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 17, 1998 | Fed One Bank | United Bank |
| Oct 17, 1998 | Midamerica Bank South | Norwest Bank Minnesota South, National Association |
| Oct 17, 1998 | Cuyahoga Savings Association | Charter One Bank, National Association |
| Oct 17, 1998 | Bank of Charleston, National Association | The Anchor Bank |
| Oct 17, 1998 | The Commercial Bank of Roanoke, Alabama | Superior Bank |
| Oct 17, 1998 | Wayne Savings Bank, F.S.B. | Valley National Bank |
| Oct 17, 1998 | Commercial Bancshares of Roanoke, Inc. | The Banc Corporation |
| Oct 16, 1998 | First National Bank of Port Orchard | Pacific Northwest Bank |
| Oct 16, 1998 | First Citizens Bank & Trust Company | First-Citizens Bank & Trust Company |
| Oct 16, 1998 | Exchange National Bank and Trust Company | BancFirst |
| Oct 15, 1998 | Azle Holdings, Inc. | Independent Bankshares, Inc. |
| Oct 15, 1998 | Azle Bancorp | Independent Bankshares, Inc. |
| Oct 14, 1998 | South Valley National Bank | First National Bank of Central California |
| Oct 14, 1998 | Interwest Bancorp | The Colonial Bancgroup, Inc. |
| Oct 14, 1998 | Interwest Bank | Colonial Bank |
| Oct 13, 1998 | Gettysburg Area Federal Credit Union | Belco Community Credit Union |
| Oct 10, 1998 | Silsbee State Bank | Community Bank & Trust, S.S.B. |
| Oct 9, 1998 | Seminole Bank, National Association | First National Bank of Florida |
| Oct 9, 1998 | Community Bank of the Islands | Bank of America, N.A. |
| Oct 9, 1998 | Omni Bank | The Bank of Edwardsville |
| Oct 9, 1998 | The First National Bank of Conway | Regions Bank |
| Oct 9, 1998 | First National Bank of Russellville | Regions Bank |
| Oct 9, 1998 | Barnett Bank, National Association | Bank of America, N.A. |
| Oct 9, 1998 | Morrilton Security Bank, National Association | Regions Bank |
| Oct 9, 1998 | Citizens Bank & Trust | First National Bank of Florida |
| Oct 9, 1998 | Clinton State Bank | Regions Bank |
| Oct 9, 1998 | Citizens Bank | Local Oklahoma Bank |
| Oct 9, 1998 | Magna Bank, National Association | Union Planters Bank, National Association |
| Oct 8, 1998 | Banksouth Corp | Citizens Bank |
| Oct 7, 1998 | Prime Bank of Central Florida | Colonial Bank |
| Oct 6, 1998 | Cylinder Bancorporation | Iowa Trust & Savings Bank |
| Oct 6, 1998 | Cylinder State Bank | Iowa Trust & Savings Bank |
| Oct 4, 1998 | Home Savings of America, FSB | Washington Mutual Bank |
| Oct 3, 1998 | Lilly Industries Federal Credit Union | Indiana Members Credit Union |
| Oct 3, 1998 | Concora Anderson Employees Federal Credit Union | Indiana Members Credit Union |
| Oct 2, 1998 | Community Financial Corporation | Alabama National Bancorporation |
| Oct 2, 1998 | Mid Am, Inc. | SKY Financial Group, Inc. |
| Oct 2, 1998 | First Chicago NBD Corporation | Bank One Corporation |
| Oct 2, 1998 | First Macon Bank & Trust Company | Colonial Bank |
| Oct 1, 1998 | Peoples Trust of 1987 | Winter Trust of 12/3/74 |
| Oct 1, 1998 | Morgan Stanley Trust Company | JPMorgan Chase Bank, N.A. |
| Oct 1, 1998 | First Evergreen Corporation | Old Kent Financial Corporation |
| Oct 1, 1998 | Atlanta Cooperative Credit Association Credit Union | Associated Credit Union |
| Oct 1, 1998 | 1st Bancorp Vienna | Integra Bank Corporation |
| Oct 1, 1998 | Prairie Bankshares, Inc. | Citizens Bank of Kansas |
| Oct 1, 1998 | Swift Credit Union | Five Star Credit Union |
| Oct 1, 1998 | Citizens Bancorporation, Inc. | Suntrust Bank Holding Company |
| Oct 1, 1998 | The Long Island Savings Bank, FSB | Astoria Bank |
| Oct 1, 1998 | Nypoe Federal Credit Union | Picatinny Federal Credit Union |
| Oct 1, 1998 | State Bank of South Orange | United Trust 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 |
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