | OCC | (individual) | Civil Money Penalty (CMP): Nix, Jimmy E. |
| Apr 3, 1997 | OCC | (individual) | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Taylor, Scott |
| Apr 3, 1997 | OCC | First Central Bank, National Association | C&D or PC&D Requiring Restitution: First Central Bank, National Association |
| Mar 31, 1997 | OCC_OTS | Commercial Pacific Savings and Loan Association | Orders of Removal/Prohibition: Kirby Keith Gordon |
| Mar 31, 1997 | OCC | First National Bank of Bellaire | Civil Money Penalty (CMP): Vickery, Charles R. |
| Mar 31, 1997 | OCC_OTS | (individual) | Cease and Desist: Kirby Keith Gordon |
| Mar 31, 1997 | OCC_OTS | Doolin Security Savings Bank, FSB | Decision/Opinion and Order: Doolin Security SB, FSB |
| Mar 28, 1997 | FRB | Bankers Company of New York | Cease and Desist Order: Mark E. Schindler |
| Mar 28, 1997 | FRB | Bankers Company of New York | Civil Money Penalty $25,000: Mark E. Schindler |
| Mar 28, 1997 | FRB | Bankers Company of New York | Civil Money Penalty $9,000: Grace Koo |
| Mar 28, 1997 | OCC_OTS | Hancock Savings Bank | Cease and Desist: Hancock SB, FSB |
| Mar 28, 1997 | OCC_OTS | Topa Savings Bank | Cease and Desist: Michael E. Taylor |
| Mar 28, 1997 | FRB | Bankers Company of New York | Cease and Desist Order: Grace Koo |
| Mar 27, 1997 | FRB | (individual) | Civil Money Penalty $22,320,000: The International Commercial Bank of China, Taipei, Taiwan |
| Mar 27, 1997 | FRB | (individual) | Cease and Desist Order: The International Commercial Bank of China, Taipei, Taiwan |
| Mar 24, 1997 | OCC_OTS | California Federal Bank, A FSB | Orders of Removal/Prohibition: Eller Hernandez |
| Mar 20, 1997 | OCC | (individual) | Prohibition/Removal Orders: Tsai, David |
| Mar 20, 1997 | OCC | (individual) | C&D or PC&D Requiring Restitution: First Central Bank, N.A. |
| Mar 20, 1997 | OCC | Wells Fargo Bank, N.A. | Prohibition/Removal Orders: Tran, Lisa |
| Mar 20, 1997 | FRB | (individual) | Prohibition from Banking: Juan Echeverri |
| Mar 20, 1997 | OCC_OTS | California Federal Bank, A FSB | Orders of Removal/Prohibition: Lenard Canta |
| Mar 20, 1997 | OCC | (individual) | Civil Money Penalty (CMP): Tsai, David |
| Mar 20, 1997 | OCC | (individual) | C&D or PC&D Requiring Restitution: Tsai, David |
| Mar 17, 1997 | OCC | (individual) | Prohibition/Removal Orders: Rowe, Samuel J. |
| Mar 17, 1997 | OCC_OTS | California Federal Bank, A FSB | Orders of Removal/Prohibition: Julie Bryant |
| Mar 14, 1997 | OCC_OTS | Eureka Homestead | Orders of Removal/Prohibition: Paul D. Clayton |
| Mar 12, 1997 | OCC_OTS | South Bend Federal Savings and Loan Association | Orders of Removal/Prohibition: Dennis D. Konstanty |
| Mar 7, 1997 | FRB | The Bank of Corning Company | Civil Money Penalty $2,000: John W. Gillogly |
| Mar 7, 1997 | FRB | The Bank of Corning Company | Cease and Desist Order: John W. Gillogly |
| Mar 6, 1997 | FRB | Pan American Bank of Miami | Written Agreement: Luis A. Ortega |
| Mar 6, 1997 | OCC_OTS | Bell Federal Savings and Loan Association | Orders of Removal/Prohibition: Veotia R. DaSilva |
| Mar 6, 1997 | FRB | Bankers Company of New York | Cease and Desist Order: Oliver Lu |
| Mar 6, 1997 | FRB | Bankers Company of New York | Civil Money Penalty $50,000: Oliver Lu |
| Mar 6, 1997 | FRB | (individual) | Written Agreement: Interbank Holding Company, Miami, FL |
| Mar 6, 1997 | FRB | Pan American Bank of Miami | Written Agreement: Glenn M. Goldhagen |
| Mar 5, 1997 | OCC | Peoples National Bank of Commerce | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Peoples National Bank of Commerce |
| Mar 2, 1997 | OCC | Bank of America, N.A. | Prohibition/Removal Orders: Lara, Deanna |
| Feb 26, 1997 | FRB | (individual) | Prohibition from Banking: Damian Cope |
| Feb 25, 1997 | OCC | Webster Trust Company, N.A. | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Sachem Trust National Association |
| Feb 24, 1997 | OCC_OTS | Bankers Federal Savings FSB | Supervisory Agreement: Bankers Federal Savings, FSB |
| Feb 21, 1997 | OCC | Bank of America, N.A. | Prohibition/Removal Orders: Barnes, Delia |
| Feb 20, 1997 | OCC_OTS | Wayne Bancorp, Inc. | Orders of Removal/Prohibition: Grace M. McKeal |
| Feb 19, 1997 | OCC_OTS | Century Financial Group Inc | Civil Money Penalty: Barry W. Florescue |
| Feb 19, 1997 | OCC_OTS | Century Financial Group Inc | Cease and Desist: Barry W. Florescue |
| Feb 18, 1997 | OCC_OTS | Union Federal Bank, a Federal Savings Bank | Cease and Desist: Edward J. Faneuil |
| Feb 13, 1997 | FRB | The Asahi Bank, Ltd. | Civil Money Penalty $5,000,000: The Asahi Bank, Ltd., Tokyo, Japan and The Asahi Bank, … |
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