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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
Aug 16, 1997 SUNWEST Bank of Farmington NM Bank of America, N.A.
Aug 16, 1997 SUNWEST Bank of Grant County NM Bank of America, N.A.
Aug 14, 1997 American National Creighton Company NE Midwest Banc Holding Co.
Aug 14, 1997 Citizens National Bancorp, Inc. WI F & M Merger Corporation
Aug 12, 1997 Old North State Bank NC NewBridge Bank
Aug 12, 1997 Clear Lake Bancorp, Inc. WI F & M Merger Corporation
Aug 12, 1997 Boswell State Bank OK First Texoma National Bank
Aug 11, 1997 The Merchants National Bank of Fort Smith AR Deposit Guaranty National Bank
Aug 11, 1997 Seven Hills Savings Association OH Cornerstone Bank
Aug 11, 1997 Mayflower Federal Savings Bank OH Cornerstone Bank
Aug 9, 1997 Regions Bank of Georgia GA Regions Bank
Aug 9, 1997 Community Bank TN Community Bank
Aug 9, 1997 Lakeview Financial Corporation MI FirstBank Corporation
Aug 9, 1997 East Chicago Teachers Credit Union IN Tech Credit Union
Aug 8, 1997 First Bank of West Hartford CT New England Bank and Trust Company
Aug 8, 1997 Norwest Colorado, Inc. MN Wells Fargo & Company
Aug 7, 1997 Sturm Investment, Inc. CO Midamerica National Bancshares, Inc.
Aug 5, 1997 Jefferson State Bank IL Parkway Bank and Trust Company
Aug 2, 1997 Indiana Federal Corporation IN Pinnacle Financial Services, Inc.
Aug 2, 1997 CB Bancorp, Inc. IN Pinnacle Financial Services, Inc.
Aug 2, 1997 First Patriot Bankshares Corporation VA Ub Holding Company, Inc.
Aug 2, 1997 The Professional Bank CO Vectra Bank
Aug 2, 1997 Patriot National Bank VA United Bank
Aug 2, 1997 Indiana Federal Bank for Savings IN Fifth Third Bank, Indiana
Aug 2, 1997 Community Bank, A FSB IN Fifth Third Bank, Indiana
Aug 1, 1997 Peoples Savings Bank & Trust CT Webster Bank, N.A.
Aug 1, 1997 First Union National Bank of South Carolina SC Wachovia Bank, N.A.
Aug 1, 1997 First American Bank, National Association ND Bremer Bank, N.A.
Aug 1, 1997 American First National Bank WA Cascade Bank
Aug 1, 1997 First Union Bank of Connecticut CT Wachovia Bank, N.A.
Aug 1, 1997 United States National Bank of Oregon OR U.S. Bank National Association
Aug 1, 1997 Pinemont Bank TX Amegy Bank National Association
Aug 1, 1997 3355 Federal Credit Union NJ Hamilton Horizons Federal Credit Union
Aug 1, 1997 Bank of Marlinton WV First Citizens Bank & Trust Company
Aug 1, 1997 First Union National Bank of Virginia VA Wachovia Bank, N.A.
Aug 1, 1997 Bank One Wisconsin Trust Company, N.A. WI Bank One Trust Company, N.A.
Aug 1, 1997 Citizens Savings Association Federal Association LA Deposit Guaranty National Bank
Aug 1, 1997 First Union National Bank of Washington, D.C. DC Wachovia Bank, N.A.
Aug 1, 1997 Katy Credit Union TX A New Direction Credit Union
Aug 1, 1997 Bridgeport Bancorp, Inc. IL Integra Bank Corporation
Aug 1, 1997 Collective Bancorp, Inc. NJ Summit Bancorp.
Aug 1, 1997 American National Financial Corporation FL First Northwest Florida Holding Company
Aug 1, 1997 First Union Corporation of Virginia VA Wachovia Corporation
Aug 1, 1997 First Union Corporation of South Carolina SC Wachovia Corporation
Aug 1, 1997 Midwest Bancshares, Inc. MO Midwest Bancorporation, Inc.
Aug 1, 1997 First Union National Bank of Maryland MD Wachovia Bank, N.A.
Aug 1, 1997 First Union National Bank of Tennessee TN Wachovia Bank, N.A.
Aug 1, 1997 U.S. Bancorp OR U.S. Bancorp
Aug 1, 1997 Northeast Bancorp, Inc. CT First Fidelity Incorporated
Jul 31, 1997 Stewart County Federal Credit Union GA Doco Credit Union

The list holds 500 of the 1,240 mergers recorded for 1997.

Enforcement Actions in 1997

Action date Agency Institution Action
Dec 31, 1997 OCC AMCORE Bank, N.A. Civil Money Penalty (CMP): Amcore Bank, N.A., Rock River Valley
Dec 31, 1997 OCC AMCORE Bank, N.A. Civil Money Penalty (CMP): Amcore Bank, N.A., Rockford
Dec 30, 1997 OCC Stearns Bank N.A. Civil Money Penalty (CMP): McNeil, Michael
Dec 30, 1997 OCC Stearns Bank N.A. Civil Money Penalty (CMP): Herges, John E.
Dec 30, 1997 FRB Zia New Mexico Bank Civil Money Penalty $5,000: G.A. Poling, Jr.
Dec 30, 1997 OCC Stearns Bank N.A. Civil Money Penalty (CMP): Skalicky, Norman C.
Dec 18, 1997 OCC The National Bank of Madisonville Formal Agreement: The National Bank of Madisonville
Dec 17, 1997 OCC Wells Fargo Bank (Colorado), National Association Prohibition/Removal Orders: Lewis, Robert W.
Dec 17, 1997 OCC Wells Fargo Bank, N.A. Civil Money Penalty (CMP): Lewis, Robert Waldo
Dec 17, 1997 OCC Wells Fargo Bank, N.A. C&D or PC&D Requiring Restitution: Lewis, Robert W.
Dec 15, 1997 OCC_OTS Oak Tree Federal Savings Bank Cease and Desist: Kiran A. Phansalkar
Dec 15, 1997 FRB Chemical New York, Inc. Cease and Desist Order: Patti Colbourn
Dec 11, 1997 OCC_OTS Snyder Savings and Loan Association Termination of Cease and Desist: J. B. Tate, Jr.
Dec 11, 1997 OCC_OTS California Federal Bank, A FSB Orders of Removal/Prohibition: Milton Alfredo Rodriguez
Dec 8, 1997 OCC Sanpaolo Imi S.P.A. Prohibition/Removal Orders: Locci, Massimiliano
Dec 8, 1997 OCC Sanpaolo Imi S.P.A. Civil Money Penalty (CMP): Locci, Massimiliano
Dec 8, 1997 OCC Sanpaolo Imi S.P.A. C&D or PC&D Requiring Restitution: Locci, Massimiliano
Dec 8, 1997 OCC_OTS Doolin Security Savings Bank, FSB Decision/Opinion and Order: Doolin Security SB, FSB
Dec 5, 1997 OCC (individual) Securities Enforcement Action: Commerce Bank, N.A.
Dec 5, 1997 OCC NBD Leasing, Inc. Prohibition/Removal Orders: Schwomeyer, Kerri F.
Dec 5, 1997 OCC Bank of America, N.A. Prohibition/Removal Orders: Blanks, Danielle S.
Dec 5, 1997 OCC Bank of America, N.A. C&D or PC&D Requiring Restitution: Blanks, Danielle Sheree
Dec 4, 1997 OCC_OTS Shore Financial Corporation Supervisory Agreement: Shore Bank
Dec 3, 1997 OCC_OTS The Cheviot Building and Loan Company Supervisory Agreement: The Cheviot Building and Loan Company
Dec 2, 1997 OCC Capital Bank, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Rozenblum, Martin
Nov 21, 1997 FRB The Bank of New York Canada Prohibition from Banking: Eric Charles Dill
Nov 19, 1997 OCC_OTS (individual) Supervisory Agreement: Lee D. Adamanatidis
Nov 17, 1997 OCC_OTS First Federal Savings Bank Termination of Cease and Desist: Edmund R. Lehman
Nov 12, 1997 FRB Putnam-Greene Financial Corporation Cease and Desist Order: Putnam-Greene Financial Corporation, Eatonton, GA
Nov 8, 1997 OCC First National Bank of Ventura Prohibition/Removal Orders: Zingg, Robert P.
Nov 8, 1997 OCC Progressive National Bank C&D or PC&D Requiring Restitution: Palumbo, Luther P.
Nov 8, 1997 OCC First National Bank of Ventura C&D or PC&D Requiring Restitution: Zingg, Robert P.
Nov 8, 1997 OCC Progressive National Bank Civil Money Penalty (CMP): Palumbo, Luther P.
Nov 8, 1997 OCC First National Bank of Ventura Civil Money Penalty (CMP): Zingg, Robert P.
Nov 8, 1997 OCC Bank of America, N.A. Prohibition/Removal Orders: McRoyal, Shonn
Nov 8, 1997 OCC Progressive National Bank Prohibition/Removal Orders: Palumbo, Luther P.
Nov 7, 1997 OCC_OTS Family Bank Orders of Removal/Prohibition: Gaile D. Amos
Nov 6, 1997 OCC_OTS First New Mexico Bank Orders of Removal/Prohibition: Melissa J. Acuna
Nov 4, 1997 FRB Banco de La Provincia De Buenos Aires Prohibition from Banking: Luis Carrizo
Nov 1, 1997 OCC Bank of America, N.A. Prohibition/Removal Orders: Grey, Y'Nischa
Nov 1, 1997 OCC Bank of America, N.A. C&D or PC&D Requiring Restitution: Grey, Y'Nischa
Oct 28, 1997 OCC_OTS (individual) Cease and Desist: Girard SB, FSB
Oct 28, 1997 OCC_OTS (individual) Cease and Desist: First Bank of Beveraly Hills, FSB
Oct 27, 1997 OCC Citizens National Bank Civil Money Penalty (CMP): Hughes, Bob G.
Oct 27, 1997 OCC Citizens National Bank Civil Money Penalty (CMP): Mize, R. Ronald
Oct 24, 1997 FRB Banco Popular de Puerto Rico Prohibition from Banking: Jose E. Romero Muniz
Oct 24, 1997 OCC_OTS St. Edmond's Federal Savings Bank Cease and Desist: George J. Piccoli, Jr.
Oct 24, 1997 OCC_OTS St. Edmond's Federal Savings Bank Civil Money Penalty: George J. Piccoli, Jr.
Oct 22, 1997 OCC_OTS United Savings Association of Texas Orders of Removal/Prohibition: Ali R. Davoudi
Oct 17, 1997 OCC Marble Falls National Bank Safety and Soundness Order (issued under 12 CFR 30): Marble Falls National Bank

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