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