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 8, 1998 American Bancshares of Arkansas, Inc. AR Simmons First National Corporation
Dec 8, 1998 West Texas National Bancshares, Inc. TX South Plains Financial, Inc.
Dec 8, 1998 Lockney Holding Company DE South Plains Financial, Inc.
Dec 7, 1998 McNeil-Ortho Employees Federal Credit Union PR Financial Resources Federal Credit Union
Dec 5, 1998 Merchants Capital Corporation MS Bancorpsouth, Inc.
Dec 5, 1998 The First National Bank of Greenville AL Whitney National Bank
Dec 5, 1998 Merchants Bank MS Cadence Bank
Dec 5, 1998 Nisswa State Bank MN Lakewood Bank, National Association
Dec 5, 1998 The Federal Savings Bank MA USTrust
Dec 5, 1998 Jasper County Federal Employees Credit Union IA First Class Community Credit Union
Dec 5, 1998 American Community Bank, National Association OH SKY Bank
Dec 5, 1998 The Sandwich Co-operative Bank MA Compass Bank for Savings
Dec 5, 1998 Amerifirst Bank, National Association OH SKY Bank
Dec 5, 1998 The Bank of Gwinnett County GA Premier Bank
Dec 4, 1998 Froid Bankshares, Inc. MT First Community Bancorp, Inc.
Dec 4, 1998 First Bank of Arkansas AR Regions Bank
Dec 2, 1998 First State Bank TX Vista Bank
Dec 1, 1998 Stone 360 Employees Credit Union IL Alero Financial Credit Union
Dec 1, 1998 Texas Bank and Trust TX Colonial Bank
Dec 1, 1998 Bank of Georgia GA AFB&T
Dec 1, 1998 Bank of Lyons IL BankChicago
Dec 1, 1998 TB&T, Inc. TX The Colonial Bancgroup, Inc.
Dec 1, 1998 Citizens Building, Inc. KS Citizens State Bank
Dec 1, 1998 Local America Bank of Tulsa, A Federal Savings Bank OK Local Oklahoma Bank
Dec 1, 1998 Downey Bancorp CA California Financial Bancorp
Dec 1, 1998 Kingfisher Bancorp, Inc. OK BancFirst Corporation
Dec 1, 1998 Davis Standard Employees Credit Union CT Connecticut Community Credit Union, Inc.
Dec 1, 1998 Monocacy Bancshares, Inc. MD F&M Bancorp
Dec 1, 1998 United Community Bankshares, Inc. VA Atlantic Financial Corp.
Dec 1, 1998 TNB Bancorporation, Inc. TX Texas Financial Bancorporation, Inc.
Dec 1, 1998 Progressive Bancshares, Inc. KY Integra Bank Corporation
Dec 1, 1998 Gore-Bronson Bancorp, Inc. IL Popular North America, Inc.
Dec 1, 1998 Davis Employees Credit Association Credit Union GA Alero Financial Credit Union
Dec 1, 1998 TNB Bancorporation of Delaware, Inc. DE Delaware Financial, Inc.
Dec 1, 1998 Culligan USA Employees Credit Union IL Alero Financial Credit Union
Dec 1, 1998 Citizens Banco, Inc. CO Val Cor Bancorporation, Inc.
Dec 1, 1998 Imperial Bank Arizona AZ Imperial Bank
Dec 1, 1998 Midpac Employees Federal Credit Union HI Hawaii Federal Credit Union
Dec 1, 1998 Citizens Bank CO Vectra Bank Colorado, National Association
Dec 1, 1998 Taneytown Bank & Trust Company MD Farmers & Mechanics Bank
Dec 1, 1998 GCMC Cu TX Texasgulf Federal Credit Union
Dec 1, 1998 Johnson Products Company Incorporated Employees Federal Credi T Union IL Vicinity Credit Union
Dec 1, 1998 NW Drug Employees Credit Union MN Anoka Hennepin Credit Union
Dec 1, 1998 East Austin Community Naacp Federal Credit Union TX Greater Texas Federal Credit Union
Dec 1, 1998 Hillsboro Community Credit Union IL Taylorville Community Credit Union
Dec 1, 1998 Albank, FSB NY Charter One Bank, National Association
Nov 30, 1998 Biltmore Bank Corp. AZ Johnson Financial Group, Inc.
Nov 30, 1998 Bank of Ladd IL North Central Bank
Nov 30, 1998 Worcester Municipal Employees Federal Credit Union MA Worcester Credit Union
Nov 30, 1998 Albank Financial Corporation NY 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
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