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 |
|---|---|---|
| Oct 31, 1998 | Mountain Financial Holding Company | Val Cor Bancorporation, Inc. |
| Oct 31, 1998 | Highland Bank | Cadence Bank |
| Oct 31, 1998 | QFC Federal Credit Union | Fred Meyer Employees Federal Credit Union |
| Oct 31, 1998 | Alabama Bancorp | Bancorpsouth, Inc. |
| Oct 31, 1998 | First Citizens Bank of Monroe County | Superior Bank |
| Oct 31, 1998 | City National Corporation | The Banc Corporation |
| Oct 31, 1998 | State Bank of Noel | Bank of Bentonville |
| Oct 31, 1998 | First of America Bank-Illinois, National Association | National City Bank of the Midwest |
| Oct 31, 1998 | Tri-County National Bank | Peoples National Bank |
| Oct 31, 1998 | Mountain National Bank | Vectra Bank Colorado, National Association |
| Oct 31, 1998 | First Community Bank of The South | Cadence Bank |
| Oct 31, 1998 | The Peoples Building and Loan Company | Peoples Community Bank |
| Oct 31, 1998 | The City National Bank of Sylacauga | Superior Bank |
| Oct 30, 1998 | SecurityBank Texas | SouthTrust Bank |
| Oct 30, 1998 | Simmons Dallas Credit Union | A New Direction Credit Union |
| Oct 30, 1998 | First Financial Bancorp, Inc. | Blackhawk Bancorp, Inc. |
| Oct 30, 1998 | Realty and Mortgage Investors of the Pacific, Ltd. | Bank of Hawaii |
| Oct 30, 1998 | Lemars Bancorporation, Inc. | Primebank, Inc. |
| Oct 30, 1998 | Bank of Gallatin/First State Bank | BTC Bank |
| Oct 29, 1998 | First Bank of Florida | Republic Security Bank |
| Oct 24, 1998 | Compass Bank | BBVA USA |
| Oct 24, 1998 | The First State Bank of Casselton | Wells Fargo Bank North Dakota, National Association |
| Oct 24, 1998 | First National Bank of Valley City | Wells Fargo Bank North Dakota, National Association |
| Oct 24, 1998 | Johnson Bank, National Association | Johnson Bank |
| Oct 24, 1998 | The First National Bank of Castle Rock | The First National Bank of Strasburg |
| Oct 24, 1998 | Bank of Los Angeles | Santa Monica Bank |
| Oct 24, 1998 | Missouri Southern Bank | Wood & Huston Bank |
| Oct 24, 1998 | Litchville State Bank | Wells Fargo Bank North Dakota, National Association |
| Oct 24, 1998 | Heritage Bank | First Midwest Bank |
| Oct 24, 1998 | First Federal Savings Bank of Kent | Firstmerit Bank, National Association |
| Oct 24, 1998 | Security Federal Savings and Loan Association of Cleveland | Firstmerit Bank, National Association |
| Oct 24, 1998 | The Peoples National Bank of Rural Valley | Promistar Bank |
| Oct 23, 1998 | McDonald & Company Investments, Inc. | KeyCorp |
| Oct 23, 1998 | Benton State Bank | Regions Bank |
| Oct 23, 1998 | The Citizens National Bank of Tell City | Old National Bank |
| Oct 23, 1998 | Citizens First Bank | Regions Bank |
| Oct 23, 1998 | Citizens First Bank | Regions Bank |
| Oct 23, 1998 | Security Bank and Trust Co. | Old National Bank |
| Oct 23, 1998 | Arkansas Bank and Trust Company | Regions Bank |
| Oct 22, 1998 | Corry Savings Bank | Northwest Bank |
| Oct 19, 1998 | Corestates Bank of Delaware, N.A. | Wachovia Bank of Delaware, National Association |
| Oct 19, 1998 | Colonial Bank of South Carolina, Inc. | Carolina First Bank |
| Oct 19, 1998 | Gen Office & Lab. (G.O.A.L.) Employees Federal Credit Union | Sunmark Credit Union |
| Oct 17, 1998 | Lincolnland Bank | Integra Bank N.A. |
| Oct 17, 1998 | Wayne Bancorp, Inc. | Valley National Bancorp |
| Oct 17, 1998 | Maple Park Bancshares, Inc. | Old Second Bancorp, Inc. |
| Oct 17, 1998 | Bank of Columbia, National Association | The Anchor Bank |
| Oct 17, 1998 | Warrior Capital Corporation | The Banc Corporation |
| Oct 17, 1998 | MidAmerica Bank | Wells Fargo Bank Minnesota, National Association |
| Oct 17, 1998 | CS Financial Corporation | Charter-Michigan Bancorp, 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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