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 |
|---|---|---|
| Sep 30, 1997 | Computer Systems International, Ltd. | Hawaii National Bank |
| Sep 30, 1997 | FMB-Trust | The Huntington National Bank |
| Sep 30, 1997 | First City Bancorp, Inc. | Barnett Banks, Inc. |
| Sep 30, 1997 | Pemi Bancorp, Inc. | Northway Financial, Inc. |
| Sep 30, 1997 | First Michigan Bank Corporation | Huntington Bancshares Incorporated |
| Sep 30, 1997 | FMB-Maynard Allen Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Old State Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Reed City Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-State Savings Bank | The Huntington National Bank |
| Sep 30, 1997 | Greer Homelite Employees Federal Credit Union | Empeople Credit Union |
| Sep 30, 1997 | FMB-Oceana Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Northwestern Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Sault Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-First Michigan Bank | The Huntington National Bank |
| Sep 30, 1997 | Walnut Mutual Benefit Association Credit Union | American Mutual Credit Union, Inc |
| Sep 30, 1997 | FMB-First Michigan Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Lumberman's Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Community Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Security Bank | The Huntington National Bank |
| Sep 30, 1997 | FMB-Commercial Bank | The Huntington National Bank |
| Sep 30, 1997 | Reliable Financial Corporation | First Commonwealth Financial Corporation |
| Sep 30, 1997 | FMB-Arcadia Bank | The Huntington National Bank |
| Sep 29, 1997 | First McKinney Bancshares, Inc. | Plano Bancshares of Delaware, Inc. |
| Sep 27, 1997 | First Savings Bank of Rockingham County, SSB | First-Citizens Bank & Trust Company |
| Sep 27, 1997 | First Savings Financial Corp. | First Citizens Bancshares, Inc. |
| Sep 27, 1997 | Great Lakes National Bank Ohio | TCF National Bank |
| Sep 27, 1997 | (unnamed) | Financial Trust Company |
| Sep 27, 1997 | Reliable Savings Bank | First Commonwealth Bank |
| Sep 27, 1997 | First National Bank and Trust Co. | Financial Trust Company |
| Sep 26, 1997 | Lincoln Federal Savings Bank | Farmers Deposit Bank of Middleburg, Inc. |
| Sep 26, 1997 | Lincoln Financial Bancorp, Inc. | Middleburg Bancorp, Inc. |
| Sep 26, 1997 | Farmers Investment Corporation | (unnamed) |
| Sep 26, 1997 | Regions Bank of Florida | Regions Bank |
| Sep 25, 1997 | (unnamed) | Community Financial Services, Inc. |
| Sep 22, 1997 | Premier Bank-South, National Association | First Virginia Bank-Southwest |
| Sep 22, 1997 | United Carolina Bank | Truist Bank |
| Sep 22, 1997 | United Carolina Bank of South Carolina | Branch Banking and Trust Company of South Carolina |
| Sep 22, 1997 | Vermont Federal Bank, FSB | Vermont National Bank |
| Sep 20, 1997 | The Peoples National Bank | Gold BANK |
| Sep 20, 1997 | Haverfield Corporation | Charter One Financial, Inc. |
| Sep 20, 1997 | Bank Wisconsin | St. Francis Bank, F.S.B. |
| Sep 20, 1997 | Boatmen's Trust Company of Texas | NationsBank of Texas, National Association |
| Sep 20, 1997 | Boatmen's Trust Company of Kansas | Bank of America, N.A. |
| Sep 20, 1997 | Matewan National Bank/Kentucky | The Matewan National Bank |
| Sep 20, 1997 | First Federal Savings and Loan Association of Osceola County | Republic Bank |
| Sep 20, 1997 | Home Bank, F.S.B. | Charter One Bank, National Association |
| Sep 20, 1997 | Citizens State Bank | State Bank |
| Sep 20, 1997 | Perry County Bank | Trustmark Bank |
| Sep 19, 1997 | Barnett Bank of Southwest Georgia | SouthTrust Bank |
| Sep 19, 1997 | First Federal Savings Bank of New Smyrna | Regions Bank of Florida |
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 |
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