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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 31, 1998 Sedalia Computer Services, Inc. MO The Union Savings Bank
Dec 31, 1998 Southwest National Corporation PA First Commonwealth Financial Corporation
Dec 31, 1998 The Trust Company MO Gold Trust Company
Dec 31, 1998 Conrad Bancorporation IA Central Iowa Bancorporation, Inc.
Dec 31, 1998 Bank of Vancouver WA West Coast Bank
Dec 31, 1998 Evergreen Bancorp, Inc. NY Banknorth Group, Inc.
Dec 31, 1998 Langdon Bank Holding Company ND Walhalla Bank Holding Company
Dec 31, 1998 Paola - Citizens Bancshares, Inc. KS Citizens State Bank
Dec 31, 1998 Citizens Bank of Southern Indiana IN Fifth Third Bank, Indiana
Dec 31, 1998 Citizen's Trust Company of Indiana, N.A. IN Fifth Third Bank, Indiana
Dec 31, 1998 The Brown Bank GA FLAG Bank
Dec 31, 1998 Exchange Bancshares, Inc. OK Skiatook Bancshares, Inc.
Dec 31, 1998 Centennial Bank WA West Coast Bank
Dec 31, 1998 Cornerstone Northwest Mortgage, Inc. WA Pacific Northwest Bank
Dec 31, 1998 Horizon Bancorp, Inc. WV City Holding Company
Dec 31, 1998 Pacific Capital Bancorp CA Pacific Capital Bancorp
Dec 31, 1998 Citizens Bank of Kentucky KY Fifth Third Bank, Indiana
Dec 31, 1998 The Citizens National Bank of Evansville IN Fifth Third Bank, Indiana
Dec 31, 1998 North American Trust Company CA City National Bank
Dec 31, 1998 Lanco Credit Union AL Azalea City Credit Union
Dec 31, 1998 Saint James Bancorporation, Inc. LA Regions Financial Corporation
Dec 31, 1998 Southeast Bancorp, Inc. KY Union Planters Holding Corporation
Dec 31, 1998 Laplace Bancshares, Inc. LA Union Planters Holding Corporation
Dec 31, 1998 Industrial Bank CA Washington Mutual Bank
Dec 31, 1998 Citizens Bank of Central Indiana IN Fifth Third Bank, Indiana
Dec 31, 1998 Community Trust Bank of West Virginia, National Association WV Community Trust Bank, Inc.
Dec 31, 1998 Community Bank of Naples, N.A. FL First Gulf Bank, N.A.
Dec 31, 1998 The Commercial Bank OR West Coast Bank
Dec 31, 1998 Citizens Bank of Illinois, National Association IL Fifth Third Bank, Indiana
Dec 31, 1998 FSB, Inc. TN Union Planters Holding Corporation
Dec 31, 1998 Citizens Bank of Western Indiana IN Fifth Third Bank, Indiana
Dec 31, 1998 PNB Financial Group CA Western Bancorp
Dec 31, 1998 Allegiant Mortgage Company MO Allegiant Bank
Dec 31, 1998 Providence Federal Credit Union OH Faith Community United Credit Union Inc.
Dec 30, 1998 First Community Bank-FCB MO First Community Bank
Dec 30, 1998 Plainview National Bank NE Midwest Bank
Dec 30, 1998 The American National Bank of Creighton NE Midwest Bank
Dec 30, 1998 Garwin Bancorporation IA Lincoln Bancorp
Dec 30, 1998 Greene Bancorporation IA Lincoln Bancorp
Dec 30, 1998 The Nebraska Security Bank NE Midwest Bank
Dec 30, 1998 The Farmers National Bank in Pilger NE Midwest Bank
Dec 29, 1998 Northern Illinois Bancorp, Inc. IL First American Bank Corporation
Dec 29, 1998 First Security Bank of Belgrade MT First Security Bank
Dec 29, 1998 Banc One Indiana Corporation IN Bank One Corporation
Dec 29, 1998 Employees of Imperial Federal Credit Union NY GP Community Federal Credit Union
Dec 28, 1998 The Century National Bank and Trust Company PA Sky Bank
Dec 24, 1998 Monarch Bank, FSB NJ Provident Bank
Dec 24, 1998 Belmont Associates, Inc. MA Provident Bank
Dec 22, 1998 American Coil Spring Employees Federal Credit Union MI Service 1 Federal Credit Union
Dec 22, 1998 Paola-Citizens Investment Company, Inc. KS Citizens State Bank

The list holds 500 of the 1,286 mergers recorded for 1998.

Enforcement Actions in 1998

Action date Agency Institution Action
Feb 19, 1998 OCC_OTS Oak Tree Federal Savings Bank Cease and Desist: John W. Swinford, Jr.
Feb 18, 1998 OCC_OTS Family Bank FSB Civil Money Penalty: Wallace O. Ewers
Feb 18, 1998 OCC_OTS Family Bank FSB Civil Money Penalty: Stephen Matthew Short
Feb 18, 1998 OCC_OTS Family Bank FSB Civil Money Penalty: Homer Short
Feb 17, 1998 OCC The First National Bank of McClusky Formal Agreement: The First National Bank Of McClusky
Feb 4, 1998 FRB (individual) Cease and Desist Order: Towne Bank, Perrysburg, OH
Feb 3, 1998 OCC_OTS First Home Bank Cease and Desist: Lori Plemmons
Feb 3, 1998 FRB TrustCo Bank New York Civil Money Penalty $40,000: John E. Colley
Feb 3, 1998 FRB (individual) Prohibition from Banking: Michael A. Lindahl
Feb 2, 1998 FRB First American Bankshares, Inc. Cease and Desist Order: Clark M. Clifford
Feb 2, 1998 OCC Banco Nacional, N.A. Prohibition/Removal Orders: Alegria, Jose E.
Feb 2, 1998 OCC First Suburban National Bank Civil Money Penalty (CMP): First Suburban National Bank
Feb 2, 1998 OCC Banco Nacional, N.A. Civil Money Penalty (CMP): Alegria, Jose E.
Feb 2, 1998 FRB Credit Bank Cease and Desist Order: Robert A. Altman
Feb 2, 1998 FRB (individual) Prohibition from Banking: Michael Wachs
Feb 2, 1998 FRB Credit Bank Prohibition from Banking: Robert A. Altman
Feb 2, 1998 FRB First Western Bancorp, Inc. Prohibition from Banking: Stephen R. Koury
Jan 30, 1998 OCC Capital Bank, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Rozenblum, Horacio Bernardo
Jan 30, 1998 OCC (individual) Civil Money Penalty (CMP): Rozenblum, Horacio Bernardo
Jan 29, 1998 OCC_OTS Stamford Federal Savings Bank Orders of Removal/Prohibition: Marie S. Legagneur
Jan 28, 1998 OCC The First National Bank of Port Allegany Formal Agreement: The First National Bank Of Port Allegany
Jan 26, 1998 OCC Park National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Luczak, Marianne
Jan 26, 1998 OCC Park National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Roggeman, Alfred
Jan 26, 1998 OCC Park National Bank Civil Money Penalty (CMP): Bernstein, Sheldon
Jan 26, 1998 OCC Park National Bank Civil Money Penalty (CMP): Roggeman, Alfred
Jan 26, 1998 OCC Park National Bank Civil Money Penalty (CMP): Luczak, Marianne
Jan 26, 1998 OCC NBD Leasing, Inc. Prohibition/Removal Orders: Howard, Stacey M.
Jan 26, 1998 OCC Park National Bank Civil Money Penalty (CMP): Mills, Robert
Jan 22, 1998 OCC Duncanville National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Duncanville National Bank
Jan 21, 1998 OCC_OTS Sovereign Bancorp, Inc. Cease and Desist: Charlotte R. Alexander
Jan 20, 1998 OCC_OTS Greater Atlantic Bank Cease and Desist: Clifton G. Clark
Jan 20, 1998 OCC_OTS Greater Atlantic Bank Civil Money Penalty: Clifton G. Clark
Jan 8, 1998 OCC Banco do Estado Do Parana S.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Banco Do Estado Do Parana S.A.
Jan 8, 1998 OCC_OTS (individual) Cease and Desist: Janet D. Black
Jan 6, 1998 OCC_OTS United Savings Association of Texas Cease and Desist: Aaron L. Weston
Jan 6, 1998 OCC Norwest Bank Arizona, National Association Prohibition/Removal Orders: Hernandez, Alta L.
Jan 5, 1998 OCC_OTS The Dime Savings Bank of New York, FSB Orders of Removal/Prohibition: Kenneth Ralph Enos

Browse adjacent years: 1997 · 1999

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