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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
Nov 15, 1997 Heartland Savings Bank IL First Mid Bank & Trust, N.A.
Nov 15, 1997 Chase Trust Company of California CA J.P. Morgan Trust Company, N.A.
Nov 15, 1997 GB Bancorporation CA Zions Bancorporation
Nov 15, 1997 Star Financial Bank, Marion IN Star Financial Bank
Nov 14, 1997 First Commercial Bank, SSB OK Citizens Bank
Nov 14, 1997 American National Savings Bank, Federal Savings Bank MD Crestar Bank
Nov 14, 1997 Glenwood Bancshares, Inc. WI Hiawatha Bancshares, Inc.
Nov 14, 1997 Fleet Bank NY Fleet National Bank
Nov 14, 1997 Roosevelt Bank MO Firstar Bank Missouri, National Association
Nov 13, 1997 Texas Bank TX Bayshore National Bank of La Porte
Nov 13, 1997 S&S Machinery Credit Union VA Beacon Credit Union Incorporated
Nov 11, 1997 Homestead Bank, S.S.B. TX Planters & Merchants State Bank
Nov 11, 1997 1st United Bancorp FL Wachovia Corporation
Nov 10, 1997 Southern Security Bank Corporation FL Sun American Bancorp
Nov 8, 1997 Unicorp Bancshares-Texas, Inc. TX Hibernia Corporation
Nov 8, 1997 Farmers State Bank of Ferris IL Union Bank/West
Nov 8, 1997 Investors Savings Bank of South Carolina, Incorporated SC Peoples Federal Savings and Loan Association
Nov 8, 1997 OrangeBank TX Hibernia National Bank of Texas
Nov 7, 1997 First State Bank and Trust Company LA Peoples Bank & Trust Company
Nov 7, 1997 Regions Bank, National Association FL Regions Bank
Nov 7, 1997 Planters Bank and Trust Company of Claiborne Parish LA Peoples Bank & Trust Company
Nov 7, 1997 Investors Bancorporation, Inc. WI Citizens Bancshares of Woodville, Inc.
Nov 6, 1997 University Bank TX International Bank of Commerce
Nov 6, 1997 University Bancshares, Inc. TX International Bancshares Corporation
Nov 6, 1997 San Gabriel Valley Bank CA Pacific Business Bank
Nov 1, 1997 Citizens Bancorp of Delaware, Inc. DE Delaware Financial, Inc.
Nov 1, 1997 CNB Bancshares of Victoria, Inc. TX Delaware Financial, Inc.
Nov 1, 1997 Magna Bancorp, Inc. MS Union Planters Corporation
Nov 1, 1997 Bancunion Corp. WI F & M Merger Corporation
Nov 1, 1997 CBC Bancorp, Ltd. IL Popular North America, Inc.
Nov 1, 1997 Pioneer Bancorp, Inc. IL Popular North America, Inc.
Nov 1, 1997 First Charter Bancshares, Inc. AR First Commercial Corporation
Nov 1, 1997 Pacific National Bank of Nantucket MA Fleet National Bank
Nov 1, 1997 F & M Bank-Lancaster WI F & M Bank-Fennimore
Nov 1, 1997 Magnolia Federal Bank for Savings MS Union Planters Bank of Southern Mississippi
Nov 1, 1997 First New London Savings and Loan Association Incorporated CT Liberty Bank
Nov 1, 1997 Tri-County State Bank SD Marquette Bank South Dakota, National Association
Nov 1, 1997 (unnamed) — Banco Popular, Illinois
Nov 1, 1997 One Valley Bank, FSB WV One Valley Bank, National Association
Nov 1, 1997 Dakota State Bank SD Marquette Bank South Dakota, National Association
Nov 1, 1997 National City Bank, Northwest OH National City Bank
Nov 1, 1997 Primary Bank NH Granite Bank
Nov 1, 1997 National City Bank of Ashland OH National City Bank
Nov 1, 1997 Greater York Municipal Employees Federal Credit Union PA White Rose Credit Union
Nov 1, 1997 First Bank IL First Bank
Nov 1, 1997 National City Bank, Northeast OH National City Bank
Nov 1, 1997 First Bank, A Federal Savings Bank MO First Bank
Nov 1, 1997 Morehouse School Employees Federal Credit Union LA Shreveport Federal Credit Union
Nov 1, 1997 Associated Credit Union GA Associated Credit Union
Nov 1, 1997 Van Wert National Bank OH 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
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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