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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
Nov 25, 1998 The Sun City Bank AZ Founders Bank of Arizona
Nov 25, 1998 Oneida Valley Bancshares, Inc. NY Alliance Financial Corporation
Nov 24, 1998 Georgia National Bancorp, Inc. GA Southtrust Corporation
Nov 24, 1998 Georgia National Bank GA SouthTrust Bank
Nov 24, 1998 Fidelity State Bank KS Commerce Bank, National Association
Nov 23, 1998 Hinton Financial Corporation WV City Holding Company
Nov 21, 1998 NSS Bancorp, Inc. CT Summit Bancorp.
Nov 21, 1998 North Pacific Bank WA Heritage Bank
Nov 21, 1998 First National Bank of Warsaw IN National City Bank of Indiana
Nov 21, 1998 Security Savings Association OH Enterprise Federal Savings Bank
Nov 21, 1998 The Commercial and Savings Bank Company OH The Killbuck Savings Bank Company
Nov 21, 1998 Valley American Bank and Trust Company IN National City Bank of Indiana
Nov 21, 1998 Old-First National Bank in Bluffton, Bluffton, Indiana IN National City Bank of Indiana
Nov 21, 1998 First National Bank of Huntington IN National City Bank of Indiana
Nov 21, 1998 Fort Wayne National Bank IN National City Bank of Indiana
Nov 21, 1998 Churubusco State Bank IN National City Bank of Indiana
Nov 21, 1998 The Bank of New Mexico NM Wells Fargo Bank New Mexico, National Association
Nov 21, 1998 Bank of Arizona AZ Wells Fargo Bank Arizona, National Association
Nov 21, 1998 First National South SC The Anchor Bank
Nov 21, 1998 Hometown Bancshares, Inc. TX Sterling Bancorporation, LLC
Nov 21, 1998 First State Bank of Higginsville/Odessa MO Central Bank of Warrensburg
Nov 21, 1998 The Auburn State Bank IN National City Bank of Indiana
Nov 20, 1998 Springhill Bank & Trust Company LA Regions Bank
Nov 20, 1998 First National Bank AR Regions Bank
Nov 20, 1998 Capital Bank, National Association MD FCNB Bank
Nov 20, 1998 Pioneer Bancshares, Inc. TN First American Corporation
Nov 20, 1998 Trumbull Savings and Loan Company OH The Second National Bank of Warren
Nov 20, 1998 Star Banc Corporation OH Firstar Holdings Corporation
Nov 20, 1998 Valley Bank TN First American National Bank
Nov 20, 1998 The First National Bank of Nashville AR Regions Bank
Nov 20, 1998 Pioneer Bank TN First American National Bank
Nov 20, 1998 Farmers State Bank of McNabb IL First State Bank
Nov 17, 1998 Amsterdam Federal Bank NY Mohawk Community Bank
Nov 16, 1998 Central Bank LA Bank One, Louisiana, National Association
Nov 16, 1998 City National Bank of Baton Rouge LA Bank One Trust Company, N.A.
Nov 16, 1998 Louisiana Banc One Corporation LA Bank One Corporation
Nov 16, 1998 First National Bank of Commerce LA Bank One, Louisiana, National Association
Nov 16, 1998 First Security Bank of Craig CO Imperial Bank
Nov 16, 1998 The First National Bank of Lafayette LA Bank One, Louisiana, National Association
Nov 16, 1998 The First National Bank of Lake Charles LA Bank One, Louisiana, National Association
Nov 16, 1998 One Valley Bank of Clarksburg, National Association WV One Valley Bank, Inc.
Nov 16, 1998 Rapides Bank & Trust Company in Alexandria LA Bank One, Louisiana, National Association
Nov 15, 1998 Central Company, Inc. LA Louisiana Banc One Corporation
Nov 15, 1998 Baronne Street Properties, Inc. LA Louisiana Banc One Corporation
Nov 15, 1998 Marquis Leasing Company LA Louisiana Banc One Corporation
Nov 15, 1998 First Commerce Service Corporation LA Louisiana Banc One Corporation
Nov 15, 1998 Marquis Insurance Agency, LLC LA Louisiana Banc One Corporation
Nov 15, 1998 First Money, L.L.C. LA Louisiana Banc One Corporation
Nov 14, 1998 First State Bank TX Wells Fargo Bank Texas, National Association
Nov 14, 1998 Dauphin Deposit Bank and Trust Company PA Allfirst Bank

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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