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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 8, 1998 American Bancshares of Arkansas, Inc. AR Simmons First National Corporation
Dec 8, 1998 West Texas National Bancshares, Inc. TX South Plains Financial, Inc.
Dec 8, 1998 Lockney Holding Company DE South Plains Financial, Inc.
Dec 7, 1998 McNeil-Ortho Employees Federal Credit Union PR Financial Resources Federal Credit Union
Dec 5, 1998 Merchants Capital Corporation MS Bancorpsouth, Inc.
Dec 5, 1998 The First National Bank of Greenville AL Whitney National Bank
Dec 5, 1998 Merchants Bank MS Cadence Bank
Dec 5, 1998 Nisswa State Bank MN Lakewood Bank, National Association
Dec 5, 1998 The Federal Savings Bank MA USTrust
Dec 5, 1998 Jasper County Federal Employees Credit Union IA First Class Community Credit Union
Dec 5, 1998 American Community Bank, National Association OH SKY Bank
Dec 5, 1998 The Sandwich Co-operative Bank MA Compass Bank for Savings
Dec 5, 1998 Amerifirst Bank, National Association OH SKY Bank
Dec 5, 1998 The Bank of Gwinnett County GA Premier Bank
Dec 4, 1998 Froid Bankshares, Inc. MT First Community Bancorp, Inc.
Dec 4, 1998 First Bank of Arkansas AR Regions Bank
Dec 2, 1998 First State Bank TX Vista Bank
Dec 1, 1998 Stone 360 Employees Credit Union IL Alero Financial Credit Union
Dec 1, 1998 Texas Bank and Trust TX Colonial Bank
Dec 1, 1998 Bank of Georgia GA AFB&T
Dec 1, 1998 Bank of Lyons IL BankChicago
Dec 1, 1998 TB&T, Inc. TX The Colonial Bancgroup, Inc.
Dec 1, 1998 Citizens Building, Inc. KS Citizens State Bank
Dec 1, 1998 Local America Bank of Tulsa, A Federal Savings Bank OK Local Oklahoma Bank
Dec 1, 1998 Downey Bancorp CA California Financial Bancorp
Dec 1, 1998 Kingfisher Bancorp, Inc. OK BancFirst Corporation
Dec 1, 1998 Davis Standard Employees Credit Union CT Connecticut Community Credit Union, Inc.
Dec 1, 1998 Monocacy Bancshares, Inc. MD F&M Bancorp
Dec 1, 1998 United Community Bankshares, Inc. VA Atlantic Financial Corp.
Dec 1, 1998 TNB Bancorporation, Inc. TX Texas Financial Bancorporation, Inc.
Dec 1, 1998 Progressive Bancshares, Inc. KY Integra Bank Corporation
Dec 1, 1998 Gore-Bronson Bancorp, Inc. IL Popular North America, Inc.
Dec 1, 1998 Davis Employees Credit Association Credit Union GA Alero Financial Credit Union
Dec 1, 1998 TNB Bancorporation of Delaware, Inc. DE Delaware Financial, Inc.
Dec 1, 1998 Culligan USA Employees Credit Union IL Alero Financial Credit Union
Dec 1, 1998 Citizens Banco, Inc. CO Val Cor Bancorporation, Inc.
Dec 1, 1998 Imperial Bank Arizona AZ Imperial Bank
Dec 1, 1998 Midpac Employees Federal Credit Union HI Hawaii Federal Credit Union
Dec 1, 1998 Citizens Bank CO Vectra Bank Colorado, National Association
Dec 1, 1998 Taneytown Bank & Trust Company MD Farmers & Mechanics Bank
Dec 1, 1998 GCMC Cu TX Texasgulf Federal Credit Union
Dec 1, 1998 Johnson Products Company Incorporated Employees Federal Credi T Union IL Vicinity Credit Union
Dec 1, 1998 NW Drug Employees Credit Union MN Anoka Hennepin Credit Union
Dec 1, 1998 East Austin Community Naacp Federal Credit Union TX Greater Texas Federal Credit Union
Dec 1, 1998 Hillsboro Community Credit Union IL Taylorville Community Credit Union
Dec 1, 1998 Albank, FSB NY Charter One Bank, National Association
Nov 30, 1998 Biltmore Bank Corp. AZ Johnson Financial Group, Inc.
Nov 30, 1998 Bank of Ladd IL North Central Bank
Nov 30, 1998 Worcester Municipal Employees Federal Credit Union MA Worcester Credit Union
Nov 30, 1998 Albank Financial Corporation NY 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
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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