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.
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 | Acquirer |
|---|---|---|
| Sep 4, 1998 | First Federal Savings Bank | Blackhawk Bank |
| Sep 2, 1998 | Bennett Pump Employees Federal Credit Union | First General Credit Union |
| Sep 1, 1998 | Eagle Holding Company | Val Cor Bancorporation, Inc. |
| Sep 1, 1998 | Kittitas Valley Bancorp | Pacific Northwest Bancorp |
| Sep 1, 1998 | Community Bank Capital Corporation | Synovus Financial Corp. |
| Sep 1, 1998 | Participants Trust Company | The Depository Trust Company |
| Sep 1, 1998 | Village Bankshares, Inc. | Regions Financial Corporation |
| Sep 1, 1998 | Jefferson County Bancorp, Inc. | First American Bankshares, Inc. |
| Sep 1, 1998 | Comsouth Bankshares, Inc. | Anchor Financial Corporation |
| Sep 1, 1998 | Dakota Company, Inc. | Marquette Financial Companies |
| Sep 1, 1998 | Saint Lawrence Parish Credit Union | Morris Community Credit Union |
| Sep 1, 1998 | Citizens Holding Corporation | Southwest Banks, Inc. |
| Sep 1, 1998 | Bayerische Hypotheken- Und Wechsel-Bank Aktiengesellschaft | Unicredit Bank GmbH |
| Sep 1, 1998 | Stephenson Area Federal Credit Union | Integra First Federal Credit Union |
| Sep 1, 1998 | N.C.H. Community Credit Union, Inc. | Greater Cincinnati Credit Union, Inc. |
| Sep 1, 1998 | Eagle Bank | Vectra Bank Colorado, National Association |
| Sep 1, 1998 | Pacific Commerce Bank | Scripps Bank |
| Sep 1, 1998 | M & M Financial Corporation | Anchor Financial Corporation |
| Sep 1, 1998 | Peoples Savings Financial Corporation | Emclaire Financial Corp |
| Sep 1, 1998 | Cheyenne Western Bank | First Community Bank |
| Sep 1, 1998 | Deposit Guaranty National Bank | First American National Bank |
| Sep 1, 1998 | Transflorida Bank | Union Planters Bank, National Association |
| Sep 1, 1998 | First American Bank | First Bank & Trust |
| Sep 1, 1998 | Doehler Employees Federal Credit Union | Jeep Country Federal Credit Union |
| Sep 1, 1998 | Peoples Savings Bank | The Farmers National Bank of Emlenton |
| Aug 31, 1998 | Tappan Zee Financial, Inc. | U.S.B. Holding Co., Inc. |
| Aug 31, 1998 | Hub Financial Corporation | Glacier Bancorp, Inc. |
| Aug 31, 1998 | Community First Financial, Inc. | Integra Bank Corporation |
| Aug 31, 1998 | Ambanc Corp. | Union Planters Holding Corporation |
| Aug 31, 1998 | Trigg Bancorp, Inc. | Integra Bank Corporation |
| Aug 31, 1998 | Marietta Memorial Hospital Employees Credit Union, Inc. | Southeastern Ohio Credit Union, Inc. |
| Aug 31, 1998 | Pioneer Federal Savings Bank | Central Bank & Trust Company |
| Aug 31, 1998 | Washington County Credit Union, Inc. | Southeastern Ohio Credit Union, Inc. |
| Aug 29, 1998 | American National Bank of Sarpy County | American National Bank |
| Aug 29, 1998 | Kersey Bancorp, Inc. | Val Cor Bancorporation, Inc. |
| Aug 29, 1998 | Independent Bank | Vectra Bank Colorado, National Association |
| Aug 29, 1998 | Gibson Employees Federal Credit Union | Kemba Credit Union, Inc. |
| Aug 29, 1998 | First National Bank | Union Bank and Trust Company |
| Aug 29, 1998 | Bainbridge National Bank | First Community Bank of Southwest Georgia |
| Aug 28, 1998 | State First National Bank | Regions Bank |
| Aug 28, 1998 | State First National Bank | Regions Bank |
| Aug 26, 1998 | First Petersburg Bancshares, Inc. | Vista Bancshares, Inc. |
| Aug 24, 1998 | First National Sylacauga Corporation | Frontier National Corporation |
| Aug 22, 1998 | Dime Financial Corporation | Hudson United Bancorp |
| Aug 22, 1998 | Trans Financial Mortgage Company Inc. | U.S. Bank N.A. |
| Aug 22, 1998 | Trans Travel Inc. | U.S. Bank N.A. |
| Aug 22, 1998 | Trans Financial Bank, N.A. | U.S. Bank N.A. |
| Aug 22, 1998 | The First National Bancorp of Greenville, Inc. | Whitney Holding Corporation |
| Aug 22, 1998 | Trans Financial, Inc. | Star Banc Corporation |
| Aug 22, 1998 | NationsBank of Kentucky, National Association | First City Bank and Trust Company |
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 |
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