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 |
|---|---|---|
| Dec 21, 1998 | Bank of Sumner | Frontier Bank |
| Dec 21, 1998 | Valley Community Bancorp | Columbia Bancorp |
| Dec 21, 1998 | Valley Bancorporation | Frontier Financial Corporation |
| Dec 21, 1998 | (unnamed) | First Security Bank of California, N.A. |
| Dec 19, 1998 | Bank of Colorado-Front Range | Bank of Colorado |
| Dec 19, 1998 | Citizens Bankshares, Inc. | Associated Banc-Corp |
| Dec 19, 1998 | First Tennessee Bank National Association Mississippi | First Horizon Bank |
| Dec 19, 1998 | Pulse Savings Bank | First Savings Bank |
| Dec 19, 1998 | Associated Banc-Shares, Inc. | Associated Bank South Central |
| Dec 18, 1998 | New England Joint Board Federal Credit Union | Metro Credit Union |
| Dec 18, 1998 | First Southern National Bank of Wayne County | First Southern National Bank |
| Dec 18, 1998 | First Federal Lincoln Bank-Iowa | Tierone Bank |
| Dec 18, 1998 | First Southern National Bank of the Bluegrass | First Southern National Bank |
| Dec 18, 1998 | First Southern National Bank of Madison County | First Southern National Bank |
| Dec 18, 1998 | First Southern National Bank | First Southern National Bank |
| Dec 18, 1998 | Lakewood State Bank | Union Bank & Trust |
| Dec 18, 1998 | The Marine Bank | Farmers & Merchants Bank - Eastern Shore |
| Dec 17, 1998 | Remshave Federal Credit Union | Sikorsky Financial Credit Union, Inc. |
| Dec 16, 1998 | Home Bancorp of Elgin, Inc. | State Financial Services Corporation |
| Dec 16, 1998 | Telluride Bancorp, Ltd. | Vail Banks, Inc. |
| Dec 16, 1998 | Bryan Bancorp of Georgia, Inc. | The Savannah Bancorp, Inc. |
| Dec 16, 1998 | Susquehanna Bancshares West,inc | Susquehanna Bancshares West,inc |
| Dec 15, 1998 | Northwest Bancshares, Inc. | U.S. Bancorp |
| Dec 14, 1998 | VBH Corp. | Merchants Bancorp, Inc. |
| Dec 14, 1998 | Valley Banc Services Corp. | Merchants Bancorp, Inc. |
| Dec 14, 1998 | Peoples State Bancshares, Inc. | Peoples State Group, Inc. |
| Dec 14, 1998 | Fox Valley Bank | The Merchants National Bank of Aurora |
| Dec 14, 1998 | Hinckley State Bank | The Merchants National Bank of Aurora |
| Dec 12, 1998 | Mercantile Bank of Southeast Missouri | Firstar Bank Missouri, National Association |
| Dec 12, 1998 | (unnamed) | Firstar Bank Missouri, National Association |
| Dec 12, 1998 | Mercantile Bank of Central Missouri | Firstar Bank Missouri, National Association |
| Dec 12, 1998 | First National Bank of Evergreen Park | Fifth Third Bank |
| Dec 12, 1998 | Mercantile Bank of South Central Missouri | Firstar Bank Missouri, National Association |
| Dec 12, 1998 | Comerica Bank & Trust, Federal Savings Bank | Comerica Bank |
| Dec 12, 1998 | Jefferson National Bank | VeraBank, N.A. |
| Dec 12, 1998 | Mercantile Bank of Northern Missouri | Firstar Bank Missouri, National Association |
| Dec 12, 1998 | Mercantile Bank of Missouri Valley | Firstar Bank Missouri, National Association |
| Dec 12, 1998 | Newberry Bank | Republic Security Bank |
| Dec 12, 1998 | Mercantile Bank of Western Missouri | Firstar Bank Missouri, National Association |
| Dec 11, 1998 | Farmers Bank, National Association | Old National Bank |
| Dec 11, 1998 | First American Bank of Indian River County | SouthTrust Bank |
| Dec 11, 1998 | Bank of Crittenden | Community First Bank of Kentucky |
| Dec 11, 1998 | Empire Bank Corp. | Flag Financial Corporation |
| Dec 10, 1998 | Eagle Bancorp, Inc. | Pab Bankshares, Inc. |
| Dec 10, 1998 | Quinter Insurance Service, Inc. | First National Bancshares, Inc. |
| Dec 10, 1998 | Citizens Bancorporation, Inc. | Gold Banc Corporation, Inc. |
| Dec 10, 1998 | SC Bancorp, Inc. | Founders Group, Inc. |
| Dec 10, 1998 | Security Financial Corp of Fredericksburg | Security Holding Company |
| Dec 10, 1998 | The First National Bank of Quinter | FNB Bank |
| Dec 8, 1998 | First Alpine, Inc. | First Pecos Bancshares, Inc. |
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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