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 1, 1998 | Wallula Federal Credit Union | Hapo Community Credit Union |
| Oct 1, 1998 | The Middle Tennessee Bank | First American National Bank |
| Oct 1, 1998 | Toshiba/Houston Credit Union | First Community Credit Union |
| Oct 1, 1998 | Kansas City Community Credit Union | Midwest Regional Credit Union |
| Oct 1, 1998 | Santa Fe West Credit Union | E-Central Credit Union |
| Oct 1, 1998 | Faultless Rubber Federal Credit Union | Ashland Community Federal Credit Union |
| Oct 1, 1998 | Citizens Bank of Marianna | SunTrust Bank, Tallahassee, National Association |
| Oct 1, 1998 | Hoosier Hills Financial Corporation | Integra Bank Corporation |
| Oct 1, 1998 | First Global Bank Federal Savings Bank | Hanmi Bank |
| Oct 1, 1998 | Castle Medical Center Federal Credit Union | Ko'Olau Federal Credit Union |
| Oct 1, 1998 | HP Colorado Federal Credit Union | First Technology Federal Credit Union |
| Oct 1, 1998 | Eagle Valley Bank | Eagle Valley Bank, National Association |
| Oct 1, 1998 | Mrs Smith's Pie Co. Federal Credit Union | Diamond Federal Credit Union |
| Oct 1, 1998 | The State Bank-Pretty Prairie | Citizens Bank of Kansas |
| Oct 1, 1998 | Trailer Builders Credit Union | River Bend Credit Union |
| Oct 1, 1998 | The Sumitomo Bank of California | California Bank & Trust |
| Oct 1, 1998 | The First State Bank of Vienna | Illinois One Bank, National Association |
| Oct 1, 1998 | Oregon Community Credit Union | Membersalliance Credit Union |
| Oct 1, 1998 | Sasf Credit Union | Trans Texas Southwest Credit Union |
| Oct 1, 1998 | Santa Fe Federal Employees Federal Credit Union | Del Norte Credit Union |
| Oct 1, 1998 | Gadsden State Bank | SunTrust Bank, Tallahassee, National Association |
| Oct 1, 1998 | Toole County Federal Credit Union | Bear Paw Credit Union |
| Oct 1, 1998 | The Hight State Bank | Scott State Bank |
| Oct 1, 1998 | Salem Eba Credit Union | Virginia Federal Credit Union |
| Oct 1, 1998 | Peoples, Inc. | Peoples, Inc. |
| Oct 1, 1998 | First National Bank of Sheridan | The Malvern National Bank |
| Oct 1, 1998 | NPC Federal Credit Union | Ridgedale Federal Credit Union |
| Oct 1, 1998 | Cheatham State Bank | First American National Bank |
| Oct 1, 1998 | Union State Bank | Prosperity Bank |
| Oct 1, 1998 | Brooklyn Postal Employees Credit Union | Municipal Credit Union |
| Oct 1, 1998 | Security First Network Bank, FSB | Security First Network Bank |
| Oct 1, 1998 | Inland Steel Credit Union | First Northern Credit Union |
| Oct 1, 1998 | Farmers National Bank | Susquehanna Bank DV |
| Oct 1, 1998 | Natick QM Federal Credit Union | Hanscom Federal Credit Union |
| Oct 1, 1998 | CSB Financial Corporation | First American Corporation |
| Oct 1, 1998 | Amquest Financial Corp. | BancFirst Corporation |
| Oct 1, 1998 | DHCD Federal Credit Union | DC Federal Credit Union |
| Sep 30, 1998 | American Credit Corporation | Firstar Holdings Corporation |
| Sep 30, 1998 | DPC of Milwaukee, Inc. | Firstar Bank Milwaukee, National Association |
| Sep 30, 1998 | Bancorp Pacific, Inc. | Bank of Hawaii |
| Sep 30, 1998 | CSFM Corporation | Firstar Bank Milwaukee, National Association |
| Sep 30, 1998 | Production Experts Employees Credit Union, Inc. | Community United Credit Union |
| Sep 30, 1998 | First Federal Savings and Loan Association of America | Bank of Hawaii |
| Sep 30, 1998 | First National Bank of Pickens County | Carolina First Bank |
| Sep 30, 1998 | Minutemen Credit Union | American Lake Credit Union |
| Sep 30, 1998 | Firstar Trust Company | Firstar Bank Milwaukee, National Association |
| Sep 30, 1998 | Bankamerica Corporation | Bank of America Corporation |
| Sep 28, 1998 | First Financial Bancorporation | Ameribanc, Inc. |
| Sep 28, 1998 | (unnamed) | Wells Fargo Bank Texas, National Association |
| Sep 28, 1998 | (unnamed) | Wells Fargo Bank Texas, National Association |
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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