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 17, 1997 | Compass Bank | BBVA USA |
| Sep 16, 1997 | Dadeland Bank | Colonial Bank |
| Sep 16, 1997 | Dadeland Bancshares, Inc. | The Colonial Bancgroup, Inc. |
| Sep 15, 1997 | Jefferson Bank | Iberiabank |
| Sep 13, 1997 | The First National Bank of Eden | Great Plains Bank |
| Sep 13, 1997 | (unnamed) | MidFirst Bank |
| Sep 13, 1997 | First Clayton Bancshares, Inc | United Community Banks, Inc. |
| Sep 12, 1997 | Florida Gulfcoast Bancorp, Inc. | Fgbi Acquisition Corp. |
| Sep 10, 1997 | New York FSB | Flushing Bank |
| Sep 9, 1997 | First Western Bank, F.S.B. | First Western Bank, National Association |
| Sep 9, 1997 | Commonwealth State Bank | Main Line Bank |
| Sep 9, 1997 | Penncore Financial Services Corporation | ML Bancorp |
| Sep 8, 1997 | Firstar National Bank | Firstar Bank Iowa, National Association |
| Sep 5, 1997 | Standard Federal Bank for Savings | TCF National Bank Illinois |
| Sep 5, 1997 | Citizens State Bank in Galena | Community Bank and Trust |
| Sep 5, 1997 | Manufacturers Bank | Manufacturers Bank |
| Sep 5, 1997 | SunTrust Bank, Northeast Tennessee, National Association | SunTrust Bank, East Tennessee, National Association |
| Sep 4, 1997 | Halo Bancorporation, Inc. | Bremer Financial Corporation |
| Sep 3, 1997 | Fredonia Bancshares, Inc. | First United of Texas, Inc |
| Sep 3, 1997 | Fredonia Bancshares of Delaware, Inc. | First United of Texas, Inc |
| Sep 2, 1997 | Holy Name Parish Credit Union, Inc. | Firefighters Community Cu |
| Sep 2, 1997 | LaSalle Bank | LaSalle Bank National Association |
| Sep 2, 1997 | Lasalle Bank Illinois | LaSalle Bank National Association |
| Sep 2, 1997 | Saint Joseph Medical Center Federal Credit Union | New Century Federal Credit Union |
| Sep 2, 1997 | Highway Credit Union | Indiana Members Credit Union |
| Sep 1, 1997 | CNB Bancorp, Inc. | Cbi-Kansas, Inc. |
| Sep 1, 1997 | Michigan Bank, Federal Savings Bank | LaSalle Bank Midwest National Association |
| Sep 1, 1997 | Providence Saint Vincent Federal Credit Union | Providence Federal Credit Union |
| Sep 1, 1997 | Goodland State Bank | MainSource Bank of Illinois |
| Sep 1, 1997 | Houston TWC Federal Credit Union | Houston Highway Credit Union |
| Sep 1, 1997 | Corn Belt Credit Union | Veridian Credit Union |
| Sep 1, 1997 | Midstate Bancorp | Midstate Bancorp, Inc. |
| Sep 1, 1997 | Washington Trades Credit Union | Qualstar Credit Union |
| Sep 1, 1997 | Nacogdoches Public Employee Credit Union | Doches Credit Union |
| Sep 1, 1997 | Minnesota State University Student Association Federal Credit Union | Affinity Plus Federal Credit Union |
| Aug 31, 1997 | Boatmen's Service Company, Inc. | NB Holdings Corporation |
| Aug 31, 1997 | Collin County National Bank | Hibernia National Bank of Texas |
| Aug 31, 1997 | Savers Federal Credit Union | Ocean Communities Federal Credit Union |
| Aug 31, 1997 | First National Bank of Paris | Hibernia National Bank of Texas |
| Aug 31, 1997 | Executive Bancshares, Inc. | Hibernia Corporation |
| Aug 30, 1997 | Reliance Financial, Inc. | Allegiant Bancorp, Incorporated |
| Aug 30, 1997 | Bankers Corp. | Sovereign Bancorp, Inc. |
| Aug 30, 1997 | Saint Pauls Lafayette Federal Credit Union | Saint Jules Credit Union |
| Aug 30, 1997 | Community Bankshares, Inc. | CFX Corporation |
| Aug 30, 1997 | Portsmouth Bank Shares, Inc. | CFX Corporation |
| Aug 30, 1997 | Brecksville Vah Federal Credit Union | Century Federal Credit Union |
| Aug 30, 1997 | Bankers Savings | Santander Bank, N.A. |
| Aug 30, 1997 | Concord Savings Bank | CFX Bank |
| Aug 30, 1997 | China Trust Bank of New York | CTBC Bank Corp. (USA) |
| Aug 30, 1997 | Portsmouth Savings Bank | CFX 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
Or jump to a category: Failures · Mergers · Enforcement · Assistance