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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.

Date Bank HQ Assets Acquirer or resolution
Aug 7, 1998 Q Bank Fort Benton, MT $15.0M Heritage State Bank
Jul 23, 1998 Bestbank Boulder, CO $233.2M The Pueblo Bank and Trust C
Apr 9, 1998 Omnibank River Rouge, MI $42.0M Shorebank, Detroit

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 St Acquirer
Dec 31, 1998 Sedalia Computer Services, Inc. MO The Union Savings Bank
Dec 31, 1998 Southwest National Corporation PA First Commonwealth Financial Corporation
Dec 31, 1998 The Trust Company MO Gold Trust Company
Dec 31, 1998 Conrad Bancorporation IA Central Iowa Bancorporation, Inc.
Dec 31, 1998 Bank of Vancouver WA West Coast Bank
Dec 31, 1998 Evergreen Bancorp, Inc. NY Banknorth Group, Inc.
Dec 31, 1998 Langdon Bank Holding Company ND Walhalla Bank Holding Company
Dec 31, 1998 Paola - Citizens Bancshares, Inc. KS Citizens State Bank
Dec 31, 1998 Citizens Bank of Southern Indiana IN Fifth Third Bank, Indiana
Dec 31, 1998 Citizen's Trust Company of Indiana, N.A. IN Fifth Third Bank, Indiana
Dec 31, 1998 The Brown Bank GA FLAG Bank
Dec 31, 1998 Exchange Bancshares, Inc. OK Skiatook Bancshares, Inc.
Dec 31, 1998 Centennial Bank WA West Coast Bank
Dec 31, 1998 Cornerstone Northwest Mortgage, Inc. WA Pacific Northwest Bank
Dec 31, 1998 Horizon Bancorp, Inc. WV City Holding Company
Dec 31, 1998 Pacific Capital Bancorp CA Pacific Capital Bancorp
Dec 31, 1998 Citizens Bank of Kentucky KY Fifth Third Bank, Indiana
Dec 31, 1998 The Citizens National Bank of Evansville IN Fifth Third Bank, Indiana
Dec 31, 1998 North American Trust Company CA City National Bank
Dec 31, 1998 Lanco Credit Union AL Azalea City Credit Union
Dec 31, 1998 Saint James Bancorporation, Inc. LA Regions Financial Corporation
Dec 31, 1998 Southeast Bancorp, Inc. KY Union Planters Holding Corporation
Dec 31, 1998 Laplace Bancshares, Inc. LA Union Planters Holding Corporation
Dec 31, 1998 Industrial Bank CA Washington Mutual Bank
Dec 31, 1998 Citizens Bank of Central Indiana IN Fifth Third Bank, Indiana
Dec 31, 1998 Community Trust Bank of West Virginia, National Association WV Community Trust Bank, Inc.
Dec 31, 1998 Community Bank of Naples, N.A. FL First Gulf Bank, N.A.
Dec 31, 1998 The Commercial Bank OR West Coast Bank
Dec 31, 1998 Citizens Bank of Illinois, National Association IL Fifth Third Bank, Indiana
Dec 31, 1998 FSB, Inc. TN Union Planters Holding Corporation
Dec 31, 1998 Citizens Bank of Western Indiana IN Fifth Third Bank, Indiana
Dec 31, 1998 PNB Financial Group CA Western Bancorp
Dec 31, 1998 Allegiant Mortgage Company MO Allegiant Bank
Dec 31, 1998 Providence Federal Credit Union OH Faith Community United Credit Union Inc.
Dec 30, 1998 First Community Bank-FCB MO First Community Bank
Dec 30, 1998 Plainview National Bank NE Midwest Bank
Dec 30, 1998 The American National Bank of Creighton NE Midwest Bank
Dec 30, 1998 Garwin Bancorporation IA Lincoln Bancorp
Dec 30, 1998 Greene Bancorporation IA Lincoln Bancorp
Dec 30, 1998 The Nebraska Security Bank NE Midwest Bank
Dec 30, 1998 The Farmers National Bank in Pilger NE Midwest Bank
Dec 29, 1998 Northern Illinois Bancorp, Inc. IL First American Bank Corporation
Dec 29, 1998 First Security Bank of Belgrade MT First Security Bank
Dec 29, 1998 Banc One Indiana Corporation IN Bank One Corporation
Dec 29, 1998 Employees of Imperial Federal Credit Union NY GP Community Federal Credit Union
Dec 28, 1998 The Century National Bank and Trust Company PA Sky Bank
Dec 24, 1998 Monarch Bank, FSB NJ Provident Bank
Dec 24, 1998 Belmont Associates, Inc. MA Provident Bank
Dec 22, 1998 American Coil Spring Employees Federal Credit Union MI Service 1 Federal Credit Union
Dec 22, 1998 Paola-Citizens Investment Company, Inc. KS Citizens State Bank

The list holds 500 of the 1,286 mergers recorded for 1998.

Enforcement Actions in 1998

Action date Agency Institution Action
Jun 3, 1998 OCC Heartland Bancshares, Inc. Formal Agreement: Heartland National Bank
Jun 2, 1998 OCC_OTS (individual) Orders of Removal/Prohibition: J. Ruth Coneeny
May 28, 1998 OCC The First National Bank of Keystone Formal Agreement: The First National Bank Of Keystone
May 21, 1998 FRB Credit and Commerce American Holdings N V Prohibition from Banking: Faisal Saud Al-Fulaij
May 20, 1998 FRB Banco Industrial De Venezuela, C.A. Cease and Desist Order: Banco Industrial de Venezuela, Caracas, Venezuela
May 18, 1998 FRB (individual) Cease and Desist Order: Bancomer, S.A., Mexico City, Mexico
May 18, 1998 OCC (individual) Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Heartland Bank, N.A.
May 18, 1998 OCC Vermont National Bank Trust Company Prohibition/Removal Orders: George, William H.
May 18, 1998 FRB Banca Serfin, Sa Cease and Desist Order: Banca Serfin, S.A., Mexico
May 18, 1998 FRB Banco Internacional,sa Cease and Desist Order: Banco Internacional, S.A. (Bital), Mexico
May 18, 1998 FRB Banco Nacional De Mexico, S.A., Integrante Del Grupo Financiero Banamex Cease and Desist Order: Banco Nacional de Mexico (Banamex), Mexico
May 18, 1998 FRB Banco Santander, S.A. Cease and Desist Order: Banco Santander, Spain
May 13, 1998 FRB (individual) Notice of Intent: Ricardo Carrasco
May 5, 1998 OCC The Malta National Bank Prompt Corrective Action (PCA) Directive: Malta National Bank
May 5, 1998 OCC Peoples National Bank of Commerce Prohibition/Removal Orders: Aguirre, John
Apr 30, 1998 OCC Rock Hill National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Wroble, Daniel R.
Apr 30, 1998 OCC Rock Hill National Bank Civil Money Penalty (CMP): Nationsbank, N.A.
Apr 28, 1998 OCC The First National Bank of Logan Formal Agreement: The First National Bank of Logan
Apr 21, 1998 OCC_OTS Washington Federal Savings Bank Supervisory Agreement: Washington Federal Savings Bank
Apr 21, 1998 OCC_OTS (individual) Supervisory Agreement: Federal Savings Bank
Apr 17, 1998 OCC_OTS Topa Savings Bank Orders of Removal/Prohibition: Robert Raider Hollman
Apr 14, 1998 OCC_OTS Little Falls Bank Civil Money Penalty: Little Falls Bank
Apr 13, 1998 OCC Hana Bank USA, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Broadway National Bank
Apr 13, 1998 OCC_OTS (individual) Cease and Desist: Lynda Darland Krisman
Apr 10, 1998 OCC Bank of Indiana, N.A. Prohibition/Removal Orders: Schroeder, Lee
Apr 10, 1998 OCC Park National Bank C&D or PC&D Requiring Restitution: Allen, Raymond J.
Apr 10, 1998 OCC Associates Corporation of North America <A Texas Corporation> C&D or PC&D Requiring Restitution: Lisbony, Daniel
Apr 10, 1998 OCC Park National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Anderson, Donald
Apr 10, 1998 OCC Park National Bank Civil Money Penalty (CMP): Allen, Raymond J.
Apr 10, 1998 OCC Park National Bank Civil Money Penalty (CMP): Anderson, Donald
Apr 10, 1998 OCC Bank of Indiana, N.A. Civil Money Penalty (CMP): Schroeder, Lee
Apr 10, 1998 OCC Park National Bank Prohibition/Removal Orders: Allen, Raymond J.
Apr 10, 1998 OCC Associates Corporation of North America <A Texas Corporation> Prohibition/Removal Orders: Lisbony, Daniel
Apr 6, 1998 OCC Western American National Bank Prompt Corrective Action (PCA) Directive: Western American National Bank
Apr 6, 1998 OCC_OTS Federal Trust Bank, A Federal Savings Bank Cease and Desist: James T. Bell
Apr 1, 1998 OCC_OTS Ramsey Financial Corporation Supervisory Agreement: Ramsey Bank
Apr 1, 1998 OCC_OTS Ramsey Financial Corporation Supervisory Agreement: Ramsey Bank
Mar 31, 1998 OCC_OTS American Eagle Savings Bank Civil Money Penalty: American Eagle SB, PaSA
Mar 25, 1998 FRB Habib Bank Ag Zurich Civil Money Penalty $15,000: Habib Bank AG Zurich, Switzerland and Habib Bank AG Zurich, …
Mar 24, 1998 OCC_OTS Oak Tree Federal Savings Bank Cease and Desist: Ronald L. Matlock
Mar 19, 1998 OCC_OTS Lochaven Federal Savings and Loan Association Supervisory Agreement: Lochaven Federal Savings and Loan Association
Mar 19, 1998 OCC_OTS Lochaven Federal Savings and Loan Association Supervisory Agreement: Lochaven Federal Savings and Loan Association
Mar 18, 1998 OCC_OTS Keystone Savings & Loan Association Cease and Desist: John Taglianetti
Mar 17, 1998 OCC_OTS First Global Bank Federal Savings Bank Cease and Desist: First Global Bank, FSB
Mar 9, 1998 OCC_OTS Family Bank FSB Civil Money Penalty: LaVaughn T. Goggans
Mar 5, 1998 OCC (individual) Prohibition/Removal Orders: Ferguson, Carlos
Mar 4, 1998 FRB Pan American Bank of Miami Cease and Desist Order: The Pan American Bank, Miami, FL
Feb 27, 1998 OCC_OTS Oak Tree Federal Savings Bank Cease and Desist: Robert D. McCutcheon
Feb 27, 1998 OCC (individual) Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Nazar, Salem E.
Feb 27, 1998 OCC (individual) Civil Money Penalty (CMP): Nazar, Salem E.

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