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 |
|---|---|---|
| Sep 26, 1998 | One Valley Bank of Ronceverte, National Association | One Valley Bank - South, Inc. |
| Sep 26, 1998 | One Valley Bank of Oak Hill, Inc. | One Valley Bank - South, Inc. |
| Sep 25, 1998 | Arkansas State Bank | Regions Bank |
| Sep 25, 1998 | Home State Bank | Gold BANK |
| Sep 25, 1998 | First Commercial Bank, Rogers | Regions Bank |
| Sep 25, 1998 | Baltimore Navistar Credit Union | State Employees Credit Union of Maryland Inc. |
| Sep 25, 1998 | The Security Bank | Regions Bank |
| Sep 21, 1998 | Charlestown Co-operative Bank | The Cooperative Bank |
| Sep 19, 1998 | Farmers and Merchants Bank of Carlinville | Mercantile Bank of Illinois |
| Sep 19, 1998 | Central Bank | Firstar Bank Missouri, National Association |
| Sep 19, 1998 | Elliott State Bank | Mercantile Bank of Illinois |
| Sep 19, 1998 | First Trust and Savings Bank of Taylorville | Mercantile Bank of Illinois |
| Sep 19, 1998 | Central National Bank of Mattoon | Mercantile Bank of Illinois |
| Sep 19, 1998 | The Citizens Bank | National Bank of Commerce |
| Sep 19, 1998 | First Commercial Trust Company, N.A. | Regions Bank |
| Sep 19, 1998 | The First National Bank of Central Illinois | Mercantile Bank of Illinois |
| Sep 18, 1998 | Allegiant Bank, FSB | Allegiant Bank |
| Sep 18, 1998 | The Eastville Bank | Farmers & Merchants Bank - Eastern Shore |
| Sep 18, 1998 | United Federal Savings Bank | Triangle Bank |
| Sep 18, 1998 | FirstBank | Colonial Bank |
| Sep 15, 1998 | Bank of Bellevue | Great Western Bank |
| Sep 15, 1998 | Republic Bank | First Bank & Trust |
| Sep 14, 1998 | Bankillinois Trust Company | Main Street Bank & Trust |
| Sep 12, 1998 | Norwest Bank International Falls, National Association | Norwest Bank Minnesota North, National Association |
| Sep 12, 1998 | The Bank of Livingston | The First National Bank of Livingston |
| Sep 12, 1998 | American National Bank | American National Bank |
| Sep 12, 1998 | Colonial Bank | Central Bank of St. Louis |
| Sep 12, 1998 | Glendale Federal Bank, Federal Savings Bank | California Federal Bank |
| Sep 12, 1998 | Pitkin County Bank and Trust Company | Vectra Bank Colorado, National Association |
| Sep 12, 1998 | Ambassador Bank of the Commonwealth | Lafayette Ambassador Bank |
| Sep 12, 1998 | TCB Bank | Citizens Bank of Southern Indiana |
| Sep 12, 1998 | Banterra Bank of Christopher | Banterra Bank |
| Sep 12, 1998 | Banterra Bank, National Association | Banterra Bank |
| Sep 12, 1998 | Banterra Bank of West Frankfort | Banterra Bank |
| Sep 12, 1998 | Norwest Bank Cloquet, National Association | Norwest Bank Minnesota North, National Association |
| Sep 12, 1998 | Banterra Bank Group | Banterra Bank |
| Sep 12, 1998 | Norwest Bank North Country, National Association | Norwest Bank Minnesota South, National Association |
| Sep 11, 1998 | FNB Company of Delaware | FNB Company |
| Sep 11, 1998 | The First National Bank of Palestine | Regions Bank |
| Sep 11, 1998 | Duchesne Bank | Lindell Bank & Trust Company |
| Sep 11, 1998 | First Community Banking Services, Inc. | Regions Financial Corporation |
| Sep 11, 1998 | Bank of Union | First Charter Bank |
| Sep 11, 1998 | Kilgore First National Bank | Regions Bank |
| Sep 11, 1998 | Longview National Bank | Regions Bank |
| Sep 11, 1998 | First Western Trust Services Company | First Western Bank, National Association |
| Sep 11, 1998 | The Stone Fort National Bank of Nacogdoches | Regions Bank |
| Sep 11, 1998 | Tyler Bank and Trust, National Association | Regions Bank |
| Sep 11, 1998 | Local 181 I a T S E Federal Credit Union | Oldham Family Alliance Federal Credit Union |
| Sep 11, 1998 | Lufkin National Bank | Regions Bank |
| Sep 9, 1998 | The Commerce Bancorporation | Zions Bancorporation |
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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