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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 1, 2002 United Community Bank Rabun County GA United Community Bank
Dec 1, 2002 United Community Bank Metro GA United Community Bank
Dec 1, 2002 Security Acadia Bancshares, Inc. LA Financial Corporation of Louisiana
Dec 1, 2002 American Pioneer Federal Credit Union PA Viriva Community Credit Union
Dec 1, 2002 The State Credit Union NJ Credit Union of New Jersey
Dec 1, 2002 The Gardena Friendly Federal Credit Union CA Northrop Grumman Federal Credit Union
Dec 1, 2002 American Bank National Association LA American Horizons Bank
Dec 1, 2002 Bank of Greenville WV First Community Bank
Dec 1, 2002 United Community Bank Towns County GA United Community Bank
Dec 1, 2002 Erie Strayer Employees Federal Credit Union PA Erie Federal Credit Union
Dec 1, 2002 Sun Catholic Credit Union AZ Marisol Federal Credit Union
Dec 1, 2002 C P Works Employees Federal Credit Union PA Tri Boro Federal Credit Union
Dec 1, 2002 United Community Bank White County GA United Community Bank
Dec 1, 2002 United Communitiy Bank Dawson County GA United Community Bank
Dec 1, 2002 The Industrial Bank of Japan Trust Company NY Mizuho Bank (USA)
Nov 30, 2002 Fortress Bancshares, Inc. WI Merchants Merger Corp.
Nov 30, 2002 Cavalier Credit Union ND North Star Community Credit Union
Nov 29, 2002 South Gasconade Investment Corporation MO Linn Holding Company
Nov 26, 2002 Frontier State Bank AZ National Bank of Arizona
Nov 25, 2002 Ebc Employees Credit Union VT Vermont Federal Credit Union
Nov 23, 2002 Palmyra Savings MO First Federal Bank
Nov 23, 2002 Blue River Federal Savings Bank IN Salin Bank and Trust Company
Nov 22, 2002 Eastern Bank & Trust MA Eastern Bank
Nov 20, 2002 White Gold Credit Union GA Georgia Guard Credit Union
Nov 18, 2002 Texas Country Bank TX Texas State Bank
Nov 18, 2002 San Juan Delaware Financial Corporation DE BBVA Compass Bancshares, Inc.
Nov 18, 2002 San Juan Bancshares, Inc. TX BBVA Compass Bancshares, Inc.
Nov 17, 2002 Centennial Bank OR Columbia Bank
Nov 16, 2002 Columbus FSB NE BankFirst
Nov 16, 2002 Centennial Bancorp OR Umpqua Holdings Corporation
Nov 16, 2002 The Corning Bank AR First National Bank
Nov 16, 2002 TrustCo Bank, National Association NY TrustCo Bank
Nov 16, 2002 Security State Bank of Deer Creek MN Wadena State Bank
Nov 15, 2002 CF Glass Employees Federal Credit Union RI Navigant Credit Union
Nov 15, 2002 (unnamed) — First National Bank
Nov 15, 2002 National Bank of Hastings MI Sand Ridge Bank
Nov 15, 2002 The Bright National Bank IN Sand Ridge Bank
Nov 14, 2002 First State Bank of Donalsonville GA First State Bank of Blakely
Nov 13, 2002 California Federal Bank CA West, National Association
Nov 13, 2002 Bank of the Northwest OR Pacific Northwest Bank
Nov 12, 2002 Texas Asset Acquisition Corporation TX Bank One, National Association
Nov 9, 2002 The Morrill State Bank & Trust Co. KS Bank of Blue Valley
Nov 9, 2002 Bank of Tanglewood, National Association TX Bank of Texas. National Association
Nov 9, 2002 First South Bank FL Truist Bank
Nov 9, 2002 Cayuga Bank NY First Niagara Bank, N.A.
Nov 9, 2002 21st Century Bank MN 21st Century Bank
Nov 9, 2002 First National Bank of Onaga KS Bank of Blue Valley
Nov 9, 2002 Cortland Savings Bank NY First Niagara Bank, N.A.
Nov 8, 2002 Metropolitan National Bank OH First National Bank of Pennsylvania
Nov 8, 2002 American National Bank and Trust Company of Chicago IL Bank One, National Association

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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