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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
Nov 25, 1998 The Sun City Bank AZ Founders Bank of Arizona
Nov 25, 1998 Oneida Valley Bancshares, Inc. NY Alliance Financial Corporation
Nov 24, 1998 Georgia National Bancorp, Inc. GA Southtrust Corporation
Nov 24, 1998 Georgia National Bank GA SouthTrust Bank
Nov 24, 1998 Fidelity State Bank KS Commerce Bank, National Association
Nov 23, 1998 Hinton Financial Corporation WV City Holding Company
Nov 21, 1998 NSS Bancorp, Inc. CT Summit Bancorp.
Nov 21, 1998 North Pacific Bank WA Heritage Bank
Nov 21, 1998 First National Bank of Warsaw IN National City Bank of Indiana
Nov 21, 1998 Security Savings Association OH Enterprise Federal Savings Bank
Nov 21, 1998 The Commercial and Savings Bank Company OH The Killbuck Savings Bank Company
Nov 21, 1998 Valley American Bank and Trust Company IN National City Bank of Indiana
Nov 21, 1998 Old-First National Bank in Bluffton, Bluffton, Indiana IN National City Bank of Indiana
Nov 21, 1998 First National Bank of Huntington IN National City Bank of Indiana
Nov 21, 1998 Fort Wayne National Bank IN National City Bank of Indiana
Nov 21, 1998 Churubusco State Bank IN National City Bank of Indiana
Nov 21, 1998 The Bank of New Mexico NM Wells Fargo Bank New Mexico, National Association
Nov 21, 1998 Bank of Arizona AZ Wells Fargo Bank Arizona, National Association
Nov 21, 1998 First National South SC The Anchor Bank
Nov 21, 1998 Hometown Bancshares, Inc. TX Sterling Bancorporation, LLC
Nov 21, 1998 First State Bank of Higginsville/Odessa MO Central Bank of Warrensburg
Nov 21, 1998 The Auburn State Bank IN National City Bank of Indiana
Nov 20, 1998 Springhill Bank & Trust Company LA Regions Bank
Nov 20, 1998 First National Bank AR Regions Bank
Nov 20, 1998 Capital Bank, National Association MD FCNB Bank
Nov 20, 1998 Pioneer Bancshares, Inc. TN First American Corporation
Nov 20, 1998 Trumbull Savings and Loan Company OH The Second National Bank of Warren
Nov 20, 1998 Star Banc Corporation OH Firstar Holdings Corporation
Nov 20, 1998 Valley Bank TN First American National Bank
Nov 20, 1998 The First National Bank of Nashville AR Regions Bank
Nov 20, 1998 Pioneer Bank TN First American National Bank
Nov 20, 1998 Farmers State Bank of McNabb IL First State Bank
Nov 17, 1998 Amsterdam Federal Bank NY Mohawk Community Bank
Nov 16, 1998 Central Bank LA Bank One, Louisiana, National Association
Nov 16, 1998 City National Bank of Baton Rouge LA Bank One Trust Company, N.A.
Nov 16, 1998 Louisiana Banc One Corporation LA Bank One Corporation
Nov 16, 1998 First National Bank of Commerce LA Bank One, Louisiana, National Association
Nov 16, 1998 First Security Bank of Craig CO Imperial Bank
Nov 16, 1998 The First National Bank of Lafayette LA Bank One, Louisiana, National Association
Nov 16, 1998 The First National Bank of Lake Charles LA Bank One, Louisiana, National Association
Nov 16, 1998 One Valley Bank of Clarksburg, National Association WV One Valley Bank, Inc.
Nov 16, 1998 Rapides Bank & Trust Company in Alexandria LA Bank One, Louisiana, National Association
Nov 15, 1998 Central Company, Inc. LA Louisiana Banc One Corporation
Nov 15, 1998 Baronne Street Properties, Inc. LA Louisiana Banc One Corporation
Nov 15, 1998 Marquis Leasing Company LA Louisiana Banc One Corporation
Nov 15, 1998 First Commerce Service Corporation LA Louisiana Banc One Corporation
Nov 15, 1998 Marquis Insurance Agency, LLC LA Louisiana Banc One Corporation
Nov 15, 1998 First Money, L.L.C. LA Louisiana Banc One Corporation
Nov 14, 1998 First State Bank TX Wells Fargo Bank Texas, National Association
Nov 14, 1998 Dauphin Deposit Bank and Trust Company PA Allfirst 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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