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 4, 1998 | First Federal Savings Bank | Blackhawk Bank |
| Sep 2, 1998 | Bennett Pump Employees Federal Credit Union | First General Credit Union |
| Sep 1, 1998 | Eagle Holding Company | Val Cor Bancorporation, Inc. |
| Sep 1, 1998 | Kittitas Valley Bancorp | Pacific Northwest Bancorp |
| Sep 1, 1998 | Community Bank Capital Corporation | Synovus Financial Corp. |
| Sep 1, 1998 | Participants Trust Company | The Depository Trust Company |
| Sep 1, 1998 | Village Bankshares, Inc. | Regions Financial Corporation |
| Sep 1, 1998 | Jefferson County Bancorp, Inc. | First American Bankshares, Inc. |
| Sep 1, 1998 | Comsouth Bankshares, Inc. | Anchor Financial Corporation |
| Sep 1, 1998 | Dakota Company, Inc. | Marquette Financial Companies |
| Sep 1, 1998 | Saint Lawrence Parish Credit Union | Morris Community Credit Union |
| Sep 1, 1998 | Citizens Holding Corporation | Southwest Banks, Inc. |
| Sep 1, 1998 | Bayerische Hypotheken- Und Wechsel-Bank Aktiengesellschaft | Unicredit Bank GmbH |
| Sep 1, 1998 | Stephenson Area Federal Credit Union | Integra First Federal Credit Union |
| Sep 1, 1998 | N.C.H. Community Credit Union, Inc. | Greater Cincinnati Credit Union, Inc. |
| Sep 1, 1998 | Eagle Bank | Vectra Bank Colorado, National Association |
| Sep 1, 1998 | Pacific Commerce Bank | Scripps Bank |
| Sep 1, 1998 | M & M Financial Corporation | Anchor Financial Corporation |
| Sep 1, 1998 | Peoples Savings Financial Corporation | Emclaire Financial Corp |
| Sep 1, 1998 | Cheyenne Western Bank | First Community Bank |
| Sep 1, 1998 | Deposit Guaranty National Bank | First American National Bank |
| Sep 1, 1998 | Transflorida Bank | Union Planters Bank, National Association |
| Sep 1, 1998 | First American Bank | First Bank & Trust |
| Sep 1, 1998 | Doehler Employees Federal Credit Union | Jeep Country Federal Credit Union |
| Sep 1, 1998 | Peoples Savings Bank | The Farmers National Bank of Emlenton |
| Aug 31, 1998 | Tappan Zee Financial, Inc. | U.S.B. Holding Co., Inc. |
| Aug 31, 1998 | Hub Financial Corporation | Glacier Bancorp, Inc. |
| Aug 31, 1998 | Community First Financial, Inc. | Integra Bank Corporation |
| Aug 31, 1998 | Ambanc Corp. | Union Planters Holding Corporation |
| Aug 31, 1998 | Trigg Bancorp, Inc. | Integra Bank Corporation |
| Aug 31, 1998 | Marietta Memorial Hospital Employees Credit Union, Inc. | Southeastern Ohio Credit Union, Inc. |
| Aug 31, 1998 | Pioneer Federal Savings Bank | Central Bank & Trust Company |
| Aug 31, 1998 | Washington County Credit Union, Inc. | Southeastern Ohio Credit Union, Inc. |
| Aug 29, 1998 | American National Bank of Sarpy County | American National Bank |
| Aug 29, 1998 | Kersey Bancorp, Inc. | Val Cor Bancorporation, Inc. |
| Aug 29, 1998 | Independent Bank | Vectra Bank Colorado, National Association |
| Aug 29, 1998 | Gibson Employees Federal Credit Union | Kemba Credit Union, Inc. |
| Aug 29, 1998 | First National Bank | Union Bank and Trust Company |
| Aug 29, 1998 | Bainbridge National Bank | First Community Bank of Southwest Georgia |
| Aug 28, 1998 | State First National Bank | Regions Bank |
| Aug 28, 1998 | State First National Bank | Regions Bank |
| Aug 26, 1998 | First Petersburg Bancshares, Inc. | Vista Bancshares, Inc. |
| Aug 24, 1998 | First National Sylacauga Corporation | Frontier National Corporation |
| Aug 22, 1998 | Dime Financial Corporation | Hudson United Bancorp |
| Aug 22, 1998 | Trans Financial Mortgage Company Inc. | U.S. Bank N.A. |
| Aug 22, 1998 | Trans Travel Inc. | U.S. Bank N.A. |
| Aug 22, 1998 | Trans Financial Bank, N.A. | U.S. Bank N.A. |
| Aug 22, 1998 | The First National Bancorp of Greenville, Inc. | Whitney Holding Corporation |
| Aug 22, 1998 | Trans Financial, Inc. | Star Banc Corporation |
| Aug 22, 1998 | NationsBank of Kentucky, National Association | First City Bank and Trust Company |
The list holds 500 of the 1,286 mergers recorded for 1998.
Enforcement Actions in 1998
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Dec 22, 1998 | OCC | Merchants Bank of California, N.A. | Safety and Soundness Order (issued under 12 CFR 30): Merchants Bank of California, National … |
| Dec 18, 1998 | OCC | First National Bank of Crestview | Civil Money Penalty (CMP): Clark, Timothy M. |
| Dec 18, 1998 | OCC | First National Bank of Crestview | Civil Money Penalty (CMP): Clark, W. Max |
| Dec 16, 1998 | FRB | (individual) | Cease and Desist Order: Ricardo Carrasco |
| Dec 16, 1998 | FRB | Incus Co. Ltd. | Notice of Intent: Carlos Hank Rhon |
| Dec 16, 1998 | FRB | (individual) | Prohibition from Banking: Ricardo Carrasco |
| Dec 15, 1998 | OCC_OTS | Labe Federal Bank for Savings | Supervisory Agreement: Labe Federal Bank for Savings |
| Dec 15, 1998 | OCC_OTS | Labe Federal Bank for Savings | Supervisory Agreement: Labe Federal Bank for Savings |
| Dec 14, 1998 | FRB | Bankers Company of New York | Civil Money Penalty, $15,000: Kassahum Kebede |
| Dec 14, 1998 | OCC_OTS | Standard Financial Corporation | Orders of Removal/Prohibition: Lana R. Remus |
| Dec 14, 1998 | OCC | Landmark Community Bank, National Association | Formal Agreement: Landmark Community Bank, N.A. |
| Dec 14, 1998 | OCC | The First National Bank of Littlefield | Formal Agreement: The First National Bank of Littlefield |
| Dec 14, 1998 | FRB | Chemical New York, Inc. | Prohibition from Banking: Fred J. Smilek |
| Dec 14, 1998 | FRB | Zia New Mexico Bank | Cease and Desist Order: Zia New Mexico Bank, Tucumcari, NM |
| Dec 10, 1998 | FRB | Adairsville Bancshares, Inc. | Written Agreement: Adairsville Bancshares, Inc., Adairsville, GA and Bank of Adairsville, Adairsville, GA |
| Dec 10, 1998 | OCC_OTS | (individual) | Supervisory Agreement: Valley Bank |
| Dec 10, 1998 | OCC | (individual) | Formal Agreement: Bremer Bank, N.A. |
| Dec 10, 1998 | OCC_OTS | Valley Bank of Maryland | Supervisory Agreement: Valley Bank of Maryland |
| Dec 8, 1998 | OCC | The First National Bank of Keystone | Civil Money Penalty (CMP): Church, Terry L. |
| Dec 8, 1998 | OCC | The First National Bank of Keystone | Civil Money Penalty (CMP): Pais, Louis J. |
| Dec 8, 1998 | OCC | The First National Bank of Keystone | Civil Money Penalty (CMP): Ragos, Andres L. |
| Dec 8, 1998 | OCC | The First National Bank of Keystone | Civil Money Penalty (CMP): Gibson, Michael F. |
| Dec 8, 1998 | OCC | The First National Bank of Keystone | Civil Money Penalty (CMP): Cherry, Billie J. |
| Dec 8, 1998 | OCC | The First National Bank of Keystone | Civil Money Penalty (CMP): Budnick, Julian G. |
| Dec 4, 1998 | OCC_OTS | (individual) | Supervisory Agreement: Family Savings Bank, FSB |
| Dec 4, 1998 | OCC_OTS | (individual) | Supervisory Agreement: Family Savings Bank, FSB |
| Dec 2, 1998 | OCC_OTS | Gilmer Savings Bank, F.S.B. | Supervisory Agreement: Gilmer Savings Bank, FSB |
| Dec 2, 1998 | OCC_OTS | Gilmer Savings Bank, F.S.B. | Supervisory Agreement: Gilmer Savings Bank |
| Dec 2, 1998 | OCC_OTS | Coast Federal Bank, FSB | Orders of Removal/Prohibition: Francesca Devivo |
| Nov 30, 1998 | FRB | Fe-San Francisco Ca, LLC | Prohibition from Banking: Putra Masagung |
| Nov 30, 1998 | FRB | Fe-San Francisco Ca, LLC | Cease and Desist Order: Putra Masagung |
| Nov 30, 1998 | FRB | P.T. Gunung Agung | Cease and Desist Order: P.T. Gunung Agung, Ltd. Corporation, Jakarta, Indonesia |
| Nov 30, 1998 | OCC | Mission National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Mission National Bank |
| Nov 30, 1998 | FRB | Fe-San Francisco Ca, LLC | Civil Money Penalty $250,000: Putra Masagung |
| Nov 30, 1998 | FRB | (individual) | Civil Money Penalty $50,000: P.T. Ekspor Impor Bank Indonesia (Persero) Jakarta, Indonesia and P.T. … |
| Nov 30, 1998 | FRB | P.T. Gunung Agung | Civil Money Penalty $200,000: P.T. Gunung Agung, Ltd. Corporation, Jakarta, Indonesia |
| Nov 30, 1998 | OCC | Yampa Valley Bank | Formal Agreement: Yampa Valley National Bank |
| Nov 30, 1998 | OCC | (individual) | Prohibition/Removal Orders: Redemann, James J. |
| Nov 19, 1998 | OCC | Surety Bank, National Association | Formal Agreement: Surety Bank, National Association |
| Nov 19, 1998 | OCC | Broad National Bancorporation | Formal Agreement: Broad National Bank |
| Nov 16, 1998 | OCC_OTS | (individual) | Termination of Cease and Desist: John J. Frasier Jr. |
| Nov 13, 1998 | FRB | Southern Security Bank Corporation | Written Agreement: Southern Security Bank, Hollywood, FL |
| Nov 10, 1998 | FRB | Frontier Bank of Laramie County | Cease and Desist Order: Frontier Bank of Laramie County, Cheyenne, Wyoming |
| Nov 9, 1998 | OCC_OTS | (individual) | Termination of Cease and Desist: Dr. Henry J. Boehm Jr. |
| Nov 9, 1998 | OCC_OTS | First Federal Savings Bank | Termination of Cease and Desist: Dr. Henry J. Boehm Jr. |
| Nov 3, 1998 | OCC_OTS | Perpetual Savings and Loan Association | Orders of Removal/Prohibition: Kathy M. McKee |
| Nov 2, 1998 | FRB | (individual) | Cease and Desist Order: William Shilstone |
| Oct 15, 1998 | OCC_OTS | (individual) | Civil Money Penalty: Bruce L. Ripper |
| Oct 15, 1998 | OCC | First National Bank | Formal Agreement: First National Bank Of Rotan |
| Oct 14, 1998 | OCC_OTS | Blue River Federal Savings Bank | Supervisory Agreement: Blue River Federal Savings Bank |
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