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