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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
Feb 13, 1997 FRB The Asahi Bank, Ltd. Cease and Desist Order: The Asahi Bank, Ltd., Tokyo, Japan and The Asahi Bank, …
Feb 7, 1997 OCC Bank of America, N.A. Prohibition/Removal Orders: Oscar, Ammie
Feb 7, 1997 OCC Bank of America, N.A. C&D or PC&D Requiring Restitution: Oscar, Ammie
Feb 5, 1997 FRB Omnibanc Corporation Written Agreement: OmniBanc Corporation, Detroit, MI
Feb 4, 1997 OCC_OTS (individual) Orders of Removal/Prohibition: Richard L. Glachman
Feb 4, 1997 OCC_OTS (individual) Cease and Desist: Joseph Lewis
Feb 4, 1997 OCC_OTS (individual) Cease and Desist: Lawrence J. Winslow
Feb 4, 1997 OCC_OTS First Nationwide Financial Corporation Cease and Desist: Rita Rajaram
Feb 4, 1997 OCC_OTS (individual) Civil Money Penalty: Lawrence J. Winslow
Feb 4, 1997 OCC_OTS (individual) Orders of Removal/Prohibition: Donald Glachman
Feb 4, 1997 OCC_OTS TCF National Bank Illinois Orders of Removal/Prohibition: Joseph Lewis
Feb 4, 1997 OCC_OTS First Nationwide Financial Corporation Orders of Removal/Prohibition: Rita Rajaram
Feb 3, 1997 OCC_OTS (individual) Cease and Desist: Daniel K. Dowling
Jan 31, 1997 FRB Bank of Credit and Commerce International S.A. Prohibition from Banking: Ghaith R. Pharaon
Jan 31, 1997 FRB Bank of Credit and Commerce International S.A. Civil Money Penalty $37,000,000: Ghaith R. Pharaon
Jan 31, 1997 OCC (individual) C&D or PC&D Requiring Restitution: First Central Bank, N.A.
Jan 31, 1997 OCC (individual) Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First Central Bank, N.A.
Jan 23, 1997 OCC High Desert National Bank Prohibition/Removal Orders: Murphy, Bernard H.
Jan 23, 1997 OCC High Desert National Bank Civil Money Penalty (CMP): Murphy, Bernard H.
Jan 22, 1997 FRB Cuyamaca Bank Written Agreement: Cuyamaca Bank, Santee, CA
Jan 21, 1997 FRB Omnibank Written Agreement: OmniBank, River Rouge, MI
Jan 15, 1997 OCC Wells Fargo Bank, N.A. Prohibition/Removal Orders: Miranda, Eduardo
Jan 14, 1997 FRB First American Bankshares, Inc. Notice of Intent: Clark M. Clifford
Jan 14, 1997 FRB Credit Bank Notice of Intent: Robert A. Altman
Jan 13, 1997 FRB Pan American Bank of Miami Written Agreement: The Pan American Bank, Miami, FL
Jan 13, 1997 FRB (individual) Modifications: Steve N. Buerge
Jan 9, 1997 OCC (individual) Civil Money Penalty (CMP): Chuang, Thomas
Jan 9, 1997 OCC_OTS Eureka Homestead Cease and Desist: Karen Johnson
Jan 9, 1997 OCC_OTS Eureka Homestead Orders of Removal/Prohibition: Karen Johnson
Jan 9, 1997 OCC First Central Bank, National Association Civil Money Penalty (CMP): Lee, Henry
Jan 9, 1997 OCC (individual) Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Lee, Henry
Jan 3, 1997 FRB Bankers Company of New York Civil Money Penalty $25,000: Mark Yale
Jan 3, 1997 FRB Bankers Company of New York Cease and Desist Order: Mark Yale
Jan 2, 1997 FRB Nippon Credit Trust Company Cease and Desist Order: Brian Gager
Jan 2, 1997 FRB Ibj Schroder International Bank Civil Money Penalty $15,000: Roberto A.F. Roberts
Jan 2, 1997 FRB Ibj Schroder International Bank Cease and Desist Order: Roberto A.F. Roberts

Browse adjacent years: 1996 · 1998

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