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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 21, 1998 Bank of Sumner WA Frontier Bank
Dec 21, 1998 Valley Community Bancorp OR Columbia Bancorp
Dec 21, 1998 Valley Bancorporation WA Frontier Financial Corporation
Dec 21, 1998 (unnamed) — First Security Bank of California, N.A.
Dec 19, 1998 Bank of Colorado-Front Range CO Bank of Colorado
Dec 19, 1998 Citizens Bankshares, Inc. WI Associated Banc-Corp
Dec 19, 1998 First Tennessee Bank National Association Mississippi MS First Horizon Bank
Dec 19, 1998 Pulse Savings Bank NJ First Savings Bank
Dec 19, 1998 Associated Banc-Shares, Inc. WI Associated Bank South Central
Dec 18, 1998 New England Joint Board Federal Credit Union MA Metro Credit Union
Dec 18, 1998 First Southern National Bank of Wayne County KY First Southern National Bank
Dec 18, 1998 First Federal Lincoln Bank-Iowa IA Tierone Bank
Dec 18, 1998 First Southern National Bank of the Bluegrass KY First Southern National Bank
Dec 18, 1998 First Southern National Bank of Madison County KY First Southern National Bank
Dec 18, 1998 First Southern National Bank KY First Southern National Bank
Dec 18, 1998 Lakewood State Bank CO Union Bank & Trust
Dec 18, 1998 The Marine Bank VA Farmers & Merchants Bank - Eastern Shore
Dec 17, 1998 Remshave Federal Credit Union CT Sikorsky Financial Credit Union, Inc.
Dec 16, 1998 Home Bancorp of Elgin, Inc. IL State Financial Services Corporation
Dec 16, 1998 Telluride Bancorp, Ltd. CO Vail Banks, Inc.
Dec 16, 1998 Bryan Bancorp of Georgia, Inc. GA The Savannah Bancorp, Inc.
Dec 16, 1998 Susquehanna Bancshares West,inc PA Susquehanna Bancshares West,inc
Dec 15, 1998 Northwest Bancshares, Inc. WA U.S. Bancorp
Dec 14, 1998 VBH Corp. IL Merchants Bancorp, Inc.
Dec 14, 1998 Valley Banc Services Corp. IL Merchants Bancorp, Inc.
Dec 14, 1998 Peoples State Bancshares, Inc. AL Peoples State Group, Inc.
Dec 14, 1998 Fox Valley Bank IL The Merchants National Bank of Aurora
Dec 14, 1998 Hinckley State Bank IL The Merchants National Bank of Aurora
Dec 12, 1998 Mercantile Bank of Southeast Missouri MO Firstar Bank Missouri, National Association
Dec 12, 1998 (unnamed) — Firstar Bank Missouri, National Association
Dec 12, 1998 Mercantile Bank of Central Missouri MO Firstar Bank Missouri, National Association
Dec 12, 1998 First National Bank of Evergreen Park IL Fifth Third Bank
Dec 12, 1998 Mercantile Bank of South Central Missouri MO Firstar Bank Missouri, National Association
Dec 12, 1998 Comerica Bank & Trust, Federal Savings Bank FL Comerica Bank
Dec 12, 1998 Jefferson National Bank TX VeraBank, N.A.
Dec 12, 1998 Mercantile Bank of Northern Missouri MO Firstar Bank Missouri, National Association
Dec 12, 1998 Mercantile Bank of Missouri Valley MO Firstar Bank Missouri, National Association
Dec 12, 1998 Newberry Bank FL Republic Security Bank
Dec 12, 1998 Mercantile Bank of Western Missouri MO Firstar Bank Missouri, National Association
Dec 11, 1998 Farmers Bank, National Association KY Old National Bank
Dec 11, 1998 First American Bank of Indian River County FL SouthTrust Bank
Dec 11, 1998 Bank of Crittenden KY Community First Bank of Kentucky
Dec 11, 1998 Empire Bank Corp. GA Flag Financial Corporation
Dec 10, 1998 Eagle Bancorp, Inc. GA Pab Bankshares, Inc.
Dec 10, 1998 Quinter Insurance Service, Inc. KS First National Bancshares, Inc.
Dec 10, 1998 Citizens Bancorporation, Inc. OK Gold Banc Corporation, Inc.
Dec 10, 1998 SC Bancorp, Inc. AZ Founders Group, Inc.
Dec 10, 1998 Security Financial Corp of Fredericksburg TX Security Holding Company
Dec 10, 1998 The First National Bank of Quinter KS FNB Bank
Dec 8, 1998 First Alpine, Inc. TX First Pecos Bancshares, Inc.

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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