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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 14, 1998 Alliance Bank IN Integra Bank N.A.
Nov 14, 1998 The York Bank and Trust Company PA Allfirst Bank
Nov 14, 1998 The Rock Island Bank, National Association IA Mercantile Bank MidWest
Nov 14, 1998 First Federal Savings & Loan Association of Montana MT Sterling Savings Bank
Nov 14, 1998 Lexington Savings Bank MA USTrust
Nov 14, 1998 First National Bank Iowa IA Mercantile Bank MidWest
Nov 14, 1998 Maryland Federal Bank MD Truist Bank
Nov 13, 1998 First Financial Bank WI Associated Bank Milwaukee
Nov 13, 1998 Washington Square Federal Credit Union CA Blupeak Federal Credit Union
Nov 13, 1998 Amquest Bank, N.A. OK BancFirst
Nov 13, 1998 State Bank of Mount Horeb WI Amcore Bank, National Association, South Central
Nov 13, 1998 U S C O Federal Credit Union IN Tech Credit Union
Nov 13, 1998 AMCORE Bank, Argyle WI Amcore Bank, National Association, South Central
Nov 13, 1998 NationsBank of Tennessee, National Association TN Bank of America, N.A.
Nov 13, 1998 First National Bancorp, Inc. WI Country Bank Shares Corporation
Nov 13, 1998 First Financial Investments, Inc. NV Associated Bank Milwaukee
Nov 12, 1998 First Financial Corporation WI First Financial Bank
Nov 10, 1998 Zook & Roecker State Bank MO Carrollton Bank
Nov 9, 1998 Mountain Bank CO Wells Fargo Bank West, National Association
Nov 9, 1998 Bank of Drummond OK Cowboy Bank
Nov 7, 1998 Commerce Bank of Alabama AL Superior Bank
Nov 7, 1998 Security State Bank of Wykoff MN Security State Bank of Lewiston
Nov 7, 1998 Pike County Bank IN Integra Bank N.A.
Nov 7, 1998 MidAmerica Bank North WI Wells Fargo Bank Wisconsin, National Association
Nov 7, 1998 MidAmerica Bank WI Wells Fargo Bank Wisconsin, National Association
Nov 7, 1998 City Bank OK Gold BANK
Nov 6, 1998 First Commercial Bank, National Association AR Regions Bank
Nov 6, 1998 Lochaven Federal Savings and Loan Association FL Republic Bank
Nov 6, 1998 Bankers Savings Bank FL Republic Bank
Nov 3, 1998 Wells Fargo & Company CA WFC Holdings, LLC
Nov 2, 1998 Osmond State Bank NE Security Bank
Nov 2, 1998 Fidelity Bankshares, Inc. KS Cbi-Kansas, Inc.
Nov 2, 1998 Heritage Bank of Olathe KS Commerce Bank
Nov 2, 1998 Cbi-Kansas, Inc. MO Cbi-Kansas, Inc.
Nov 2, 1998 First Community Bancorp, Inc. GA National Commerce Financial Corporation
Nov 1, 1998 Bancwest Corporation CA First Hawaiian, Inc.
Nov 1, 1998 Pacific One Bank OR Bank of the West
Nov 1, 1998 Plano Savings Credit Union IL Illinois Community Credit Union
Nov 1, 1998 El Segundo Chevron Employees Credit Union CA Chevron Federal Credit Union
Nov 1, 1998 Marathon Ashland Division C Credit Union WI Superior Choice Credit Union
Nov 1, 1998 Downstate Banking Company IL Integra Bank Corporation
Nov 1, 1998 Downstate National Bank IL Illinois One Bank, National Association
Nov 1, 1998 P & S F Local 389 Credit Union TX Ibew Local 681 Credit Union
Nov 1, 1998 Insurance Employees Federal Credit Union IN General Credit Union
Nov 1, 1998 Central Mutual Credit Union CT American Mutual Credit Union, Inc
Nov 1, 1998 Danly Employees Credit Union IL Burlington Northern Santa Fe Railway Credit Union
Nov 1, 1998 Elk Grove Township Schools Credit Union IL A a E C Credit Union
Oct 31, 1998 First Citizens Bancorp, Inc. AL The Banc Corporation
Oct 31, 1998 Commonwealth Commercial Corp. KY Integra Bank Corporation
Oct 31, 1998 Busey Business Bank IN Busey 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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