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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
Oct 31, 1998 Mountain Financial Holding Company CO Val Cor Bancorporation, Inc.
Oct 31, 1998 Highland Bank AL Cadence Bank
Oct 31, 1998 QFC Federal Credit Union WA Fred Meyer Employees Federal Credit Union
Oct 31, 1998 Alabama Bancorp AL Bancorpsouth, Inc.
Oct 31, 1998 First Citizens Bank of Monroe County AL Superior Bank
Oct 31, 1998 City National Corporation AL The Banc Corporation
Oct 31, 1998 State Bank of Noel MO Bank of Bentonville
Oct 31, 1998 First of America Bank-Illinois, National Association IL National City Bank of the Midwest
Oct 31, 1998 Tri-County National Bank KS Peoples National Bank
Oct 31, 1998 Mountain National Bank CO Vectra Bank Colorado, National Association
Oct 31, 1998 First Community Bank of The South AL Cadence Bank
Oct 31, 1998 The Peoples Building and Loan Company OH Peoples Community Bank
Oct 31, 1998 The City National Bank of Sylacauga AL Superior Bank
Oct 30, 1998 SecurityBank Texas TX SouthTrust Bank
Oct 30, 1998 Simmons Dallas Credit Union TX A New Direction Credit Union
Oct 30, 1998 First Financial Bancorp, Inc. IL Blackhawk Bancorp, Inc.
Oct 30, 1998 Realty and Mortgage Investors of the Pacific, Ltd. HI Bank of Hawaii
Oct 30, 1998 Lemars Bancorporation, Inc. IA Primebank, Inc.
Oct 30, 1998 Bank of Gallatin/First State Bank MO BTC Bank
Oct 29, 1998 First Bank of Florida FL Republic Security Bank
Oct 24, 1998 Compass Bank TX BBVA USA
Oct 24, 1998 The First State Bank of Casselton ND Wells Fargo Bank North Dakota, National Association
Oct 24, 1998 First National Bank of Valley City ND Wells Fargo Bank North Dakota, National Association
Oct 24, 1998 Johnson Bank, National Association WI Johnson Bank
Oct 24, 1998 The First National Bank of Castle Rock CO The First National Bank of Strasburg
Oct 24, 1998 Bank of Los Angeles CA Santa Monica Bank
Oct 24, 1998 Missouri Southern Bank MO Wood & Huston Bank
Oct 24, 1998 Litchville State Bank ND Wells Fargo Bank North Dakota, National Association
Oct 24, 1998 Heritage Bank IL First Midwest Bank
Oct 24, 1998 First Federal Savings Bank of Kent OH Firstmerit Bank, National Association
Oct 24, 1998 Security Federal Savings and Loan Association of Cleveland OH Firstmerit Bank, National Association
Oct 24, 1998 The Peoples National Bank of Rural Valley PA Promistar Bank
Oct 23, 1998 McDonald & Company Investments, Inc. OH KeyCorp
Oct 23, 1998 Benton State Bank AR Regions Bank
Oct 23, 1998 The Citizens National Bank of Tell City IN Old National Bank
Oct 23, 1998 Citizens First Bank AR Regions Bank
Oct 23, 1998 Citizens First Bank AR Regions Bank
Oct 23, 1998 Security Bank and Trust Co. IL Old National Bank
Oct 23, 1998 Arkansas Bank and Trust Company AR Regions Bank
Oct 22, 1998 Corry Savings Bank PA Northwest Bank
Oct 19, 1998 Corestates Bank of Delaware, N.A. DE Wachovia Bank of Delaware, National Association
Oct 19, 1998 Colonial Bank of South Carolina, Inc. SC Carolina First Bank
Oct 19, 1998 Gen Office & Lab. (G.O.A.L.) Employees Federal Credit Union NY Sunmark Credit Union
Oct 17, 1998 Lincolnland Bank IN Integra Bank N.A.
Oct 17, 1998 Wayne Bancorp, Inc. NJ Valley National Bancorp
Oct 17, 1998 Maple Park Bancshares, Inc. IL Old Second Bancorp, Inc.
Oct 17, 1998 Bank of Columbia, National Association SC The Anchor Bank
Oct 17, 1998 Warrior Capital Corporation AL The Banc Corporation
Oct 17, 1998 MidAmerica Bank MN Wells Fargo Bank Minnesota, National Association
Oct 17, 1998 CS Financial Corporation OH 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

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