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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
Sep 26, 2002 OCC National Bank of Andover Formal Agreement: National Bank of Andover
Sep 24, 2002 OCC Modern Bank, N.A. Formal Agreement: Excel Bank, National Association
Sep 23, 2002 OCC Bank of America International Texas Prohibition/Removal Orders: Wallace, Sheryl L.
Sep 23, 2002 OCC Bank of America International Texas C&D or PC&D Requiring Restitution: Wallace, Sheryl L.
Sep 23, 2002 OCC Bank of China Prohibition/Removal Orders: Jiang, Ming
Sep 20, 2002 FRB Broadstreet, Inc. Cease and Desist Order: Broadstreet, Inc., Atlanta, GA and AmTrade International Bank of Georgia, …
Sep 20, 2002 OCC Executive National Bank Civil Money Penalty (CMP): Young, G. Craig
Sep 18, 2002 OCC The First National Bank of Wamego Formal Agreement: The First National Bank of Wamego
Sep 18, 2002 OCC Banc One Kentucky Corporation Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Gray, Downey M.
Sep 16, 2002 OCC Surety Capital Corporation Prohibition/Removal Orders: Gardner, Bonnie
Sep 9, 2002 OCC KeyBank N.A. Prohibition/Removal Orders: Emerick, Jayna N.
Sep 9, 2002 OCC KeyBank N.A. C&D or PC&D Requiring Restitution: Emerick, Jayna N.
Sep 4, 2002 OCC First National Bank of Northern Kentucky Prompt Corrective Action (PCA) Directive: First National Bank of Northern Kentucky
Sep 3, 2002 OCC Bank of China Civil Money Penalty (CMP): Luo, Jia Shu
Sep 3, 2002 OCC Bank of China Prohibition/Removal Orders: Luo, Jia Shu
Sep 3, 2002 OCC Bank of China Prohibition/Removal Orders: Li, Chuan Jie
Sep 3, 2002 OCC First Farmers and Merchants Bank Formal Agreement: First Farmers and Merchants National Bank
Sep 3, 2002 OCC Bank of China Civil Money Penalty (CMP): Jie, Li Chuan
Aug 28, 2002 OCC First National Bank of Steeleville Formal Agreement: First National Bank of Steeleville
Aug 28, 2002 OCC Florida Capital Bank, N.A. Formal Agreement: First National Bank
Aug 23, 2002 OCC Bank of China Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Gao, Jian Hua
Aug 23, 2002 OCC Mauriceville National Bank Prohibition/Removal Orders: Thornton, Deon
Aug 23, 2002 OCC Marquette Bank Minneapolis, National Association Prohibition/Removal Orders: Tyus, Cynthia D.
Aug 22, 2002 OCC_OTS Algiers Homestead Association Termination of Cease and Desist: Algiers Homestead Association
Aug 22, 2002 OCC TrustCo Bank Formal Agreement: Trustco Bank, National Association
Aug 21, 2002 OCC The First National Bank of Mayfield Formal Agreement: The First National Bank of Mayfield
Aug 16, 2002 OCC_OTS UmbrellaBank, FSB Cease and Desist: UmbrellaBank, fsb
Aug 16, 2002 OCC_OTS (individual) Cease and Desist: Umbrella Bancorp, Inc.
Aug 14, 2002 OCC Banco de La Republica Oriental Del Uruguay Formal Agreement: Banco de LA Republica Oriental Del Uruguay
Aug 13, 2002 OCC_OTS Superior Bank, Federal Savings Bank Cease and Desist: Nelson L. Stephenson
Aug 13, 2002 OCC The First National Bank of Arenzville Civil Money Penalty (CMP): Millard, Brian
Aug 13, 2002 OCC_OTS Superior Bank, Federal Savings Bank Cease and Desist: William C. Bracken
Aug 12, 2002 OCC Washington State Bank, National Association Formal Agreement: Washington State Bank, National Association
Aug 6, 2002 OCC Wells Fargo Bank, National Association Prohibition/Removal Orders: Feispor, Rashel
Aug 5, 2002 OCC_OTS Oak Tree Federal Savings Bank Cease and Desist: William W. Vaughan, III
Aug 5, 2002 OCC_OTS Oak Tree Federal Savings Bank Cease and Desist: Gerald G. Barton
Jul 31, 2002 OCC Union Bank of Arizona, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Union Bank of Arizona, National Association
Jul 30, 2002 OCC The First National Bank of Strasburg Prohibition/Removal Orders: Cole, George J.
Jul 30, 2002 OCC The First National Bank of Strasburg C&D or PC&D Requiring Restitution: Cole, George J.
Jul 29, 2002 OCC_OTS Fidelity Federal Savings and Loan Associates Cease and Desist: W. C. Taylor, III
Jul 25, 2002 FRB First Community Bank and Trust Written Agreement: Community First Bank and Trust, Celina, OH
Jul 22, 2002 OCC_OTS Angelina Savings Bank, SSB Orders of Removal/Prohibition: Shelly R. Kornegay
Jul 22, 2002 OCC Incommons Bank, N.A. Formal Agreement: First National Bank of Mexia
Jul 22, 2002 OCC First Community Bank of Cherokee Formal Agreement: First National Bank of Cherokee
Jul 18, 2002 OCC First National Bank Formal Agreement: First National Bank
Jul 17, 2002 OCC PNC Bank, N.A. Formal Agreement: PNC Bank, National Association
Jul 17, 2002 OCC Golden Bank, N.A. Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Texas First National Bank
Jul 15, 2002 OCC_OTS Metro Bank, FSB Supervisory Agreement: James R. Niblock
Jul 12, 2002 FRB The PNC Financial Services Group, Inc. Written Agreement: The PNC Financial Services Group, Inc., Pittsburg, PA
Jul 12, 2002 OCC Steel Valley Bank, N.A. Formal Agreement: Steel Valley Bank, National Association

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