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 17, 1998 | Fed One Bank | United Bank |
| Oct 17, 1998 | Midamerica Bank South | Norwest Bank Minnesota South, National Association |
| Oct 17, 1998 | Cuyahoga Savings Association | Charter One Bank, National Association |
| Oct 17, 1998 | Bank of Charleston, National Association | The Anchor Bank |
| Oct 17, 1998 | The Commercial Bank of Roanoke, Alabama | Superior Bank |
| Oct 17, 1998 | Wayne Savings Bank, F.S.B. | Valley National Bank |
| Oct 17, 1998 | Commercial Bancshares of Roanoke, Inc. | The Banc Corporation |
| Oct 16, 1998 | First National Bank of Port Orchard | Pacific Northwest Bank |
| Oct 16, 1998 | First Citizens Bank & Trust Company | First-Citizens Bank & Trust Company |
| Oct 16, 1998 | Exchange National Bank and Trust Company | BancFirst |
| Oct 15, 1998 | Azle Holdings, Inc. | Independent Bankshares, Inc. |
| Oct 15, 1998 | Azle Bancorp | Independent Bankshares, Inc. |
| Oct 14, 1998 | South Valley National Bank | First National Bank of Central California |
| Oct 14, 1998 | Interwest Bancorp | The Colonial Bancgroup, Inc. |
| Oct 14, 1998 | Interwest Bank | Colonial Bank |
| Oct 13, 1998 | Gettysburg Area Federal Credit Union | Belco Community Credit Union |
| Oct 10, 1998 | Silsbee State Bank | Community Bank & Trust, S.S.B. |
| Oct 9, 1998 | Seminole Bank, National Association | First National Bank of Florida |
| Oct 9, 1998 | Community Bank of the Islands | Bank of America, N.A. |
| Oct 9, 1998 | Omni Bank | The Bank of Edwardsville |
| Oct 9, 1998 | The First National Bank of Conway | Regions Bank |
| Oct 9, 1998 | First National Bank of Russellville | Regions Bank |
| Oct 9, 1998 | Barnett Bank, National Association | Bank of America, N.A. |
| Oct 9, 1998 | Morrilton Security Bank, National Association | Regions Bank |
| Oct 9, 1998 | Citizens Bank & Trust | First National Bank of Florida |
| Oct 9, 1998 | Clinton State Bank | Regions Bank |
| Oct 9, 1998 | Citizens Bank | Local Oklahoma Bank |
| Oct 9, 1998 | Magna Bank, National Association | Union Planters Bank, National Association |
| Oct 8, 1998 | Banksouth Corp | Citizens Bank |
| Oct 7, 1998 | Prime Bank of Central Florida | Colonial Bank |
| Oct 6, 1998 | Cylinder Bancorporation | Iowa Trust & Savings Bank |
| Oct 6, 1998 | Cylinder State Bank | Iowa Trust & Savings Bank |
| Oct 4, 1998 | Home Savings of America, FSB | Washington Mutual Bank |
| Oct 3, 1998 | Lilly Industries Federal Credit Union | Indiana Members Credit Union |
| Oct 3, 1998 | Concora Anderson Employees Federal Credit Union | Indiana Members Credit Union |
| Oct 2, 1998 | Community Financial Corporation | Alabama National Bancorporation |
| Oct 2, 1998 | Mid Am, Inc. | SKY Financial Group, Inc. |
| Oct 2, 1998 | First Chicago NBD Corporation | Bank One Corporation |
| Oct 2, 1998 | First Macon Bank & Trust Company | Colonial Bank |
| Oct 1, 1998 | Peoples Trust of 1987 | Winter Trust of 12/3/74 |
| Oct 1, 1998 | Morgan Stanley Trust Company | JPMorgan Chase Bank, N.A. |
| Oct 1, 1998 | First Evergreen Corporation | Old Kent Financial Corporation |
| Oct 1, 1998 | Atlanta Cooperative Credit Association Credit Union | Associated Credit Union |
| Oct 1, 1998 | 1st Bancorp Vienna | Integra Bank Corporation |
| Oct 1, 1998 | Prairie Bankshares, Inc. | Citizens Bank of Kansas |
| Oct 1, 1998 | Swift Credit Union | Five Star Credit Union |
| Oct 1, 1998 | Citizens Bancorporation, Inc. | Suntrust Bank Holding Company |
| Oct 1, 1998 | The Long Island Savings Bank, FSB | Astoria Bank |
| Oct 1, 1998 | Nypoe Federal Credit Union | Picatinny Federal Credit Union |
| Oct 1, 1998 | State Bank of South Orange | United Trust 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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