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 14, 1998 | Alliance Bank | Integra Bank N.A. |
| Nov 14, 1998 | The York Bank and Trust Company | Allfirst Bank |
| Nov 14, 1998 | The Rock Island Bank, National Association | Mercantile Bank MidWest |
| Nov 14, 1998 | First Federal Savings & Loan Association of Montana | Sterling Savings Bank |
| Nov 14, 1998 | Lexington Savings Bank | USTrust |
| Nov 14, 1998 | First National Bank Iowa | Mercantile Bank MidWest |
| Nov 14, 1998 | Maryland Federal Bank | Truist Bank |
| Nov 13, 1998 | First Financial Bank | Associated Bank Milwaukee |
| Nov 13, 1998 | Washington Square Federal Credit Union | Blupeak Federal Credit Union |
| Nov 13, 1998 | Amquest Bank, N.A. | BancFirst |
| Nov 13, 1998 | State Bank of Mount Horeb | Amcore Bank, National Association, South Central |
| Nov 13, 1998 | U S C O Federal Credit Union | Tech Credit Union |
| Nov 13, 1998 | AMCORE Bank, Argyle | Amcore Bank, National Association, South Central |
| Nov 13, 1998 | NationsBank of Tennessee, National Association | Bank of America, N.A. |
| Nov 13, 1998 | First National Bancorp, Inc. | Country Bank Shares Corporation |
| Nov 13, 1998 | First Financial Investments, Inc. | Associated Bank Milwaukee |
| Nov 12, 1998 | First Financial Corporation | First Financial Bank |
| Nov 10, 1998 | Zook & Roecker State Bank | Carrollton Bank |
| Nov 9, 1998 | Mountain Bank | Wells Fargo Bank West, National Association |
| Nov 9, 1998 | Bank of Drummond | Cowboy Bank |
| Nov 7, 1998 | Commerce Bank of Alabama | Superior Bank |
| Nov 7, 1998 | Security State Bank of Wykoff | Security State Bank of Lewiston |
| Nov 7, 1998 | Pike County Bank | Integra Bank N.A. |
| Nov 7, 1998 | MidAmerica Bank North | Wells Fargo Bank Wisconsin, National Association |
| Nov 7, 1998 | MidAmerica Bank | Wells Fargo Bank Wisconsin, National Association |
| Nov 7, 1998 | City Bank | Gold BANK |
| Nov 6, 1998 | First Commercial Bank, National Association | Regions Bank |
| Nov 6, 1998 | Lochaven Federal Savings and Loan Association | Republic Bank |
| Nov 6, 1998 | Bankers Savings Bank | Republic Bank |
| Nov 3, 1998 | Wells Fargo & Company | WFC Holdings, LLC |
| Nov 2, 1998 | Osmond State Bank | Security Bank |
| Nov 2, 1998 | Fidelity Bankshares, Inc. | Cbi-Kansas, Inc. |
| Nov 2, 1998 | Heritage Bank of Olathe | Commerce Bank |
| Nov 2, 1998 | Cbi-Kansas, Inc. | Cbi-Kansas, Inc. |
| Nov 2, 1998 | First Community Bancorp, Inc. | National Commerce Financial Corporation |
| Nov 1, 1998 | Bancwest Corporation | First Hawaiian, Inc. |
| Nov 1, 1998 | Pacific One Bank | Bank of the West |
| Nov 1, 1998 | Plano Savings Credit Union | Illinois Community Credit Union |
| Nov 1, 1998 | El Segundo Chevron Employees Credit Union | Chevron Federal Credit Union |
| Nov 1, 1998 | Marathon Ashland Division C Credit Union | Superior Choice Credit Union |
| Nov 1, 1998 | Downstate Banking Company | Integra Bank Corporation |
| Nov 1, 1998 | Downstate National Bank | Illinois One Bank, National Association |
| Nov 1, 1998 | P & S F Local 389 Credit Union | Ibew Local 681 Credit Union |
| Nov 1, 1998 | Insurance Employees Federal Credit Union | General Credit Union |
| Nov 1, 1998 | Central Mutual Credit Union | American Mutual Credit Union, Inc |
| Nov 1, 1998 | Danly Employees Credit Union | Burlington Northern Santa Fe Railway Credit Union |
| Nov 1, 1998 | Elk Grove Township Schools Credit Union | A a E C Credit Union |
| Oct 31, 1998 | First Citizens Bancorp, Inc. | The Banc Corporation |
| Oct 31, 1998 | Commonwealth Commercial Corp. | Integra Bank Corporation |
| Oct 31, 1998 | Busey Business Bank | Busey 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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