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
Dec 21, 1998 Bank of Sumner WA Frontier Bank
Dec 21, 1998 Valley Community Bancorp OR Columbia Bancorp
Dec 21, 1998 Valley Bancorporation WA Frontier Financial Corporation
Dec 21, 1998 (unnamed) — First Security Bank of California, N.A.
Dec 19, 1998 Bank of Colorado-Front Range CO Bank of Colorado
Dec 19, 1998 Citizens Bankshares, Inc. WI Associated Banc-Corp
Dec 19, 1998 First Tennessee Bank National Association Mississippi MS First Horizon Bank
Dec 19, 1998 Pulse Savings Bank NJ First Savings Bank
Dec 19, 1998 Associated Banc-Shares, Inc. WI Associated Bank South Central
Dec 18, 1998 New England Joint Board Federal Credit Union MA Metro Credit Union
Dec 18, 1998 First Southern National Bank of Wayne County KY First Southern National Bank
Dec 18, 1998 First Federal Lincoln Bank-Iowa IA Tierone Bank
Dec 18, 1998 First Southern National Bank of the Bluegrass KY First Southern National Bank
Dec 18, 1998 First Southern National Bank of Madison County KY First Southern National Bank
Dec 18, 1998 First Southern National Bank KY First Southern National Bank
Dec 18, 1998 Lakewood State Bank CO Union Bank & Trust
Dec 18, 1998 The Marine Bank VA Farmers & Merchants Bank - Eastern Shore
Dec 17, 1998 Remshave Federal Credit Union CT Sikorsky Financial Credit Union, Inc.
Dec 16, 1998 Home Bancorp of Elgin, Inc. IL State Financial Services Corporation
Dec 16, 1998 Telluride Bancorp, Ltd. CO Vail Banks, Inc.
Dec 16, 1998 Bryan Bancorp of Georgia, Inc. GA The Savannah Bancorp, Inc.
Dec 16, 1998 Susquehanna Bancshares West,inc PA Susquehanna Bancshares West,inc
Dec 15, 1998 Northwest Bancshares, Inc. WA U.S. Bancorp
Dec 14, 1998 VBH Corp. IL Merchants Bancorp, Inc.
Dec 14, 1998 Valley Banc Services Corp. IL Merchants Bancorp, Inc.
Dec 14, 1998 Peoples State Bancshares, Inc. AL Peoples State Group, Inc.
Dec 14, 1998 Fox Valley Bank IL The Merchants National Bank of Aurora
Dec 14, 1998 Hinckley State Bank IL The Merchants National Bank of Aurora
Dec 12, 1998 Mercantile Bank of Southeast Missouri MO Firstar Bank Missouri, National Association
Dec 12, 1998 (unnamed) — Firstar Bank Missouri, National Association
Dec 12, 1998 Mercantile Bank of Central Missouri MO Firstar Bank Missouri, National Association
Dec 12, 1998 First National Bank of Evergreen Park IL Fifth Third Bank
Dec 12, 1998 Mercantile Bank of South Central Missouri MO Firstar Bank Missouri, National Association
Dec 12, 1998 Comerica Bank & Trust, Federal Savings Bank FL Comerica Bank
Dec 12, 1998 Jefferson National Bank TX VeraBank, N.A.
Dec 12, 1998 Mercantile Bank of Northern Missouri MO Firstar Bank Missouri, National Association
Dec 12, 1998 Mercantile Bank of Missouri Valley MO Firstar Bank Missouri, National Association
Dec 12, 1998 Newberry Bank FL Republic Security Bank
Dec 12, 1998 Mercantile Bank of Western Missouri MO Firstar Bank Missouri, National Association
Dec 11, 1998 Farmers Bank, National Association KY Old National Bank
Dec 11, 1998 First American Bank of Indian River County FL SouthTrust Bank
Dec 11, 1998 Bank of Crittenden KY Community First Bank of Kentucky
Dec 11, 1998 Empire Bank Corp. GA Flag Financial Corporation
Dec 10, 1998 Eagle Bancorp, Inc. GA Pab Bankshares, Inc.
Dec 10, 1998 Quinter Insurance Service, Inc. KS First National Bancshares, Inc.
Dec 10, 1998 Citizens Bancorporation, Inc. OK Gold Banc Corporation, Inc.
Dec 10, 1998 SC Bancorp, Inc. AZ Founders Group, Inc.
Dec 10, 1998 Security Financial Corp of Fredericksburg TX Security Holding Company
Dec 10, 1998 The First National Bank of Quinter KS FNB Bank
Dec 8, 1998 First Alpine, Inc. TX First Pecos Bancshares, Inc.

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

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