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 |
|---|---|---|
| Nov 25, 1998 | The Sun City Bank | Founders Bank of Arizona |
| Nov 25, 1998 | Oneida Valley Bancshares, Inc. | Alliance Financial Corporation |
| Nov 24, 1998 | Georgia National Bancorp, Inc. | Southtrust Corporation |
| Nov 24, 1998 | Georgia National Bank | SouthTrust Bank |
| Nov 24, 1998 | Fidelity State Bank | Commerce Bank, National Association |
| Nov 23, 1998 | Hinton Financial Corporation | City Holding Company |
| Nov 21, 1998 | NSS Bancorp, Inc. | Summit Bancorp. |
| Nov 21, 1998 | North Pacific Bank | Heritage Bank |
| Nov 21, 1998 | First National Bank of Warsaw | National City Bank of Indiana |
| Nov 21, 1998 | Security Savings Association | Enterprise Federal Savings Bank |
| Nov 21, 1998 | The Commercial and Savings Bank Company | The Killbuck Savings Bank Company |
| Nov 21, 1998 | Valley American Bank and Trust Company | National City Bank of Indiana |
| Nov 21, 1998 | Old-First National Bank in Bluffton, Bluffton, Indiana | National City Bank of Indiana |
| Nov 21, 1998 | First National Bank of Huntington | National City Bank of Indiana |
| Nov 21, 1998 | Fort Wayne National Bank | National City Bank of Indiana |
| Nov 21, 1998 | Churubusco State Bank | National City Bank of Indiana |
| Nov 21, 1998 | The Bank of New Mexico | Wells Fargo Bank New Mexico, National Association |
| Nov 21, 1998 | Bank of Arizona | Wells Fargo Bank Arizona, National Association |
| Nov 21, 1998 | First National South | The Anchor Bank |
| Nov 21, 1998 | Hometown Bancshares, Inc. | Sterling Bancorporation, LLC |
| Nov 21, 1998 | First State Bank of Higginsville/Odessa | Central Bank of Warrensburg |
| Nov 21, 1998 | The Auburn State Bank | National City Bank of Indiana |
| Nov 20, 1998 | Springhill Bank & Trust Company | Regions Bank |
| Nov 20, 1998 | First National Bank | Regions Bank |
| Nov 20, 1998 | Capital Bank, National Association | FCNB Bank |
| Nov 20, 1998 | Pioneer Bancshares, Inc. | First American Corporation |
| Nov 20, 1998 | Trumbull Savings and Loan Company | The Second National Bank of Warren |
| Nov 20, 1998 | Star Banc Corporation | Firstar Holdings Corporation |
| Nov 20, 1998 | Valley Bank | First American National Bank |
| Nov 20, 1998 | The First National Bank of Nashville | Regions Bank |
| Nov 20, 1998 | Pioneer Bank | First American National Bank |
| Nov 20, 1998 | Farmers State Bank of McNabb | First State Bank |
| Nov 17, 1998 | Amsterdam Federal Bank | Mohawk Community Bank |
| Nov 16, 1998 | Central Bank | Bank One, Louisiana, National Association |
| Nov 16, 1998 | City National Bank of Baton Rouge | Bank One Trust Company, N.A. |
| Nov 16, 1998 | Louisiana Banc One Corporation | Bank One Corporation |
| Nov 16, 1998 | First National Bank of Commerce | Bank One, Louisiana, National Association |
| Nov 16, 1998 | First Security Bank of Craig | Imperial Bank |
| Nov 16, 1998 | The First National Bank of Lafayette | Bank One, Louisiana, National Association |
| Nov 16, 1998 | The First National Bank of Lake Charles | Bank One, Louisiana, National Association |
| Nov 16, 1998 | One Valley Bank of Clarksburg, National Association | One Valley Bank, Inc. |
| Nov 16, 1998 | Rapides Bank & Trust Company in Alexandria | Bank One, Louisiana, National Association |
| Nov 15, 1998 | Central Company, Inc. | Louisiana Banc One Corporation |
| Nov 15, 1998 | Baronne Street Properties, Inc. | Louisiana Banc One Corporation |
| Nov 15, 1998 | Marquis Leasing Company | Louisiana Banc One Corporation |
| Nov 15, 1998 | First Commerce Service Corporation | Louisiana Banc One Corporation |
| Nov 15, 1998 | Marquis Insurance Agency, LLC | Louisiana Banc One Corporation |
| Nov 15, 1998 | First Money, L.L.C. | Louisiana Banc One Corporation |
| Nov 14, 1998 | First State Bank | Wells Fargo Bank Texas, National Association |
| Nov 14, 1998 | Dauphin Deposit Bank and Trust Company | Allfirst 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 |
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