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Calendar Year

2002 in US Banking

1,005 bank events are on record for 2002: 11 failures, 786 mergers or acquisitions involving a bank, credit union or bank holding company, and 208 enforcement actions.

11
Failures
$2.87B in failed assets
786
Mergers
Federal Reserve NIC, banking organizations
208
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings

Jump to: Bank failures 2002 · Bank mergers 2002

How many banks failed in 2002?

11 banks failed in 2002, with $2.87B in assets. Each failure below links to its own page.

Date Bank HQ Assets Acquirer or resolution
Dec 17, 2002 The Farmers Bank & Trust of Cheneyville Cheneyville, LA $35.3M Sabine State Bank & Trust C
Nov 8, 2002 Bank of Alamo Alamo, TN $58.5M —
Sep 30, 2002 Amtrade International Bank of Georgia Atlanta, GA $92.1M —
Jun 27, 2002 Universal FSB Chicago, IL $51.6M Chicago Community Bank
Jun 26, 2002 Connecticut Bank of Commerce Stamford, CT $384.2M Hudson United Bank
Mar 28, 2002 New Century Bank Shelby Township, MI $21.1M —
Mar 1, 2002 Net First National Bank Boca Raton, FL $37.2M Bank Leumi
Feb 7, 2002 Nextbank Phoenix, AZ $700.2M —
Feb 1, 2002 Oakwood Deposit Bank Oakwood, OH $72.3M The State Bank and Trust Co
Jan 18, 2002 Bank of Sierra Blanca Sierra Blanca, TX $10.8M The Security State Bank of
Jan 11, 2002 Hamilton Bank, N.A. Miami, FL $1.41B Israel Discount Bank of New

Which banks merged in 2002?

786 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 2002.

See the fuller list: Bank mergers 2002 with largest deals and credit union mergers ›

Date Acquired St Acquirer
Dec 31, 2002 Usb, Inc. WI Fifth Third Bank, N.A.
Dec 31, 2002 FSB Acquisition Corp. KY First State Bancshares, Inc.
Dec 31, 2002 Liberty Bancorp, MHC NJ NSB Holding Corp.
Dec 31, 2002 First Savings and Loan Association of America, a Federal Savings Association GU Bank of Hawaii
Dec 31, 2002 Liberty Bank NJ Northfield Bank
Dec 31, 2002 Banco Di Napoli S.P.A. — Sanpaolo Imi S.P.A.
Dec 31, 2002 First Banks America, Inc. CA FB Corporation
Dec 31, 2002 Union Financial Group LTD MO The San Francisco Company
Dec 31, 2002 First Pennsylvania Savings Association PA Fidelity Savings Bank
Dec 30, 2002 UBS Inc. CT UBS Americas Inc.
Dec 28, 2002 Herkimer Trust Corporation, Inc. NY Partners Trust Bank
Dec 27, 2002 Washita Bancshares, Inc. OK Washita State Bank
Dec 26, 2002 Farmers Deposit Bancorp KY Premier Financial Bancorp, Inc.
Dec 26, 2002 Georgetown Bancorp, Inc. KY Premier Financial Bancorp, Inc.
Dec 25, 2002 Orange County Gardeners Credit Union CA Nikkei Credit Union
Dec 24, 2002 First Community National Bank IA Union Bank of Arizona, N.A.
Dec 20, 2002 First Missouri Bancorporation, Inc. MO Landrum Company
Dec 20, 2002 Las Animas County Teachers Federal Credit Union CO Power Credit Union
Dec 20, 2002 Community Bank - Excelsior Springs, A Savings Bank MO North American Savings Bank, FSB
Dec 19, 2002 Prime Bancshares, Inc. MN WFC Holdings, LLC
Dec 16, 2002 Frontier National Bank GA Frontier Bank
Dec 16, 2002 1st Choice Financial Corp. MN First Commerce Bancshares, Inc.
Dec 14, 2002 Peoples Bank KS Great Western Bank
Dec 14, 2002 Heartland Health Federal Credit Union MO Postal & Community Credit Union
Dec 14, 2002 Peoples Bank NM Peoples Bank
Dec 14, 2002 Banco Financiero de Puerto Rico PR Eurobank
Dec 13, 2002 Texas Bancshares, Inc. MN Wells Fargo & Company
Dec 13, 2002 Buffalo National Bancshares, Inc. MN Wells Fargo & Company
Dec 12, 2002 First National Bank of Johns Creek GA Main Street Bank
Dec 11, 2002 Local 144 S.E.I.U. Federal Credit Union NY I Am Federal Credit Union
Dec 10, 2002 Neisler Credit Union IL Staley Credit Union
Dec 9, 2002 State Bank of Wonewoc WI Baraboo State Bank
Dec 7, 2002 Mississippi Southern Bank MS State Bank & Trust Company
Dec 7, 2002 Kaneland Community Bank IL American Bank and Trust Company, N.A.
Dec 7, 2002 High Street Banking Company NC Capital Bank
Dec 7, 2002 West Burlington Bank IA Farmers & Merchants Bank & Trust
Dec 6, 2002 Embry Bank GA First Bank of the South
Dec 3, 2002 Wachovia Acquisition Corporation 2001-01 NC Wachovia Corporation
Dec 3, 2002 Heights State Bank TX Extraco Banks, N.A.
Dec 2, 2002 Port City Employees Federal Credit Union TX Baker Hughes Federal Credit Union
Dec 2, 2002 Harris Trust Company WA The Harris Bank National Association
Dec 2, 2002 Towne Bank OH Oak Hill Banks
Dec 2, 2002 Harris Trust Company of California CA The Harris Bank National Association
Dec 2, 2002 Pantagraph Printing Employees Credit Union IL Prairieland Federal Credit Union
Dec 2, 2002 Chicagoland Credit Union IL Illiana Financial Credit Union
Dec 1, 2002 United Community Bank North Georgia GA United Community Bank
Dec 1, 2002 High Street Corporation NC Capital Bank Corporation
Dec 1, 2002 Provident Investment Management Corporation OH The Provident Bank
Dec 1, 2002 Monroe Financial, Inc. WV First Community Bankshares, Inc.
Dec 1, 2002 United Community Bank West Georgia GA United Community Bank

The list holds 500 of the 786 mergers recorded for 2002.

Enforcement Actions in 2002

Action date Agency Institution Action
Dec 23, 2002 OCC United National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Williams, Sultan K.
Dec 18, 2002 OCC Citizens National Bank & Trust of Hazard Prohibition/Removal Orders: Campbell, Laura Gorman
Dec 17, 2002 OCC The First National Bank of Mt. Pulaski Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The First National Bank of Mt. …
Dec 17, 2002 OCC First National Bank of Newton Formal Agreement: First National Bank of Newton
Dec 17, 2002 OCC The Dublin National Bank Formal Agreement: The Dublin National Bank
Dec 16, 2002 OCC The Farmers National Bank of Winfield Formal Agreement: The Farmers National Bank of Winfield
Dec 10, 2002 FRB Metamora Bancorp, Inc. Written Agreement: Metamora Bancorp, Inc., Metamora, OH and The Metamora State Bank, Metamora, OH
Dec 4, 2002 OCC_OTS First Federal Savings Bank Civil Money Penalty: First Federal Savings Bank
Dec 3, 2002 OCC Bank of America, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Nguyen, Bien C.
Dec 3, 2002 OCC PNC Bank, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Gindele, Rachel E.
Dec 3, 2002 OCC Bank of America, N.A. C&D or PC&D Requiring Restitution: Nguyen, Bien C.
Nov 22, 2002 FRB First Western Bank Notice of Intent: Carl V. Thomas, Eva June Thomas, Stephen P. Thomas, Mary Beth …
Nov 21, 2002 OCC U.S. Bank N.A. Prohibition/Removal Orders: Gibson, Alexis G.
Nov 18, 2002 OCC Riverside National Bank of Florida Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Mitchell, Lewis Edward
Nov 15, 2002 OCC Union Federal Bank of Indianapolis Prohibition/Removal Orders: Gulli, Michelle
Nov 15, 2002 OCC_OTS Union Federal Bank of Indianapolis Orders of Removal/Prohibition: Robin M. DeGrange
Nov 15, 2002 OCC_OTS Union Federal Bank of Indianapolis Orders of Removal/Prohibition: Michelle P. Gulli
Nov 15, 2002 FRB Deutsche Bank Trust Company, National Association Prohibition from Banking: Eduardo Del Rio
Nov 7, 2002 OCC Seaway National Bank of Chicago Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Seaway National Bank of Chicago
Oct 31, 2002 OCC Bank of China Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Jian, Xiang Wen ("Simon")
Oct 31, 2002 OCC Bank of China Civil Money Penalty (CMP): Wen, Jian Xiang
Oct 31, 2002 OCC Bank of China Prohibition/Removal Orders: Young, Patrick
Oct 31, 2002 OCC Bank of China Civil Money Penalty (CMP): Young, Patrick
Oct 29, 2002 OCC The First National Bank of Shelby Formal Agreement: The First National Bank of Shelby
Oct 28, 2002 OCC Goleta National Bank Civil Money Penalty (CMP): Goleta National Bank
Oct 28, 2002 OCC Goleta National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Goleta National Bank
Oct 25, 2002 OCC Goleta National Bank Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Goleta National Bank
Oct 25, 2002 OCC_OTS Liberty Trust & Savings Bank Cease and Desist: Robert A. Baudler
Oct 25, 2002 OCC_OTS Greater South Texas Bank Cease and Desist: James Edward Bryson
Oct 25, 2002 OCC Goleta National Bank Civil Money Penalty (CMP): Goleta National Bank
Oct 21, 2002 OCC Valley Bank (National Association) Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Valley Bank (National Association)
Oct 21, 2002 OCC Citizens National Bank & Trust of Hazard Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Fields, Donald
Oct 18, 2002 OCC_OTS United Savings Association of Texas Cease and Desist: Charles E. Hurwitz
Oct 17, 2002 OCC_OTS American Trust & Savings Bank Cease and Desist: Bruce M. Borst
Oct 15, 2002 OCC The First National Bank of Slippery Rock Formal Agreement: The First National Bank of Slippery Rock
Oct 11, 2002 OCC First National Bank of Shelby County Formal Agreement: First National Bank of Shelby County
Oct 11, 2002 FRB United Central Bank Amendment of 11/13/2002 Order to Cease and Desist: United Central Bank, Garland, TX
Oct 10, 2002 OCC_OTS Superior Bank, Federal Savings Bank Cease and Desist: Neal T. Halleran
Oct 10, 2002 OCC Luzerne National Bank Corporation Formal Agreement: Luzerne National Bank
Oct 10, 2002 OCC Fidelity National Mortgage Corporation Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Perry, James H.
Oct 8, 2002 OCC Fidelity National Mortgage Corporation Civil Money Penalty (CMP): Fidelity National Bank
Oct 4, 2002 FRB Byron Center State Bank Written Agreement: O.A.K. Financial Corporation, Byron Center, MI, and Byron Center State Bank, Byron …
Oct 2, 2002 OCC First National Bank of Clinton Formal Agreement: First National Bank of Clinton
Sep 30, 2002 OCC Industrial Bank, National Association Civil Money Penalty (CMP): Chapman, Clinton W.
Sep 30, 2002 OCC Industrial Bank, National Association Civil Money Penalty (CMP): King, Benjamin L.
Sep 30, 2002 OCC Industrial Bank, National Association Civil Money Penalty (CMP): Fleming, Massie
Sep 30, 2002 OCC Industrial Bank, National Association Civil Money Penalty (CMP): Windsor, George H.
Sep 30, 2002 OCC Industrial Bank, National Association Civil Money Penalty (CMP): Williams, Emerson
Sep 30, 2002 OCC Industrial Bank, National Association Civil Money Penalty (CMP): Mitchell, Cynthia T.
Sep 30, 2002 OCC Industrial Bank, National Association Civil Money Penalty (CMP): Mitchell, B. Doyle

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