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Calendar Year

1998 in US Banking

1,476 bank events are on record for 1998: 3 failures, 1,286 mergers or acquisitions involving a bank, credit union or bank holding company, and 187 enforcement actions.

3
Failures
$290.2M in failed assets
1,286
Mergers
Federal Reserve NIC, banking organizations
187
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings

Jump to: Bank failures 1998 · Bank mergers 1998

How many banks failed in 1998?

3 banks failed in 1998, with $290.2M in assets. Each failure below links to its own page.

Date Bank HQ Assets Acquirer or resolution
Aug 7, 1998 Q Bank Fort Benton, MT $15.0M Heritage State Bank
Jul 23, 1998 Bestbank Boulder, CO $233.2M The Pueblo Bank and Trust C
Apr 9, 1998 Omnibank River Rouge, MI $42.0M Shorebank, Detroit

Which banks merged in 1998?

1,286 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1998.

See the fuller list: Bank mergers 1998 with largest deals and credit union mergers ›

Date Acquired St Acquirer
Dec 31, 1998 Sedalia Computer Services, Inc. MO The Union Savings Bank
Dec 31, 1998 Southwest National Corporation PA First Commonwealth Financial Corporation
Dec 31, 1998 The Trust Company MO Gold Trust Company
Dec 31, 1998 Conrad Bancorporation IA Central Iowa Bancorporation, Inc.
Dec 31, 1998 Bank of Vancouver WA West Coast Bank
Dec 31, 1998 Evergreen Bancorp, Inc. NY Banknorth Group, Inc.
Dec 31, 1998 Langdon Bank Holding Company ND Walhalla Bank Holding Company
Dec 31, 1998 Paola - Citizens Bancshares, Inc. KS Citizens State Bank
Dec 31, 1998 Citizens Bank of Southern Indiana IN Fifth Third Bank, Indiana
Dec 31, 1998 Citizen's Trust Company of Indiana, N.A. IN Fifth Third Bank, Indiana
Dec 31, 1998 The Brown Bank GA FLAG Bank
Dec 31, 1998 Exchange Bancshares, Inc. OK Skiatook Bancshares, Inc.
Dec 31, 1998 Centennial Bank WA West Coast Bank
Dec 31, 1998 Cornerstone Northwest Mortgage, Inc. WA Pacific Northwest Bank
Dec 31, 1998 Horizon Bancorp, Inc. WV City Holding Company
Dec 31, 1998 Pacific Capital Bancorp CA Pacific Capital Bancorp
Dec 31, 1998 Citizens Bank of Kentucky KY Fifth Third Bank, Indiana
Dec 31, 1998 The Citizens National Bank of Evansville IN Fifth Third Bank, Indiana
Dec 31, 1998 North American Trust Company CA City National Bank
Dec 31, 1998 Lanco Credit Union AL Azalea City Credit Union
Dec 31, 1998 Saint James Bancorporation, Inc. LA Regions Financial Corporation
Dec 31, 1998 Southeast Bancorp, Inc. KY Union Planters Holding Corporation
Dec 31, 1998 Laplace Bancshares, Inc. LA Union Planters Holding Corporation
Dec 31, 1998 Industrial Bank CA Washington Mutual Bank
Dec 31, 1998 Citizens Bank of Central Indiana IN Fifth Third Bank, Indiana
Dec 31, 1998 Community Trust Bank of West Virginia, National Association WV Community Trust Bank, Inc.
Dec 31, 1998 Community Bank of Naples, N.A. FL First Gulf Bank, N.A.
Dec 31, 1998 The Commercial Bank OR West Coast Bank
Dec 31, 1998 Citizens Bank of Illinois, National Association IL Fifth Third Bank, Indiana
Dec 31, 1998 FSB, Inc. TN Union Planters Holding Corporation
Dec 31, 1998 Citizens Bank of Western Indiana IN Fifth Third Bank, Indiana
Dec 31, 1998 PNB Financial Group CA Western Bancorp
Dec 31, 1998 Allegiant Mortgage Company MO Allegiant Bank
Dec 31, 1998 Providence Federal Credit Union OH Faith Community United Credit Union Inc.
Dec 30, 1998 First Community Bank-FCB MO First Community Bank
Dec 30, 1998 Plainview National Bank NE Midwest Bank
Dec 30, 1998 The American National Bank of Creighton NE Midwest Bank
Dec 30, 1998 Garwin Bancorporation IA Lincoln Bancorp
Dec 30, 1998 Greene Bancorporation IA Lincoln Bancorp
Dec 30, 1998 The Nebraska Security Bank NE Midwest Bank
Dec 30, 1998 The Farmers National Bank in Pilger NE Midwest Bank
Dec 29, 1998 Northern Illinois Bancorp, Inc. IL First American Bank Corporation
Dec 29, 1998 First Security Bank of Belgrade MT First Security Bank
Dec 29, 1998 Banc One Indiana Corporation IN Bank One Corporation
Dec 29, 1998 Employees of Imperial Federal Credit Union NY GP Community Federal Credit Union
Dec 28, 1998 The Century National Bank and Trust Company PA Sky Bank
Dec 24, 1998 Monarch Bank, FSB NJ Provident Bank
Dec 24, 1998 Belmont Associates, Inc. MA Provident Bank
Dec 22, 1998 American Coil Spring Employees Federal Credit Union MI Service 1 Federal Credit Union
Dec 22, 1998 Paola-Citizens Investment Company, Inc. KS Citizens State Bank

The list holds 500 of the 1,286 mergers recorded for 1998.

Enforcement Actions in 1998

Action date Agency Institution Action
Oct 14, 1998 OCC_OTS Blue River Federal Savings Bank Supervisory Agreement: Blue River Federal Savings Bank
Oct 14, 1998 OCC_OTS (individual) Orders of Removal/Prohibition: Sally M. Reynosa
Oct 13, 1998 FRB (individual) Prohibition from Banking: Lois A. Brigham
Oct 13, 1998 FRB (individual) Prohibition from Banking: Jerome C. Bechstein
Oct 2, 1998 OCC_OTS Home Savings & Loan Association Orders of Removal/Prohibition: John Henderson Jr.
Oct 1, 1998 OCC First National Bank in Pawhuska Formal Agreement: First National Bank In Pawhuska
Sep 30, 1998 OCC Community National Corporation Formal Agreement: The Community National Bank
Sep 29, 1998 OCC SoFi Bank, N.A. Formal Agreement: Gold Country National Bank
Sep 25, 1998 OCC (individual) Prohibition/Removal Orders: Dahlman, Dawn M.
Sep 25, 1998 OCC (individual) Prohibition/Removal Orders: Dahlman, Jeffrey P.
Sep 9, 1998 OCC Rio Bank Formal Agreement: Rio National Bank
Sep 8, 1998 OCC Bank of America, N.A. Prohibition/Removal Orders: Espiritu, Elena
Sep 8, 1998 OCC_OTS Mercantile Federal Savings Bank Termination of Cease and Desist: James C. Hodge
Sep 3, 1998 OCC Ocala National Bank Formal Agreement: Ocala National Bank
Sep 1, 1998 OCC Monument National Bank Prompt Corrective Action (PCA) Directive: Monument National Bank
Aug 25, 1998 OCC (individual) Formal Agreement: Industrial Bank, N.A.
Aug 25, 1998 OCC East Texas National Bank of Marshall Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): East Texas National Bank
Aug 21, 1998 FRB Shorebank Cleveland Corporation Written Agreement: ShoreBank, Cleveland, Cleveland, OH
Aug 19, 1998 OCC The First National Bank of Holdrege Civil Money Penalty (CMP): Mueller, Gary R.
Aug 19, 1998 OCC The First National Bank of Holdrege Civil Money Penalty (CMP): Sterr, Ronald L.
Aug 19, 1998 OCC The First National Bank of Holdrege Civil Money Penalty (CMP): Schmoker, James G.
Aug 19, 1998 OCC The First National Bank of Holdrege Civil Money Penalty (CMP): Erickson, P. William
Aug 18, 1998 OCC Norwest Trust Texas, N.A. - Waco Prohibition/Removal Orders: Bolton-Johnson, Schronda
Aug 18, 1998 OCC Norwest Trust Texas, N.A. - Waco Prohibition/Removal Orders: Shriver, Kari
Aug 14, 1998 OCC Northeast Bancshares, Inc. Formal Agreement: Northeast National Bank
Aug 12, 1998 OCC First Texoma National Bank Civil Money Penalty (CMP): Dufur, Alan D.
Aug 12, 1998 OCC First Texoma National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Dufur, Alan D.
Aug 7, 1998 OCC_OTS Oak Tree Federal Savings Bank Cease and Desist: John D. Hastie
Aug 4, 1998 OCC_OTS Citizens Federal Savings Bank Supervisory Agreement: Citizens Federal Savings Bank
Aug 4, 1998 OCC_OTS Citizens Federal Savings Bank Supervisory Agreement: Citizens Federal Savings Bank
Jul 31, 1998 OCC_OTS (individual) Orders of Removal/Prohibition: Charles Eugene McKee
Jul 31, 1998 OCC The First National Bank of Holdrege Civil Money Penalty (CMP): Verbeck, Margery A.
Jul 29, 1998 OCC The First National Bank of O'Donnell Formal Agreement: The First National Bank Of O'Donnell
Jul 28, 1998 OCC American Independent Bank, National Association Formal Agreement: American Independent Bank, N.A.
Jul 27, 1998 OCC (individual) Prohibition/Removal Orders: Salmon, Richard
Jul 15, 1998 OCC First National Bank in Burkburnett Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank in Burkburnett
Jul 10, 1998 OCC_OTS (individual) Civil Money Penalty: Margaret A. Geraghty
Jul 8, 1998 OCC (individual) Civil Money Penalty (CMP): Salmon, Richard
Jul 8, 1998 OCC (individual) C&D or PC&D Requiring Restitution: Salmon, Richard
Jul 8, 1998 OCC Nova Financial Corporation Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Nova Financial Corporation
Jul 8, 1998 OCC_OTS Nova Financial Corporation Decision/Opinion and Order: Nova Financial Corp
Jul 1, 1998 OCC Nova Financial Corporation Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Nova Financial Corporation
Jul 1, 1998 OCC The First National Bank of Mt. Pulaski Formal Agreement: The First National Bank of Mt. Pulaski
Jun 30, 1998 OCC_OTS Cross County Savings Bank Cease and Desist: Thomas F. Basta
Jun 30, 1998 OCC_OTS (individual) Supervisory Agreement: Family Savings Bank, FSB
Jun 30, 1998 OCC_OTS (individual) Supervisory Agreement: Family Savings Bank, FSB
Jun 28, 1998 OCC The First National Bank of Holdrege Civil Money Penalty (CMP): Rikli, Roger A.
Jun 28, 1998 OCC The First National Bank of Holdrege Civil Money Penalty (CMP): Slominski, Kenneth J.
Jun 26, 1998 OCC_OTS Great Western Bank, a Federal Savings Bank Orders of Removal/Prohibition: Larry Scott Bentley
Jun 16, 1998 OCC Bank of America, N.A. C&D or PC&D Requiring Restitution: Espiritu, Elena

Browse adjacent years: 1997 · 1999

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