Skip to main content

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
Oct 31, 1998 Mountain Financial Holding Company CO Val Cor Bancorporation, Inc.
Oct 31, 1998 Highland Bank AL Cadence Bank
Oct 31, 1998 QFC Federal Credit Union WA Fred Meyer Employees Federal Credit Union
Oct 31, 1998 Alabama Bancorp AL Bancorpsouth, Inc.
Oct 31, 1998 First Citizens Bank of Monroe County AL Superior Bank
Oct 31, 1998 City National Corporation AL The Banc Corporation
Oct 31, 1998 State Bank of Noel MO Bank of Bentonville
Oct 31, 1998 First of America Bank-Illinois, National Association IL National City Bank of the Midwest
Oct 31, 1998 Tri-County National Bank KS Peoples National Bank
Oct 31, 1998 Mountain National Bank CO Vectra Bank Colorado, National Association
Oct 31, 1998 First Community Bank of The South AL Cadence Bank
Oct 31, 1998 The Peoples Building and Loan Company OH Peoples Community Bank
Oct 31, 1998 The City National Bank of Sylacauga AL Superior Bank
Oct 30, 1998 SecurityBank Texas TX SouthTrust Bank
Oct 30, 1998 Simmons Dallas Credit Union TX A New Direction Credit Union
Oct 30, 1998 First Financial Bancorp, Inc. IL Blackhawk Bancorp, Inc.
Oct 30, 1998 Realty and Mortgage Investors of the Pacific, Ltd. HI Bank of Hawaii
Oct 30, 1998 Lemars Bancorporation, Inc. IA Primebank, Inc.
Oct 30, 1998 Bank of Gallatin/First State Bank MO BTC Bank
Oct 29, 1998 First Bank of Florida FL Republic Security Bank
Oct 24, 1998 Compass Bank TX BBVA USA
Oct 24, 1998 The First State Bank of Casselton ND Wells Fargo Bank North Dakota, National Association
Oct 24, 1998 First National Bank of Valley City ND Wells Fargo Bank North Dakota, National Association
Oct 24, 1998 Johnson Bank, National Association WI Johnson Bank
Oct 24, 1998 The First National Bank of Castle Rock CO The First National Bank of Strasburg
Oct 24, 1998 Bank of Los Angeles CA Santa Monica Bank
Oct 24, 1998 Missouri Southern Bank MO Wood & Huston Bank
Oct 24, 1998 Litchville State Bank ND Wells Fargo Bank North Dakota, National Association
Oct 24, 1998 Heritage Bank IL First Midwest Bank
Oct 24, 1998 First Federal Savings Bank of Kent OH Firstmerit Bank, National Association
Oct 24, 1998 Security Federal Savings and Loan Association of Cleveland OH Firstmerit Bank, National Association
Oct 24, 1998 The Peoples National Bank of Rural Valley PA Promistar Bank
Oct 23, 1998 McDonald & Company Investments, Inc. OH KeyCorp
Oct 23, 1998 Benton State Bank AR Regions Bank
Oct 23, 1998 The Citizens National Bank of Tell City IN Old National Bank
Oct 23, 1998 Citizens First Bank AR Regions Bank
Oct 23, 1998 Citizens First Bank AR Regions Bank
Oct 23, 1998 Security Bank and Trust Co. IL Old National Bank
Oct 23, 1998 Arkansas Bank and Trust Company AR Regions Bank
Oct 22, 1998 Corry Savings Bank PA Northwest Bank
Oct 19, 1998 Corestates Bank of Delaware, N.A. DE Wachovia Bank of Delaware, National Association
Oct 19, 1998 Colonial Bank of South Carolina, Inc. SC Carolina First Bank
Oct 19, 1998 Gen Office & Lab. (G.O.A.L.) Employees Federal Credit Union NY Sunmark Credit Union
Oct 17, 1998 Lincolnland Bank IN Integra Bank N.A.
Oct 17, 1998 Wayne Bancorp, Inc. NJ Valley National Bancorp
Oct 17, 1998 Maple Park Bancshares, Inc. IL Old Second Bancorp, Inc.
Oct 17, 1998 Bank of Columbia, National Association SC The Anchor Bank
Oct 17, 1998 Warrior Capital Corporation AL The Banc Corporation
Oct 17, 1998 MidAmerica Bank MN Wells Fargo Bank Minnesota, National Association
Oct 17, 1998 CS Financial Corporation OH 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.

Browse adjacent years: 1997 · 1999

Or jump to a category: Failures · Mergers · Enforcement · Assistance