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 |
|---|---|---|---|
| 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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