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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
Dec 2, 1997 County Financial Corporation FL Republic Security Financial Corporation
Dec 1, 1997 M G H Federal Credit Union IN Indiana Members Credit Union
Dec 1, 1997 First Bank of the Americas NY Commercial Bank of New York
Dec 1, 1997 Libertyville Bancorp, Inc. IL Wintrust Financial Corporation
Dec 1, 1997 (unnamed) — First Bank of California
Dec 1, 1997 Tobacco Root Federal Credit Union MT High Peaks Federal Credit Union
Dec 1, 1997 Eastern American Bank, Federal Savings Bank VA Resource Bank
Dec 1, 1997 Comerica Mortgage Corporation MI Comerica Bank
Dec 1, 1997 PNC Trust Company of New York NY PNC Bank, N.A.
Dec 1, 1997 Guaranty Bancshares Holding Corporation LA M C Bancshares, Inc.
Dec 1, 1997 First American Bancorp AL Alabama National Bancorporation
Dec 1, 1997 (unnamed) — Union Planters Bank of Southeast Missouri
Dec 1, 1997 First Acadian Bancshares, Inc. LA Union Planters Corporation
Dec 1, 1997 Lake Forest Bancorp, Inc. IL Wintrust Financial Corporation
Dec 1, 1997 First National Summit Bankshares, Inc. CO Community First Bankshares, Inc.
Dec 1, 1997 MD&F Employees Federal Credit Union NC Members Credit Union
Dec 1, 1997 Acadian Bank LA Union Planters Bank of Louisiana
Dec 1, 1997 Hinsdale Bancorp, Inc. IL Wintrust Financial Corporation
Dec 1, 1997 Guaranty Bank & Trust Company of Morgan City LA M C Bank & Trust Company
Dec 1, 1997 PNC National Bank of Delaware DE PNC Bank, Delaware
Dec 1, 1997 Fillmore Building & Loan Association PA Port Richmond Savings
Dec 1, 1997 PNC Mortgage Bank, N.A. PA PNC Bank, N.A.
Nov 29, 1997 Western Community Bank CO WestStar Bank
Nov 29, 1997 Signet Bank VA Wachovia Bank, N.A.
Nov 29, 1997 Signet Banking Corporation VA Wachovia Corporation
Nov 29, 1997 Daniel Employees Credit Union TX Members Choice Credit Union
Nov 25, 1997 Republic National Bancorp, Inc. AZ Community First Bankshares, Inc.
Nov 24, 1997 First Security Bank of Wyoming WY Wells Fargo Trust Company, N.A.
Nov 24, 1997 Mount Carmel M B C Credit Union OH Wright-Dunbar Area Credit Union, Inc.
Nov 24, 1997 Southlake Bancshares, Inc. TX First Financial Bankshares of Delaware, Inc.
Nov 24, 1997 Roscoe Financial Services, Inc. SD Roscoe Community Bankshares, Inc.
Nov 23, 1997 Citizens National Bank of Madison IN River Valley Financial Bank
Nov 22, 1997 Mercantile Bank, FSB IA Mercantile Bank of Eastern Iowa
Nov 22, 1997 First Bank of Deer Park TX Bayshore National Bank of La Porte
Nov 22, 1997 First Bank TX LegacyTexas Bank
Nov 22, 1997 First Southeast Financial Corporation SC The South Financial Group, Inc.
Nov 22, 1997 Naval Hospital Credit Union VA Navy Federal Credit Union
Nov 22, 1997 First Federal Savings and Loan Association of Anderson SC Carolina First Bank
Nov 22, 1997 Norwest Bank Texas, South Central TX Wells Fargo Bank Texas, National Association
Nov 22, 1997 Texas National Bank of Baytown TX Bayshore National Bank of La Porte
Nov 22, 1997 Charter State Bank AR First National Bank
Nov 22, 1997 The First National Bank of Wilcox NE Iowa - Nebraska State Bank
Nov 21, 1997 Apci Plant 4 Federal Credit Union PA Apci Federal Credit Union
Nov 21, 1997 Mercantile Bank of Naples FL First National Bank of Florida
Nov 20, 1997 Hazelton Bancshares, Inc. ND Bank of Hazelton
Nov 15, 1997 Star Financial Bank, Columbia City, Indiana IN Star Financial Bank
Nov 15, 1997 Star Financial Bank, New Castle, Indiana IN Star Financial Bank
Nov 15, 1997 First American Bank, National Association ND Bremer Bank, National Association
Nov 15, 1997 The Chase Manhattan Trust Company of California, N.A. CA J.P. Morgan Trust Company, N.A.
Nov 15, 1997 Farmers State Bank IN The Farmers State Bank of Union City

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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