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 | Assets |
|---|---|---|
| Dec 17, 2002 | The Farmers Bank & Trust of Cheneyville | $35.3M |
| Nov 8, 2002 | Bank of Alamo | $58.5M |
| Sep 30, 2002 | Amtrade International Bank of Georgia | $92.1M |
| Jun 27, 2002 | Universal FSB | $51.6M |
| Jun 26, 2002 | Connecticut Bank of Commerce | $384.2M |
| Mar 28, 2002 | New Century Bank | $21.1M |
| Mar 1, 2002 | Net First National Bank | $37.2M |
| Feb 7, 2002 | Nextbank | $700.2M |
| Feb 1, 2002 | Oakwood Deposit Bank | $72.3M |
| Jan 18, 2002 | Bank of Sierra Blanca | $10.8M |
| Jan 11, 2002 | Hamilton Bank, N.A. | $1.41B |
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 | Acquirer |
|---|---|---|
| Nov 8, 2002 | Bank One, Illinois, National Association | Bank One, National Association |
| Nov 6, 2002 | Buckeye International Employees Credit Union, Inc. | First Service Federal Credit Union |
| Nov 6, 2002 | U.S. National Bank | Local Oklahoma Bank |
| Nov 1, 2002 | USABANCSHARES.COM, Inc | Nova Financial Holdings, Inc |
| Nov 1, 2002 | Cba Bancshares, Inc. | Marquette Financial Companies |
| Nov 1, 2002 | Gold Trust Company | Gold Trust Company |
| Nov 1, 2002 | First National Bank of Bay City | Prosperity Bank |
| Nov 1, 2002 | Rock Hill Bank & Trust | Carolina First Bank |
| Nov 1, 2002 | Valencia Bank & Trust | MUFG Union Bank, National Association |
| Nov 1, 2002 | Birch Run Area Credit Union | Great Lakes Federal Credit Union |
| Nov 1, 2002 | Pascagoula City Employees Federal Credit Union | Singing River Federal Credit Union |
| Nov 1, 2002 | Saint Pius Tenth Federal Credit Union | Space Age Credit Union |
| Nov 1, 2002 | Regional Health Care Federal Credit Union | United Southeast Federal Credit Union |
| Nov 1, 2002 | New Horizons Federal Credit Union | Northwest Arkansas Federal Credit Union |
| Nov 1, 2002 | Newnan Canco Employees Federal Credit Union | Coweta Cities & County Employees Federal Credit Union |
| Nov 1, 2002 | Texas Gas Employees Credit Union | Transcend Credit Union |
| Nov 1, 2002 | Mid-Continent Federal Credit Union | Heritage USA Federal Credit Union |
| Nov 1, 2002 | Razorback Federal Credit Union | Northwest Arkansas Federal Credit Union |
| Nov 1, 2002 | Fontaine Employees Federal Credit Union | Southern Energy Credit Union |
| Nov 1, 2002 | Indiana County Pennsylvania School Employees Federal Credit Union | Pennsylvania State Employees Credit Union dba Psecu |
| Nov 1, 2002 | The Citizens National Bank & Trust Co. | Kanza Bank |
| Nov 1, 2002 | Hotchkiss Community Federal Credit Union | Delta County Federal Credit Union |
| Nov 1, 2002 | Southern Oklahoma Federal Credit Union | Communication Federal Credit Union |
| Nov 1, 2002 | Steelcase of California Employee Federal Credit Union | Wescom Central Credit Union |
| Nov 1, 2002 | Westop Credit Union | Sound Credit Union |
| Oct 31, 2002 | Heritage Bancshares, Inc. | Piper Holdings, Inc. |
| Oct 31, 2002 | Biggsville Financial Corporation | Herky Hawk Financial Corp. |
| Oct 29, 2002 | Bank of Canton of California | United Commercial Bank |
| Oct 28, 2002 | Security State Bank | Central Bank |
| Oct 28, 2002 | First Security Banshares, Inc. | Central Bank |
| Oct 26, 2002 | Fidelity Federal Bank, a Federal Savings Bank | California National Bank |
| Oct 26, 2002 | Three Rivers Bank and Trust Company | SKY Bank |
| Oct 25, 2002 | First State Bank of Fort Benton | First Security Bank |
| Oct 25, 2002 | State Bank of Jefferson County | Allegiant Bank |
| Oct 19, 2002 | Heritage Bank, National Association | Heritage Bank |
| Oct 19, 2002 | Pulaski Savings Bank | Kearny Bank |
| Oct 18, 2002 | Cerro Gordo Building and Loan, S.B. | State Bank of Cerro Gordo |
| Oct 18, 2002 | Palm Beach National Bank & Trust Company | Colonial Bank |
| Oct 17, 2002 | Southern Credit Services, Inc. | Southern Community Bank and Trust |
| Oct 16, 2002 | Medford Bancorp, Inc. | Citizens Financial Group, Inc. |
| Oct 16, 2002 | Medford Savings Bank | Citizens Bank of Massachusetts |
| Oct 15, 2002 | Southwest Bank | First Commonwealth Bank |
| Oct 12, 2002 | American Bank | The Home State Bank |
| Oct 12, 2002 | 541 Investment Co. | The Home State Bank |
| Oct 10, 2002 | (unnamed) | Gateway Business Bank |
| Oct 10, 2002 | Greenfield Printers Credit Union, Inc. | Homeland Credit Union, Inc. |
| Oct 9, 2002 | Lockheed Martin Fairchild Systems Federal Credit Union | Fourleaf Federal Credit Union |
| Oct 9, 2002 | Fordham Federal Credit Union | Academic Federal Credit Union |
| Oct 7, 2002 | Crest Bancorp, Inc. | Piper Bankshares, Inc. |
| Oct 7, 2002 | Roberts State Bank | Vermilion Valley 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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