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 1, 1998 | Wallula Federal Credit Union | Hapo Community Credit Union |
| Oct 1, 1998 | The Middle Tennessee Bank | First American National Bank |
| Oct 1, 1998 | Toshiba/Houston Credit Union | First Community Credit Union |
| Oct 1, 1998 | Kansas City Community Credit Union | Midwest Regional Credit Union |
| Oct 1, 1998 | Santa Fe West Credit Union | E-Central Credit Union |
| Oct 1, 1998 | Faultless Rubber Federal Credit Union | Ashland Community Federal Credit Union |
| Oct 1, 1998 | Citizens Bank of Marianna | SunTrust Bank, Tallahassee, National Association |
| Oct 1, 1998 | Hoosier Hills Financial Corporation | Integra Bank Corporation |
| Oct 1, 1998 | First Global Bank Federal Savings Bank | Hanmi Bank |
| Oct 1, 1998 | Castle Medical Center Federal Credit Union | Ko'Olau Federal Credit Union |
| Oct 1, 1998 | HP Colorado Federal Credit Union | First Technology Federal Credit Union |
| Oct 1, 1998 | Eagle Valley Bank | Eagle Valley Bank, National Association |
| Oct 1, 1998 | Mrs Smith's Pie Co. Federal Credit Union | Diamond Federal Credit Union |
| Oct 1, 1998 | The State Bank-Pretty Prairie | Citizens Bank of Kansas |
| Oct 1, 1998 | Trailer Builders Credit Union | River Bend Credit Union |
| Oct 1, 1998 | The Sumitomo Bank of California | California Bank & Trust |
| Oct 1, 1998 | The First State Bank of Vienna | Illinois One Bank, National Association |
| Oct 1, 1998 | Oregon Community Credit Union | Membersalliance Credit Union |
| Oct 1, 1998 | Sasf Credit Union | Trans Texas Southwest Credit Union |
| Oct 1, 1998 | Santa Fe Federal Employees Federal Credit Union | Del Norte Credit Union |
| Oct 1, 1998 | Gadsden State Bank | SunTrust Bank, Tallahassee, National Association |
| Oct 1, 1998 | Toole County Federal Credit Union | Bear Paw Credit Union |
| Oct 1, 1998 | The Hight State Bank | Scott State Bank |
| Oct 1, 1998 | Salem Eba Credit Union | Virginia Federal Credit Union |
| Oct 1, 1998 | Peoples, Inc. | Peoples, Inc. |
| Oct 1, 1998 | First National Bank of Sheridan | The Malvern National Bank |
| Oct 1, 1998 | NPC Federal Credit Union | Ridgedale Federal Credit Union |
| Oct 1, 1998 | Cheatham State Bank | First American National Bank |
| Oct 1, 1998 | Union State Bank | Prosperity Bank |
| Oct 1, 1998 | Brooklyn Postal Employees Credit Union | Municipal Credit Union |
| Oct 1, 1998 | Security First Network Bank, FSB | Security First Network Bank |
| Oct 1, 1998 | Inland Steel Credit Union | First Northern Credit Union |
| Oct 1, 1998 | Farmers National Bank | Susquehanna Bank DV |
| Oct 1, 1998 | Natick QM Federal Credit Union | Hanscom Federal Credit Union |
| Oct 1, 1998 | CSB Financial Corporation | First American Corporation |
| Oct 1, 1998 | Amquest Financial Corp. | BancFirst Corporation |
| Oct 1, 1998 | DHCD Federal Credit Union | DC Federal Credit Union |
| Sep 30, 1998 | American Credit Corporation | Firstar Holdings Corporation |
| Sep 30, 1998 | DPC of Milwaukee, Inc. | Firstar Bank Milwaukee, National Association |
| Sep 30, 1998 | Bancorp Pacific, Inc. | Bank of Hawaii |
| Sep 30, 1998 | CSFM Corporation | Firstar Bank Milwaukee, National Association |
| Sep 30, 1998 | Production Experts Employees Credit Union, Inc. | Community United Credit Union |
| Sep 30, 1998 | First Federal Savings and Loan Association of America | Bank of Hawaii |
| Sep 30, 1998 | First National Bank of Pickens County | Carolina First Bank |
| Sep 30, 1998 | Minutemen Credit Union | American Lake Credit Union |
| Sep 30, 1998 | Firstar Trust Company | Firstar Bank Milwaukee, National Association |
| Sep 30, 1998 | Bankamerica Corporation | Bank of America Corporation |
| Sep 28, 1998 | First Financial Bancorporation | Ameribanc, Inc. |
| Sep 28, 1998 | (unnamed) | Wells Fargo Bank Texas, National Association |
| Sep 28, 1998 | (unnamed) | Wells Fargo Bank Texas, National Association |
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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