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.
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 | Acquirer |
|---|---|---|
| Oct 17, 1998 | Fed One Bank | United Bank |
| Oct 17, 1998 | Midamerica Bank South | Norwest Bank Minnesota South, National Association |
| Oct 17, 1998 | Cuyahoga Savings Association | Charter One Bank, National Association |
| Oct 17, 1998 | Bank of Charleston, National Association | The Anchor Bank |
| Oct 17, 1998 | The Commercial Bank of Roanoke, Alabama | Superior Bank |
| Oct 17, 1998 | Wayne Savings Bank, F.S.B. | Valley National Bank |
| Oct 17, 1998 | Commercial Bancshares of Roanoke, Inc. | The Banc Corporation |
| Oct 16, 1998 | First National Bank of Port Orchard | Pacific Northwest Bank |
| Oct 16, 1998 | First Citizens Bank & Trust Company | First-Citizens Bank & Trust Company |
| Oct 16, 1998 | Exchange National Bank and Trust Company | BancFirst |
| Oct 15, 1998 | Azle Holdings, Inc. | Independent Bankshares, Inc. |
| Oct 15, 1998 | Azle Bancorp | Independent Bankshares, Inc. |
| Oct 14, 1998 | South Valley National Bank | First National Bank of Central California |
| Oct 14, 1998 | Interwest Bancorp | The Colonial Bancgroup, Inc. |
| Oct 14, 1998 | Interwest Bank | Colonial Bank |
| Oct 13, 1998 | Gettysburg Area Federal Credit Union | Belco Community Credit Union |
| Oct 10, 1998 | Silsbee State Bank | Community Bank & Trust, S.S.B. |
| Oct 9, 1998 | Seminole Bank, National Association | First National Bank of Florida |
| Oct 9, 1998 | Community Bank of the Islands | Bank of America, N.A. |
| Oct 9, 1998 | Omni Bank | The Bank of Edwardsville |
| Oct 9, 1998 | The First National Bank of Conway | Regions Bank |
| Oct 9, 1998 | First National Bank of Russellville | Regions Bank |
| Oct 9, 1998 | Barnett Bank, National Association | Bank of America, N.A. |
| Oct 9, 1998 | Morrilton Security Bank, National Association | Regions Bank |
| Oct 9, 1998 | Citizens Bank & Trust | First National Bank of Florida |
| Oct 9, 1998 | Clinton State Bank | Regions Bank |
| Oct 9, 1998 | Citizens Bank | Local Oklahoma Bank |
| Oct 9, 1998 | Magna Bank, National Association | Union Planters Bank, National Association |
| Oct 8, 1998 | Banksouth Corp | Citizens Bank |
| Oct 7, 1998 | Prime Bank of Central Florida | Colonial Bank |
| Oct 6, 1998 | Cylinder Bancorporation | Iowa Trust & Savings Bank |
| Oct 6, 1998 | Cylinder State Bank | Iowa Trust & Savings Bank |
| Oct 4, 1998 | Home Savings of America, FSB | Washington Mutual Bank |
| Oct 3, 1998 | Lilly Industries Federal Credit Union | Indiana Members Credit Union |
| Oct 3, 1998 | Concora Anderson Employees Federal Credit Union | Indiana Members Credit Union |
| Oct 2, 1998 | Community Financial Corporation | Alabama National Bancorporation |
| Oct 2, 1998 | Mid Am, Inc. | SKY Financial Group, Inc. |
| Oct 2, 1998 | First Chicago NBD Corporation | Bank One Corporation |
| Oct 2, 1998 | First Macon Bank & Trust Company | Colonial Bank |
| Oct 1, 1998 | Peoples Trust of 1987 | Winter Trust of 12/3/74 |
| Oct 1, 1998 | Morgan Stanley Trust Company | JPMorgan Chase Bank, N.A. |
| Oct 1, 1998 | First Evergreen Corporation | Old Kent Financial Corporation |
| Oct 1, 1998 | Atlanta Cooperative Credit Association Credit Union | Associated Credit Union |
| Oct 1, 1998 | 1st Bancorp Vienna | Integra Bank Corporation |
| Oct 1, 1998 | Prairie Bankshares, Inc. | Citizens Bank of Kansas |
| Oct 1, 1998 | Swift Credit Union | Five Star Credit Union |
| Oct 1, 1998 | Citizens Bancorporation, Inc. | Suntrust Bank Holding Company |
| Oct 1, 1998 | The Long Island Savings Bank, FSB | Astoria Bank |
| Oct 1, 1998 | Nypoe Federal Credit Union | Picatinny Federal Credit Union |
| Oct 1, 1998 | State Bank of South Orange | United Trust 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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