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 1, 1998 | Wallula Federal Credit Union | Hapo Community Credit Union |
| Oct 1, 1998 | The Middle Tennessee Bank | First American National Bank |
| Oct 1, 1998 | Toshiba/Houston Credit Union | First Community Credit Union |
| Oct 1, 1998 | Kansas City Community Credit Union | Midwest Regional Credit Union |
| Oct 1, 1998 | Santa Fe West Credit Union | E-Central Credit Union |
| Oct 1, 1998 | Faultless Rubber Federal Credit Union | Ashland Community Federal Credit Union |
| Oct 1, 1998 | Citizens Bank of Marianna | SunTrust Bank, Tallahassee, National Association |
| Oct 1, 1998 | Hoosier Hills Financial Corporation | Integra Bank Corporation |
| Oct 1, 1998 | First Global Bank Federal Savings Bank | Hanmi Bank |
| Oct 1, 1998 | Castle Medical Center Federal Credit Union | Ko'Olau Federal Credit Union |
| Oct 1, 1998 | HP Colorado Federal Credit Union | First Technology Federal Credit Union |
| Oct 1, 1998 | Eagle Valley Bank | Eagle Valley Bank, National Association |
| Oct 1, 1998 | Mrs Smith's Pie Co. Federal Credit Union | Diamond Federal Credit Union |
| Oct 1, 1998 | The State Bank-Pretty Prairie | Citizens Bank of Kansas |
| Oct 1, 1998 | Trailer Builders Credit Union | River Bend Credit Union |
| Oct 1, 1998 | The Sumitomo Bank of California | California Bank & Trust |
| Oct 1, 1998 | The First State Bank of Vienna | Illinois One Bank, National Association |
| Oct 1, 1998 | Oregon Community Credit Union | Membersalliance Credit Union |
| Oct 1, 1998 | Sasf Credit Union | Trans Texas Southwest Credit Union |
| Oct 1, 1998 | Santa Fe Federal Employees Federal Credit Union | Del Norte Credit Union |
| Oct 1, 1998 | Gadsden State Bank | SunTrust Bank, Tallahassee, National Association |
| Oct 1, 1998 | Toole County Federal Credit Union | Bear Paw Credit Union |
| Oct 1, 1998 | The Hight State Bank | Scott State Bank |
| Oct 1, 1998 | Salem Eba Credit Union | Virginia Federal Credit Union |
| Oct 1, 1998 | Peoples, Inc. | Peoples, Inc. |
| Oct 1, 1998 | First National Bank of Sheridan | The Malvern National Bank |
| Oct 1, 1998 | NPC Federal Credit Union | Ridgedale Federal Credit Union |
| Oct 1, 1998 | Cheatham State Bank | First American National Bank |
| Oct 1, 1998 | Union State Bank | Prosperity Bank |
| Oct 1, 1998 | Brooklyn Postal Employees Credit Union | Municipal Credit Union |
| Oct 1, 1998 | Security First Network Bank, FSB | Security First Network Bank |
| Oct 1, 1998 | Inland Steel Credit Union | First Northern Credit Union |
| Oct 1, 1998 | Farmers National Bank | Susquehanna Bank DV |
| Oct 1, 1998 | Natick QM Federal Credit Union | Hanscom Federal Credit Union |
| Oct 1, 1998 | CSB Financial Corporation | First American Corporation |
| Oct 1, 1998 | Amquest Financial Corp. | BancFirst Corporation |
| Oct 1, 1998 | DHCD Federal Credit Union | DC Federal Credit Union |
| Sep 30, 1998 | American Credit Corporation | Firstar Holdings Corporation |
| Sep 30, 1998 | DPC of Milwaukee, Inc. | Firstar Bank Milwaukee, National Association |
| Sep 30, 1998 | Bancorp Pacific, Inc. | Bank of Hawaii |
| Sep 30, 1998 | CSFM Corporation | Firstar Bank Milwaukee, National Association |
| Sep 30, 1998 | Production Experts Employees Credit Union, Inc. | Community United Credit Union |
| Sep 30, 1998 | First Federal Savings and Loan Association of America | Bank of Hawaii |
| Sep 30, 1998 | First National Bank of Pickens County | Carolina First Bank |
| Sep 30, 1998 | Minutemen Credit Union | American Lake Credit Union |
| Sep 30, 1998 | Firstar Trust Company | Firstar Bank Milwaukee, National Association |
| Sep 30, 1998 | Bankamerica Corporation | Bank of America Corporation |
| Sep 28, 1998 | First Financial Bancorporation | Ameribanc, Inc. |
| Sep 28, 1998 | (unnamed) | Wells Fargo Bank Texas, National Association |
| Sep 28, 1998 | (unnamed) | Wells Fargo Bank Texas, National Association |
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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